Commenters to Plan Regulators: Electronic Disclosure Should Be the Default

The groups -- the ERISA Industry Committee (ERIC), Washington, and the American Society of Pension Professionals & Actuaries (ASPPA), Arlington, Va. -- were responding to a request for comments that the Employee Benefits Security Administration (EBSA), an arm of the Labor Department, posted in April.

EBSA asked for ideas from members of the public about how to improve the regulations governing electronic plan disclosures.The agency asked about ways it could expand the current electronic disclosure safe harbor to take new technology into account while still protecting the interests of plan participants and beneficiaries.

Some early commenters argued that increased use of electronic disclosures would be a good thing; others argued that many employees still lack the computer skills to make good use of electronic disclosures.

ERIC, an employer group that submitted its comment Monday, at the end of the comment period, has developed a detailed proposal for expanding the safe harbor. Electronic disclosure would be the default, but participants could choose to opt out.

The proposal would provide sufficient protection for individuals who do not wish, or are not able, to receive communications electronically, ERIC President Mark Ugoretz says in a letter describing the proposal.

ERIC wants to see the Labor Department, the U.S. Treasury Department and the U.S. Securities and Exchange Commission work together to develop a single disclosure, to reduce the risk of accidental noncompliance, Ugoretz says.

ERIC has asked the Labor Department to adopt the Treasury Department’s “effective ability to access” standard, which was published in 2006. A paper opt-out notice should not be required for anyone who has access to the applicable electronic medium, Ugoretz says.

The fact that some individuals still prefer paper does not justify defaulting everyone to paper, ERIC argues.  “Most employees today have access to electronic media through countless devices, and they use electronic media even if access to electronic media is not an integral part of their duties,” Ugoretz says.

When the Labor Department adopted electronic disclosure rules in 2002, under Section 404(c) of the Employee Retirement Income Security Act (ERISA), the department only allowed the use of electronic disclosure if the employer's electronic system was an integral part of the employee's duties or the participant had affirmatively consented to electronic delivery, Ugoretz says.

Electronic Cigarette Safety - Is E-Cigarette Safe ? Quit smoking ...

PRLog (Press Release) – Jun 14, 2011 – An electronic cigarette, also known as an e-cigarette, is being pitched as one of the most effective alternative for the conventional cigarettes. Those in favor of the same argue that the absence of smoke, which is the most harmful component of smoking, works in favor of electronic cigarette, and hence, it is an ideal replacement for its conventional counterparts.

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Critics, however, are not quite convinced, and counter argue that just because this cigarette doesn't emit smoke, it doesn't mean you are not subjected to the harmful chemicals in cigarette when you smoke it. Before we move on to electronic cigarette safety, let's see what an electronic cigarette is all about.

What is an Electronic Cigarette?
An electronic cigarette is an electronic device which facilitates nicotine intake through vaporized solution. It is basically an elongated tube, which quite often resembles cigarettes or cigars, with a mouth piece to hold the absorbent material, heating element to vaporize the liquid, and battery as the source of power. When you use this device to smoke, you get the physical sensation that is quite similar to the sensation you get when inhaling tobacco through conventional cigarettes. What sets them apart is the fact that they are smokeless cigarettes, owing to which the manufacturers claim that it is not injurious to health. There are two types of electronic cigarettes - the automated e-cigarettes and the manual e-cigarettes. While the automated cigarettes use a sensor as the trigger to activate the heating element, in manual cigarettes the activation is done by the press of a button. Similarly some electronic cigarettes are reusable, while others are disposable. As a part of the electronic cigarette security system, these cigarettes have a red indicator on them which is lit when the device is in use.

E Cigarette Regulation in the United States
In the United States, these electronic cigarettes are classified as drug delivery devices by the Food and Drug Administration (FDA), and hence, the sale of these devices requires market approval under the Food, Drug, and Cosmetic Act (FDCA).

Is Electronic Cigarette Safe?

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