December 2019: DOL Proposes New Method for Electronic Delivery of Retirement Plan Disclosures

DOL Proposes New Method for Electronic Delivery of Retirement Plan Disclosures

The U.S. Department of Labor (DOL) published a proposed rule in October that would allow plan administrators to make retirement plan disclosures available on a website.

If the proposal is adopted, plan administrators may continue to use the existing safe harbor for electronic delivery, or to furnish paper documents by hand-delivery or mail.

The proposal would provide a new, optional method where plan administrators who satisfy specified conditions may furnish documents electronically, unless participants affirmatively opt out.

Additional articles from the December 2019 edition of the Univest Employee Benefits Newsletter:

1. FSA Contribution and Other Benefits Limits Rise for 2020
2. 6 Steps for a Sublime Seasonal Shindig
3. How to Conduct 1-on-1 Benefits Meetings