BG5150 Posted January 21, 2015 Posted January 21, 2015 I know that new participants should get a QDIA Notice. Also, those who are already defaulted get one. What about eligible people who have no account balance? Do they get a Notice every year? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Lou S. Posted January 21, 2015 Posted January 21, 2015 I'd say technically they are supposed to get it. However, there is little to no liability exposure in not giving it to them since they have no account balance you can't really have a fiduciary breech for not investing their $0 properly. The downside risk is a 0% contributor changes their election after the QDIA notices are sent but gets defaulted into the QDIA when they start their contributions.
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