May 16, 2012

Norma Sharara spoke on “New ERISA Fee Disclosure Rules” at the Pennsylvania Association of Community Bankers Human Resources Conference at the Holiday Inn Harrisburg-Hershey in Grantville, PA on May 16-17, 2012.  Her presentation focused on the sweeping new February 2012 final rules that become effective on July 1, 2012.  Employers must communicate the fees to participants through initial and quarterly notices and must report vendors to the US Department of Labor if the vendor fails to provide the information to the employer.  The session covered electronic delivery of notices and the consequences of failure to comply with the new rules, as well as practical considerations on how to implement the new rules.