Following are the comments that ASPPA posted on the DOL's web portal:

Optional Exclusion of 403(b) Contracts Prior to 2009: We recommend that the DOL issue regulatory guidance to allow 403(b) contracts issued before 2009 to be excluded from the Form 5500 financial statements per Field Assistance Bulletins 2009-02 and 2010-01. We also recommend that the DOL appoint a committee of experts to review and suggest modifications to the audit guidelines for 403(b) plans.
Electronic Disclosure to Participants as the Default Option: We recommend that DOL Regulation § 2520.104b-1 pertaining to the electronic transmission of ERISA notices be changed to adopt an "opt-out" approach, where the default would be electronic delivery. Participants who would prefer to receive their disclosures in paper form could elect to do so without charge
Self-Correction Program for Voluntary Fiduciary Correction Program (VFCP): We recommend the DOL allow for a self-correction option under VFCP for the late deposit of employee 401(k) contributions if the "Online Calculator" is used to determine lost earnings and certain other requirements are met.

For more detail on these recommendations, please see ASPPA's comment letter filed with the DOL. We look forward to the release of DOL's preliminary plan to outline which regulations considered for review to reduce the regulatory burden this May."

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ASPPA responds to DOL regulatory burden request

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