Special Notice Regarding SEC regulations on Money Market Reform

Aug 30, 2016

New Securities and Exchange Commission (SEC) rules regarding money market funds will take effect in October, 2016. The impact of these new rules is that certain money market funds will become subject to “gating” (which can limit their ability to support redemptions on a given day). As such, these money market funds will no longer be suitable investments for daily valued defined contribution plans and have been replaced with a Government equivelant that is not subject to “Gating”. An Updated 404a(5) Notice has been prepared for all applicable clients regarding this transition. To see this notice, Please visit the participant or sponsor website Resource Center.