Electronic Delivery Guidance Under Section 404(a) ERISA

SIFMA and other associations provide comments to the U.S. Department of Labor (DOL) and the Office of Management and Budget (OMB) on electronic delivery guidance under Section 404(a) of the Employee Retirement Income Security Act (ERISA).  The proposal sets forth new requirements for the disclosure of plan and investment related information, including fee and expense information, to participants and beneficiaries of participant-directed individual account plans subject to ERISA. The groups seek guidance that would facilitate the delivery of the required disclosures via electronic means.

The groups that signed the letter include: SIFMA, American Bankers Association (ABA), American Benefit Council, (ABC), American Council of Life Insurers (ACLI), American Society of Pension Professionals & Actuaries, Committee on Investment of Employee Benefit Assets, Defined Contribution Institutional Investment Association, ERISA Industry Committee, Financial Services Roundtable (FSR), Insured Retirement Institute (IRI), Investment Company Institute (ICI), Profit Sharing/401(k) Council of America, Small Business Council of America, Society for Human Resource Management, SPARK Institute, and U.S. Chamber of Commerce.