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DOL compliance rules relaxed due to hurricane

Plan sponsors and administrators in areas affected by the super-storm will have an enhanced grace period for ERISA-related compliance rules on 401(k) plans.

By Andy Stonehouse | Updated on November 21, 2012

As clean-up efforts continue, the long-term business disruptions caused by Hurricane Sandy have prompted the Department of Labor to modify its EBSA compliance rules to provide some latitude to those affected by the storm.

Plan fiduciaries, plan sponsors, service providers, participants and beneficiaries affected by the storm will have a slight reprieve in a series of compliance measures which apply to employers and the like in East Coast counties impacted by storm damage.

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