QDIA notice and mapping

[K2retire]

If a plan changes its QDIA fund mid-year, and a notice of the change, information about the new fund and mapping plans is sent to all participants, is a new QDIA notice also required?

[rcline46]

if you don't have a new QDIA notice, what are you going to give new participants - a bad notice?

[K2retire]

Sorry, I should have explained my question better. All participants receive a notice of the funds that are changing and which dropped fund is mapped to each new fund. But that notice has not typically talked about whether or not a particular investment is a default fund. My question is if that notice is sufficient for exisiting participants who are in the default fund, or if they also need an updated QDIA notice before the next annual QDIA notice.

[John Feldt ERPA CPC QPA]

If the original notice named the fund (or funds) for the QDIA, or stated something that is now outdated due to the change being made to switch the default fund, then I would think you should provide the an updated notice, preferrably 30 days in advance of the change.