Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Copy of Overtime Primer: Highlights from the New Regulations

The federal DOL overtime regulations go into effect this year. Are you ready?

Download Now!

This report includes a summary of key changes, including the salary level test and salary basis test.

As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.

Download Now!
May 08, 2008
Revised Fee Disclosure Bill 'Worse' Than Original
The U.S. Department of Labor (DOL) and an industry organization have expressed concern about a revised version of The 401(k) Fair Disclosure for Retirement Security Act (H.R. 3185), which was recently marked up by the House Education and Labor Committee.

"Unfortunately for America's workers, retirees, and their families, the Committee-passed bill would make 401(k) fee disclosure more complex and expensive than it needs to be," said Bradford P. Campbell, assistant secretary for DOL's Employee Benefits Security Administration. DOL is working on its own fee disclosure regulations.

Larry Goldbrum, general counsel of The SPARK Institute, said the new version of H.R. 3185 is significantly different from the original version. "Our members are very concerned about this revised bill," he said. "In fact, some of them view it as worse than the original bill."

Among other things, the organization strongly opposes "all provisions that require disclosure to be made through a 'one-size-fits-all' form, in pre-determined categories, as a percentage of assets regardless of the fee structure, or that obligates a bundled provider to aggregate and present information from third parties in a single document," Goldbrum said.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
Featured Special Report:
Top 100 FLSA Overtime Q&As
Twitter  Facebook  Linked In
Follow Us
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: