Participant Statements

[Guest TLCPension]

In a daily plan, are quarterly statements required and do they have to be provided by paper whether quarterly or annually? Also, do we have to provide fund performance on a quarterly basis?

[E as in ERISA]

Is it an ERISA 404© plans? See the requirements there about providing participants with info.

[four01kman]

Now we are dealing with with the DOL requires, and what makes sense for good communications. An annual statement is all the DOL requires. To have an effective defined contribution plan, especally one valued on a daily basis, it makes sense to provide quarterly statements. The more information a participant has, it is hoped the better educated he or she is, and the better perceived the employer is for providing the plan.

[Guest TLCPension]

We currently provide all quarterly reports and a daily report as of market the day before on our participant website. I guess in our techno-savy world, I'm looking to see if there are others out there who only report through an electronic or website basis and only physically mail a statement annually?!

[Harwood]

Ignoring 404©, I thought the only legal requirement was to provide a statement 1)upon request, limit of one request per year and 2) upon termination of employment [schedule SSA touches on this].

Of course, in the daily valuation world, the norm is a quarterly report for anyone with a balance.