It’s 2019 and one area that the Department of Labor (DOL) could help both the retirement plan industry and plan sponsors out is making electronic disclosures and notices the default option and go with the times. Sure, the paper industry will lobby to stop this, but I think the DOL should allow everyone to handle disclosures and notices the way we deal with most things these days.

As long as participants who have no access to a computer or are computer-averse have protection, making e-disclosures the norm will save the industry money, which means less cost to both the plan providers and the plan sponsors. It’s a win-win.