Participants in private retirement systems who receive their pension plan information electronically face the possibility of missing important information in part because of conflicting regulations, the Government Accountability Office said in a report.
Both plan providers and participants told the GAO that while the use of electronic disclosure is gaining in popularity because of decreased printing costs and the ease of delivering and saving information, privacy concerns and the possibility of data being sent to old email addresses was a concern.
The GAO recommended that the secretaries of Labor and Treasury work together to come up with "clear and consistent requirements for default electronic delivery of pension-related disclosures."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
