DOL Corrects Rule Implementing Electronic Disclosure Safe Harbor For Employee Benefit Plans

A correction to a DOL final rule implementing a new electronic disclosure safe harbor for certain employee benefit plan administrators was published in the Federal Register.

As previously covered, the new safe harbor allows certain employee benefit plan administrators to provide plan participants with information using electronic media as the default method of delivery. Participants who prefer paper copies of disclosures will be permitted to opt out of electronic delivery.

The final rule and the correction are effective and applicable beginning July 27, 2020.

Originally published July 02, 2020.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.