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DOL Proposal Will Shift 401(k) Participant Disclosures Online

    The DOL has proposed a new regulation that would shift 401(k)/retirement plan participant disclosures online, updating notice requirements in this electronic age and reducing employer costs and administrative burdens by eliminating the need to mail paper notices.  The DOL is now accepting comments on the proposed new regulation, along with feedback on the scope, content, design and delivery of participant disclosures, to help the DOL decide if additional changes to the participant disclosure rules should be made in the future. Employers can submit comments through Nov. 22, 2019, by using the federal eRulingmaking portal, at https://www.regulations.gov/document?D=EBSA-2019-0005-0001

    See the article on this topic on the national SHRM website, at https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/DOL-proposal-shifts-401(k)-participant-disclosures-online.aspx