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09/08/2017

Addressing Disasters & Emergencies in DC Plans

In the wake of Harvey and Irma, what can plan sponsors do to help?

In the wake of hurricane Harvey, the IRS and DOL have issued temporary relief on certain deadlines and procedural requirements applicable to tax qualified employee benefit plans. Similar relief may follow with respect to hurricane Irma.  

Click here for PSCA's blog post on what is included and not included in the relief and steps sponsors may want to consider. Note that the relief may be extended not only to those who reside in the disaster area, but to family members who want to assist certain relatives affected by the disaster. Click here for a more detailed explanation of plan design considerations in preparation for disasters and emergencies.