Nova 401(k) Associates
Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
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|40 Former Employee-Participants Didn't Get a Blackout Notice|
BenefitsLink Message Boards
July 29, 2021
"We found out recently that when we changed plans we did not provide the blackout notice to non-employee participants (former employees). By the time we corrected the error the new plan was up and running. Do you have experience with this or could you recommend any steps to take? I've seen the $131/day penalty which gets a little pricey when there were about 40 people who didn't get the notice!"
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