In general
The requirements of this subparagraph are met if, within a reasonable period before each plan year, each employee eligible to participate in the arrangement for such year receives written notice of the employee’s rights and obligations under the arrangement which—
(I)#
is sufficiently accurate and comprehensive to apprise the employee of such rights and obligations, and
(II)#
is written in a manner calculated to be understood by the average employee to whom the arrangement applies.