METLIFE RESOURCES OFFERS PLAN ADMINISTRATORS GUIDANCE ON NEW DEPARTMENT OF LABOR PARTICIPANT-LEVEL FEE DISCLOSURE REQUIREMENTS
NEW YORK, NY – July 20, 2011 – MetLife Resources today announced that it is has prepared a paper entitled, Final Regulation on Participant-Level Fee Disclosures to help plan administrators understand their new obligations regarding the communication of investment-related performance and fee information to ERISA plan participants.
“MetLife is committed to delivering timely educational programs and resources to help our clients understand what can sometimes be complicated information,” said Thomas G. Hogan Jr., Senior Vice President, MetLife. “The participant-level fee disclosure regulations give new responsibilities to plan administrators which are different from today’s general practices, and it’s important for them to understand how to comply. MetLife is publishing this guide to help our clients be fully prepared for the regulation’s effective date in 2012.”
In the guide, ERISA plan fiduciaries can find information regarding:
- Fee Disclosure Requirements
- Timing and Frequency of Communications
- Fiduciary Breaches
- Tips for Getting Ready
For a copy of the paper, Final Regulation on Participant-Level Fee Disclosures, go to www.metlife.com/mlr and download a PDF copy.
MetLife Resources is a division of Metropolitan Life Insurance Company, a MetLife company. MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com/mlr.