Sec. 302. Investigatory authority
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Section 4003(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1303(a) ) is amended to read as follows: The corporation may, in its discretion, investigate any facts, conditions, practices, or matters as the corporation determines necessary or proper to aid in— the enforcement of any provision of this title or any rule or regulation thereunder; the prescribing of rules and regulations under this title; or evaluating the corporation's liability or potential liability with respect to a plan.
Any information or documentary material submitted to the corporation pursuant to this section, if clearly designated by the person making the submission as confidential (on each page in the case of a document, and in the file name in the case of a digital file), shall be exempt from disclosure under section 552 of title 5, United States Code, and no such information or documentary material may be made public, except as may be relevant to any administrative or judicial action or proceeding, including an informal rulemaking.
The corporation may require or permit any person to submit a statement in writing, under oath or otherwise as the corporation determines, as to all facts and circumstances concerning the matter to be investigated. The corporation shall annually audit a statistically significant number of plans terminating under section 4041(b) to determine whether participants and beneficiaries have received their benefit commitments and whether section 4050(a) has been satisfied. Each audit shall include a statistically significant number of participants and beneficiaries. .
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Sec. 302
Investigatory authority
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