Retirement Plan Professionals Discuss
Fee Disclosure Burdens on Plan Sponsors

Expert Panel Provides Pre-deadline Review of ERISA 408(b)(2) Compliance Regulations Related to Fee Disclosures of 401(k) and 403(b) Company Retirement Plans

MANCHESTER, NH - Eldridge Investment Advisors and Baker Newman Noyes recently sponsored a "Fee Disclosure Q&A” tailored specifically for HR professionals and senior level executives responsible for fiduciary oversight of employer-sponsored defined contribution retirement plans, including 401(k) and 403(b).

The full audio of the event is available on the
Eldridge Investment Advisors website at:
Fee Disclosure Q&A Audio.

The Q&A panel took place June 26, 2012 at The Derryfield Country Club, Manchester, NH in anticipation of the two-part compliance requirements that go into effect July 1, 2012 and August 30, 2012.

The event was a follow-up to a workshop held in November, which provided an overview of the new ERISA regulations that will require service providers and employers to disclose fees associated with company-sponsored retirement plans in order for employers to make informed investment decisions. The first deadline (July 1) affects “covered service providers” to retirement plans requiring them to provide to plan sponsors a full written description of services they provide including all costs associated with the plan stating whether they are acting in a fiduciary role. The second deadline (August 30) will require employers that sponsor participant-directed plans to disclose specific information to all employees concerning participant-level fees charged to or deducted from their individual accounts.

“Now that the regulations and deadlines have been written in stone,” said Sean P. Riley, a professional plan consultant with Eldridge Investment Advisors, “we wanted to hold a forum for employers and plan sponsors to sit down with a roomful of experts to help answer any of their compliance-related questions.”

The panel consisted of Riley, Craig Garner, a qualified pension administrator (QPA) also with Eldridge Investment Advisors, and Peter Tawney, audit principal with Baker Newman Noyes.*

About Eldridge Investment Advisors
Eldridge Investment Advisors, Inc., located in Manchester, NH, is an independent investment advisory firm focused on retirement plan and investment consulting for individuals, families, corporations and trusts throughout New England and beyond. With the added capability to provide retirement plan administration through its affiliated company Stephen Eldridge & Company, Inc., the firm is especially well-suited to meet the needs of the principals and key executives of privately held businesses.

* Peter W. Tawney and Baker Newman Noyes are not affiliated with or endorsed by LPL Financial or Eldridge Investement Advisors.