Participant directed and quarterly valued outlawed in real world?

[Jim Chad]

I have about 20 plans that are the old quarterly valuation plans. The Participants have the choice of 5 to 10 funds in the same family. They prefer this to the daily val platforms because of the lower cost. In the real world can anyone afford to set up the website that is going to be required under the new disclosure regs.

can anyone give me an estimate of what it would cost to add this to an employer's website?

Any ideas about this would be very welcome.

[four01kman]

I certainly think the fund provider would be able to help you on this; either with specifics for each plan, or a "hotlink" from the employer's website. Of course, the fund provider won't have all the information; you probably will have to supplement. Don't you love the new rules?

[Bill Presson]

I have about 20 plans that are the old quarterly valuation plans. The Participants have the choice of 5 to 10 funds in the same family. They prefer this to the daily val platforms because of the lower cost. In the real world can anyone afford to set up the website that is going to be required under the new disclosure regs.

can anyone give me an estimate of what it would cost to add this to an employer's website?

Any ideas about this would be very welcome.

Jim, at this point with the advances in software, I'm really surprised that these plans are still less expensive than a true daily plan.

[ESOP Guy]

If by chance you are using Omni+ it wouldn't be too bad after you learn how to set up an Omni+ plan for web and VRU.

I have no knowlege of other recordkeeping software and easy of getting it to communicate to a website/VRU.

Have you talked to your software vendor. It might have a system to allow you to set up a website that is tied to your recordkeeping system.

[Bird]

Jim, I understand the kind of plans you're talking about and think it will be prohibitively expensive to comply. Even plans that are with only one fund family and daily valued but not on a platform (i.e. each participant has a true retail account) are problematic at best.

[Jim Chad]

I have been working on this every weekend and I am starting to get a handle on it. As with any huge problem, the hard part is breaking it into pieces.

I think the website is going to be the biggest problem. But I don't know how big. For example one plan has 6 funds at one mutual fund family. This is a good deal because it is big enough that there are no front loads on class A shares. but they have the really low annual expenses of class A shares. We have been told we cannot just refer them to fidelity.com and call it good.

The employer has a website of course. If I give the employer's website company a copy of the investment information, maybe he can put it on a page for employees. Can anyone give me an idea of what this would cost the employer each quarter?

[Jim Chad]

I posted this on a Saturday. So I am bringing it up again. Can anyone give me an idea of the cost?

[Bird]

I'm not sure what you're asking, but if it is about the costs of an additional page on an existing website that direct cost s/b zero. I think it's just a matter of who is maintaining the site and how much they charge to put up the info. I don't believe it's a very challenging task.

[Guest benji]

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