The West Virginia Model Notice of Blackout Periods under Individual Account Plans is an important document that provides participants and beneficiaries with essential information about their retirement plans. This notice serves as a notification of blackout periods, which refers to a temporary period during which participants are unable to access or direct their investments in the Individual Account Plans. The purpose of this notice is to inform participants about blackout periods that could potentially impact their ability to make transactions involving their retirement assets. It aims to ensure transparency and to comply with federal regulations such as the Employee Retirement Income Security Act (ERICA). There are several types of West Virginia Model Notices of Blackout Periods under Individual Account Plans: 1. General Blackout Notice: This type of notice provides a comprehensive overview of blackout periods applicable to all participants and beneficiaries of the Individual Account Plans. It includes information about the start and end dates of the blackout period, reason for the blackout, and details regarding the impacted investment options. 2. Participant-Specific Notice: In cases where blackout periods affect only specific participants or groups, participant-specific notices are issued. These notices are tailored to individuals or groups facing restrictions, keeping them informed about the blackout dates and the reasons behind the limitations. 3. Plan Amendment Notice: If any amendments are made to the established blackout periods, a plan amendment notice is issued. This notice highlights the changes made, the reasons for the modifications, and any implications it may have on participant transactions during the revised blackout period. 4. Exceptions Notice: On certain occasions, exceptions or exemptions may be granted to participants or groups during blackout periods. An exceptions notice specifies the criteria and conditions for participants to qualify for the exemptions, along with the procedures they need to follow to avail themselves of this opportunity. 5. Final Blackout Notice: When a blackout period is about to conclude, a final blackout notice is sent to participants. This notice informs them about the expiration of the blackout period, restoring their ability to resume investment transactions. Participants and beneficiaries are strongly advised to carefully read and understand these West Virginia Model Notices of Blackout Periods under Individual Account Plans. It is vital for them to comprehend the limitations imposed during these blackout periods and to plan their financial activities accordingly. Please note that while the descriptions provided above serve as general examples of West Virginia Model Notices of Blackout Periods under Individual Account Plans, it is essential to refer to the specific notice provided by your retirement plan administrator to ensure accurate and up-to-date information.