DOL Safe Harbor for Electronic Disclosures

Edward A. Wodarczyk, Esq., ewodarczyk@tuckerlaw.com, 412-594-3920

On May 27, the DOL issued final regulations that provide a safe harbor for electronic disclosures to employees.  Although the regulations don’t become effective until 60 days later (on July 27, 2020), they may be relied upon in the meantime.  The good news is that the new rules apply to a broader base of employees than the current rules and apply to both website disclosures and electronic transmissions.  The bad news is that the new rules only apply to retirement plan disclosures and are only approved at this time for DOL disclosures and not necessarily for IRS disclosures.  For more, see https://cheiron.us/.