What level of communication is expected from a plan administrator regarding fees and expenses charged to participants?

Written statements are the expected level of communication from a plan administrator regarding fees and expenses charged to participants. This requirement arises from regulations that mandate transparency in retirement plan communications. Participants have a right to understand the costs associated with their retirement savings, and written statements provide a clear, formal, and permanent record of this information.

Written documentation, such as periodic statements or notices, ensures that participants can easily refer back to the details of fees and expenses associated with their accounts. This kind of communication not only fosters trust but also helps participants make informed decisions about their investments and savings strategies.

In contrast, the other forms of communication listed may not meet the regulatory standards for clarity and permanence. Verbal updates can be easily forgotten or misunderstood, while email notifications could be overlooked or lost in a crowded inbox. Social media posts, despite their broad reach, may not provide the necessary detail and formality that written statements offer, making them an inadequate method for this specific communication requirement.