In the News

Title

401(k) Custodial Contracts Must Be Disclosed, Judge Says: Retirement Scan

Authors

On Wall Street

Document Type

Article

Publication Date

2-10-2016

Abstract

A federal judge ruled that a retirement plan is required under law to show the custodial agreements it forged with a service provider, if a plan participant asks for it, according to this article. The custodial agreement should be treated as a formal instrument that serves as basis for creating and operating the plan, the judge says, adding that it determines the "important aspects about the participants' benefits under the 401(k) plan and who is, or is not, responsible for the management and investment of plan funds."