Quarterly Benefit Statement – Include Vesting or Not?

A interesting debate has started on BenefitsLink.com about the contents of the new quarterly benefit statements required by PPA Section 508. The question is whether the quarterly benefit statements must include vesting information, or can it be provided to participants annually instead of quarterly? This is important because the first quarterly benefit statement must be provided to participants by May 15th. If vesting information is only required to be provided annually, then the first vesting information does not need to be provided until February 14, 2008. After rereading Section 508, it does provide for an alternative notice to be provided annually. More on this on Monday. [tags]Pension Protection Act, benefit statement, vesting, ppa[/tags]