U S Government Accountability Office

Defense Infrastructure U S Government Accountability Office

With the advent of new technology, sponsors of U. S. private-sector pension plans have begun to deliver plan information to participants electronically in an effort to reduce plan costs and provide greater participant choice. Yet there are concerns that use of electronic disclosure could make it more difficult for some plan participants to receive important information about their plans. GAO was asked to review issues related to electronic disclosure. For this report, GAO: (1) examined the extent to which law and regulations permit electronic disclosure to participants; (2) explored the reported advantages and disadvantages associated with electronic delivery; and (3) evaluated the weaknesses identified, if any, in the agencies electronic delivery requirements. In conducting this work, GAO reviewed and analyzed relevant federal statutes and regulations; stakeholder responses to Labors 2011 request for information on electronic disclosure; and any weaknesses identified in interviews of participant advocates and industry representatives, selected by GAO to capture a broad array of perspectives.