Helping Your Meet Your Annual Notice Requirements

Helping You Meet Your Annual Notice Requirements

Presented by: Elizabeth Maglione, Director, Conversions Ben Healy, AVP, Operations

Save the Date UPCOMING EVENTS October 28, 2015 Private Exchanges – The Future of Health Insurance? [Webinar] November 5, 2015 Lunch & Learn – Discover What Matters Most to Today’s Plan Sponsor [Live Event] All webinars are held 2:00-3:00 EST. Register in “Webinars & Events” under “For Companies” at www.sentinelgroup.com

What we’re going to cover today • Responsibilities of Plan Sponsors

• Regulations regarding delivery

• What will Sentinel Benefits provide electronically?

• How can Sentinel Benefits help you meet the requirements?

What are your annual notices? • Participant Fee Disclosure – i.e. 404(a)(5)

• Qualified Default Investment Alternative (QDIA) Notice

• Safe Harbor Notice

• Automatic Enrollment Notice

Who must receive these notices? • Current employees who are participating, or eligible to participate in the

retirement plan

• Beneficiaries who are the primary account holder

• Former employees with a balance in the retirement plan

DOL approved types of delivery • Electronic

– Available for participant’s that have internet and email access for their day-to-day work activities

• Paper – Mailed to each participant’s home address or handed out at the workplace

• Each participant must receive an individual copy. Copies of notices may not be

posted in a common area (i.e. lunchroom) to fulfill requirements

How we prepare your annual notices • We will produce all applicable notices for your Plan, and combine them

into one packet

• You will have access to an electronic PDF of the annual notices

• On Nov 6th an email will be sent to you to notify you that the notices are available on the web.

• It is the responsibility of the Plan Sponsor to distribute these notices to participants, but we’re here to help!

What wil l your annual notices look like? • Dynamic cover letter

What wil l your annual notices look like? • Dynamic cover letter

• Plan Information & Expenses

– 404(a)(5)

What wil l your annual notices look like? • Dynamic cover letter

• Plan Information & Expenses

– 404(a)(5)

• Fund Report – Plus applicable fact sheets

What wil l your annual notices look like? • Dynamic cover letter

• Plan Information & Expenses

– 404(a)(5)

• Fund Report – Plus applicable fact sheets

• QDIA Notice

What wil l your annual notices look like? • Dynamic cover letter

• Plan Information & Expenses

– 404(a)(5)

• Fund Report – Plus applicable fact sheets

• QDIA Notice

• Safe Harbor Notice

What wil l your annual notices look like? • Dynamic cover letter

• Plan Information & Expenses

– 404(a)(5)

• Fund Report – Plus applicable fact sheets

• QDIA Notice

• Safe Harbor Notice

• Automatic Contribution

Arrangement

Our Fulfillment Solution

What is Sentinel’s fulf il lment service?

Prepare Notices

Publish Electronic PDF to Plan Sponsor Portal

Print Notices for Each Participant

Mail Notices to Participant Addresses

Send Acknowledgement Letter to Plan Sponsor

Save Acknowledgement

Letter

Your Responsibility Sentinel’s Responsibility

Sign Up, Tell Sentinel Who

• All Participants

• Segment of Participants

Flexibility – You Choose Who

Select your data collection method:

• Option 1 – Sentinel uses the participant information on file

(only available to plans where Sentinel is the recordkeeper) • If your unsure if this option is available to you contact your Plan Consultant

• Option 2 – Email Sentinel Benefits a listing of employees to receive the mailed package

• Run your “Participant Demographics Data” report online OR complete the “Participant Address Template” in Microsoft Excel

• Email the file to your Sentinel Plan Consultant by November 17th

What are the big benefits? • Timing is everything!

• One package containing all required notices

• Help meeting your requirements

• Flexibility – all participants or a segment; you decide

• Peace of mind at audit time

C ost and Payment # of Recipients Less than 100 100-250 250-500 500+

Cost per Package*

$5.95 $4.95 $3.95 $2.95

Minimum price per order is $100, not including postage. Custom printing options are available as a professional service *The rates above do not include the cost of postage, which will be added to the order.

• Sentinel Benefits will add the cost of fulfillment to your next quarterly invoice as an additional expense.

– This fee is considered an eligible plan expense and may be paid either from plan assets or by the employer.

How do you sign up?

You should have received an email “Don’t let your annual notices slow you down” on September 30th with information about our service.

You may contact your Plan Consultant to initiate an order for you.

You may sign up directly at: http://marketing.sentinelgroup.com/acton/media/3471/notice-fulfillment

In Summary... • If you would like to use the fulfillment service, let us know by November 17th.

• On November 6, 2015 all Plan Sponsors will be emailed that their annual notices are available through the Employer Portal at www.sentinelgroup.com/employerlogin

• All notices must be delivered to participants by December 1, 2015 (for plan years ending on 12/31/2015)

• An acknowledgement letter will be provided to you for your records for any fulfillment handled by Sentinel Benefits

Questions?