H.R.4610 - Receiving Electronic Statements To Improve Retiree Earnings Act115th Congress (2017-2018)
|Sponsor:||Rep. Polis, Jared [D-CO-2] (Introduced 12/11/2017)|
|Committees:||House - Education and the Workforce; Ways and Means|
|Latest Action:||House - 12/11/2017 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
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Summary: H.R.4610 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (12/11/2017)
Receiving Electronic Statements To Improve Retiree Earnings Act
This bill amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to authorize the electronic delivery of pension plan documents required to be furnished to a plan participant, beneficiary, or other individual.
The system for furnishing such a document must: (1) be designed to result in effective access to the document, (2) permit the recipient to select the electronic means through which the document is received or request paper documents, and (3) protect the confidentiality of personal information.
An annual paper notice must be provided describing:
- the selection of electronic means for furnishing documents,
- the right to modify the selection or to elect to receive paper versions of the documents at no additional direct cost and how to make the election, and
- any election that has been made to receive paper documents.
An electronically furnished document must be prepared and furnished in a manner that is consistent with the style, format, and content requirements for the document. It must also include a notice that apprises the individual of the significance of the document when it is not otherwise reasonably evident as transmitted.