Massachusetts H2809 mandates retirement plan administrators to disclose conflicts of interest to participants.
Massachusetts H2809 requires administrators of certain retirement plans offered by political subdivisions of the state to disclose conflicts of interest to participants. Specifically, administrators must reveal the fee ratio and net return for each investment under the retirement plan, as well as the fees paid to any person providing investment advice. These disclosures must occur upon initial enrollment and annually thereafter. The bill amends Section 37b of Chapter 71 of the General Laws.
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