INSIGHT Act

Key Points

• The bill requires the Labor Department to give Congress a yearly report on its investigations into employee benefit plans. This includes details on when investigations started and if they are taking longer than three years to finish.
• It aims to stop the government from helping private lawyers sue employers without being open about it. If the Labor Department helps a lawyer with a lawsuit, they must sign a written agreement and tell the employer being sued.
• The report to Congress would include a log of all meetings and messages between the government and private lawyers. This is meant to ensure the government is not playing favorites or helping with private lawsuits behind closed doors.
• To protect privacy, the public reports will not name specific workers or individual benefit plans. Instead, they will focus on how the government is using its time and resources to enforce the law.
• The bill also states that it is official U.S. policy to encourage companies to offer retirement plans. Supporters believe that making investigations more transparent will prevent employers from being scared away from offering these benefits.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.