Paper View: DOL Proposes To Require Paper Benefit Statements In Certain Circumstances

On February 25, 2026, the U.S. Department of Labor (DOL) published proposed regulations addressing safe harbor methods of electronic delivery and distribution of participant benefit statements.

The Employee Retirement Income Security Act of 1974 (ERISA) requires retirement plan sponsors to provide participants and beneficiaries with a benefit statement:

• On a quarterly basis for defined contribution plans with participant-directed investments.
• On an annual basis for defined contribution plans without participant-directed investments.
• Every three years for defined benefit plans.

While certain DOL safe harbors have generally allowed electronic disclosure of these statements and other ERISA-mandated documents since 2002, the SECURE 2.0 Act of 2022 (SECURE 2.0) narrowed the ability of plan sponsors to electronically furnish these participant benefit statements. Now, the DOL is proposing new regulations that implement this restriction and increase plan sponsors' obligation to furnish paper documents. In its notice of proposed rulemaking, the DOL casts this as a matter of participant protection. By ensuring that at least some plan documents are provided on paper, the DOL hopes that more participants will read and understand important plan information.

Electronic Disclosure Safe Harbors and the Role of SECURE 2.0

In 2002, the DOL codified its first safe harbor regulation permitting the electronic disclosure of certain ERISA-mandated documents. The 2002 safe harbor allowed plan sponsors to provide required disclosures under Title I of ERISA electronically, for two classes of participants and beneficiaries: (1) “wired-at-work” individuals with job duties enabling them to access electronic documents as an integral part of their employment; and (2) other individuals who give affirmative consent to electronic disclosure.

In 2020, the DOL established a second safe harbor, allowing retirement plans to provide electronic disclosure automatically to individuals with a valid e-mail address (regardless of affirmative consent or wired-at-work status).

SECURE 2.0 subsequently amended ERISA to rein in the ability of retirement plan sponsors to electronically furnish participant benefit statements to retirement plan participants and beneficiaries. Retreating somewhat from the two safe harbors' expansion of electronic disclosure, SECURE 2.0 required paper disclosure for one mandatory pension benefit statement each year (or one every three years for defined benefit plans), unless a plan uses the 2002 safe harbor. SECURE 2.0's new rule went into effect on December 31, 2025. SECURE 2.0 also mandated revisions to the electronic delivery safe harbors, including additional explanatory language in electronic disclosures and a prohibition on fees for delivery of paper statements.

You've Got Mail: Unpacking the Proposed Regulations

Consistent with SECURE 2.0's mandate, the proposed regulations (if finalized) exclude the mandatory participant benefit statement from the 2020 safe harbor, which currently covers all ERISA Title I documents, and require the mandatory participant benefit statement to be furnished on paper. As provided in SECURE 2.0, the proposed regulations provide that the only exception to paper disclosure is for electronic delivery pursuant to the 2002 safe harbor.

The proposal also requires that participants be granted the opportunity to request electronic delivery of any benefit statement that would otherwise be furnished on paper. To facilitate this opportunity, each paper statement must include a mandatory explanation of how to request electronic delivery, as well as contact information for the plan sponsor, plan administrator or other designated plan representative.

The proposed regulations also modify the 2020 safe harbor to ensure that plans are prohibited from charging any fee to any participant or beneficiary for the delivery of paper pension benefit statements.

Additionally, the DOL proposes to amend the 2002 safe harbor so that plans must send a one-time notification, on paper, to all participants and beneficiaries who first become eligible for participation or benefits after December 31, 2025. The notification must inform recipients of their rights under ERISA to receive all ERISA-required documents on paper.

Finally, all ERISA-required document disclosures furnished electronically must include an explanation of how to request paper disclosures.

Turning the Page: Action Items for Plan Sponsors

The DOL is accepting comments on this proposed rulemaking until April 27, 2026. Until the DOL publishes the final regulations or other guidance, the DOL will not take enforcement actions against plan sponsors who comply in good faith with a reasonable interpretation of the proposed rulemaking. In other words, plan sponsors should generally treat this proposal as if it were effective immediately, until directed otherwise.

To facilitate compliance, retirement plan sponsors should consider the following actions:

• For plans which intend to rely on the 2002 safe harbor, allowing electronic disclosure to wired-at-work employees and individuals who give affirmative consent to electronic disclosure, plan sponsors should prepare and furnish the newly required notice to participants who become eligible to participate and beneficiaries who become entitled to a benefit after December 31, 2025, informing such individuals of their right to receive paper documents and how to request paper documents.
• Plans should prepare information for recipients on how to request electronic delivery and incorporate this information into each pension benefit statement to be furnished on paper, along with contact information for the plan sponsor.
• Plans should draft and incorporate an explanation of how to request documents in paper form into each ERISA-mandated document furnished electronically.
• Plans should work with service providers to confirm that no participant or beneficiary will be charged any fee for paper delivery of an ERISA-required pension benefit statement.
• Plans should work with service providers to develop a system of tracking which participants have requested electronic delivery of the pension benefit statement or are eligible for electronic delivery under the 2002 safe harbor, and those who must receive paper documents.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.