Automatic Enrollment

[Guest SHM]

Under the new automatic enrollment regs, notice must be provided to plan participant 30 days prior to making an investment in a QDIA. However, if a plan allows for eligibility for the participant on the date of hire, does this mean that the participant can't be automatically enrolled until 30 days later? Is there anything in the regs that would allow for the safe harbor to apply to a new hire who immediately gets automatically enrolled?

[RCK]

I was at a seminar yesterday where this question came up. The consensus there was that this is an oversight that will be addressed in regs or the inevitable technical corrections.