DOL Issues Temporary Enforcement Policy Regarding Pension Benefit Statements

The Department of Labor (DOL) has issued Field Assistance Bulletin 2026-02 (Bulletin), addressing inquiries regarding compliance with the paper statement requirements under Section 338 of SECURE 2.0. DOL recognizes that final regulations addressing the 2002 and 2020 electronic delivery safe harbors have not been issued (proposed regulations were released in February), and that defined contribution plans operating on a calendar-year basis must furnish a quarterly pension benefit for the calendar-year quarter that ended on March 31, 2026, no later than May 15, 2026.

In light of this, the Bulletin stipulates that until DOL issues additional guidance, enforcement actions will not be pursued against plan administrators that comply in good faith with either a reasonable interpretation of the proposed rule, or interpretation of section 105(a)(2)(E) of ERISA pending the adoption of a final rule. DOL further notes that for example, plan administrators may furnish the pension benefit statement described in section 105(a)(2)(E) of ERISA in accordance with the current regulation under 29 CFR § 2520.104b-1(c).