08 Nov 2022

Keeping up with Plan Notification Requirements

If it’s not one thing, it’s another! Plan administrators don’t have a lot of time on their hands: a participant wants a distribution; a notification is required. End of year approaches; more notifications are required. Receive a domestic relations order; a notice is required. Keep up by referencing our checklist on plan notifications and don’t let your plan administration run afoul of these many notification rules.

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Related Content

Participant Disclosure Checklist (Defined Contribution Plan)
Face it: Defined contribution plans are most common, and they require lots of notifications: qualified default investment alternative notices, auto-enroll notices, information about investment choices and their performance. This checklist identifies what’s required.
Qualified Retirement Plan Notices Resource Kit
Reference our collection of content for defined contribution and defined benefit plans regarding notice requirements, with sample notifications ready to download.

Legal Developments

Retirement Plan Sponsors Have Short 2022 Year-End Amendment List
With IRS Notices 2022-33 and 2022-45 recently extending several plan amendment deadlines, retirement plan sponsors now have few (if any) plan amendments to adopt before 2022 draws to a close.
Boston Hospital Inks $2.9M ERISA Deal With Workers
In a 403(b) plan suit on an excessive fees claim, Boston's Beth Israel Deaconess Medical Center has agreed to pay $2.9 million to settle claims it mishandled employees' retirement plans.
DOL Eases Independence Rules for Employee Benefit Plan Accountants
Recent guidance from the Department of Labor (DOL) loosens certain restrictions meant to ensure the independence of accountants performing employee benefit plan audits for the annual Form 5500 filing.

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