PLANADVISER - May/June 2020 - 4

EBSA's E-Disclosure Rule Is Final
compliance news //
THE Department of Labor (DOL) and its
Employee Benefits Security Administration
(EBSA) have published their
much anticipated Electronic Disclosure
Final Rule. The rule expands the
ability of private sector employers to
communicate mandated
retirement
plan disclosures and other information
online or by email.
Largely mirroring the
proposed
version of the rule, put forward last
year, the final rule allows employers to
deliver disclosures to plan participants
electronically by default, letting participants
opt out and receive paper mailings
if they prefer.
EBSA leadership says this measure
printing, mailing
will
reduce
accessible and useful for participants,
while preserving the rights of those who
prefer paper disclosures, EBSA says.
" This rule is an outstanding example
deregulatory
of how commonsense
and
related plan costs by an estimated $3.2
billion over the next decade. The rule
will also make disclosures more readily
efforts can save billions of dollars, " says
U.S. Secretary of Labor Eugene Scalia
in a statement published alongside the
final rule. " 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 by mail.
As we look ahead to reinvigorating the
American economy, the Department of
Labor's priorities include eliminating
unnecessary burdens for employers
that sponsor retirement plans and
addressing the needs of wage earners,
job seekers and retirees. "
Outgoing Assistant Secretary of the
Employee Benefits Security Administration
Preston Rutledge says the rule
" reflects today's marketplace while
retaining the ability of participants to
choose how they receive their retirement
information. "
During the rulemaking process,
EBSA received hundreds of comment
letters from a diverse showing of
parties in the retirement industry. Most
voiced strong support for the e-delivery
default rule, citing the desire of participants
to access information digitally
and the possibility of saving significant
amounts of money and paper.
The final rule allows plan administrators
to furnish certain required
disclosures using the proposed " noticeand-access "
model. Administrators
also have the option to use email to
send disclosures directly to partici4
| planadviser.com May-June 2020
Art by Pete Ryan

http://www.planadviser.com

PLANADVISER - May/June 2020

Table of Contents for the Digital Edition of PLANADVISER - May/June 2020

2020 PLANADVISER DCIO Survey
All That Goes Into a Practice
Compliance When It's Tough
A Case For Both
The Alternative Workplace
Damage Control in a Downturn
An Uptick in Customer Arbitration?
Client Relationship Summary
Evaluating Reg BI Compliance
PLANADVISER - May/June 2020 - Cover1
PLANADVISER - May/June 2020 - Cover2
PLANADVISER - May/June 2020 - 1
PLANADVISER - May/June 2020 - 2
PLANADVISER - May/June 2020 - 3
PLANADVISER - May/June 2020 - 4
PLANADVISER - May/June 2020 - 5
PLANADVISER - May/June 2020 - 6
PLANADVISER - May/June 2020 - 7
PLANADVISER - May/June 2020 - 8
PLANADVISER - May/June 2020 - 9
PLANADVISER - May/June 2020 - 10
PLANADVISER - May/June 2020 - 11
PLANADVISER - May/June 2020 - 2020 PLANADVISER DCIO Survey
PLANADVISER - May/June 2020 - 13
PLANADVISER - May/June 2020 - 14
PLANADVISER - May/June 2020 - 15
PLANADVISER - May/June 2020 - 16
PLANADVISER - May/June 2020 - 17
PLANADVISER - May/June 2020 - 18
PLANADVISER - May/June 2020 - 19
PLANADVISER - May/June 2020 - All That Goes Into a Practice
PLANADVISER - May/June 2020 - 21
PLANADVISER - May/June 2020 - 22
PLANADVISER - May/June 2020 - 23
PLANADVISER - May/June 2020 - Compliance When It's Tough
PLANADVISER - May/June 2020 - 25
PLANADVISER - May/June 2020 - 26
PLANADVISER - May/June 2020 - 27
PLANADVISER - May/June 2020 - A Case For Both
PLANADVISER - May/June 2020 - 29
PLANADVISER - May/June 2020 - The Alternative Workplace
PLANADVISER - May/June 2020 - 31
PLANADVISER - May/June 2020 - 32
PLANADVISER - May/June 2020 - 33
PLANADVISER - May/June 2020 - Damage Control in a Downturn
PLANADVISER - May/June 2020 - 35
PLANADVISER - May/June 2020 - 36
PLANADVISER - May/June 2020 - An Uptick in Customer Arbitration?
PLANADVISER - May/June 2020 - Client Relationship Summary
PLANADVISER - May/June 2020 - Evaluating Reg BI Compliance
PLANADVISER - May/June 2020 - 40
PLANADVISER - May/June 2020 - Cover3
PLANADVISER - May/June 2020 - Cover4
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