What must be included in the annual disclosure under the ERISA §404(a)(5) Regulations?
The annual disclosures are required to give information regarding the plan and the designated investment alternatives. The categories of items that must be included in the annual disclosures are:
- General plan information. This includes information related to investment direction, voting rights, the designated investment alternatives and their managers, and a description of any brokerage windows.
- Administrative expenses and fees. This requires an explanation of expenses and fees that can be charged against participant accounts for general plan administrative services and how those charges are allocated.
- Participant-specific expenses and fees. Required to explain expenses and fees that may be charged against a specific participant’s account.
- Designated investment alternative information. For each designated investment alternative, the disclosure must provide information that identifies the designated investment alternative, the performance data and expenses and fees, a website address that gives information related to the investment, and a glossary of terms.
This article was last updated on
August 22, 2012