Planadviser

DOL Proposes New Electronic Disclosure Rule

By Lee Barney

Edward Gottfried, group product manager at Betterment for Business, adds, “The DOL’s new electronic disclosure rule will not only reduce paper usage and cut significant costs across the industry, but will also be beneficial in making sure plan participants are updated on disclosures in a modern and timely fashion. This is an important step in modernizing the industry overall and giving participants more choices for how they access information. We’ve seen strong inclination from plan sponsors and their employees to provide as much documentation digitally as possible, and we’re glad that policy now reflects that opinion.”

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This article originally published October 22nd, 2019 on Planadviser.

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