INSIGHT Act

This bill changes federal retirement and employee benefit law (ERISA) to require new reports to Congress from the Department of Labor. Each year, the Labor Secretary would report on the status of benefit-plan investigations, including when each began, when documents were first requested, and whether it ended within 36 months, without naming private parties. Before the Secretary gives help or information to an attorney for use in a private lawsuit over a benefit plan, the Secretary would have to sign a written agreement describing that help and give a copy to employers or plan officials who could be affected. The Secretary would also report yearly to Congress on these agreements, including logs of communications and meetings. The bill adds a stated policy of promoting voluntary pension plans.

Full text and official record on Congress.gov

Sponsors

• Jim Banks Republican sponsor
• 3 cosponsors