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Retirement Plans: Regulators Provide Relief from Certain ERISA Requirements During the COVID-19 Crisis

The Department of Labor (DOL) issued a notice on April 28, 2020 (the Notice) providing relief from certain requirements and deadlines imposed by the Employee Retirement Income Security Act of 1974 (ERISA) during the COVID-19 crisis.

Plan sponsors and fiduciaries must take care to continue to ensure they act in accordance with their fiduciary obligations, and should discuss any possible delay in meeting ERISA-imposed timelines with their ERISA counsel to determine whether the relief under the Notice applies to them. Read more…