II 

114TH CONGRESS 

2D SESSION S. 3417 

To amend the Employee Retirement and Income Security Act of 1974 and 

the Internal Revenue Code of 1986 to provide for the electronic delivery 

of pension plan information. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 28, 2016 

Mr. BROWN (for himself and Mr. ENZI) introduced the following bill; which 

was read twice and referred to the Committee on Health, Education, 

Labor, and Pensions 

A BILL 

To amend the Employee Retirement and Income Security 

Act of 1974 and the Internal Revenue Code of 1986 

to provide for the electronic delivery of pension plan 

information. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Receiving Electronic 

5 Statements To Improve Retiree Earnings Act’’. 


SSpencer on DSK4SPTVN1PROD with BILLS
2 

•S 3417 IS

1 SEC. 2. ELECTRONIC COMMUNICATION OF PENSION PLAN 

2 INFORMATION. 

3 (a) AMENDMENTS TO EMPLOYEE RETIREMENT IN4 COME SECURITY ACT OF 1974.— 

5 (1) IN GENERAL.—Part 1 of subtitle B of title 

6 I of the Employee Retirement Income Security Act 

7 of 1974 (29 U.S.C. 1021 et seq.) is amended by 

8 adding at the end the following: 

9 ‘‘SEC. 112. ELECTRONIC COMMUNICATION OF PENSION 

10 PLAN INFORMATION. 

11 ‘‘A document of any type that is required under this 

12 title to be furnished to a plan participant, beneficiary, or 

13 other individual with respect to a pension plan may be fur14 nished in electronic form if— 

15 ‘‘(1) the system for furnishing such a docu16 ment— 

17 ‘‘(A) is designed to result in effective ac18 cess to the document by the participant, bene19 ficiary, or other specified individual through 

20 electronic means, including— 

21 ‘‘(i) the direct delivery of material to 

22 an electronic address of such participant, 

23 beneficiary, or individual, 

24 ‘‘(ii) the posting of material to a 

25 website or other internet or electronic26 based information repository to which acVerDate Sep 11 2014 03:11 Oct 01, 2016 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S3417.IS S3417

SSpencer on DSK4SPTVN1PROD with BILLS
3 

•S 3417 IS

1 cess has been granted to such participant, 

2 beneficiary, or individual, but only if prop3 er notice of the posting has been provided 

4 (which may include notice furnished by 

5 other electronic means if the content of the 

6 notice conveys the need to take action to 

7 access the posted material), and 

8 ‘‘(iii) other electronic means reason9 ably calculated to ensure actual receipt of 

10 the material by such participant, bene11 ficiary, or individual, 

12 ‘‘(B) permits the participant, beneficiary, 

13 or other individual to select among the specific 

14 electronic means made available through which 

15 such a document shall be furnished, to modify 

16 that selection at any time, or to elect at any 

17 time to begin receiving paper versions of such 

18 documents at no additional direct cost to the in19 dividual, and 

20 ‘‘(C) protects the confidentiality of per21 sonal information relating to such participant’s, 

22 beneficiary’s, or individual’s accounts and bene23 fits, 


SSpencer on DSK4SPTVN1PROD with BILLS
4 

•S 3417 IS

1 ‘‘(2) an annual paper notice is provided to each 

2 participant, beneficiary, or other individual that de3 scribes— 

4 ‘‘(A) the selection of the specific electronic 

5 means for the furnishing of such documents 

6 made by the participant, beneficiary, or other 

7 individual under paragraph (1)(B) in effect at 

8 the time of the provision of the notice, or 

9 ‘‘(B) if applicable, the election made by the 

10 participant, beneficiary, or other individual 

11 under paragraph (1)(B) to be furnished paper 

12 versions of such documents, and 

13 ‘‘(3) the electronically furnished document— 

14 ‘‘(A) is prepared and furnished in a man15 ner that is consistent with the style, format, 

16 and content requirements applicable to the par17 ticular document, and 

18 ‘‘(B) includes a notice that apprises the in19 dividual of the significance of the document 

20 when it is not otherwise reasonably evident as 

21 transmitted. 

22 For purposes of this section, the term ‘document’ in23 cludes reports, statements, notices, notifications, and 

24 other information.’’. 


SSpencer on DSK4SPTVN1PROD with BILLS
5 

•S 3417 IS

1 (2) CONFORMING AMENDMENT.—The table of 

2 contents in section 1 of such Act (29 U.S.C. 1001 

3 note) is amended by inserting after the item relating 

4 to section 111 the following: 

112. Electronic communication of pension plan information. 

5 (b) AMENDMENT TO INTERNAL REVENUE CODE OF

6 1986.—Section 414 of the Internal Revenue Code of 1986 

7 is amended by adding at the end the following: 

8 ‘‘(aa) ELECTRONIC COMMUNICATION OF PENSION

9 PLAN INFORMATION.—A document of any type that is re10 quired under this title to be furnished to a plan partici11 pant, beneficiary, or other individual with respect to a plan 

12 to which this subchapter or section 457 applies may be 

13 furnished in electronic form if— 

14 ‘‘(1) the system for furnishing such a docu15 ment— 

16 ‘‘(A) is designed to result in effective ac17 cess to the document by the participant, bene18 ficiary, or other specified individual through 

19 electronic means, including— 

20 ‘‘(i) the direct delivery of material to 

21 an electronic address of such participant, 

22 beneficiary, or individual, 

23 ‘‘(ii) the posting of material to a 

24 website or other internet or electronic25 based information repository to which acVerDate Sep 11 2014 03:11 Oct 01, 2016 Jkt 059200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S3417.IS S3417

SSpencer on DSK4SPTVN1PROD with BILLS
6 

•S 3417 IS

1 cess has been granted to such participant, 

2 beneficiary, or individual, but only if prop3 er notice of the posting has been provided 

4 (which may include notice furnished by 

5 other electronic means if the content of the 

6 notice conveys the need to take action to 

7 access the posted material), and 

8 ‘‘(iii) other electronic means reason9 ably calculated to ensure actual receipt of 

10 the material by such participant, bene11 ficiary, or individual, 

12 ‘‘(B) permits the participant, beneficiary, 

13 or other individual to select among the specific 

14 electronic means made available through which 

15 such a document shall be furnished, to modify 

16 that selection at any time, or to elect at any 

17 time to begin receiving paper versions of such 

18 documents at no additional direct cost to the in19 dividual, and 

20 ‘‘(C) protects the confidentiality of per21 sonal information relating to such participant’s, 

22 beneficiary’s, or individual’s accounts and bene23 fits, 


SSpencer on DSK4SPTVN1PROD with BILLS
7 

•S 3417 IS

1 ‘‘(2) an annual paper notice is provided to each 

2 participant, beneficiary, or other individual that de3 scribes— 

4 ‘‘(A) the selection of the specific electronic 

5 means for the furnishing of such documents 

6 made by the participant, beneficiary, or other 

7 individual under paragraph (1)(B) in effect at 

8 the time of the provision of the notice, or 

9 ‘‘(B) if applicable, the election made by the 

10 participant, beneficiary, or other individual 

11 under paragraph (1)(B) to be furnished paper 

12 versions of such documents, and 

13 ‘‘(3) the electronically furnished document— 

14 ‘‘(A) is prepared and furnished in a man15 ner that is consistent with the style, format, 

16 and content requirements applicable to the par17 ticular document, and 

18 ‘‘(B) includes a notice that apprises the in19 dividual of the significance of the document 

20 when it is not otherwise reasonably evident as 

21 transmitted. 

22 For purposes of this subsection, the term ‘document’ 

23 includes reports, statements, notices, notifications, 

24 and other information.’’. 


SSpencer on DSK4SPTVN1PROD with BILLS
8 

•S 3417 IS

1 (c) PROTECTION OF EXISTING METHODS.—Nothing 

2 in the amendments made by this section shall be construed 

3 to prohibit— 

4 (1) the furnishing of documents by electronic 

5 means under any law or under any regulations or 

6 guidance prescribed by the Secretary of Labor or the 

7 Secretary of the Treasury (referred to in this sub8 section as the ‘‘Secretaries’’) prior to the date of the 

9 enactment of this Act, or 

10 (2) the Secretaries from prescribing additional 

11 methods for furnishing documents as the Secretaries 

12 deem necessary or appropriate. 

13 (d) EFFECTIVE DATE.—The amendments made by 

14 this section shall apply with respect to documents fur15 nished with respect to plan years beginning after Decem16 ber 31, 2016. 

Æ 


SSpencer on DSK4SPTVN1PROD with BILLS