E-Delivery of Retirement Plan Info Is the Default Under New Rule

May 21, 2020, 3:36 PM

The Trump administration has finalized its rule making electronic delivery of retirement plan updates the norm rather than printed notices.

Administration officials said the electronic disclosure guidance issued Thursday enables employers “to make better use of modern technology,” moving the Employee Retirement Income Security Act-mandated disclosures from a paper-based system to digital distribution. Employee Benefits Security Administration staff estimate the change will save $3.2 billion in material, printing, and mailing costs over 10 years.

“The rule will rely on widely available technology to keep workers and retirees informed about their plans, while still preserving the option to receive retirement information ...

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