Get 404c And 404a-5 Checklist - Washington Financial

Employee Fee Disclosure - 404(a)(5) ERISA Section Under 404(a)(5) requires 401k providers to disclose how much employees personally pay each quarter.

ERISA §404(c) provides a plan sponsor and other fiduciaries with liability protections on participant-directed retirement plans, like a 401k, if the plan satisfies the conditions in the 404(c) regulations.

Participants must be provided with the same information as other shareholders. Voting, tender, and other rights must be passed through to participants. Confidentiality of the purchase, holding, or sale of employer securities, as well as the exercise of voting, tender, or other shareholder rights, must be maintained.

While 401(k) and 403(b) plans have the same general contribution limits, 403(b) accounts have an edge: Employees who have worked for a qualified organization for 15 years or more may be eligible to make additional contributions.

Section 404(c) is a specific part of this law that permits employees to direct the investment of their own retirement accounts. An employee may want to direct their own retirement account so they can control how much of their savings are being invested into what types of companies.

Section 404(c) is a specific part of this law that permits employees to direct the investment of their own retirement accounts. An employee may want to direct their own retirement account so they can control how much of their savings are being invested into what types of companies.

Employee Fee Disclosure - 404(a)(5) ERISA Section Under 404(a)(5) requires 401k providers to disclose how much employees personally pay each quarter.

The main difference between a 403(b) and 401(k) is the type of employer who offers them. 401(k) plans are offered by private, for-profit companies. 403(b) plans, on the other hand, are offered by tax-exempt and nonprofit organizations.