Employers Need to Review Benefit Plans and Take Action Prior to Year End
Most employee benefit plans operate on a calendar-year basis. With December 31 fast approaching, it is important for sponsors of calendar-year plans to review them soon and, if required, take steps to amend their plans. It is also necessary to provide certain notices to plan participants before the end of the year. The following is a brief overview of the types of changes that may need to be made before December 31 for calendar-year plans and the types of employee notices that may be required.