The service also optionally supports the inclusion of required Qualified Account Contribution Arrangement (QACA), Eligible Account Contribution Arrangement (EACA), or ACA notices in the same communication.
The service offers a number of output options, including PDFs for distribution to plan sponsors for redistribution to participants and personalized notices for direct mailing to participants. In addition, content can include a mix of Newkirk’s version of notices or an uploaded version from the provider’s document system.
According to the announcement, among other information, the NewkirkOne QDIA notice includes:
- Fee disclosure information for all three types of acceptable investments: managed accounts, balanced funds, and target date funds;
- Instructions for opting out of the default investment; and
- Short-term investment option information, where such an option exists.
The NewkirkOne QACA notice includes:
- Explanation of how automatic enrollment and automatic deferral increase provisions work;
- Vesting information;
- Employer matching information;
- Opt-out instructions for participants wishing to terminate their enrollment in the plan; and
- Opt-out instructions for participants who do not wish to participate in the plan’s automatic deferral increase.
Those interested can sign up for an online presentation of Newkirk’s QDIA Service by going to http://www.newkirk.com/qdia.