Randall & Hurley, Inc.
Loren D. Stark Company
EPIC Retirement Plan Services
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|Full Text of DOL Regs on ERISA Penalties for Failure to Provide Blackout Notices|
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]
Oct. 21, 2002
"[The Sarbanes-Oxley Act amends ERISA by] establishing a civil penalty for an administrator's failure or refusal to provide timely notice of a blackout period to participants and beneficiaries. Specifically, section 502(c)(7) provides that the Secretary may assess a civil penalty of up to $100 a day from the date of the plan administrator's failure or refusal to provide notice to a participant or beneficiary in accordance with ERISA section 101(i)."
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