Provided by your plan administration partner:
DOL Speaks - Additional Information on QDIA's (Qualified Default Investment Alternatives)
Essential to Know:
Every Plan Sponsor with individually directed Plan Accounts should choose a QDIA fund with assistance from the Plan's Financial Advisor. (You were so advised 12-1-07 and may already have done so.)
Notices must be distributed to new Plan Participants not less than 30 days and not more than 90 days prior to eligibility, unless eligibility is immediate, then notice should be given at hire.
Fund and Fee information about the fund must be distributed along with the notice.
QDIA's may be distributed electronically. At this time, the DOL is working on further guidance regarding the distribution of Fund and Fee information. At this time, without this guidance the safe course is to offer this information in paper form.
Notices must be redistributed to all eligible participants annually, at least 30 but not more than 90 days prior to the beginning of the Plan Year.
A chosen QDIA fund must be a combination of equity and bond investments.
Actions:
If you have provided Innovative Pension with a designated QDIA, we will send you the required annual update notice at the proper time. (Send QDIA selections to )
Additional Information:
Sample QDIA Notices can be found HERE.
You can order prospectuses (Fee and Fund information) from your recordkeeper. Links to recordkeepers can be found HERE.
Q&A with specific information from the DOL is at this link: http://www.dol.gov/ebsa/pdf/fab2008-3.pdf
The original DOL Communication regarding QDIA's can be found here: http://www.dol.gov/ebsa/regs/fedreg/notices/E8-9371.pdf .
Reach Customer Service at 858-748-6500 with questions
Plan Design 858-218-3440
Contact Us
In this Announcement:
Introduction
Essential to Know: DOL Speaks
Action: What to do
Additional Info
The original DOL notice
Quick Links...
Innovative Pension
14251 Danielson Street
Poway, CA 92064
For Assistance,
Call Customer Service: 1.800.98PENSION
or email helpdesk