DoL to Require Expanded Investment Option Disclosure for DC Plans
The Department of Labor has issued new disclosure regulations for defined contribution plans. The new regulations require plan fiduciaries to disclose significant information to plan participants about the plan itself and its investment options. Information about investments must include prospectus-like information about performance and fees in a format that makes for easy comparison among options. Participants must also receive a web-site address where they can find more detailed information. The compliance date is November 1, 2011.