Electronic Delivery of Participant Disclosure Notices
Employees and other participants in 401(k) and similar retirement plans must receive information about the plan on a regular basis under the federal pension law — called the Employee Retirement Income Security Act of 1974 or "ERISA." This right to receive plan information is one of the key protections provided by ERISA to plan participants, but delivering all of the required information can be time-consuming and expensive.
Using e-mail and other electronic methods for delivering required plan information may simplify the disclosure process, provide more reliable information delivery, and possibly reduce plan administration costs over time.
The U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) issued a series of rules and interpretations around using e-mail and other electronic disclosure methods.
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