Report: Reducing the Burden and Increasing the Effectiveness of Mandated Disclosures with Respect to Employment-Based Health Benefit Plans in the Private Sector

This document is about a report from the ERISA Advisory Council that examined ways to reduce the regulatory burden of mandated disclosures for health and welfare plans while still satisfying the disclosure objectives and improving the usefulness of such disclosures. The Council made recommendations around eliminating the Summary Annual Report requirement, consolidating annual notices into a single annual notice, and modifying Summary Plan Description distribution requirements to allow a short resource reference tool updated annually as a safe harbor method of compliance.