Employee Benefits Blog

Department of Labor Issues Final Electronic Disclosure Rule

On May 21, 2020, the Department of Labor (the “DOL”) announced a final rule establishing a new electronic disclosure safe harbor. The new safe harbor permits retirement plan administrators to deliver certain plan documents by one of two methods: (1) a “Notice and Access” method; or (2) a direct email method. The new safe harbor […]

July 15, 2020 | 2 min read | Tagged: DOL, electronic disclosure, internet availability, NOIA, paper notice, plan administrator, safe harbor

Russell M. Johnson Former Associate

IRS Issues Updated Tax Notice for Qualified Retirement Plan Distributions

The Internal Revenue Service (“IRS”) recently released guidance that contains two updated safe harbor notices that retirement plans may use to satisfy the requirements of the Internal Revenue Code (the “Code”) to provide an advance notice to a participant prior to the date on which the participant receives a distribution that meets the requirements for […]

October 26, 2018 | 3 min read | Tagged: 402(f), Internal Revenue Code, IRS, model notice, Notice, safe harbor

Anne M. Meyer Partner

The IRS Significantly Increased the Availability of Mid-Year Changes to Safe Harbor Plans

Mid-year changes to safe harbor 401(k) plans have long been thought to be available in only very limited circumstances. However, the IRS recently released guidance in Notice 2016-16 that significantly increases the scope of permissible mid-year changes to safe harbor 401(k) plans. Generally, safe harbor 401(k) plan provisions must be adopted (and participants must be […]

February 22, 2016 | 3 min read | Tagged: 401(k) plan, IRS, mid-year amendment, mid-year change, safe harbor, safe harbor 401(k) plan

Kevin Hogan Former Associate