Pooled Plans - Value of Investmetns on Statements

[austin3515]

IT seems to me very clear that a pooled profit sharing plan is required to disclose to participants the value of each investment held by the Plan under PPA. ARe people doing this? I'll be honest, I have not. I have some pooled plans where the list would be pages long... I've also taken over other pooled plans and never seen anyone else doing this.

[K2retire]

I haven't worked on pooled plans since PPA, so I realize the rules may have changed. We always provided a complete list of the year end market value of investments to the plan sponsor with instructions to make it available to participants on request.

[Bird]

Yes, we are doing it; PPA requires it. I doubt you are alone in not doing it. PPA also said the DOL was to issue regs on this within, I think, 6 months, and we're still waiting, so I don't know if they can enforce it with a straight face.

We are (I am) old school and we reconcile every transaction in our pooled accounts. So we have the data readily available to tweak into a list of assets; it's not that big of a deal for us.

[Jim Chad]

FWIW I am doing it, also. One pleasant surprise is the bnak and brokerage houses we use for these have all gotten good at giving us a list of assets that is fewer pages than it was the first year.

[ESOP Guy]

We do it here. For some we make copies of the brokerage statement. The asset list can be almost an inch of paper. I have a hard time believing this is what they had in mind. But it seems to be the literal rule.