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Ensuring Notice Delivery

Duties in Participant Communication

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Today we will discuss ensuring notice delivery and the duties in participant communication.

As a sponsor or administrator of your company-provided retirement plan, it's vital to maintain open lines of communication with all participants. Early in 2021, the Department of Labor emphasized best practices for connecting with plan participants and finding those who have lost contact. This clarified your role in ensuring all notices are effectively delivered.

Previously, it was uncertain who was accountable for maintaining contact. Now, it's clear that you are required to follow a precise process to guarantee that participants receive their communications. This has stressed the need for all sponsors, administrators, and committees to establish and strictly follow procedures related to distributing all required participant notices.

Remember, if the Department of Labor, IRS or a litigation attorney inquires, you must present proof of distribution and all subsequent documentation, demonstrating attempts were made following the Department of Labor's guidelines.

For more information on ensuring notice delivery, contact us today.

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