ERISA 404(a) Participant Disclosure Regulation Resource Center - 12

Communicating Changes

Communicating changes about your plan, investments and fee information
Annual Disclosure Newly Eligible Disclosure Quarterly Disclosure
Any time you make a change to the plan, investment options or fee information that is included in your Annual Disclosure, you must notify your eligible participants of that change 30 to 90 days in advance of the change taking effect. Here are some examples of plan changes that require advance notice: •	 Investment options added or removed •	 Changes to the plan administrative expenses your participants pay or the expense collection method you use •	 Changes to participant transaction fees or adding/removing a participant-level service that has a fee NoTE: We are in the process of creating sample templates to help you communicate changes to your eligible participants. IMPoRTANT: You must make sure to allow sufficient time to notify eligible participants of plan, investment and fee changes before the change takes effect, including when you change service providers. (Get more information on how to provide disclosure when transferring your plan to The Principal.) The regulation does make an exception to this requirement where circumstances beyond your control (e.g., certain investment option mergers) may prevent you from providing at least 30 days notice. NoTE: We will post a new version of your Annual Disclosure to our secure website at principal.com for you and your participants to view (unless you have elected not to make the Annual Disclosure viewable by your participants) on the day the change takes effect. Education workbooks will also be updated, and you will need to order a new supply of workbooks that reflect the change made.

ERISA 404(a) participant disclosure regulation overview

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ERISA 404(a) Participant Disclosure Regulation Resource Center

Table of Contents for the Digital Edition of ERISA 404(a) Participant Disclosure Regulation Resource Center