The Washington Model Notice of Blackout Periods under Individual Account Plans is a disclosure document that provides important information to participants and beneficiaries regarding blackout periods in their individual account plans. Blackout periods refer to a specific period of time during which participants in retirement plans are unable to conduct certain transactions, such as buying or selling shares, or taking loans or distributions from their accounts. This notice is designed to inform participants about blackout periods in a clear and comprehensive manner, ensuring transparency and compliance with regulatory requirements. By providing this information, participants can better understand and plan for any limitations or restrictions that may affect their ability to manage their retirement accounts. The Washington Model Notice of Blackout Periods under Individual Account Plans typically contains the following details: 1. Purpose and Background: This section explains the purpose of the notice, outlining the legal requirements that mandate plan administrators to provide blackout period notices to participants and beneficiaries. 2. Definition of Blackout Period: This part of the notice defines blackout periods and elaborates on the specific types of transactions that may be restricted during these periods. 3. Types of Blackout Periods: While there may not be different types of Washington Model Notice of Blackout Periods under Individual Account Plans, this section highlights the various situations that may trigger a blackout period. These could include changes in service providers, system upgrades, mergers, acquisitions, or other significant events that need the temporary suspension of certain transactions. 4. Duration of Blackout Periods: This section informs participants how long the blackout period is expected to last. It may provide specific start and end dates or detail the circumstances under which the blackout period will be lifted. Additionally, it may outline any exceptions or alternatives available to participants during the blackout period. 5. Impact on Participant Rights: This part of the notice details the specific rights participants may be temporarily unable to exercise during the blackout period. It highlights the limitations on transactions such as loans, distributions, diversification elections, and managing the investments within their accounts. 6. Contact Information: The notice will include contact details of the plan administrator or other responsible parties who can address any questions or concerns participants may have regarding the blackout period. It is important to note that the Washington Model Notice of Blackout Periods under Individual Account Plans may vary slightly depending on the specific plan or the regulations governing it. However, the general purpose remains consistent — to provide sufficient and relevant information to participants, so they can adjust their financial planning during blackout periods and make informed decisions regarding their individual account plans.