Archimage Posted July 14, 2022 Posted July 14, 2022 Have a client that failed to give a 30 day fund change notice to participants. From what I can tell, there is not an actual penalty prescribed by the DOL other than a plan sponsor could be held liable for a fiduciary breach. Based on this I was going to advise them to just give out the updated notice ASAP. Anything I am missing?
Bill Presson Posted July 14, 2022 Posted July 14, 2022 I don't think so. It's not too dissimilar from failing to distribute a SH notice (excluding the breach that you mention). Any chance the notice was posted on the RK site? Luke Bailey 1 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
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