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Release Date: February 26, 2008
Contact Name: Gloria Della
Phone Number: 202.693.8664
Washington — The U.S. Department of
Labor’s Employee Benefits Security Administration (EBSA) will hold a
public hearing March 20-21, to hear testimony about its regulatory
proposal on the disclosure of service provider compensation and
conflicts of interest information to employers. The hearing will take
place at the department in Room S-4215 A-C, 200 Constitution Avenue, NW
in Washington, DC.
The proposal, published in the December 13, 2007
Federal Register, would amend the department’s regulation dealing with
the provision of services to employee benefit plans. Specifically, the
proposed regulation provides that contracts between plans and certain
service providers must include detailed written disclosures about direct
and indirect compensation that will be received by the service provider
and conflicts of interest. The department also published a proposed
class exemption to provide relief for employers when service providers
fail to comply with the regulation’s disclosure requirements.
In view of the importance of these proposals to
workers and plans, the department decided to hold a public hearing.
Persons wishing to testify at the hearing should submit an outline of
topics to be discussed by March 10, 2008 online to e-ORI@dol.gov.
Information on the hearing agenda will be posted on the EBSA’s Web
site at www.dol.gov/ebsa.
U.S. Department of Labor news releases are accessible on the
Department's Newsroom
page. The information in this news release will be made available
in alternate format upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
Department of Labor is committed to providing America's employers and
employees with easy access to understandable information on how to comply
with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
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