On May 12, 2026, the Department of Labor issued Field Assistance Bulletin 2026-02 (“FAB”), announcing a temporary “non”-enforcement policy for the new paper statement requirement under SECURE 2.0, and the Department's Notice of Proposed Rulemaking (“NPRM”) issued on February 25, 2026. Retirement plan sponsors and administrators should be pleased with this development, which will remain in place until after the Department issues a final regulation or other administrative guidance. 

Section 338(a) of SECURE 2.0 added new ERISA section 105(a)(2)(E) to require defined contribution plans to furnish at least one paper pension benefit statement per calendar year (every three years for defined benefit plans). Section 338 also instructed the Department to update its 2002 and 2020 electronic disclosure safe harbors to align with this new requirement. The NPRM proposes to amend both electronic disclosure safe harbors in response to this directive. For details on the NPRM, see our alert.

In response to inquiries regarding compliance with the new SECURE 2.0 rule and the NPRM, and in light of the fact that most defined contribution plans will need to issue pension benefit statements for the first quarter of 2026 by May 15, 2026, the FAB announces the following:

• The Department will not take enforcement action against plan administrators that comply in good faith with a reasonable interpretation of the NPRM.
• Similarly, the Department will not take enforcement action against plan administrators that comply in good faith with a reasonable interpretation of ERISA section 105(a)(2)(E). 

This FAB reinforces and expands a similar statement in the NPRM – that the Department will not take enforcement action if there is good faith compliance with the proposal. If you have any questions about the FAB or how to demonstrate good faith compliance, please reach out.