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https://erisapros.com/faqs/spd-delivery-requirements/
SPD DELIVERY REQUIREMENTS The plan administrator/employer is responsible for preparing the SPD and affirmatively delivering it to certain persons, e.g.: covered employees terminated COBRA participants parents or guardians of children covered under a qualified medical
https://www.irs.gov/retirement-plans/notice-requirement-for-a-safe-harbor-401k-or-401m-plan
Electronic delivery of notice. The safe harbor notice may be delivered electronically. The requirements for electronic delivery are set forth in Reg. § 1.401(a)-21. Notice requirement due to mid-year changes to a plan. Notice 2016-16, issued on January 29, 2016, provides guidance on mid-year changes to safe harbor 401(k) plans.
http://kbpensionservices.com/files/9513/7347/0030/A_Guide_to_Electronic_Delivery_of_Participant_Disclosure_Materials.pdf
A GUIDE TO ELECTRONIC DELIVERY OF PARTICIPANT DISCLOSURE MATERIALS . The U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) issued a series of rules and interpretations around using e-mail and other electronic disclosure methods. This guide is intended to:File Size: 81KB
https://www.foley.com/en/insights/publications/2019/11/dol-modernize-erisa-electronic-disclosure-rules
In late October, the Department of Labor (“DOL”) published proposed electronic disclosure regulations (the “Proposed Rules”). If finalized, the Proposed Rules will offer plan sponsors additional options for electronically providing plan-related documents and information to plan participants, beneficiaries, and other specified recipients (collectively, “Required Recipients”).
https://tax.thomsonreuters.com/blog/dol-proposes-new-electronic-delivery-safe-harbor-for-401k-and-other-erisa-pension-plan-disclosures/
Oct 24, 2019 · Comments are sought on various practical elements of the proposed safe harbor, as well as on the underlying ERISA disclosure requirements (such as whether existing disclosures are too voluminous). For more information, see EBIA’s 401(k) Plans manual at Section XXVIII.G (“Electronic Delivery of SPDs and Other ERISA-Required Documents”).
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 used to fulfill a …Author: Mcguirewoods LLC
https://www.irs.gov/retirement-plans/plan-participant-employee/401k-resource-guide-plan-participants-summary-plan-description
Feb 14, 2020 · For more information on the SPD and its importance, visit the Department of Labor web site. In addition to the Summary Plan Description, plan participants are entitled to receive a Summary of Material Modifications when there is a material modification in the terms of the plan or any change to the information in the Summary Plan Description.
https://www.federalregister.gov/documents/2019/10/23/2019-22901/default-electronic-disclosure-by-employee-pension-benefit-plans-under-erisa
Other stakeholders state that electronic delivery is not necessarily appropriate for all individuals, or for all ERISA disclosures. The Department agrees that electronic delivery generally can be as effective as paper based communication, and that it can reduce plan costs and increase the timeliness and accuracy of information that is disclosed.
http://www.401kpal.com/NEW401kPAL/Electronic_Disclosure_Guidelines_Forms_2016.pdf
Sample Language for Notice of Electronic Delivery of SPD An employer who delivers the SPD electronically by sending an email with a link to the SPD on the employer website might want to say something like the following: Subject Line: Important! Link to the Summary Plan Description (SPD) for your Bene 茅t PlanFile Size: 223KB
https://www.erisapracticecenter.com/2019/10/guide-to-dols-new-notice-and-access-proposal-for-electronic-delivery/
Oct 30, 2019 · On October 23, 2019, the Department of Labor published a new proposed regulation that paves the way for “notice and access” electronic delivery of certain disclosures for retirement plans. The proposal is welcome news for plan sponsors and administrators who have been frustrated by the existing “opt-in” regime for electronic disclosure.
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