MarZDoates Posted July 11, 2003 Posted July 11, 2003 I have been asked by a plan sponsor if the Summary Annual Report can be posted on their company's bulletin board. I would think not. It is my understanding that each participant must be given a "hard copy" of the Summary Annual Report. Any thoughts? QPA, QKA
david rigby Posted July 11, 2003 Posted July 11, 2003 Can it? Yes. Is that sufficient? No. See DOL Reg. http://www.dol.gov/dol/allcfr/ebsa/Title_2...520.104b-10.htm "...to each participant..." 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.
E as in ERISA Posted July 11, 2003 Posted July 11, 2003 Electronic bulletin board? The regulations on electronic communications apply to SARs. If all employees use and have access to a computer as part of their job duties, then electronic delivery may work. But you can't use a kiosk for that purpose. For employees who don't have a computer and for former employees, you have to meet the notice and consent requirements. And you still have to make paper available upon request.
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