The DOL has revised its website to reflect its revision to the interim electronic disclosure policy under the participant disclosure regulations.
Document Excerpt
On September 13, 2011, the Department issued Technical Release 2011-03 (TR 2011-03), which sets forth an interim enforcement policy regarding the use of electronic media to satisfy the disclosure requirements under 29 CFR 2550.404a-5. In response, staff at the Department’s Employee Benefits Security Administration (EBSA) has received inquiries on whether, and to what extent, TR 2011-03 is intended to apply to continuous access Web sites and whether, and under what circumstances, the release permits investment-related information, specifically comparative chart information required by paragraph (d) of section 2550.404a-5, to be furnished as part of a pension benefit statement described in section 105 of the Employee Retirement Income Security Act (ERISA). In issuing TR 2011-03, it was not EBSA’s intent to preclude the use of continuous access Web sites. Nor was it EBSA’s intent to preclude furnishing comparative chart information as part of, or along with, pension benefit statement information, either through electronic media under the conditions in section C of the release or in paper form. After reviewing TR 2011-03 in light of these inquiries, EBSA is persuaded that plan administrators and their service providers would benefit from the requested clarifications. In lieu of issuing a separate document, designed to be read in conjunction with TR 2011-03, EBSA has instead decided to revise and restate TR 2011-03 as Technical Release 2011-03R. The revised technical release is identical to TR 2011-03 except as necessary to clarify the aforementioned issues.
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