As previously reported, the Department of Labor (DOL) recently finalized regulations on fee disclosure and retirement plans. The new regulations require that fees be spelled out so that plan sponsors and plan fiduciaries can determine if fees paid to their plan service providers are reasonable, as per existing ERISA (Employee Retirement Income Service Act) rules, and whether any conflicts of interest exist.

After four consecutive quarters of gains for U.S. stocks, the Second Quarter 2010 experienced a sharp reversal. Stocks reached their post-financial crisis peak on April 23, 2010, but by the end of the quarter the S&P 500 had given back any gains for 2010 and was down 6.7 percent for the year. Stock markets around the globe declined as concerns about the prospects of a global economic recovery intensified. The U.S. is still facing sluggish jobs growth and a faltering housing sector recovery. Misgivings about Europe’s ability to handle the Greek debt crisis, Asia’s slowing economic growth, as well as the unwinding of global economic stimulus measures, propelled a correction in international markets and also negatively impacted the U.S. stock market.