29 CFR Part 2560 RIN 1210-AB24 DOL Proposed Regulation – Civil Penalties Under ERISA Section 502(c)(4) The DOL announced a proposed regulation for "assessing civil penalties against plan administrators who fail to disclose certain documents to participants, beneficiaries and others as required by the Employee Retirement Income Security Act, as amended by the Pension Protection Act (PPA)": Related Links: "The PPA established new disclosure provisions relating to: funding-based limits on benefit accruals and certain forms of benefit distributions; plan actuarial and financial reports; withdrawal liability of contributing employers; and participants' rights and obligations under automatic contribution arrangements. The PPA gives the department authority to assess civil monetary penalties of up to $1,000 per day against plan administrators for violations of the new disclosure requirements. The proposed regulation sets forth the administrative procedures for assessing and contesting such penalties and does not address substantive provisions of the new
disclosure requirements."News Release
Wednesday, December 19, 2007
DOL Proposed Regulation – Civil Penalties Under ERISA Section 502(c)(4)
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DOL Proposed Regulation
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