Small business compliance with PPA
originally posted: 11/22/2006 reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If in doubt, please send a new question or ask for an update.
Q: What do I have to do to bring my small company health plan and 401(k) into compliance with the Pension Protection Act of 2006?
A: More information is published in a new article at http://www.freedombenefits.org/articles%20published/Employee-Communications-Required-Under-PPA.htm . Essentially the task boils down to getting an authorization from each employee for electronic communications and then sending a separate e-mail for each area addressed in the new new law to each eligible employee before December 1, 2006. Note that most of the new requirements apply only to retirement plans, the e-mail permission is the only one that also includes health plans. Freedom Benefits will handle these tasks as part of the regular benefit plan service but the operational details are still being worked out on these new legal issues.
Summary
More resources:
article: "Required Employee Communications Under PPA"
FreedomBenefits.net