EBSA Investigations Transparency Act

H.R. 2869, the EBSA Investigations Transparency Act, would require the Secretary of Labor to submit annual reports to Congress detailing the status of investigations into employee retirement and health benefit plans. The bill would mandate that these reports include information such as which regional or district office is handling each investigation, when it was opened, and when the department first requested documents from the target of the investigation.

The bill would also require the Labor Department to explain whether investigations are concluded within a 36-month period, and if not, to provide reasons for the delay. However, the reports would not identify any private parties involved in the investigations, such as plan sponsors, fiduciaries, service providers, employees, or participants. If enacted, the bill would cost less than $500,000 to implement over a five-year period and would provide Congress with greater oversight of the department's investigative activities related to employee benefit plans.