Disclosures & Rights to Information

Disclosures & Rights to Information

What retirement plan information do you have a right to receive?

Federal law requires private retirement plans to give certain information to all plan members so they can learn about the rules of their retirement plan, the benefits they have earned, and their rights and obligations under their plans. Documents and notices that include this information are called disclosures. Disclosures must be written in a manner easily understood by an average participant. Disclosures must be delivered in a timely manner and by a method that ensures actual receipt.

It is important to keep plan disclosures for your records in case you later need them to understand your benefits or to prove your right to retirement benefits. It is also important to review disclosures when you receive them to be sure that the plan administrator has your correct information, such as your address.

What kinds of information do plan disclosures contain?
What plans must provide disclosures?
When will I receive disclosures from my retirement plan?
Why are disclosures important?
There is a lot of controversy about disclosures. 

Disclosures & Rights to Information Highlights:

Fact Sheets and Issue Papers
07/21/20

Disclosures you may receive from your retirement plan

Fact Sheets and Issue Papers
07/24/20

The Labor Department’s Notice-and-Access Disclosure Rule: The Basics

Fact Sheets and Issue Papers
07/24/20

The Top 10 Worst Things about the Department of Labor’s New “Notice-and-Access” Rule for Retirement Plans

The Latest on Disclosures & Rights to Information:

Press Release
09/20/23

PRC Urges Protections for Electronic Recordkeeping of Pension Information

Electronic recordkeeping of employee benefits plan information can aid plan administration efficiency and reduce costs for employers, but also poses increased difficulties and risks for plan members that the U.S. Labor Department must address, the Pension Rights Center will tell the ERISA Advisory Council during testimony the morning of September 20.   Pension Rights Center Acting […]

Blogs & Newsletters
07/26/23

PRC urges additional consumer protections when employers unload pension liabilities

Should the U.S. Department of Labor’s (DOL) rules be strengthened to better protect workers and retirees when employers unload their pension responsibilities in so-called “de-risking” transactions? That was the question asked and addressed during an all-day hearing July 18 convened by DOL’s ERISA Advisory Council. Norman Stein, PRC’s Senior Policy and Legal Counsel who testified […]

Blogs & Newsletters
06/02/23

When Swimming in 401(k) Asset Transfer Water: Beware of Sharks

By David Brandolph I expect a 401(k)-type plan customer service call center to be a place to get impartial information about the plan and one’s account. But a recent experience with a center representative has made me question the impartiality of anyone—including such a representative–who recommends transferring plan assets to an IRA, particularly if that […]

Comments & Letters
05/15/23

Senior Policy Consultant Norman Stein Testifies Before the IRS

PRC’s Senior Policy Consultant Norman Stein testified before the IRS and the Department of the Treasury on April 11th, urging them to take measures to protect spousal retirement rights. Read his testimony here:

Blogs & Newsletters
01/18/23

PRC applauds passage of priority consumer protections in new retirement law

By Karen Friedman The Pension Rights Center (PRC) applauds the recent inclusion of several key consumer provisions in the Setting Every Community up for Retirement Enhancement Act (better known as SECURE 2.0), a retirement legislative package that was passed as part of the Omnibus spending legislation, which President Biden signed into law on December 29th.  […]

Comments & Letters
08/11/22

PRC Recommendations to IRS on Agenda Items for the 2022-2023 IRS Priority Guidance Plan

The  Pension Rights Center submitted comments to  the  IRS requesting the  agency  to include in  its Priority Guidance Plan several items to  better  protect consumers,  including: (a)  directing  plans to provide  former employees  who leave before retirement  with  a single  complete  statement  of  their earned benefits ; (b) asking the agency to rethink its position on allowing plans […]

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