Pinnacle Plan Design is able to assist employers with their ERISA § 404(a)(5) participant fee disclosure requirements in the following ways:
- Provide draft of Annual Plan-Related Information for review by Plan Administrator
- Review and consult on Annual Plan-Related Information created by another provider
- Consult regarding providing notices timely to appropriate plan participants, including supplementing mailings by another provider
- Consult regarding various methods of providing notices
Pinnacle does not provide or review any of the required Investment-Related Information disclosures (required either annually or quarterly); those are typically provided by the custodian or recordkeeper of the plan’s assets.
Near the end of each year, Pinnacle provides a reminder to its clients that the annual fee disclosure must be provided “at least annually”. For an updated definition of “at least annually”, see DOL Announces a More Flexible Annual Fee Disclosure Deadline. Because each plan will provide its annual disclosure at different times, often because of the selection of differing plan service providers, ultimately each Plan Administrator is responsible for ensuring their disclosures are provided timely.
For additional information on the retirement plan fee disclosure rules, please reference:
http://pinnacle-plan.com/resources-plan-sponsor/fee-disclosures/
http://pinnacle-plan.com/2013/11/fee-disclosures-plans-recordkeeper-platform/
http://pinnacle-plan.com/2013/11/dol-extends-annual-participant-fee-disclosure-deadlines/
http://pinnacle-plan.com/2015/04/fee-disclosure-deadline/
Contact Pinnacle Plan Design
Pinnacle Plan Design is a third-party administrator (TPA) for employer-sponsored qualified retirement plans. We specialize in retirement plan design, administration and actuarial consulting for 401(k)/profit-sharing plans, defined benefit plans, cash balance plans, and 403(b) plans. Pinnacle Plan Design proudly serves businesses nationwide.