Send out employee benefit info electronically

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in Employee Benefits Program,Employment Law,Human Resources

New proposed IRS regulations give the green light to using electronic means to send benefit plan information to employees and beneficiaries that is otherwise required in writing. The new regs also cover electronic transmissions of elections or consents. These new rules apply across the board to qualified plans, qualified annuity contracts (including joint and survivor annuities), SEPs, SIMPLEs, cafeteria plans, accident and health plans, educational assistance plans, qualified transportation fringe benefits and Health Savings Accounts. (NPRM REG-138362-04) Consult with your benefits adviser.

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