Bill > HR2869

This bill, titled the Employee Benefit Security Administration Investigations Transparency Act, mandates that the Employee Benefit Security Administration (EBSA), an agency responsible for overseeing employee benefit plans, must provide Congress with an annual report detailing its investigations. Specifically, by December 31st of each year, the Secretary of Labor must submit a report to Congress outlining the status of all active investigations, cases where EBSA asserted its investigative authority, or instances of targeted compliance monitoring conducted during the preceding fiscal year. This report must include details such as the EBSA office that opened the investigation, the date it began, and the date EBSA first requested documents from the subject of the investigation. Crucially, the report must also indicate whether investigations were concluded within 36 months of the initial document request, and if not, provide reasons for the delay and an estimated conclusion date. However, the bill explicitly states that the report will exclude any information that could identify private parties involved in the investigations, such as plan sponsors, fiduciaries, service providers, employees, or participants. An investigation is considered concluded only when EBSA ceases to assert its investigative authority or terminates any compliance monitoring, as documented in a closing letter. If the scope of an investigation changes, it will be treated as a continuous investigation rather than a new one.

Education

https://www.congress.gov/bill/119th-congress/house-bill/2869/all-info