Posting information on workplace bulletin board

[Guest Tammy2006]

Is this method still acceptable to disclose information to participants ?

Thanks.

[david rigby]

What information?

Be specific.

[Guest Tammy2006]

Like SAR or SMM for example.

[Effen]

Is this method still acceptable

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

[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.

[Effen]

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?

[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.

[Effen]

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.