Receiving Electronic Statements To Improve Retiree Earnings Act

Summary

Receiving Electronic Statements To Improve Retiree Earnings Act This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to authorize the electronic delivery of pension plan documents required to be furnished to a plan participant, beneficiary, or other individual. The system for furnishing such a document must: (1) be designed to result in effective access to the document, (2) permit the recipient to select the electronic means through which the document is received or request paper documents, and (3) protect the confidentiality of personal information. An annual paper notice must be provided describing the selection of electronic means for furnishing documents and any election that has been made to receive paper documents. An electronically furnished document must be prepared and furnished in a manner that is consistent with the style, format, and content requirements for the document. It must also include a notice that apprises the individual of the significance of the document when it is not otherwise reasonably evident as transmitted. The bill specifies that: (1) documents may continue to be furnished electronically under laws, regulations, or guidance prescribed by the Department of Labor or the Department of the Treasury prior to enactment of this bill; and (2) the departments may prescribe additional methods for furnishing documents.

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Timeline

1. 28 September 2016

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

   Source: IntroReferral

2. 28 September 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 28 September 2016 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 September 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 September 2016

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 28 September 2016

  Open at official source

Sponsors

• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• · sshr00 · Standing

Related records

• related to → Receiving Electronic Statements To Improve Retiree Earnings Act
• related to → Receiving Electronic Statements To Improve Retiree Earnings Act