IRA Rollover

Posts Tagged ‘employer stock’

404c ERISA requires the following be delivered to all retirement plan participants:

• A written explanation that the plan is intended to comply with ERISA Section 404c and that the 401k Retirement Plan ’s fiduciaries may be relieved of responsibility for investment performance as a result of investment choices made by the retirement plan participant. 
• A description of the available investment choices under the plan including a general description of the investment objectives and characteristics of each investment, as well as the names of investment managers.
• A description of transaction fees and investment expenses in connection with purchases or sales.
• If an employer stock fund is offered, a description of the procedures established to provide for confidentiality concerning participant and beneficiary holdings, the pass-through voting or tendering of shares and the name, address and telephone number of the person responsible for monitoring compliance with these procedures.
• Upon initial enrollment, participants must be provided with the most recent prospectus for each investment alternative.

404c ERISA requires the following information be available upon request

• A description of the annual operating expenses of each investment alternative (for example, management fees, administrative fees, transaction fees) including past and current net investment performance. 
• Copies of financial statements and reports as well as other material relating to the investment alternatives being offered.
• A list of assets in each investment alternative.
• The value of shares in each participant’s account for each investment choice.