A Paper Tiger?

“We’ve only just passed the effective date for the new e-delivery rules—but the campaign to undermine their impact is already underway.

Coincident with the official effective date of the new rules, the Pension Rights Center, a pension advocacy group, has just unveiled an “Ask for Paper” campaign in which it is pushing retirees and workers to “to tell their pension and 401(k) plans that they want to continue receiving their key retirement information on paper…”

That’s right—they are asking for workers to proactively ask for plan information the “old-fashioned” way.

Now, there’s nothing wrong with that. The beauty of the Labor Department’s rule on e-disclosure is that it doesn’t require anybody to change anything. Not only are the old safe harbor rules still in place, even for those plans that do adopt the new rule, any worker who wants to keep getting paper has the option to do so. And, if the worker changes their mind at some point in the future, they have the option to do that as well.” Continue reading.

Source: National Association of Plan Advisors
7-minute read.