[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2869 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 2869

To amend the Employee Retirement Income Security Act of 1974 to require 
that the Employee Benefit Security Administration make an annual report 
                     to Congress on investigations.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 10, 2025

 Mrs. McClain (for herself, Mr. Walberg, and Mr. Owens) introduced the 
 following bill; which was referred to the Committee on Education and 
                               Workforce

_______________________________________________________________________

                                 A BILL


 
To amend the Employee Retirement Income Security Act of 1974 to require 
that the Employee Benefit Security Administration make an annual report 
                     to Congress on investigations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Employee Benefit Security 
Administration Investigations Transparency Act'' or the ``EBSA 
Investigations Transparency Act''.

SEC. 2. ANNUAL REPORT ON INVESTIGATIONS.

    Section 504 of the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1134) is amended by adding at the end the following:
    ``(f) Report on Investigations.--
            ``(1) In general.--Not later than December 31 of each year 
        following the date of enactment of this Act, the Secretary 
        shall submit to Congress a report on the status of cases in 
        enforcement status, including investigations that are active, 
        or in relation to which the Secretary asserted investigative 
        authority or engaged in targeted compliance monitoring, under 
        section 504(a), during the preceding fiscal year.
            ``(2) Contents.--
                    ``(A) In general.--The report required under 
                subsection (a) shall include the following information 
                in relation to each investigation conducted under 
                section 504(a):
                            ``(i) The regional or district office, or 
                        any other office, of the Employee Benefit 
                        Security Administration that opened the 
                        investigation.
                            ``(ii) The date the investigation was 
                        opened.
                            ``(iii) The date on which the Secretary 
                        first requested documents from the target of 
                        the investigation.
                            ``(iv) In relation to the date on which the 
                        Secretary first requested documents from the 
                        target of the investigation in relation to such 
                        investigation--
                                    ``(I) whether the investigation was 
                                concluded within the 36-month period 
                                beginning on the date of such request; 
                                and
                                    ``(II) if such investigation has 
                                not been concluded by the end of such 
                                36-month period--
                                            ``(aa) information on why 
                                        such investigation has not been 
                                        concluded; and
                                            ``(bb) the estimated date 
                                        of conclusion.
                    ``(B) Excluded information.--The report shall not 
                include information identifying any private party to 
                the investigation, including any plan sponsor, 
                fiduciary, service provider, employee, or participant.
                    ``(C) Conclusion of investigations.--For the 
                purposes of paragraph (A)(iv), an investigation shall 
                not be considered concluded until the later of--
                            ``(i) the date on which the Secretary 
                        ceases to assert investigative authority in 
                        relation to such investigation; or
                            ``(ii) if applicable, terminates any 
                        targeted compliance monitoring,
                in each case as memorialized in a closing letter 
                delivered to the target of the investigation or the 
                party subject to compliance monitoring. In the event 
                that the issues or topics under investigation change 
                during the course of an investigation, the Secretary's 
                continuing assertion of authority under section 504 
                shall be treated as a continuing investigation and not 
                as a separate investigation.''.
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