For Your Benefit

DOL requests public comments on electronic disclosure of benefits information

The U.S. Department of Labor (DOL) recently issued a request for information (RFI) on electronic disclosure by employee benefit plans. The Employee Retirement Income Security Act (ERISA) requires employee benefit plans that are subject to it to supply certain information to plan participants and beneficiaries, and the DOL has provided standards for the electronic distribution of such required plan disclosures. The DOL is looking into whether (and possibly how) it wants to expand or modify the current electronic distribution standards. The DOL’s RFI asks for feedback from plan participants and beneficiaries, employers, other plan sponsors, plan administrators, plan service providers, health insurance issuers, members of the financial community, and the general public.