Compliance June 6, 2011

ASPPA Sees “Overwhelming” Response for Electronic Disclosure

As the last day of submitting comments to the Department of Labor (DoL) drew to a close, the American Society of Pension Professionals & Actuaries (ASPPA) urged the adoption of electronic disclosures.   
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In its letter to the DoL regarding electronic distribution of plan disclosures required under the Employee Retirement Income Security Act (ERISA), ASPPA said that the existing regulation pertaining to electronic disclosure should be modified to facilitate electronic communication.

“In particular, we recommended that the consent and access requirements of the existing ‘safe harbor’ be revised to permit electronic disclosure to be the default method of communication,” the letter stated.

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The DoL published a request for comment to its Web site on April 6 and was accepting public comments until Monday, June 6 (see “DoL Seeks Comments on Electronic Disclosure”). ASPPA pointed out in its letter that the response has been overwhelmingly in favor of allowing electronic disclosures to fulfill ERISA requirements.

ASPPA’s letter to the DoL is available here. 

Deals & People June 6, 2011

Bracewell & Giuliani Expands Houston Office

Glen Eichelberger and Brian Teaff, both formerly of Fulbright & Jaworski, have joined the firm’s Houston office in its wealth management practice.

 

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Eichelberger focuses on trust, estate and philanthropic planning, and administration for high net worth clients. He previously served as a director at Merrill Lynch, where he was lead national relationship manager for the company’s Family Office Services. He is a former chairman of the Houston Bar Association’s Probate, Trust and Estates Section.

Teaff focuses on wealth management issues, helping clients to preserve their wealth. He also has experience with substantive tax issues and in matters involving the Internal Revenue Service and the U.S. Department of Justice, counseling clients in a variety of tax and non-tax related matters.

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 “Glen’s work at Merrill Lynch in family entity business consulting, together with his estate and charitable planning experience and Brian’s broad tax focus will be great resources for our clients,” said Mark C. Evans, Bracewell & Giuliani LLP’s managing partner.

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