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Action required: Fee disclosure requirements for …
May 2017 Action required : Fee disclosure requirements for ERISA 403(b) plansDear plan Administrator, The Department of Labor fee disclosure regulations require full transparency for employer-sponsored retirement plans. Service providers (Vanguard) and plan sponsors (you) each have responsibilities and need to take Action to comply with the regulations. Vanguard strongly supports fee transparency and is committed to promoting cost consciousness. When plan sponsors and participants understand the costs associated with retirement plans and the potential impact those costs have on investment returns over time, they can make informed decisions about their investment and service summary of your responsibilities Review Vanguard s summary of plan services and fees. As a service provider, Vanguard must furnish a summary of plan services and fees to plan sponsors.
This document provides important updates to the list of Vanguard funds offered by your 403(b) plan. The Employee Retirement Income Security Act of 1974 (ERISA) requires plan sponsors to act prudently and solely
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