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DOL Announces Registration Requirements for Pooled Plan Providers
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]
[Guidance Overview] Nov. 12, 2020 "The final rule establishes a straightforward electronic registration process for businesses that want to offer pooled employer plans. With the exception of Nov. 25, 2020 to Jan. 31, 2021, the process requires pooled plan providers to register at least 30 days before beginning operations. Plans must also submit supplemental filings regarding specific reportable events and a final filing after the provider's last pooled employer plan has been terminated and ceased operations. For the period of Nov. 25, 2020 to Jan. 31, 2021, the requirement to register at least 30 days prior to operating a pooled employer plan is waived, provided registration occurs no later than the start of the plan." |
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