Sec. 241. Electronic communication of pension plan information
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Part 1 of subtitle B of title 1 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1021 et seq. ) is amended by adding at the end the following new section: Any document that is required or permitted under this title to be furnished to a plan participant, beneficiary, or other individual with respect to a pension plan may be furnished in electronic form if— the system for furnishing such a document— is designed to result in access to the document by the participant, beneficiary, or other specified individual through electronic means, including— the direct delivery of material to an electronic address of such participant, beneficiary, or individual, the posting of material to a website or other internet or electronic-based information repository to which access has been granted to such participant, beneficiary, or individual, but only if proper notice of the posting has been provided (which may include notice furnished by other electronic means if the content of the notice conveys the need to take action to access the posted material), and other electronic means reasonably calculated to ensure actual receipt of the material by such participant, beneficiary, or individual, and protects the confidentiality of personal information relating to such participant's, beneficiary's, or individual's accounts and benefits; the participant or beneficiary has not elected to receive a paper version of such document; notice is provided to each participant or beneficiary, in electronic or non-electronic form, before a document is furnished electronically, that apprises the individual of the right to elect to receive a paper version of such document; and the electronically furnished document— is prepared and furnished in a manner that is consistent with the style, format, and content requirements applicable to the particular document; and includes a notice that apprises the individual of the significance of the document when it is not otherwise reasonably evident as transmitted.
For purposes of this section, the term document includes reports, statements, notices, notifications, and other information. . Section 414 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: Any document that is required or permitted under this title to be furnished to a plan participant, beneficiary, or other individual with respect to a pension plan may be furnished in electronic form if— the system for furnishing such a document— is designed to result in access to the document by the participant, beneficiary, or other specified individual through electronic means, including— the direct delivery of material to an electronic address of such participant, beneficiary, or individual, the posting of material to a website or other internet or electronic-based information repository to which access has been granted to such participant, beneficiary, or individual, but only if proper notice of the posting has been provided (which may include notice furnished by other electronic means if the content of the notice conveys the need to take action to access the posted material), and other electronic means reasonably calculated to ensure actual receipt of the material by such participant, beneficiary, or individual, and protects the confidentiality of personal information relating to such participant's, beneficiary's, or individual's accounts and benefits; the participant or beneficiary has not elected to receive a paper version of such document; notice is provided to each participant or beneficiary, in electronic or non-electronic form, before a document is furnished electronically, that apprises the individual of the right to elect to receive a paper version of such document; and the electronically furnished document— is prepared and furnished in a manner that is consistent with the style, format, and content requirements applicable to the particular document; and includes a notice that apprises the individual of the significance of the document when it is not otherwise reasonably evident as transmitted.
For purposes of this subsection, the term document includes reports, statements, notices, notifications, and other information. . The amendments made by this section shall apply with respect to documents furnished with respect to plan years beginning after December 31, 2013.
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Sec. 241
Electronic communication of pension plan information
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