Two federal proposals are drawing renewed attention to how investors and retirement plan participants receive critical financial information. The U.S. Securities and Exchange Commission (SEC) is proposing to make electronic delivery the default for many investor communications, while the U.S. Department of Labor (DOL) is considering adding an electronic delivery option for group health plans.
PRINTING United Alliance opposes policies that automatically shift consumers from paper to electronic communications without their affirmative consent. As a member of the Coalition for Paper Options, the Alliance supports preserving access to printed financial information for Americans who prefer it or depend on it.
SEC Proposal Would Establish an Electronic Default
The SEC’s proposed Regulation E-Delivery rule, issued on July 16, 2026, would allow issuers, broker-dealers, investment advisers, and other covered entities to deliver required financial information electronically without first obtaining a recipient’s affirmative consent. Paper delivery is the default under the SEC’s current framework unless an investor elects to receive documents electronically.
The proposed rule would apply broadly to materials such as prospectuses, annual and semiannual shareholder reports, proxy statements, trade confirmations, and certain investment adviser disclosures. Investors currently receiving paper communications would receive two paper notices before being transitioned to electronic delivery and would have to opt out to continue receiving paper documents.
Although the SEC argues that the proposal would modernize investor communications and reduce paper, printing, and postage expenses, it could make important financial information less accessible. Electronic notices may be overlooked, filtered as spam, or difficult to review on a smartphone. Seniors, rural residents, lower-income households, and individuals without reliable internet or computer access could face challenges as they would be prevented from accessing the information.
Investors already have the option to select electronic delivery. Making electronic communications the default would instead place the burden on individuals to take action to retain paper documents.
The proposal raises serious concerns for the U.S. printing and writing paper sector, which supports U.S. manufacturing jobs and provides essential products for consumers, businesses and institutions across the country. Additionally, the proposal would impact upwards of 3.5 billion pieces of First-Class Mail and further reduce mail volume for the U.S. Postal Service, a key delivery channel for the printing industry.
PRINTING United Alliance is opposed to the SEC's Regulation E-Delivery proposal. In partnership with the Coalition for Paper Options, the Alliance will submit comments to the SEC advocating for the retention of paper delivery as the default. The public comment period will close on September 21, 2026.
Most importantly, your help is needed. Make your voices heard by responding to the Action Alert on the Alliance's Advocacy Center entitled, "Tell Washington to Protect Investor Choice and Paper Access." The pre-written letter is directed to the administration and Congress asking for their help in influencing the outcome of a final rule at the SEC.
DOL Proposal to Add E-Delivery Safe Harbor
On July 23, 2026, the DOL published a Federal Register proposed rule to create an electronic disclosure safe harbor for group health plans. If finalized, the proposal would give group health plan administrators an additional, optional pathway to deliver required Employee Retirement Income Security Act (ERISA) disclosures electronically, alongside the existing 2002 e-disclosure safe harbor and the 2020 e-disclosure safe harbor available to retirement plan administrators. It would allow roughly 2.8 million plans governed by ERISA to provide required notices electronically via email or web portals.
There is a provision in which individuals can completely opt-out of electronic delivery at any time and workers retain the right to request physical paper notices at no cost. The new proposal applies strictly to group health plans and does not extend to other welfare benefit plans, such as life or disability benefits. It was written to mirror the e-delivery defaults that retirement plans have already enjoyed for years.
The DOL estimates that group health plans currently print and mail up to 11 billion sheets of paper each year. Transitioning from paper to digital delivery will cut a major source of recurring, high-volume print runs impacting print service providers.
In response to the proposed rule, the Alliance, in partnership with the Coalition for Paper Options, will submit comments by the deadline of September 21, 2026.
Preserving Consumer Choice
The Alliance believes that modernization should not come at the expense of consumer choice. Paper remains a trusted, secure, and accessible communication method for millions of Americans. Printed health and retirement plan disclosures provide a tangible, accessible format, while electronic notices can be overlooked, filtered as spam, vulnerable to hacking, or inaccessible for individuals with limited internet access or digital proficiency. Participants should therefore retain the right to receive benefits information on paper, and electronic delivery should not become the default.
The Alliance will continue working with the Coalition for Paper Options to oppose electronic-delivery mandates, preserve paper as the default, and ensure consumers, not the government or financial institutions, decide how they receive critical documents.
In this article, Stephanie Buka, Government Affairs Manager, PRINTING United Alliance, reports on two federal e-delivery proposals. More information can be found at Business Excellence-Legislation or reach out to Steph should you have additional questions specific to how these issues may affect your business: sbuka@printing.org.
To become a member of the Alliance and learn more about how our subject matter experts can assist your company with services and resources such as those mentioned in this article, please contact the Alliance membership team: 888-385-3588 / membership@printing.org.