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Investment Disclosure Requirements

The DOL’s Employee Benefits Security Administration (EBSA) announced a direct final rule providing a two-month grace period for 401(k)s and like plans to supply investment and plan-related information to plan participants, changing the current requirement that annual disclosures be supplied at least once every 12-month period to at least once in any 14-month period. This change is in response to comments received intimating that “plan administrators need more flexibility to avoid potentially unnecessary costs and burdens”, according to EBSA. The direct final rule is effective June 17, 2015 unless significant adverse comments are received during the public comment period.

planadviser.com; March 18, 2015.