I called Schwab and they just said, "401(k) accounts are not eligible for paperless confirmations and statements. It's the law. Sorry."
I can't find any reference to this law in the Google. The amount of snail mail generated by my 401(k) account is staggering, and it all goes straight into the paper shredder. I make one deposit a month plus two trades, and I get four envelopes in the mail a few days later. It's quite silly.
Is there a 401(k) out there that allows paperless statements? Is there any way to reduce the amount of paperwork? What's the actual law? Is there a congressional bill in the works to change the law?