"[T]he SEC set out standards a 401(k) plan sponsor should follow to keep its involvement from constituting an 'offer for sale' of a security such that registration would be required. Under these standards, plan sponsors should do no more than: [1] announce the existence of the 401(k) plan (sponsors may describe the self-directed 'brokerage window' as part of the investment alternatives but should take no action to draw employees' attention to the possibility of investing in employer securities); [2] make payroll deductions; and [3] pay administrative expenses, which cannot be tied to particular investments selected by employees. All communications of a soliciting nature should come from the broker."  MORE >>