DOL Proposes New Method for Electronic Delivery of Retirement Plan Disclosures

The U.S. Department of Labor (DOL) published a proposed rule in October that would allow plan administrators to make retirement plan disclosures available on a website.

If the proposal is adopted, plan administrators may continue to use the existing safe harbor for electronic delivery, or to furnish paper documents by hand-delivery or mail.

The proposal would provide a new, optional method where plan administrators who satisfy specified conditions may furnish documents electronically, unless participants affirmatively opt out.