Erik Read

To further the conversation and concept - which of these can be provided electronically, versus which are required distribution via mail? Oh - and let's add the ERISA Desk log to confirm individuals included in the correspondence in the event of a DOL audit.

I would only be concerned if the Trust's Payroll (AUP) auditor is also the Unions CPA and preparing the payroll - then they are auditing their own work.

Which industry are they participating in? There are some exceptions and some additional issues based on the industry.

Please review topic under the 401(k) board and respond - I'm trying to build a provider list. Thanks. 401(k) Board Topic Link

Nothing - boy - I figured this would start some type of discussion. I'll post a link under the General and Investment boards as well. Perhaps, like me, everyone is just scrambling to find out if they're covered or not.

So far, we've learned that Charles Schwab includes the 401(k) or employer sponsored retirement plan investments against unauthorized transactions with limitations and conditions (of course) for protection of login ID and PIN# security by the participant/investor. Wells Fargo does not cover brokerage and investment accounts in their "Online Security Policy." We're asking Fidelity, and several others, but I thought this would be a timely and appropriate topic for discussion. Have any of your clients asked for a guarantee against un-authroized transactions and distributions? Thanks.

We have a max accrural on vacation time, and someone has recently suggested that we can allow the employees who are about to lose hours of vacation time, to contribute that to the 401(k) Plan instead. Fact about the plan I think you should know- 401(k) Plan is management only, all others are subject to CBA. I know under a cafeteria plan you can buy and sell vacation time, however, you if you are going to allow employees to transfer unused $$'s to the 401(k) you have to also offer a cash out. If we offer the option to transfer at risk vacation hours to the 401(k) would we have to offer that as a cash-out as well? Thanks for any advice and or guidance links.

Depends really on how many notices your talking about. One trust that I work on has over 40,000 members that need the notice, so a mailing is fairly expensive. We're adding language to the SAR that informs them of their right to the information and how to get it.

Facts: large TH self-funded H&W arangement with over 200 participating employers an employer with more than a POP 125 plan - full FSA COBRA elections and notices? Okay - obviously the H&W and FSA are seperate trusts, would the FSA be required to offer COBRA or more specifically where can I find the regs on how to qualify for the HIPAA exemption. I'm new to H&W and FSA's - so by default also COBRA - any good links to reference sites for research would be much appreciated (not saying that BenefitsLink is not a good source). Thanks.

I'm merely saying that the TPA is not required to keep/maintain/update/draft/amend the plan document. I'm sure that a "summary" or an SPD could be used by the TPA for them to code systems and administer the plan without a document - wake up... huh - oh yeah.... right... although, I'd be very leary of that TPA were I a Plan Sponsor.

I think the question is also the fact that the reimburesment request is for the whole amount of the GC, and they are asking if the OTC med was less than the total and the member recieved cash back from the GC, then they would be reimbursed for more than their out-of-pocket actual cost for the OTC med.... right? I say you need more documentation before paying to be sure the cost of the item +tax if applicable is covered, but nothing more from the FSA. That would be like me taking a $20 MO in to pay for a $4 bottle of asprin, then requesting reimbursement for the entire MO.

Do the terms of the CBA specify the amount contributed, or do they simply state that the parties agree to be bound by the terms of the trust and make contributions as determined by said trust? If so, then your okay with a supplemental contribution or increasing the rate, if not, then you would have to look to the specifics of each CBA, and have the trust provide a period for the supplemental if neccessary, so each CBA would be subject to the new contribution at ratification for x period regardless of when the funding begins - accounting/actuary nightmare - sure, but you've gotta do what ya gotta do.

Thanks - I had not heard about the Teamsters approval. I knew they were sitting on several, just wanted to see if there had been any accepted - now it looks like there has been "one".... so might give us some hope.

Keeping in mind comments so far - I agree it's not the TPA's responsability to keep the document, however, they should have a copy at the very least. Things to consider - type of document - it very well could have been drafted by someone other than the TPA, especially if it's not a volume sub doc. I like the very last suggestion - have the client retain counsel - sounds like they're going to need it, if not just to get a document in place.

That address's one point of the many involved with 404(c ) compliance - the notices. There are SIGNIFICANT issues (in my opinion, and after hearing Fred's discussions on the topic a few times now) with an individual brokerage account, and the level of education that must be provided. I stand by the belief that if the DOL want's to make you a Fiduciary for some reason - they will, regardless of how many hoops, and how big the hoops are that you've jumped through, that said, you really have to weigh if STATEING that the plan is 404(c ) compliant is what you want to do - and subject the policies to that level of scrutiny - I'm feeling a catch22 come on.... PS - when using the (c ) be sure to space it until the fix is done otherwise you get ©