Close X
Attorney Spotlight

What colorful method does Claire Miley use to keep up with the latest healthcare regulations as they relate to proposed transactions? Find out more>

Search

Close X

Experience

Search our Experience

Experience Spotlight

On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

CLARCOR
Close X

Thought Leadership

Enter your search terms in the relevant box(es) below to search for specific Thought Leadership.
To see a recent listing of Thought Leadership, click the blue Search button below.

Thought Leadership Spotlight

Securities Law Exchange BlogSecurities Law Exchange blog offers insight on the latest legal and regulatory developments affecting publicly traded companies. It focuses on a wide variety of topics including regulation and reporting updates, public company advisory topics, IPO readiness and exchange updates including IPO announcements, M&A trends and deal news.

Read More >

DOL Extends Deadline For Service Provider Fee Disclosure

Publications

February 3, 2012

Yesterday, the U.S. Department of Labor issued final rules regarding disclosure of 401(k) retirement-plan fees by plan service providers. Under prior guidance, the effective date for the disclosures was April 1, 2012. The final regulations issued today extend this date by three months to July 1. Service providers not in compliance as of July 1, 2012, will be subject to the prohibited transaction rules and penalties of ERISA and the Internal Revenue Code.

The fee disclosure rules apply to covered service providers that work with 401(k), 403(b), and all other ERISA retirement plans, such as investment managers and prototype plan administrators. These service providers must disclose to employers the specifics about fees charged for services, including those for money management and retirement plan administration.

Employers are reminded that the final regulation’s new July 1 effective date will also affect when fee and investment disclosures must first be furnished to plan participants. The transition rule for disclosures to participants requires the disclosures to be made within 60 days of the effective date for disclosures by service providers. Consequently, employers with calendar year plans must furnish the information no later than August 30, 2012 (i.e., 60 days after the July 1 effective date). The first quarterly statement must then be furnished no later than November 14, 2012 (i.e., 45 days after the end of the quarter during which initial disclosures were first required). The quarterly statement need only reflect the fees and expenses actually deducted from a participant’s account during the quarter to which the statement relates.

If you have questions regarding the information in this client alert, or with respect to other legislation as it relates to your employee benefits plans, please contact any of the attorneys in our Employee Benefits Practice Group.


In Case You Missed It:

Related Services

Notice

Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.