Participant Statements

[Tom Poje]

so, under PPA, the participant statement for non-self directed account is to include "The value of each investment to which assets have been allocated"

what meets that requirement?

is it sufficient to say

equities 82.00%

Fixed income 13.00%

money market 5.00%

or do you have to list the $ amount, or do you have to provide an even more detailed breakdown?

[John Feldt ERPA CPC QPA]

IMHO, saying "X% equities" and/or "Y% fixed income" does not satisfy the requirement to disclose "the value of each investment to which assets have been allocated". The word "each" is the stumbling block to me. Guidance is needed.

[Tom Poje]

Since you are suppose to provide this info in a format that any common idiot can figure out, I was going to say

"Look at that useless SAR you throw away every year - it tells you the total value of the assets in the plan. Now, take out your calculator, and punch in that value. if you multiply that by the investment % you will arrive at the dollar value in the fund."

ha. in this plan, there are close to 50 different 'investment' just for the equities.

I have a new participant, received a 1700 contribution - so technically it is not even invested yet.

There is 4,000,000 in assets. over 50 investments just in equities.

so if you have to list 'each' investment for this lady's .04% of the total assets....good grief.

[masteff]

Maybe I'm being too simplistic... I'm picturing it being like the brochure we produced every year on our GIC at my last job, where we listed out the component investments inside the GIC and gave the value of each. This results in one document per plan. The individual can then determine their % of the whole.

[Bird]

In the absence of [required!] guidance we are providing a list of assets and values at the end of the year.