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Posting information on workplace bulletin board


Guest Tammy2006
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What information?

Be specific.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Is this method still acceptable

I don't think it ever was acceptable for SARs or SMMs.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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Guest Tammy2006

How about the most recent prospectus available for the funds ? Or information regarding the new funds added to the plan?? Is this ok to be posted on the bulletin board?

thanks.

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Again, you need to be specific. Are you trying to be 404© compliant? If so, than I think you need to give the prospectus directly to the participant. If not, you can do what ever you want with it.

There are lots of Regulations and articles related to what needs to be provided and how. There are very few required communications where a simple posting is adequate.

Are you a participant or a TPA?

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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Guest Tammy2006

I am a TPA and the question is from an exam , I'm torn between 2 answers , the question is "which of the following are acceptable methods used by plan administrators to disclose information to participants and beneficiaries and one of the answers is : posting on workplace bulletin board". We always tell our clients to hand deliver or use first class mail when disclosing info to participants, but believe or not for our own plan, we just get the info on the bulletin board...so I wasn't sure if that"s ok. I guess not.

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The problem with some exams, especially more basic ones, is that you can know too much. I think I would agree that "posting on workplace bulletin board" is probably an incorrect response.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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