Department of Labor, Employee Benefits Security Administration: Reasonable Contract or Arrangement Under Section 408(b)(2)--Fee Disclosure
GAO-10-959R: Aug 2, 2010
- Full Report:
GAO reviewed the Department of Labor, Employee Benefits Security Administration's (EBSA) new rule on reasonable contract or arrangement under section 408(b)(2)--fee disclosure. GAO found that (1) the interim final rule requires that certain service providers to employee pension benefit plans disclose information to assist plan fiduciaries in assessing the reasonableness of contracts or arrangements, including the reasonableness of the service providers' compensation and potential conflicts of interest that may affect the service providers' performance; and (2) EBSA complied with applicable requirements in promulgating the rule.