Washington – President and CEO of The ERISA Industry Committee (ERIC), James Gelfand, released the following statement applauding the Trump Administration and the Department of Labor (DOL) for their thoughtful leadership in proposing updates to modernize communication requirements for employees and employers related to health and welfare plan disclosures.
“Today’s proposed rule from DOL represents a meaningful and welcome step toward default electronic delivery of ERISA health and welfare plan disclosures—one that reflects how working Americans already access, manage, and engage with their benefits information today.
“ERIC is grateful for the Administration’s attention to this important issue and thanks the DOL and Acting Secretary Sonderling for recognizing that modern, secure, and accessible communications can better serve employees while reducing unnecessary administrative burdens for employers. When finalized, this DOL rule will help employers devote more time and resources to delivering high-quality benefits, supporting their workforce, and ensuring employees receive the information they need in a timely and practical way.
“This proposal is a win for employees and employers alike. Today, every worker has a smartphone, and nobody benefits when archaic requirements lead to billions of dollars being wasted on paper, ink, and snail mail.
“We look forward to providing comments on the proposed rule and continuing to work constructively with the Administration to ensure millions of Americans receive timely, secure, accessible, and user-friendly communications about their health benefits.”