DOL expands options for SECURE 2.0 paper statement compliance
SECURE 2.0’s paper statement requirement
Unless an exception applies, SECURE 2.0 requires that plan administrators deliver periodic benefit statements on paper at certain intervals, depending on the type of plan.
- Annually for defined contribution (DC) plans. DC plans that allow participants to direct their investments must furnish benefit statements at least quarterly. Those that don’t permit participants to direct their investments must furnish a benefit statement annually. SECURE 2.0 generally requires at least one of these statements to be provided on paper each year.
- Every three years for defined benefit (DB) plans. DB plans must furnish a benefit statement to active participants with vested accrued benefits every three years. SECURE 2.0 generally requires this benefit statement to be provided on paper. (However, many DB plans deliver an annual notice of statement availability in lieu of the benefit statement.)
Exceptions to the paper statement requirement. SECURE 2.0 provides that benefit statements needn’t be provided on paper if the statement is furnished electronically under DOL’s 2002 e-delivery safe harbor or the participant has affirmatively requested electronic delivery. SECURE 2.0 also directs DOL to make certain updates to its two e-disclosure regulations by December 31, 2024, in connection with these exceptions. DOL proposed changes to these regulations on February 25, 2026, and indicated that plan administrators who comply with a reasonable, good-faith interpretation of that proposal won’t face agency enforcement action for violating SECURE 2.0’s paper statement requirement (see DOL finally delivers proposed SECURE 2.0 e-disclosure rule changes (March 25, 2026)).
Expanded temporary enforcement policy
Although DOL already provided nonenforcement relief for good-faith compliance with the proposal, the FAB provides additional relief for plan administrators that comply in good faith with a reasonable interpretation of SECURE 2.0’s statutory paper statement provision. DOL is providing this relief “to provide clarity and assurance to plan administrators” in response to “recent inquiries” about compliance with SECURE 2.0’s paper statement requirement.
Reliance on current 2002 e-delivery safe harbor. The FAB indicates that this relief includes the ability to rely on the agency’s current 2002 e-delivery safe harbor. That safe harbor lets administrators furnish ERISA disclosures electronically to current employees who are “wired at work” (i.e., those who can effectively access electronic documents at work and have access to the employer's electronic information system as an integral part of their work duties).
This would allow plan administrators to avoid complying with DOL’s proposed changes to the safe harbor for employees who first become eligible to participate after December 31, 2025. Those changes would include:
- Providing a new one-time paper notice to these participants before delivering the required benefit statement electronically
- Giving these participants the ability to opt out of e-delivery of all required ERISA disclosures
Current 2020 e-delivery safe harbor isn’t covered. The FAB doesn’t specifically allow plan administrators to continue relying on DOL’s existing alternative 2020 e-delivery safe-harbor regulation. Under that safe harbor, retirement plan administrators can furnish e-disclosures through email or a “notice-and-access” framework that alerts participants when documents are posted to a website or other digital platform. Plan administrators wanting to rely on that safe harbor apparently would have to reflect DOL’s proposed changes, which would require plan administrators to:
- Deliver the required benefit statement to all participants on paper, unless participants affirmatively request e-delivery — which the plan would need to provide as an option
- Ensure that participants aren’t charged fees for any paper statements, including duplicate paper copies of statements previously furnished electronically or on paper
Enforcement policy is only binding on DOL. This enforcement policy is only binding on DOL and may not prevent participants and beneficiaries from pursuing claims under ERISA’s civil enforcement provisions, which provide for penalties up to $110 per day per affected participant for an administrator’s failure to deliver benefit statements. Plan administrators considering relying on the enforcement policy may wish to talk with legal counsel.
Related resources
Non-Mercer resources
- Field Assistance Bulletin No. 2026-02 (DOL, May 12, 2026)
- Proposed regulations on requirement to provide paper statement in certain cases (Federal Register, February 25, 2026)
Mercer Law & Policy resources
- User’s guide to SECURE 2.0 (periodically updated)
- DOL finally delivers proposed SECURE 2.0 e-disclosure rule changes (March 25, 2026)
- USPS postmark changes could affect employee benefit plans (March 24, 2026)