DOL has finalized a Notice and Access safe harbor for certain required disclosures to participants and beneficiaries of retirement plans. Employers may effectively rely on this safe harbor immediately. The safe harbor allows employers to provide more disclosures to more participants and beneficiaries via electronic means that was previously permissible. In addition to other requirements,

The Internal Revenue Service recently issued a pair of notices to provide relief to participants in and sponsors of Section 125 Cafeteria Plans, health flexible spending account plans, and dependent care assistance programs. IRS Notice 2020-29 provides relief for midyear election changes (including new health plan coverage elections, enrollment changes, and revocations, as well as

On Friday, May 1, 2020, the U.S. Department of Labor (DOL) issued revised model general and election notices that can be used by plan administrators to address the notification requirements imposed by the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). FAQs for the COBRA Model Notices were issued the same day. DOL’s FAQs provide

The U.S. Departments of Labor, Treasury, and Health and Human Services have issued a joint notice that modifies certain benefit plan notice, reporting, and election deadlines imposed by ERISA and the Code. In addition, DOL’s Employee Benefits Security Administration and the Pension Benefit Guaranty Corporation, have issued additional short-term relief. The following update summarizes these