DC Disclosure

Updates

The DOL Must Modernize: How Old Rules Are Hurting Benefit Plans & Participants

The ERISA Industry Committee (ERIC) today testified before the Department of Labor’s (DOL) ERISA Advisory Council on Employee Welfare and Pension Benefit Plans about streamlining and eliminating unnecessary disclosure requirements placed on health and retirement plan sponsors… More

protected content DOL Releases Rule Allowing Flexibility in Annual Participant Fee Disclosure

Today, the Department of Labor’s Employee Benefits Security Administration (EBSA) released a direct final rule that gives plans sponsors additional time to provide the required participant-level fee disclosure required under ERISA section 404(a)-5. … More

protected content Obama Administration Releases FY 2016 Budget with Retirement Policy Provisions

Today, the President released the Fiscal Year 2016 Budget of the U.S. Government (“FY 2016 Budget”). As the Administration has been releasing pieces of the FY 2016 Budget over recent days… More

ERIC and Other Groups Urge DOL to Put on Hold Proposed Disclosure Guide until Focus Group Testing Complete

ERIC, in addition to 10 other business trade associations, sent a letter to the Department of Labor recommending that the Department put the proposed ERISA section 408(b)(2) “guide” on hold until forthcoming focus group testing is completed … More

protected content DOL Seeks to Establish Focus Groups to Evaluate Service Provider Disclosure Requirements

The Department of Labor (DOL) published in the Federal Register a notice seeking approval to establish focus groups for evaluating the effectiveness of the service provider disclosure requirements under section 408(b)(2) of ERISA. … More

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Legislative Documents

protected content Obama Administration Releases FY 2016 Budget with Retirement Policy Provisions

Today, the President released the Fiscal Year 2016 Budget of the U.S. Government (“FY 2016 Budget”). As the Administration has been releasing pieces of the FY 2016 Budget over recent days… More

protected content Senator Harkin Introduces USA Retirement Funds Act

Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin (D-IA), along with Senator Brown (D-OH), on January 30 introduced the USA Retirement Funds Act. ERIC has been working with Senator Harkin’s staff on various provisions of this bill, especially the provisions involving hybrid plan clarifications … More

protected content Senator Hatch Legislation Includes Significant Pension Reforms

Senate Finance Committee Ranking Member Orrin Hatch (R-UT) on July 9 introduced legislation that would make extensive reforms to both private and public retirement plan rules. … More

protected content Representative Neal Reintroduces Retirement Simplification Legislation

This week, Representative Neal (D-MA) introduced The Retirement Plan Simplification and Enhancement Act of 2013. This bill is a reintroduction of H.R. 4050 from last year, with some changes. … More

More Legislative Documents

Letters to Agencies

ERIC and Other Groups Urge DOL to Put on Hold Proposed Disclosure Guide until Focus Group Testing Complete

ERIC, in addition to 10 other business trade associations, sent a letter to the Department of Labor recommending that the Department put the proposed ERISA section 408(b)(2) “guide” on hold until forthcoming focus group testing is completed … More

ERIC Urges DOL to Ensure Any Guidance on Brokerage Windows is Narrowly Tailored to Address Specific Concerns

The ERISA Industry Committee (ERIC) today submitted comments to the Department of Labor (DOL) responding to the agency’s request for information on brokerage windows in retirement plans.… More

protected content ERIC Submits Comment Letter on DOL RFI on Brokerage Windows

ERIC on November 19 submitted comments on the Department of Labor’s (DOL) Request for Information on the use of brokerage windows in participant-directed plans. … More

ERIC Joins Letter to Department of Labor on Fee Disclosures to Participants

ERIC has signed a joint business trade association letter to the Department of Labor regarding its required annual fee disclosures regulation. In FAB 2013-02, the Department stated that it was considering providing a 30-day or 45-day window in connection with the due date for submitting annual comparative charts under the regulation… More

protected content Massachusetts Regulator Calls on Congress and DOL to Strengthen Disclosures on 401(k) Plan Changes

Massachusetts Secretary of the Commonwealth William Galvin on June 12 called on Congress and the Department of Labor (DOL) to strengthen the rules on what employers must disclose to employees about changes in their 401(k) plans and when they must be told specifically in connection with matching grant contributions.… More

ERIC Urges DOL to Exclude Large Plans from Proposed Amendment to Require Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a “guide” or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Exclude Large Plans from Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a guide or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC and Other Trade Groups Write to Treasury on Retroactive Effect Issues in Windsor Decision

ERIC has joined with 13 other business trade associations in a letter asking the Treasury Department to use its authority under Internal Revenue Code section 7805(b)(8) to limit the extent of the decision’s retroactivity.… More

ERIC Urges DOL to Clarify 401(k) Fee Disclosure Guidance

The ERISA Industry Committee (ERIC), along with the Plan Sponsor Council of America (PSCA), and the U.S. Chamber of Commerce (the Chamber) today urged the Department of Labor (DOL) to clarify its previous guidance providing relief with respect to the fee disclosure requirements for participant-directed individual account plans (such as 401(k) plans).… More

ERIC Urges Flexibility on Lifetime Income Disclosures

ERIC submitted comments today to the Department of Labor (DOL) recommending that it provide employers with flexibility regarding lifetime income disclosures. … More

ERIC Urges DOL to Expand Safe Harbor for Electronic Disclosure by Employee Benefit Plans

ERIC News Release For Immediate Release: June 6, 2011 Washington, D.C. -- The ERISA Industry Committee (ERIC) on June 3 urged the… More

More Letters to Agencies

Letters to Congress

protected content Massachusetts Regulator Calls on Congress and DOL to Strengthen Disclosures on 401(k) Plan Changes

Massachusetts Secretary of the Commonwealth William Galvin on June 12 called on Congress and the Department of Labor (DOL) to strengthen the rules on what employers must disclose to employees about changes in their 401(k) plans and when they must be told specifically in connection with matching grant contributions.… More

More Letters to Congress

Press Releases

The DOL Must Modernize: How Old Rules Are Hurting Benefit Plans & Participants

The ERISA Industry Committee (ERIC) today testified before the Department of Labor’s (DOL) ERISA Advisory Council on Employee Welfare and Pension Benefit Plans about streamlining and eliminating unnecessary disclosure requirements placed on health and retirement plan sponsors… More

ERIC Urges DOL to Ensure Any Guidance on Brokerage Windows is Narrowly Tailored to Address Specific Concerns

The ERISA Industry Committee (ERIC) today submitted comments to the Department of Labor (DOL) responding to the agency’s request for information on brokerage windows in retirement plans.… More

ERIC Urges DOL to Exclude Large Plans from Proposed Amendment to Require Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a “guide” or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Exclude Large Plans from Fee Disclosure Guides

The ERISA Industry Committee (ERIC) today urged the Department of Labor (DOL) to exclude large plans from its proposal to require service providers to distribute a guide or similar tool to fiduciaries in order to satisfy the disclosure regulations under section 408(b)(2) of the Employee Retirement Income Security Act. … More

ERIC Urges DOL to Clarify 401(k) Fee Disclosure Guidance

The ERISA Industry Committee (ERIC), along with the Plan Sponsor Council of America (PSCA), and the U.S. Chamber of Commerce (the Chamber) today urged the Department of Labor (DOL) to clarify its previous guidance providing relief with respect to the fee disclosure requirements for participant-directed individual account plans (such as 401(k) plans).… More

ERIC Urges Flexibility on Lifetime Income Disclosures

ERIC submitted comments today to the Department of Labor (DOL) recommending that it provide employers with flexibility regarding lifetime income disclosures. … More

ERIC Applauds DOL for Providing Relief from Fee Disclosure Deadline for Participant-Directed Individual Plans

The ERISA Industry Committee (ERIC) applauds the Department of Labor (DOL) for providing temporary enforcement relief with respect to most of the fee disclosure requirements for participant-directed individual account plans under the Employee Retirement Income Security Act.… More

ERIC Urges DOL to Expand Safe Harbor for Electronic Disclosure by Employee Benefit Plans

ERIC News Release For Immediate Release: June 6, 2011 Washington, D.C. -- The ERISA Industry Committee (ERIC) on June 3 urged the… More

More Press Releases

Testimony

The DOL Must Modernize: How Old Rules Are Hurting Benefit Plans & Participants

The ERISA Industry Committee (ERIC) today testified before the Department of Labor’s (DOL) ERISA Advisory Council on Employee Welfare and Pension Benefit Plans about streamlining and eliminating unnecessary disclosure requirements placed on health and retirement plan sponsors… More

More Testimony