ERIC To DOL: Streamline Health Plan Sponsors' Disclosure Requirements

The ERISA Industry Committee urged the Labor Department's ERISA Advisory Council on Employee Welfare and Pension Benefit Plans to streamline and scrap unnecessary disclosure requirements facing health and retirement plan sponsors. James Gelfand, senior vice president of ERIC, asked the council on Wednesday (June 7) to scrap a proposal to expand Form 5500, particularly the Schedule J health plan reporting; terminate the Summary Annual Report requirement for health and wellness benefit plans; proceed with department's efforts to allow employers to...