Timing of the delivery of your ESOP participant statements

Here is some welcome news regarding the timing of the delivery of the annual participant statements to your participants - Extension of Period for Providing Benefit Statements for Individual Account Plans with No Participant Direction.

We were concerned that a provision of the Pension Protection Act of 2006 would have required you to provide such statements within 45 days after the end of the given plan year.  This guidance eliminates that concern.