Interim Final Rule Relating to Notice of Blackout Periods to Participants and Beneficiaries

Summary

The U.S. Department of Labor has released an interim final rule requiring written notice to participants and beneficiaries of blackout periods in individual account plans under the Employee Retirement Income Security Act of 1974 (ERISA). The rule, which went into effect on July 30, 2002, as part of the Sarbanes-Oxley Act of 2002, aims to provide guidance to plan administrators and their advisors on fulfilling their duties to notify participants and beneficiaries of blackout periods.