United States:
COVID-19 Ate My Homework – Recent Extensions And Relief For Retirement Plans
21 May 2020
McDermott Will & Emery
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In recognition of the difficulties faced by retirement plan
sponsors, participants and beneficiaries due to the COVID-19
pandemic, new guidance extends the deadlines for notices and
disclosures required by Title I of ERISA and extends deadlines for
retirement plan participants and beneficiaries to submit benefit
claims and benefit appeals. The new guidance also provides some
welcome fiduciary relief for electronic disclosures, incomplete
plan loan or distribution documentation, as well as delayed
participant contributions and loan repayments.
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