For the first time in almost 10 years, the Department of Labor is reviewing its rules on electronic disclosures in ERISA plans. Imagine all the changes in technology since 2002 (the last time DOL issued rules on e-disclosures)! I’d say DOL is ripe for new regulations in this area.
Help drag DOL into the 21st century by providing your comments on how you use electronic media to provide benefit plan information to participants and beneficiaries. In a new request for information, DOL wants suggestions and comments from employers and other stakeholders “regarding whether and how to expand or modify the 2002 regulations, taking into account current technology, best practices, and the need to protect the rights and interests of participants and beneficiaries,” according to the announcement in the April 7 Federal Register.
There’s some 30 areas DOL asks about in the RFI, including participant Internet access and usage (which I presume has only increased since 2002), and a bunch of technical issues like consent requirements that I’m glad I don’t have to sort out.
You need to submit your comments by June 6. Meantime, share your thoughts in the comments about whether and how DOL should update its e-disclosure rules.
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