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front view of DOL building U.S. Department of Labor in Washington, D.C. (Photo: Diego M. Radzinschi/ALM Media

The Department of Labor has now finalized its proposal to create a new “safe harbor” for the electronic distribution of ERISA-required notices and disclosures. The new safe harbor should be welcome news to virtually all employers who sponsor ERISA-covered retirement plans. Not only should the rule facilitate the distribution of important plan-related information, but it should greatly reduce the costs and burdens on plan administrators. It really may be a “win-win” regulation.

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