Distribution Services
New Pinnacle Consulting Group’s Distribution Services will allow you to outsource the distribution of required annual notices to us. The package fee includes all material and postage. This includes:
The Universal Availability Notice
Eligible employees must be given an ‘effective opportunity’ to participate in the plan or to make or change elections. This notice must be provided at least once during a plan year.
Summary Annual Report (SAR)
Within nine months after the close of the plan year, a summary of IRS Form 5500 must be distributed to all participants.
Annual Fee Disclosure
This disclosure is sent to eligible employees providing an explanation of plan level and individual level fees, investment past performance, shareholder fees, and expense ratios.
Qualified Default Investment Notice
This is an annual notice required to be sent 30 days prior to the end of the plan year. Newly eligible employees should receive the notice 30 days prior to eligibility date.
Summary of Material Modification (SMM)
Plans adopting new amendments which materially change the plan must notify participants of these modifications.
Other required notices or disclosures
These notices may include (but are not limited to), safe harbor notices, automatic enrollment notices to eligible participants and Summary Plan Descriptions [SPD].
How Does It Work?
We will provide a template requesting the name and work email address for current employees eligible for the plan. That’s It!
We will pull all of the other required data from the vendor. After each distribution is completed, we will provide a copy of the notice and distribution list for your
records.