401(k) plan sponsors have to manage many various disclosure requirements under ERISA. Betterment for Business provides plan sponsors with the necessary disclosures related to our services when you need them.
- Safe Harbor Notice: Provides advance notice about Safe Harbor
- Automatic Enrollment: Provides advance notice about automatic enrollment contributions
- QDIA Notice: Explains default investment selection options
- Fee Disclosures: Explains costs associated with plan participation
- Blackout Notice: Informs participants when there is a “blackout period”, i.e. when their company converts to a Betterment for Business 401(k) and they are temporarily restricted from investment changes or withdrawals from their account with their prior provider
- Summary Annual Report: Summarizes account activity and benefits accrued during the year
- Summary Plan Description: Explains how the plan operatesSummary of Material Modifications: Explains any significant changes that are made to the plan (required only if changes are made)