Department of Labor issues Advisory Opinion on disclosure of commissions

Article Abstract:

An analysis of the Department of Labor's issuance of Advisory Opinion 2005-02A (March 2, 2005) for investigations of brokers, agents, and consultants with respect to employee benefit plans, over their illegal practices of underreporting the amount of fees and commissions, is presented. The DOL's AO has emphasized that all commissions and fees directly or indirectly attributable to a contract or policy between a plan and a insurance company needs to be reported on the Forum 5500 (Schedule A).

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Labor department reviews revenue sharing arrangements

Article Abstract:

The Pension and Welfare Benefits Administration (PWBA) within the department of Labor is examining issues related to retirement investments. Specifically, the PWBA is looking into information needs by employees, determining that a company is meeting its fiduciary responsibility. To this end, the PWBA has developed a consumer publication to help employees understand the costs associated with plan investments.

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Investment advisory services under ERISA

Article Abstract:

The article explains how the Employee Retirement Income Security Act of 1974 applies to investment advisory services.

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