Non ERISA plan and fund change notice

[30Rock]

What are the fund change notification requirements for a plan not subject to DOL ERISA rules? Is it a matter of state law?

 

Thanks!

[QDROphile]

Whatever the plan and related policies say.  The matter is strictly contractual, assuming that the plan is subject to ERISA ("not subject to DOL ERISA rules" does not mean suject to ERISA) or not a government plan.  A government plan would be subject to state law.

[30Rock]

Yes the plan is governmental 

[Peter Gulia]

For a governmental plan, the lawyer who regularly advises the plan's fiduciary should be ready to say which State statute governs.

Beyond whatever State law might or might not provide, some recordkeepers' service agreements require a minimum notice as a condition to the recordkeeper's obligation to perform its services concerning a change of investment alternatives.

[30Rock]

Thank you all!