Faegre Drinker Biddle & Reath LLP recently issued the following announcement.
The U.S. Department of Labor (DOL) has issued final electronic disclosure rules for retirement plans, creating a new safe harbor (the 2020 Safe Harbor), which promises to expand the availability of electronic disclosure and make distribution more cost-effective. The 2020 Safe Harbor does not replace the current safe harbor rules for electronic distribution of ERISA-required disclosures; instead, it gives retirement plans another, more economical way to comply with ERISA’s disclosure requirements. Join Faegre Drinker benefits and executive compensation attorneys as they take a deep dive into the 2020 Safe Harbor and provide practical tips for employers and plan administrators to take advantage of the opportunities offered by the new rules.
Topics will include:
“Lay of the Land” regarding ERISA’s electronic disclosure rules for all ERISA plans
Scope of the Safe Harbor (preview: it only applies to retirement plans, not to welfare plans)
Requirements to take advantage of the 2020 Safe Harbor
Technology issues – managing a listserv, notifying ex-employees
Litigation and risks of noncompliance How a change in administration might affect electronic disclosure rules
Practical pointers, best practices and opportunity for Q&A
Date: September 29, 2020
Original source can be found here.