Plan Operations & Admin

Clarifying the CARES Act: IRS Issues Additional Guidance
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Almost three months after the passing of the CARES Act in March, the Internal Revenue Service issues some much sought-after, additional guidance on various CARES Act provisions that had been left up to interpretation. A primary intention of the CARES Act was to provide relief for individuals impacted by the COVID-19 pandemic. You can view  Read More →
DOL Issues Updated Electronic Disclosure Rules
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With mounting pressure to streamline retirement plan notice delivery and to help ensure delivery requirements can efficiently be met, the Department of Labor has issued updated electronic disclosure rules in the form of a new electronic delivery safe harbor provision. The new safe harbor permits the following two optional methods for electronic delivery: Website Posting  Read More →
Preventing Uncashed Retirement Checks
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Managing uncashed retirement checks may be considered a nuisance by plan administrators. Nevertheless, the employer still has fiduciary responsibility when a former employee fails to cash their distribution. Search efforts to locate a missing plan participant consume time and money and may fail to locate the participant. Likewise, going through the process of turning over  Read More →

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