Qualified Tuition Plans (529 Plans)

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March 20, 2015

Plan administrators of 401(k) and other participant-directed plans must provide participants with information about the fees associated with the plan (fee disclosures) at least annually. When the rules were first released, the Department of Labor (“DOL”) required plan administrators to provide the fee disclosures no later than 12 months after the prior fee disclosure was mailed. This rule created practical difficulties and caused each plan’s fee disclosure deadline to move over time. Yesterday, the DOL released a revised rule that corrects these issues.

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