THE PROFIT SHARING AND 401K ADVOCATESHARING THE COMMITMENT SINCE 1947
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PSCA 51st Annual Survey of Profit Sharing and 401k plans
Plan sponsor obligation to address non-English speaking
participants in the SPD
Plan sponsors please note that if a certain percentage of your participants are literate only in the same non-English language, the plan's SPD must include a prominent notice stating in those participants' own language that they can receive assistance to explain the SPD. For plans that cover fewer than 100 participants at the beginning of the plan year, this requirement applies if at least 25 percent of the plan participants are literate only in the same non-English language. For plans that cover 100 or more participants at the beginning of the plan year, the plan sponsor must provide a foreign-language notice offering assistance if the lesser of either: (i) 10 percent or more of the plan participants, or (2) 500 plan participants or more, are literate only in the same non-English language.
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