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https://erisapros.com/faqs/spd-delivery-requirements/
DOL regulations are quite clear that merely placing copies of the SPD in a break room or posting it on an employer’s website or intranet does not necessarily satisfy this requirement because it was not affirmatively delivered to the participant. SPD ELECTRONIC DISTRIBUTION REQUIREMENTS
https://www.foley.com/en/insights/publications/2019/11/dol-modernize-erisa-electronic-disclosure-rules
The DOL acknowledged the effectiveness of electronic disclosure in reaching plan participants, citing both a 2015 study of the online habits of retirement plan participants indicating that 99% had internet access at home or work (with some 88% of the respondents reporting daily use of the internet), and a 2018 study concluding that 93% of households with defined contribution plan participants had access …
http://www.ebcflex.com/Menu/Resources/ComplianceBuzz/tabid/1140/ArticleID/377/When-Can-Employers-Use-Electronic-Delivery-of-Benefit-Plan-Documents.aspx
Sep 21, 2016 · The DOL safe harbor specifies that a written or electronic notice must be provided to participants each time a new electronic SPD is posted. The Bottom Line: Failure to follow the DOL electronic distribution rules can result in employer penalties. Employers who want to distribute benefit plan information electronically to plan participants can do so but should carefully review and follow the DOL safe harbor rules for electronic delivery …
https://www.erisapracticecenter.com/2019/10/guide-to-dols-new-notice-and-access-proposal-for-electronic-delivery/
Oct 30, 2019 · An existing DOL safe harbor provides that this obligation may be satisfied by electronic delivery only if the participant has work-related computer access (such as a computer at their desk) or the participant affirmatively consents to receive notices electronically; that safe harbor has detailed requirements for the consent to be valid.
https://www.pillsburylaw.com/images/content/1/3/v2/1364/D70B2C7DE04D9F2EF832561AC253B226.pdf
DOL Finalizes Rules for Electronic Delivery of Documents and Information Under ERISA By Henry A. Hernandez The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), requires that employers provide certain information and documents to benefit plan participants and beneficiaries. The Department of Labor (DOL) recently issued ...File Size: 114KB
https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/revisit-spd-distribution-rules.aspx
SPDs must be provided to all plan participants within 90 days of becoming covered by the plan, although sponsors of a new plan have 120 days after the plan becomes subject to ERISA to distribute the SPD. Updated SPDs must be furnished every five years if changes were made to SPD information or if …Author: Kim Buckey
https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/Fees_e-disclosure.aspx
Nov 14, 2012 · DOL Offers More Guidance on Electronic Disclosure of 401(k) Fees ... which provided additional guidance regarding when and how electronic delivery can be …Author: Mcguirewoods LLC
https://www.dol.gov/general/topic/health-plans/planinformation
EFAST2 is an all-electronic system designed by the U.S. Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation to simplify and expedite the submission, receipt, and processing of the Form 5500 and Form 5500-SF. Questions & Answers: ERISA Filing Acceptance System (EFAST2)
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