Jim Chad Posted July 11, 2012 Posted July 11, 2012 I just printed the 404a disclosure including glossary from Great West and it is 42 pages! By using the ASPPA Glossary, I can reduce it all the way down to 36 pages! I expect some clients are not going to be pleased when I tell them to make copies and distribute to all of their employees. Some will probably ask "What happens if I don't do this?" What are you all going to tell them?
Bird Posted July 11, 2012 Posted July 11, 2012 Not 100% sure, but I think it is - no 404© protection. Kind of like walking through a red light in NYC. Most of the time, no consequences, but you run some risk of a cab hitting you. (A participant who lost $50,000 can sue you for not giving enough info.) I dunno, if someone has a better analogy, let me know, it might help to explain it. It's hard because we're all jumping up and down but if someone asks "what's the big deal" then you hem and haw about what happens if you don't comply. Ed Snyder
four01kman Posted July 11, 2012 Posted July 11, 2012 Electronic distribution certainly helps. The issue of course is getting individual emails from each eligible participant. Jim Geld
Jim Chad Posted July 11, 2012 Author Posted July 11, 2012 Can someone tell me where I can find the details of the current rules for electronic distribution?
cpc0506 Posted July 13, 2012 Posted July 13, 2012 Can someone tell me where I can find the details of the current rules for electronic distribution? I was under the impression that you COULD NOT use company email addresses and had to use personal addresses. And you also had to send an initial request to the personal address it see if it is ok to send the notices to their personal email address.....
BG5150 Posted July 13, 2012 Posted July 13, 2012 I was under the impression that you COULD NOT use company email addresses and had to use personal addresses. And you also had to send an initial request to the personal address it see if it is ok to send the notices to their personal email address..... You can use workplace e-mail, but they have to be voluntary given. DoL website: http://www.dol.gov/ebsa/newsroom/2011/ebsa091311.html Links to: http://www.dol.gov/ebsa/pdf/tr11-03.pdf The stuff is a year old, but I can't find anything more recent. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now