ERISA 404(a) Participant Disclosure Regulation Resource Center - 4

Annual Disclosure

ERISA 404(a) Participant Disclosure Regulation Overview
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Investment–related information

Newly Eligible Disclosure

Quarterly Disclosure

REQuIRED DISClOSuRES:

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•	 Plan fiduciaries must provide a website address

For investment alternatives without a fixed rate of return: the total annual operating expense expressed both as a percentage of assets and as a dollar amount for each $1,000 invested; for investment alternatives with a fixed rate of return: the fixed annual rate of return and the term of the investment Note: this requirement does not apply to a qualifying employer security Any shareholder-type fees or restrictions on the

Communicating Changes

that gives specific additional investment alternative information. For a qualifying employer security, this includes the investment option’s objectives or goals and an explanation of the importance of a well-balanced and diversified investment portfolio.
•	 The investment-related information must

ERISA 404(a) participant disclosure regulation overview

participant’s ability to purchase or withdraw from the investment alternative, such as sales loads, redemption fees, surrender charges, round trip or equity wash provisions, etc.

be furnished in a chart or similar format to allow participants to compare investment alternative information.
•	 Thirty days advance notice of adding or

removing investment alternatives must be given to plan participants.

1

Create a disclosure reference guide customized to your plan anniversary date

The name of each investment alternative and the type or category of the investment alternative (e.g., large-cap stock fund)

Access participant education materials

A general glossary of terms to assist participants in understanding the plan’s investment options

Frequently asked questions

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ERISA 404(a) Participant Disclosure Regulation Resource Center

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