Los Angeles partner Bruce Ashton spoke to PLANADVISER about the DOL's fee data proposal, which he said was “fairly straightforward, but could trigger a prohibited transaction.”

Bruce explained that when adopted, these guide requirements should make it easier for plan sponsors to find the information they need to assess whether a service arrangement and the compensation are reasonable, however, covered service providers will have to furnish a separate document that details where the plan sponsor can find required information "and plan sponsors must know that they are supposed to receive this document,” he said.

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