You are receiving this Fee Disclosure Notice because the sponsor of a 401(k) plan in which you are enrolled has engaged us, Plan Notice LLC d/b/a Plan Notice (“Plan Notice”), to assist it in (1) providing required notices to the participants in the plan, (2) ensuring that the plan has current contact information for the participants, and (3) carrying out steps to locate missing participants. As a service provider to your plan, we want you to understand our services, including our fees and costs. Therefore, we encourage you to review and retain this Fee Disclosure Notice.
We assist the sponsor of your 401(k) plan in meeting its compliance responsibilities by distributing/disseminating required notices prepared by the sponsor to the participants in the plan and in locating participants with whom the plan is having difficulty communicating (“missing participants”). We provide our services to all plan participants. We disseminate plan notices and verify participant contact information for both active (i.e., employed) and non‐active (i.e., terminated) participants in the plan. Your plan sponsor has selected this service. Our fees are charged directly to participant accounts in the plan.
Our Basic Administrative Service of disseminating plan notices and verifying participant contact information is provided for the plan and its participants at no cost. However, Plan Notice charges fees to assist the plan in locating missing participants. Specifically, when a participant does not verify their contact information or confirm receipt of plan updates, we conduct outreach efforts to ensure that the plan has current contact information for its participants.
We conduct two different phases of searches for missing participants. Phase 1 seeks to locate missing participants via direct outreach over email, text messaging, first‐class mail, phone calls, social media direct messages, and certified mail, as necessary. If those efforts are unsuccessful, we then conduct a Phase 2 search by contacting the missing participant’s designated beneficiary(ies) under the plan using the same outreach methods as Phase 1.
$2 Per Participant
Per quarter
$95.00 Per Participant
One‐time. May only apply to some participants
$200.00 Per Beneficiary
One‐time. May only apply to some participants
For clients of LT Trust, a Division of American Trust, additional fees are only applicable if the Plan Sponsor elects to escalate unresponsive participants.
