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Participant Disclosure Deadline - Are Plan Sponsors Prepared?

What’s Next for Plan Sponsors/Employers? ERISA 408(b)(2) Disclosure Deadline Has Passed Participant Disclosures Must go out by August 30th.

Due to Department of Labor Regulation 404a-5, Plan Sponsors/Employers are required to submit to every eligible employee a document, containing important fee disclosure information, referred to as IPI or Important Plan Information and a chart, which compares investment options and fees, referred to as an ICC or Investment Comparative Chart.?

Please note the following information that requires your attention:

  • Both of the documents or combined information must be distributed to all eligible employees (whether or not they are actually enrolled in the plan), beneficiaries of deceased participants, and alternate payees under QDROs who have the right to direct the investment of accounts under the plan.
  •  Please note, these documents must be distributed no later than August 30, 2012. You may print these documents and hand - deliver them or mail them. You may deliver them electronically if the following circumstances apply: computers are an integral part of an employee’s employment duties, or the employee gives consent to receive these disclosures electronically.

Karp Capital Management is working very closely with all of our clients, walking them through the disclosure process. It’s your responsibility as a plan fiduciary and we can help you stay in compliance.


Disclosure: The posted information is for informational purposes only. This message does not constitute an offer to sell or a solicitation of an offer to buy any security. All opinions and estimates constitute Karp Capital's judgment as of the date of the report and are subject to change without notice. Accordingly, no representation or warranty, expressed or otherwise, is made to, and no reliance should be placed on, the fairness, accuracy, completeness or timeliness of the information contained herein. Securities offered through Infinity Financial Services (a registered broker-dealer, member FINRA, SIPC). Infinity Financial Services and Karp Capital Management are not affiliated companies.

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