Publications

Mutual Fund Summary May Satisfy ERISA Section 404 (c)
09/19/2003

On September 8, 2003, the Department of Labor (the "DOL") issued an opinion letter permitting simplified compliance with the disclosure requirements for participant-directed individual account plans, such as 401(k) plans. DOL Advisory Opinion 2003-11A ("Advisory Opinion") represents a welcome clarification of the DOL's thinking on acceptable disclosure materials under Section 404(c) of the Employee Retirement Income Security Act ("ERISA").