The Department of Labor’s employee benefits regulator would be required under new legislation to provide an annual report to Congress detailing the state of its enforcement investigations.
Sens. Bill Cassidy (R-La.) and Jim Banks (R-Ind.) announced Thursday the Investigation Status and Governance for Honest Transparency Act, which targets the Employee Benefits Security Administration’s enforcement process.
The bill would require EBSA to report to Congress each year on the status of enforcement investigations, including estimated completion dates for probes that have gone on longer than 36 months. The reports wouldn’t include identifying information.
“This important bill makes the Department of Labor ...