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ARTICLE · 06 JUNE 2020

DOL Finalizes Electronic Disclosure Rules For Retirement Plans

Holland & Knight
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The U.S. Department of Labor (DOL) announced final rules to allow plan sponsors to post retirement plan disclosures online or deliver them to plan participants by email.

United StatesEmployment and HR
Holland & Knight
Holland & Knight
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Highlights

  • The U.S. Department of Labor (DOL) announced final rules to allow plan sponsors to post retirement plan disclosures online or deliver them to plan participants by email.
  • The final rules are expected to significantly reduce the costs related to providing recurring and expensive disclosures as well as improve the effectiveness of the disclosures themselves.
  • The new safe harbor gives retirement plans another way to comply with disclosure requirements set forth in the Employee Retirement Income Security Act of 1974 (ERISA).

The U.S. Department of Labor (DOL) announced final rules to allow plan sponsors to post retirement plan disclosures online or deliver them to plan participants by email. The final rules, published on May 27, 2020, are expected to significantly reduce the costs related to providing recurring and expensive disclosures as well as improve the effectiveness of the disclosures themselves. The new safe harbor does not

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