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automatic enrollment notice

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4 replies to this topic

#1 Tom Poje

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Posted 14 November 2007 - 03:33 PM

does anyone have a sample?
I've dummied up a safe harbor notice the best I can, looking for any comments if I have missed anything, etc.
the highlighted parts pertain to the auto enroll requirements (unless as I say I have missed something. )
If I wait for the govt, well it might be forever.

#2 Tom Poje

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Posted 16 November 2007 - 07:20 AM

the sample language for automatic enrollment ws released by the IRS yesterday, and looks like the following.
(Guess I need to modify my initial attempt a little, [still, I should be able to get a form to be produced out of Relius])

now my goal is to get it to 4 pages

#3 John Feldt ERPA CPC QPA


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Posted 16 November 2007 - 10:33 AM

What do you think will satisfy this part:

"You must describe the Planís QDIA, including its investment objectives, risk and return characteristics..."

This will be specific to the default fund - I'm thinking we may need something like a morningstar report and and perhaps have the notice refer to that?

#4 Tom Poje

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Posted 19 November 2007 - 07:04 AM

I agree with you. with lack of any other example, I am going to include the Return and Risk described on the Morningstar disclosure, along with the investment strategy/category description, and also the brief composition of the portfolio analysis.
I only have one at the moment, a non-safe harbor, and have managed to squeeze it all into 3 pages.

#5 four01kman


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Posted 19 November 2007 - 01:55 PM

You also may have to send a copy of the prospectus, if you are using a single fund; or several, if there are multiple funds. Or, in the absence of mutual funds, a "detailed" explanation of how the investment works.
Jim Geld