October 11, 2012

Notice Reminders: Medicare Part D and Participant Level Fee Disclosure Statements

Provide Medicare Part D Notices by October 14th

The Medicare Part D enrollment period is October 15 through December 7, 2012. Therefore, all Medicare Part D notices of creditable or non-creditable coverage must be provided prior to October 15, 2012.

  • Model Individual Creditable Coverage Disclosure Notice Language (English or Spanish)
  • Model Individual Non-Creditable Coverage Disclosure Notice Language (English or Spanish)

Participant Level Fee Disclosures 

Participant-directed retirement plans, including 401(k) plans and 403(b) plans subject to ERISA, are required to disclose certain plan information to participants relating to fees associated with the plan.   There are two types of participant level fee disclosures: one is an annual disclosure and one is a quarterly disclosure. 

  • For calendar year plans, the initial annual disclosure of plan-level and investment-level information, including associated fees and expenses must have been furnished to participants by August 30, 2012.
  • The first quarterly statement must be furnished to participants no later than November 14, 2012.  The quarterly statement need only reflect the fees and expenses actually deducted from the participant's account during the quarter to which the statement relates. 


The information contained in this Benefit Beat is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations.

As required by U.S. Treasury rules, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this Benefit Beat is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service.

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