SIFMA and 15 other organizations provide comments to the U.S. Department of Labor (DOL) and the Office of Management and Budget (OMB) regarding retirement plan fee disclosure guidance the DOL issued in May 2012. The guidance, Field Assistance Bulletin 2012-02, included answers to frequently asked questions (FAQs) relating to participant-level disclosure rules under Section 404(a) of the Employee Retirement Income Security Act (ERISA). The joint letter specifically addresses concerns with Question and Answer 30, saying the positions set forth have potentially enormous costs and adverse effects on the retirement plan system. Question and Answer 30 changes well-established law and policy regarding plan fiduciaries’ duties and imposes new requirements with respect to investment selection and monitoring.  The organizations ask the DOL to withdraw the answer, or, if appropriate, propose the requirements set forth in the answer for notice and comment.