New health plan disclosure rules should bring more transparency
New disclosure requirements should bring more transparency to the health plan side of employee benefits and allow plan fiduciaries to know and understand all the ways, direct and indirect, everyone is getting paid. The changes will help the fiduciaries to identify and assess possible conflicts of interest.
Earlier protections for retirement plan fiduciaries
Ten years ago, the U.S. Department of Labor (DOL) published a final regulation under the Employee Retirement Income Security Act of 1974 (ERISA) requiring retirement plan service providers to disclose information about their compensation and potential conflicts of interest. Under the regulation, covered service providers to retirement plans are required to disclose:
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