Quarterly Benefit Statement Requirements
Participants in defined contribution plans who have the right to direct their investments must be provided with quarterly benefit statements. Defined contribution participants who cannot direct investments must be provided with benefit statements at least annually. Some of the statement requirements are:
- Accrued Benefit Information
- The benefit statement must include the total benefits accrued and the value of each investment.
- Vesting Information
- Vesting information may be provided in each quarterly benefit statement or on an annual basis.
- Investment Principles and Reference to DOL Website
- A participant must be provided an explanation of the importance of a well-balanced and diversified investment portfolio along with information directing participants to the DOL's website for additional information on investing.