Jenner & Block

Client Alert: Department of Labor Issues Interim Final Rule on Disclosure of Fees and Conflicts of Interest

In this alert, Partner Jorge M. Leon and Associate Sarah E. Haddy discuss an interim final rule issued by the U.S. Department of Labor on July 15, 2010 that is intended to improve disclosure of fees and conflicts of interest to fiduciaries of 401(k) and certain other retirement plans. As the authors point out, the new regulation will help fiduciaries determine the reasonableness of compensation paid to service providers as well as examining any possible conflicts of interest that may arise under a service contract. The new rule goes into effect on July 16, 2011.