Description
Gain a better understanding of how to use technology while staying compliant under ERISA.The IRS and the Department of Labor allow electronic communications such as email and webpostings to satisfy ERISA disclosure requirements, which offers a cost savings for benefit plans. Most benefit plans take advantage of technology to satisfy mandatory disclosure requirements, but many administrators are not aware of the specific rules that apply to these disclosures. Benefit plans that do not follow these rules are unknowingly out of compliance. The level of risk and exposure depends on the type of disclosure violation. Many requirements carry a potential penalty of 110 per day, but penalties are not the only concern. For example, failure to provide a summary plan description could result in an inability to enforce limitations and restrictions. Under certain circumstances, this could result in claims worth many thousands of dollars. The basic rules are fairly simple and worth taking the time to learn.
Date: 2019-12-19 Start Time: End Time:
Learning Objectives