mariemonroe Posted October 4, 2012 Posted October 4, 2012 If a Plan allows participants to direct their investments on their deferrals, but the Plan trustee retains the power to direct the employer contributions (which are valued annually), is there any authority that states the quarterly statement should include the portion of the participant's account balance that is not directed by the participant?
Jim Chad Posted October 5, 2012 Posted October 5, 2012 FWIW I have never seen or heard of such a requirement. Has anyone else?
SheilaD Posted October 5, 2012 Posted October 5, 2012 FWIW I have never seen or heard of such a requirement. Has anyone else? We supply a supplemental notice that states in part ... We have attached your most recent valuation statement (as of December 31, 2010) that contains data on the following as applicable: Account balances of accounts that you do not control the investments of; and/or Life insurance cash values. This statement may also contain vesting information as of December 31, 2010. If you do not have an account balance, you will not receive a statement." We have the plan sponsor distribute it quarterly.
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