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Roe Applauds Department of Labor Rule to Improve Retirement Plan Disclosure

Statement

By: Phil Roe
By: Phil Roe
Date: May 21, 2020
Location: Johnson City, TN
Issues: Senior Citizens Technology and Communication

Today, Rep. Phil Roe, M.D. (R-Tenn) released the following statement after the U.S. Department of Labor (DOL) announced its final rule on default electronic disclosures for retirement plans:

"As a long-time supporter of e-delivery, I applaud Secretary Scalia and DOL for issuing this commonsense rule to allow retirement plan participants to receive documents electronically by default. E-delivery will save plan participants money in the form of lower plan fees by allowing plans to make full use of available technology. Importantly, this rule also ensures plan participants can opt to receive paper documents at no additional cost if they choose to opt out of e-delivery. This rule is substantially similar to a bill I cosponsored, the RETIRE Act, and I am pleased to see DOL implement this rule."


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