New Proposed DOL Rule Would Amend the Rules related to Electronic and Paper Disclosures for Retirement Plans

In February 2026, the Department of Labor (DOL) issued proposed regulations to implement SECURE 2.0’s requirement that retirement plans provide paper pension benefit statements in certain cases, and to make related updates to the DOL’s electronic disclosure safe harbors.

The Current Electronic Disclosure Rules

As a refresher, under current law, plan sponsors can rely on one of the following safe harbors to provide electronic disclosures (absent participant request to provide paper copies) to plan participants:

• 2002 Safe Harbor: Job Duties – Allows e-delivery of participant disclosures as the default method of delivery for current employees if access to employer’s electronic information systems is an integral part of such employees’ job duties. The 2002 safe harbor also permits e-delivery based on affirmative consent, but only if certain disclosure requirements are met.
• 2020 Safe Harbor: Initial Notice – Allows default electronic disclosure if a participant or beneficiary provided a valid electronic address (such as an email address or smartphone number, including an employer-assigned address), and the plan sponsor provides an initial paper notice explaining the right to opt-out at no cost.

Proposed Amendments

To summarize, if passed, the proposed amendments would, for plan years beginning after December 31, 2025:

• Defined Contribution Plan Statement Requirement: Require defined contribution plans to furnish at least one paper pension benefit statement to participants each calendar year, unless an exception applies.
• Defined Benefit Plan Statement Requirement: Require defined benefit plans to furnish at least one paper pension benefit statement to participants every three calendar years, unless an exception applies.
• Opt‑In to Electronic Statements: Require paper pension benefit statements to explain how participants may affirmatively elect electronic delivery of future statements (and include contact information, including a telephone number).
• No Fees. Prohibit plans using the 2020 safe harbor from charging any fees for the delivery of any paper pension benefit statements, including duplicate copies.
• Notice for Newly Eligible Individuals: For employers relying on the 2002 safe harbor, require a one-time paper notice to be provided (for individuals who first become eligible after December 31, 2025), before any electronic pension benefit statement is provided, clearly explaining the individual’s right to receive all documents required to be disclosed by the plan on paper in written form.

Other proposed changes for plans using the 2020 safe harbor include excluding the mandatory paper benefit statement from the list of documents that may be furnished electronically by default (unless the individual requests electronic delivery instead).

SGR continues to monitor the proposed regulations. If you have questions, contact your SGR Employee Benefits Counsel.

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