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Showing results for tags 'electronic disclosures'.
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The 2020 Department of Labor "Notice and Access" safe harbor may be used to deliver ERISA notices electronically to plan participants. The Notice and Access safe harbor very generally requires an initial paper notice, followed by a notice of internet availability, and then notices may be posted to a website. This method is not overtly a safe harbor for delivering notices required under the IRS Code, like 401(k) safe harbor notices. IRS electronic delivery safe harbors are outlined in Treas. Reg. § 1.401(a)-21. The two methods outlined are: Consumer consent - basically similar to the "Affirmative Consent" DOL safe harbor, or Effective availability - participants must have effective ability to access the notice My questions are: Are other providers who are using the DOL Notice and Access approach to delivering ERISA notices assuming this approach also satisfies the IRS Effective Availability safe harbor for delivery of IRS notices? More specifically, are you using the DOL Notice and Access delivery method to deliver your 401(k) safe harbor notices? Does anyone feel like the DOL Notice and Access safe harbor might not satisfy the IRS electronic delivery requirements?
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Once a Plan Administrator has obtained consent to distribute documents electronically - where does the burden of proof lie? Say the plan administrator emails to the address on file, but does not request a return receipt, but the email does not kick back as invalid, if the participant then claims to have not received the document, who has the burden? I've been looking for cases, guidance, etc., but the only thing I've found is the Thomas case wherein the employer posted on a website, but did not inform the individuals that it was posted. Any further information/guidance/cases, etc. is greatly appreciated! -
As BenefitsLink this morning reported, tomorrow’s Federal Register will publish notice of a proposed rulemaking under which fiduciaries of an ERISA-governed retirement plan could furnish some ERISA-required communications under a notice-and-access regime with a notice that the communication is available at a plan-maintained website. Relying on the new regime would require, among other conditions, having an electronic address for the person entitled to the communication to be furnished. If that electronic address is an e-mail address (rather than a smartphone number): Is there a reason why a plan’s fiduciary should not attach to the e-mail message a .pdf of the document to be furnished? (One could do this besides posting the document on a website.) Is there ever a situation in which attaching a .pdf could be harmful to the e-mail’s addressee?
