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What will participants see on their quarterly statements?

All fees that are deducted directly from a participant’s account during the quarter will be reflected on their statement. This will include such items as fees for loans, distributions, fees for recordkeeping, and any other fees associated with plan administration (i.e. investment advisory, trustee/custody, etc.)

What will the annual notice contain?

Each year, participants must receive information on the costs associated with the investments in the plan. The annual disclosure will contain information including management and investment fees charged by the funds, investment performance, and the cost for each $1,000 invested in the funds. Additionally, the website indicates where employees can access information about the funds which must be included.

How will the annual disclosure information be delivered?

The most common form of annual disclosure delivery will be printed materials, which will be mailed. The annual disclosure can be delivered electronically, however, current Department of Labor guidance makes it difficult to use email as a delivery method.

Annual Compensation and Contribution Limits for Qualified Retirement Plans

2019 2018
401(k) and 403(b) Deferral Limit 19,000 18,500
457 Deferral Limit 19,000 18,500
401(k), 403(b), 457 Catch-up Contribution Limit 6,000 6,000
SIMPLE Deferral Limit 13,000 12,500
SIMPLE Catch-up Contribution Limit 3,000 3,000
Annual Compensation Limit 280,000 275,000
Defined Benefit 415 Limit 225,000 220,000
Defined Contribution 415 Limit 56,000 55,000
Dollar Limit for HCEs 125,000 120,000
Dollar Limit for Key Employee 180,000 175,000
Social Security Taxable Wage Base 132,900 128,400

Annual Compensation and Contribution Limits for Qualified Retirement Plans

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2019 2018
401(k) and 403(b) Deferral Limit 19,000 18,500
457 Deferral Limit 19,000 18,500
401(k), 403(b), 457 Catch-up Contribution Limit 6,000 6,000
SIMPLE Deferral Limit 13,000 12,500
SIMPLE Catch-up Contribution Limit 3,000 3,000
Annual Compensation Limit 280,000 275,000
Defined Benefit 415 Limit 225,000 220,000
Defined Contribution 415 Limit 56,000 55,000
Dollar Limit for HCEs 125,000 120,000
Dollar Limit for Key Employee 180,000 175,000
Social Security Taxable Wage Base 132,900 128,400