6/23/2009 Introduced. This legislation amends the ERISA rules (that govern retirement plans) to keep the relationship between the employer and the plan provider at an arm’s length. It will provide special reporting and disclosure rules to make fee structures more transparent to the participants. The bill limits the services that can be offered, the types of funds that can be used and the advice that can be offered. It also extends by 5 years the timeline for certain unfunded plans.
This bill might be popular with participants because it provides more disclosure and also additional lower fee options including index funds.
