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LEGAL DISCLAIMER:
Information contained in this publication is not legal advice, and
should not be construed as legal advice. If you need legal advice upon which you can rely,
you should seek a legal opinion from your attorney.
60 days of their transition period. For the individuals in the above example,
the Notice must be provided by February 1, 2010.
Given the short timeframe to notify such individuals, one can only hope the
DOL takes such factors into account in the event a Plan is a little late in
getting out any pre-February 17, 2010 Notices. If Plans are ready they can
always send Notice early and aim for a February 1, 2010 mailing.
Conclusion
It is expected that these Model Notices may modified
before final approval. Given
the short amount of time before Notices
may be due for some individuals in a
“transition period”, plan professionals may wish to make a draft based on these
Model Notices
and then revise such a draft in light of any final revisions made by
DOL. Additionally, though aimed at Employees, plan administrators and
professionals will find the 15 FAQs mentioned earlier helpful.
Although we have focused on the DOL Model Notices and Fact Sheet, review of the
Rules related to the new law, including the actual Notice requirements of the law
may be helpful, “click here” for a copy of just these provisions of the new law.
We will be taking a close look at other details of the new COBRA subsidy extension
law in an upcoming Research Memo.
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NEWSFLASH!!!!
IRS Extends Cycle D Filing Deadline to February 1
Because January 31 is a Sunday this year, the deadline for Cycle D determination
letter applications is extended to Monday, February 1, 2010. Note that some Cycle
D plans with fiscal year plan years may make a one-time election to file in Cycle E
under a special rule in Section IV of the 2008 Cumulative List (Notice 2008-108).
Since February 1, 2010 is also the first day of the Cycle E submission period, to
avoid confusion as to whether a particular plan is filing under Cycle D or Cycle E,
the IRS requests that a plan sponsor of a Cycle D plan filing on February 1, 2010,
who is electing to file under Cycle E under this special rule, note this on a cover
letter or on the application.