quarterly participant statements and reporting

[Pammie57]

We have several small 401(k) plans whose investments are with Sterne Agee; each participant gets a monthly statement. Yet we do quarterly summaries and participant statements for them as well. Is this necessary since they do get their own statements with detail information on gains/contributions/fees?

Doesn't the plan sponsor just have to disclose annually (or possibly every 14 months now) what fees could be charged for things like distributions, loans, brokerage acct fees, etc?

I am a little confused on all the fee disclosure requirements now.

[Bird]

We do annual statements for those type of plans. I couldn't cite the details of the requirements but am confident that is enough (perhaps not necessary at all for disclosure but good practice to keep track of sources annually).

[401king]

It's possible that the institution's statements don't meet the quarterly delivery requirements, in which case you would need to send your own statements to meet the requirements.