Puerto Rico - INSIDER highlights
This month, a number of articles should be of particular interest to
employers in Puerto Rico:
- Many of our clients are implementing technological solutions to improve
employee communications and benefits management. The article entitled:
DOL
Issues Final Rules on Electronic Communications outlines recent
U.S. Department of Labor rules for disclosing certain employee benefit
plan information via electronic media and maintaining employee benefit
plan records electronically. It is important for plan sponsors to be
aware of the specific rules regarding eligibility to receive electronic
disclosures and the accepted protocols for delivery of the information.
The biggest hurdle has been ensuring that participants and beneficiaries
can effectively access documents.
- The Pension Security Act was passed by the U.S. House of Representatives
and referred to the Senate. In this
article, learn about the main components of this act, particularly related
to expanded diversification rights for defined contribution plan participants
(including plans such as Puerto Rico 1165(e) pre-tax savings plans),
requirements to provide participants with benefit statements and increased
access to retirement education and advice.
- As a leading contributor to the national debate on Social Security
Reform, Watson Wyatt’s Research and Information Center is bringing
a global perspective to the issue by exploring how other nations have
undertaken reforms in their public retirement systems. The Swedish experience
is highlighted here.
- Don’t miss additional articles available in our online version
of the Insider, covering areas such as e-Learning and Managing Health
Costs. http://insider.watsonwyatt.com
Do not hesitate to call us for additional background on any of these
issues.
Sincerely,
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