Labor Dept. To Hold Hearing On 401(k) Disclosures

Law360, New York (February 27, 2008, 12:00 AM EST) -- The U.S. Department of Labor said Thursday that it would be holding a public hearing to discuss proposed changes to the Employee Retirement Income Security Act of 1974 that would require additional disclosure of 401(k) service provider compensation to plan participants.

The DOL announced the proposed regulations in December along with a proposed exemption that would eliminate liability for 401(k) plan sponsors in the event that service providers do not provide adequate disclosures. The regulator then asked for written comments about its proposals.

Since then, the...
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