Compliance
DoL Provides Multiemployer Plan Election Model Notice
The Department of Labor (DoL) has announced that a model notice, which may be used by employee benefit plans electing to be treated as a multiemployer plan under the Employee Retirement Income Security Act (ERISA), will be published in the Federal Register for December 1, 2006.
Reported by Rebecca Moore
Among other things, the notice must describe the principal differences between ERISA’s guarantee programs and benefit restrictions for single-employer and multiemployer plans. The DoL said its model notice may be used by plan administrators to fulfill their notice obligations when making an election.
A copy of the model notice will also be available through the DOL’s Employee Benefits Security Administration Web site at www.dol.gov/ebsa.