A statement that the plan intends to comply with 404(c). The statement should also include the following:
- An explanation that fiduciaries may be relieved of liability
- A description of each investment option in the plan, including a general description of the investment objective and risk and return characteristics, the name of the fund manager(s) and information about the portfolio's diversification of assets
- Instructions on how participants can direct their investments including any limitations or restrictions and penalties related to transferring between funds
- Description of all participant fees and expenses
- Description of plan materials concerning the exercise of voting rights
Information to be Provided Upon Participant Request
- A complete description of all the fees associated with the plan.
- Copies of prospectuses and financial statements related to the investments
- A list of the assets comprising the investment portfolio
- The value of the shares held in the participants accounts
For More Information about 404c:
http://www.401khelpcenter.com/cw/cw_404c.html
Please note that neither Blue Prairie Group nor ADP can provide you with legal advice regarding your fiduciary duties under ERISA. This article and those following are not intended to constitute or be relied on as legal advice, but a description of applicable principles. Please consult with your attorney for legal advice on matters contained in these articles.
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