DOL Requests Reporting and Disclosure Information for SECURE 2.0

The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a request for information(RFI) to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements. These provisions require either the establishment of or revision of requirements, or review and report to Congress on existing or new requirements. Applicable sections of SECURE 2.0 addressed in this RFI include

Section 105 Pooled Employer Plans Modification
Section 344 Report on Pooled Employer Plans
Section 127 Emergency Savings Accounts Linked to Individual Account Plans
Section 318 Performance Benchmarks for Asset Allocation Funds
Section 340 Defined Contribution Plan Fee Disclosure Improvements
Section 320 Eliminating Unnecessary Plan Requirements Related to Unenrolled Participants
Section 338 Requirement to Provide Paper Statements in Certain Cases
Section 341 Consolidation of Defined Contribution Plan Notices
Section 342 Information Needed for Financial Options Risk Mitigation
Section 343 Defined Benefit Annual Funding Notices