quarterly benefit statements

[R. Butler]

Participants self-direct & under PPA must receive quarterly statements. Do those quarterly statements have to contain vesting or is it sufficeint that vesting be included on an annual statement only? If I could get a cite to the correct PPA provision that would beneficial.

Thanks in advnace for any guidance.

[Belgarath]

PPA Section 508. At least on my copy, pages 121-123 of the JCT explanation.

[blue]

What does JTC stand for?

[Belgarath]

JCT stands for Joint Committee on Taxation.

[R. Butler]

PPA Section 508. At least on my copy, pages 121-123 of the JCT explanation.

I read that to stay that vesting must be on the quarterly statements. Is that how you read it?

Thanks

[R. Butler]

PPA Section 508. At least on my copy, pages 121-123 of the JCT explanation.

I read that to stay that vesting must be on the quarterly statements. Is that how you read it?

Thanks

Never mind. I read further & as long as the participants are given the information necessary to calculate their vested benefit at least annually the requirement is satisfied.

Thanks

[Belgarath]

I'm not actually sure. I think #2 in the second paragraph of the general explanation could perhaps be read to allow reference to the SPD, for example.

As a practical matter, I suspect that the Employee Benefit Statement that is already produced (which presumably shows vesting) will form the basis for most of the new quarterly statements anyway. It is certainly safest to include this information until such time as the DOL issues regulations/model statements that permit otherwise.