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E-disclosure should lower fees too

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It’s great that the Department of Labor (DOL) has finally embraced the electronic disclosure of important ERISA notices. It took them a long time, but when your business is trying to protect participant rights, this is what you have to do, wait.

 

I’m a big fan of e-disclosure because it eliminates the bulk of the headaches associated with participant notices, mailing them, Also, it will save the lives of countless trees and it should save money for plan providers by eliminating mailing costs (much of which is directly passed on to the participants). With so much competition in the retirement plan marketplace, I can’t see third party administrators simply putting any savings in mailings in their pocket.

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