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Final EBSA Regs on Penalty for Failure to Notify Self-Directed Plan Participant of Right to Divest Employer Stock (PDF)
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] Link to more items from this source
Aug. 10, 2007
Issued as a 'direct final rule' that takes effect immediately. Public comment that is significant and adverse would cause DOL to withdraw the rule and cancel its effectiveness, but DOL does not anticipate such comment (see https://benefitslink.com/erisaregs/E7-15568.pdf). Excerpt: Plan administrators must provide this notice not later than 30 days before the first date on which the individuals are eligible to exercise their rights. The notice must set forth the diversification rights provided under section 401(a)(35) of the Code (and parallel section 204(j) of ERISA) and describe the importance of diversifying the investment of retirement account assets. Section 101(m) of ERISA is effective for plan years beginning after December 31, 2006.

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