The bipartisan bill Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act aims to cut out an expensive paper trail around retirement plan notifications. (Photo: Shutterstock)

Bipartisan legislation was introduced Tuesday to allow 401(k) participant communications to be delivered electronically.

Rep. Jared Polis, D-Colo., and Rep. Phil Roe, R-Tenn., introduced the bipartisan Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act, which they said would “ensure employers make retirement information easily accessible online, while providing protections for employees who prefer to receive paper documents.”

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