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Compliance April 6, 2011
DoL Seeks Comments on Electronic Disclosure
The U.S. Department of Labor is soliciting public comments that address the possibility of expanding or modifying current
rules about electronic distribution of employee benefit plan
information.
Reported by Rebecca Moore
“Some workers and retirees may not be sufficiently computer literate to receive information electronically or have reasonable access to the Internet, and others may simply prefer traditional paper disclosure,” said Assistant Secretary of Labor for EBSA Phyllis C. Borzi. “But in some instances, electronic disclosure may be just as effective as paper-based communications and could save employers and service providers money. “
The request for information sets forth 30 specific questions on a broad range of topics related to electronic distribution of benefit plan information. The department said it hopes to hear from plan participants and beneficiaries; employers and other plan sponsors; plan administrators; plan service providers; health insurance issuers; members of the financial community; and the general public.
In addition to responding to specific questions contained in the request for information, interested parties are encouraged to address any other relevant matters.
The request for information will be published in the Federal Register on April 7 and can be viewed at http://s.dol.gov/E2. Comments are due by June 6.