119-hr2869

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2869 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 2869

To amend the Employee Retirement Income Security Act of 1974 to require 
that the Employee Benefit Security Administration make an annual report 
 to Congress on investigations.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 April 10, 2025

 Mrs. McClain (for herself, Mr. Walberg, and Mr. Owens) introduced the 
 following bill; which was referred to the Committee on Education and 
 Workforce

_______________________________________________________________________

 A BILL

To amend the Employee Retirement Income Security Act of 1974 to require 
that the Employee Benefit Security Administration make an annual report 
 to Congress on investigations.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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,
 in each case as memorialized in a closing letter 
 delivered to the target of the investigation or the 
 party subject to compliance monitoring. In the event 
 that the issues or topics under investigation change 
 during the course of an investigation, the Secretary's 
 continuing assertion of authority under 

section 504 
 shall be treated as a continuing investigation and not 
 as a separate investigation.''.
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