EMPLOYEE BENEFITS SECURITY ADMINISTRATION ISSUES PROPOSED RULE: REQUIREMENT TO PROVIDE PAPER STATEMENTS IN CERTAIN CASES-AMENDMENTS TO ELECTRONIC DISCLOSURE SAFE HARBORS

WASHINGTON, Feb. 25 -- Employee Benefits Security Administration has issued a proposed rule called: Requirement To Provide Paper Statements in Certain Cases-Amendments to Electronic Disclosure Safe Harbors.

The proposed rule was published in the Federal Register on Feb. 25 by Daniel Aronowitz, Assistant Secretary, Employee Benefits Security Administration, Department of Labor.

Summary: The Department of Labor (Department) is proposing narrow amendments to two separate electronic disclosure safe harbors for purposes of implementing section 338 of the SECURE 2.0 Act of 2022 (SECURE 2.0). Taken together, the two existing safe harbors permit the broad use of electronic disclosure under prescribed conditions for the furnishing of required disc...