Please note: As of January 20, 2021, information in some news releases may be out of date or not reflect current policies.
News Release
Pension And Welfare Benefits Administration Releases Field Assistance Bulletin on “Float” Issues
Archived News Release — Caution: Information may be out of date.
Washington, DC - The U.S. Department of Labor’s Pension and Welfare Benefits Administration today released a Field Assistance Bulletin (FAB) regarding the compensation earned by service providers from short-term investments of plan assets, commonly called “float.” The FAB describes the duties of a fiduciary to prudently select and monitor service providers regarding these earnings, as well as describes the obligations of service providers to disclose sufficient information to their employee benefit plan customers to enable plan fiduciaries to make an informed decision about compensation agreements.
The FAB is part of the department’s ongoing compliance assistance program to help employers, plan officials, service providers and others comply with the Employee Retirement Income Security Act.
Field Assistance Bulletins are part of the department’s compliance assistance resources available at www.dol.gov/pwba.
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Archived News Release — Caution: Information may be out of date.