SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Receiving Electronic Statements To 
Improve Retiree Earnings Act''.

SEC. 2. ELECTRONIC COMMUNICATION OF PENSION PLAN INFORMATION.

    (a) Amendments to Employee Retirement Income Security Act of 
1974.--
            (1) In general.--Part 1 of subtitle B of title I 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:

``SEC. 112. ELECTRONIC COMMUNICATION OF PENSION PLAN INFORMATION.

    ``A document of any type 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--
            ``(1) the system for furnishing such a document--
                    ``(A) is designed to result in effective access to 
                the document by the participant, beneficiary, or other 
                specified individual through electronic means, 
                including--
                            ``(i) the direct delivery of material to an 
                        electronic address of such participant, 
                        beneficiary, or individual,
                            ``(ii) 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
                            ``(iii) other electronic means reasonably 
                        calculated to ensure actual receipt of the 
                        material by such participant, beneficiary, or 
                        individual,
                    ``(B) permits the participant, beneficiary, or 
                other individual to select the specific electronic 
                means through which such a document shall be furnished, 
                to modify that selection at any time, or to elect at 
                any time to begin receiving paper versions of such 
                documents at no additional direct cost to the 
                individual, and
                    ``(C) protects the confidentiality of personal 
                information relating to such participant's, 
                beneficiary's, or individual's accounts and benefits,
            ``(2) an annual paper notice is provided to each 
        participant, beneficiary, or other individual that describes--
                    ``(A) the selection of the specific electronic 
                means for the furnishing of such documents made by the 
                participant, beneficiary, or other individual under 
                paragraph (1)(B) in effect at the time of the provision 
                of the notice, or
                    ``(B) if applicable, the election made by the 
                participant, beneficiary, or other individual under 
                paragraph (1)(B) to be furnished paper versions of such 
                documents, and
            ``(3) the electronically furnished document--
                    ``(A) is prepared and furnished in a manner that is 
                consistent with the style, format, and content 
                requirements applicable to the particular document, and
                    ``(B) 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.''.
            (2) Conforming amendment.--The table of contents in section 
        1 of such Act (29 U.S.C. 1001 note) is amended by inserting 
        after the item relating to section 111 the following:

112. Electronic communication of pension plan information.
    (b) Amendment to Internal Revenue Code of 1986.--Section 414 of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following:
    ``(z) Electronic Communication of Pension Plan Information.--A 
document of any type that is required or permitted under this title to 
be furnished to a plan participant, beneficiary, or other individual 
with respect to a plan to which this subchapter or section 457 applies 
may be furnished in electronic form if--
            ``(1) the system for furnishing such a document--
                    ``(A) is designed to result in effective access to 
                the document by the participant, beneficiary, or other 
                specified individual through electronic means, 
                including--
                            ``(i) the direct delivery of material to an 
                        electronic address of such participant, 
                        beneficiary, or individual,
                            ``(ii) 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
                            ``(iii) other electronic means reasonably 
                        calculated to ensure actual receipt of the 
                        material by such participant, beneficiary, or 
                        individual,
                    ``(B) permits the participant, beneficiary, or 
                other individual to select the specific electronic 
                means through which such a document shall be furnished, 
                to modify that selection at any time, or to elect at 
                any time to begin receiving paper versions of such 
                documents at no additional direct cost to the 
                individual, and
                    ``(C) protects the confidentiality of personal 
                information relating to such participant's, 
                beneficiary's, or individual's accounts and benefits,
            ``(2) an annual paper notice is provided to each 
        participant, beneficiary, or other individual that describes--
                    ``(A) the selection of the specific electronic 
                means for the furnishing of such documents made by the 
                participant, beneficiary, or other individual under 
                paragraph (1)(B) in effect at the time of the provision 
                of the notice, or
                    ``(B) if applicable, the election made by the 
                participant, beneficiary, or other individual under 
                paragraph (1)(B) to be furnished paper versions of such 
                documents, and
            ``(3) the electronically furnished document--
                    ``(A) is prepared and furnished in a manner that is 
                consistent with the style, format, and content 
                requirements applicable to the particular document, and
                    ``(B) 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.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to documents furnished with respect to plan years 
beginning after December 31, 2015.
Receiving Electronic Statements To Improve Retiree Earnings Act This bill amends the&nbsp;Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code&nbsp;to authorize a document of any type that is required or permitted to be furnished to a retirement plan participant, beneficiary, or other individual to be furnished in electronic form if: (1) the system for furnishing such a document is designed to result in effective access to the document; (2) an annual paper notice is provided to each pension plan participant, beneficiary, or other individual that describes the selection of the specific electronic means&nbsp;for the furnishing of such document; and (3) the electronically-furnished document is prepared and furnished in an appropriate style and format and includes a notice that apprises the recipient of the significance of the document. 
Receiving Electronic Statements To Improve Retiree Earnings Act