H.R. 2869 — EBSA Investigations Transparency Act

This section establishes an annual reporting requirement on investigations of employee benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). Not later than December 31 of each year following enactment, the Secretary of Labor must submit to Congress a report on active investigations and targeted compliance monitoring asserted under ERISA §504(a) during the preceding fiscal year, including for each such matter: (1) the Employee Benefits Security Administration office that opened it; (2) the date opened; (3) the date of the first document request from the target; and (4) whether concluded within 36 months of that request, and if not, the reasons for delay and estimated conclusion date. The report excludes information identifying private parties (e.g., plan sponsors, fiduciaries, service providers, employees, or participants) and deems an investigation concluded at the later of ceasing investigative authority or terminating compliance monitoring, as documented in a closing letter to the target; changes in issues or topics during an investigation are treated as a continuation rather than a new investigation.