119-HR2869

Bill is currently in: House
Path to Law
House Senate President

119th CONGRESS

1st Session

H. R. 2869

1. Short title
2. Annual report on investigations

1. Short title

This Act may be cited as the "Employee Benefit Security Administration Investigations Transparency Act" or the "EBSA Investigations Transparency Act".

2. Annual report on investigations

Section 504 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1134) is amended by adding at the end the following:

(f) Report on investigations

(1) In general - Not later than December 31 of each year following the date of enactment of this Act, the Secretary shall submit to Congress a report on the status of cases in enforcement status, including investigations that are active, or in relation to which the Secretary asserted investigative authority or engaged in targeted compliance monitoring, under section 504(a), during the preceding fiscal year.

(2) Contents

(A) In general - The report required under subsection (a) shall include the following information in relation to each investigation conducted under section 504(a):

(i) - The regional or district office, or any other office, of the Employee Benefit Security Administration that opened the investigation.

(ii) - The date the investigation was opened.

(iii) - The date on which the Secretary first requested documents from the target of the investigation.

(iv) - In relation to the date on which the Secretary first requested documents from the target of the investigation in relation to such investigation—

(I) - whether the investigation was concluded within the 36-month period beginning on the date of such request; and

(II) - if such investigation has not been concluded by the end of such 36-month period—

(aa) - information on why such investigation has not been concluded; and

(bb) - the estimated date of conclusion.

(B) Excluded information - The report shall not include information identifying any private party to the investigation, including any plan sponsor, fiduciary, service provider, employee, or participant.

(C) Conclusion of investigations - For the purposes of paragraph (A)(iv), an investigation shall not be considered concluded until the later of—

(i) - the date on which the Secretary ceases to assert investigative authority in relation to such investigation; or

(ii) - if applicable, terminates any targeted compliance monitoring,