According to a press release from the provider of defined contribution plan communications, AutoBook:
- provides all necessary information to employees who are about to be automatically enrolled in a sponsor’s plan, including opt-out instructions for plan participation, automatic deferral increase, and default investment;
- incorporates qualified default investment alternative (QDIA) notice information;
- discloses administrative, participant, and investment fees.
AutoBook is customized on a plan-by-plan basis, and users can optionally include additional information such as plan highlights and fund descriptions, Newkirk said.
Newkirk said the new booklet’s 5-by-8-inch size lowers production costs and offers potential distribution savings for providers or sponsors who mail their materials to newly eligible participants. The company is also able to print half-sized booklets.
More information is available by visiting www.newkirk.com or calling 800.525.4237.