In recent months, the Internal Revenue Service (“IRS”), Department of Labor (“DOL”), and Pension Benefit Guaranty Corporation (“PBGC”) have provided relief for individuals and employers impacted by recent hurricanes in the south eastern part of the United States. This article provides a brief summary of some of the relief available to sponsors of employee benefit plans and plan participants impacted by hurricanes Katrina, Rita, and Wilma. Generally, certain relief is available to employers and participants located or residing in presidentially designated areas in Louisiana, Mississippi, Alabama, Texas, and Florida. However, not all relief is available to employers and participants in each of those areas.
