EBSA Investigations Transparency Act
Retirement and Health Plan Investigations: New Reporting Rules
Legislative Progress
Key Points
- This bill requires the Employee Benefit Security Administration to send a report to Congress every year detailing its investigations into workplace benefit plans, such as 401(k)s and health insurance.
- The report must include which office started the investigation, when it began, and when the agency first asked the company for documents.
- If an investigation lasts longer than three years, the agency must explain to Congress why it is taking so long and provide an estimated date for when it will be finished.
- To protect the privacy of businesses and workers, the public reports will not include the names of specific companies, employees, or plan managers.
- This change is intended to make the government more accountable for how quickly it handles cases and to ensure that investigations into employee benefits do not drag on indefinitely without explanation.
Impact Analysis
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Milestones
Placed on the Union Calendar, Calendar No. 418.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-491.
Ordered to be Reported (Amended) by the Yeas and Nays: 19 - 16.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Education and Workforce.
Votes
No votes have been recorded for this legislation yet.
News
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Source Information
Document Type
Congressional Bill
Official Title
EBSA Investigations Transparency Act
Data Sources
Sponsor
Cosponsors
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