How to Avoid a Prohibited Transaction Under the New Fee Disclosure Rules for Service Providers....

On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA) was signed into law. As part of the CAA, the prohibited transaction rules under Section 408(b)(2) of ERISA were amended to require service providers of ERISA-covered group health plans to make certain disclosures in a way that is very similar to those required of service providers of retirement plans subject to ERISA. These changes are generally effective December 27, 2021. During the webinar we will cover which plans and service providers are impacted by the new rules, what disclosures are required, and the consequences of a failure to comply for providers and plan sponsors. The presentation will include examples and action items. This program has not been approved for continuing education credit.