Department of Labor seeks comment on pros and cons of electronic disclosures of ERISA info

The Department of Labor is seeking public comment on whether itshould expand rules on electronic distribution of employee benefitinformation such as the required disclosure of quarterly accountstatements under ERISA.

While disclosures through e-mail and the Internet could saveemployers and providers a lot of money, some workers and retireesmay not be computer literate enough, may not have reliable access tothe Internet or may simply prefer traditional paper disclosures,according to statements by Phyllis C. Borzi, Assistant Secretary ofLabor for the Employee Benefits Security Administration, the agencythat enforces ERISA.

The request for information was published in the Federal Registeron April 7 and can be viewed here.

Public comments may be submitted by e-mail to E-ORI@dol.gov orthrough the federal e-rulemaking portal at http://www.regulations.gov.

Written comments may be addressed to the U.S. Department ofLabor, Office of Regulations and Interpretations, Employee BenefitsSecurity Administration, Room N-5655, 200 Constitution Ave. NW,Washington, D.C. 20210, Attn: Electronic Disclosure by EmployeeBenefit Plans RFI.