INSIGHT Act

The INSIGHT Act requires the Department of Labor to submit annual reports to Congress detailing the status of active pension plan investigations, including timelines, reasons for delays, and estimated completion dates while protecting the privacy of private parties involved. It also mandates transparency regarding "adverse assistance" provided to attorneys by requiring written agreements that outline the scope of help and sharing copies of these agreements with potentially affected employers and plan sponsors. Additionally, the bill adds a formal statement to existing pension laws declaring that promoting voluntary pension plans is a key policy goal to ensure employee retirement security. These measures aim to increase accountability and public understanding of how the government oversees and supports employee benefit plans without revealing sensitive private information.