Karoline Curran

Another question! I can't find documentation that there are penalties for late QDIA/Fee disclosure notices. I have a 09/30 plan who should have gotten both notices by today-- Nationwide is running late so they will not be received timely. The client is worried about a penalty from the DOL... Thank you!!!

Yes, the SPD does say that. Thank you!

That's what I thought, Larry, but I thought I would check. He's doing this to make things easier for the CPA, which doesn't make any sense really. As you said, I don't think it makes any difference to the CPA and so what if it did. Thanks to everyone. I will go and address it now!

Thanks everyone! Yes, I realize "ethics" wasn't the word--just couldn't think another one! Yes, BG5150, they can do non-whole dollar amounts. The document specifies either a percentage or dollar amount. But the financial advisor who is basically in charge of enrollments, makes everyone do a dollar amount.

Hello. I'm new to these message boards and have a question. I work for a small TPA firm in the Midwest. One of the financial advisors on one of my plans only allows participants to make deferrals in dollar amounts, not percentages to make it easier for the CPA who does payroll and enters the contributions into the investment house's website. Is this an issue, or is restricting them to a dollar amount not ethical.