Remember Electronic Distribution Rules for SPDs and Other ERISA-required Notices
By now you should have received a Message Center alert with a link to your cooperative’s 2015 Group Benefits Program summary plan descriptions (SPDs) and summary of material modifications (SMMs).
This year’s distribution deadline is March 2, 2015.
Before you give the SPDs and SMMs to employees, please spend a few minutes reviewing the electronic distribution rules. They’re located on the Employee Benefits website.
The electronic disclosure rules describe how the notices can be delivered to your employees. Regardless of the delivery method, you must still follow other ERISA rules about who must receive the notices. Give them to the following individuals by the March 2, 2015 deadline:
- Active & disabled employees
- Retirees
- Directors & retained attorney
- COBRA qualified beneficiaries
- Dependents of deceased employees/retirees who continue to be covered
- Children covered under a Qualified Medical Child Support Order (QMCSO)
Also, give them to new employees within 90 days of the date they first become covered under the plan.
General requirements
Certain general requirements apply to all employees. They include telling employees why the notice is important, how it will be provided and how they can request a free paper copy. You must also provide the free paper copy to anyone who wants it within 30 days of the request date, regardless of how they originally received the notice.
If you have questions about electronic distribution, contact the benefits compliance team at 866.673.2299, option 7, or email us at group.compliance@nreca.coop.