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Content Last Revised: 01/11/2006
---DISCLAIMER---

CFR  

Code of Federal Regulations Pertaining to U.S. Department of Labor

Title 29  

Labor

 

Chapter XXV  

Pension and Welfare Benefits Administration, Department of Labor

 

 

Part 2520  

Rules and Regulations for Reporting and Disclosure

 

 

 

Subpart A  

General Reporting and Disclosure Requirements

29 CFR 2520.101-4 - Annual funding notice for multiemployer defined benefit pension plans.

  • Section Number: 2520.101-4
  • Section Name: Annual funding notice for multiemployer defined benefit pension plans.
        (a) In general. (1) Except as provided in paragraph (a)(2) of this 
section, pursuant to section 101(f) of the Act, the administrator of a 
defined benefit, multiemployer pension plan shall furnish annually to 
each person specified in paragraph (f) of this section a funding notice 
that conforms to the requirements of this section.
    (2) A plan administrator shall not be required to furnish a funding 
notice for any plan year for which the plan is receiving financial 
assistance from the Pension Benefit Guaranty Corporation pursuant to 
section 4261 of ERISA.
    (b) Content of notice. A funding notice shall, consistent with the 
information included in the plan's Annual Return/Report Form 5500 filed 
for the plan year to which the funding notice relates, include the 
following information:
    (1) The name of the plan;
    (2) The address and phone number of the plan administrator and the 
plan's principal administrative officer (if different from the plan 
administrator);
    (3) The plan sponsor's employer identification number;
    (4) The plan number;
    (5) A statement as to whether the plan's funded current liability 
percentage (as defined in section 302(d)(8)(B) of ERISA) for the plan 
year to which the notice relates is at least 100 percent (and, if not, 
the actual percentage);
    (6) A statement of the market value of the plan's assets (and 
valuation date), the amount of benefit payments, and the ratio of the 
assets to the payments for the plan year to which the notice relates;
    (7) A summary of the rules governing insolvent multiemployer plans, 
including the limitations on benefit payments and any potential benefit 
reductions and suspensions (and the potential effects of such 
limitations, reductions, and suspensions on the plan);
    (8) A general description of the benefits under the plan which are 
eligible to be guaranteed by the Pension Benefit Guaranty Corporation, 
along with an explanation of the limitations on the guarantee and the 
circumstances under which such limitations apply; and
    (9) Any additional information that the plan administrator elects 
to include, provided that such information:
    (i) Is necessary or helpful to understanding the mandatory 
information in the notice, and
    (ii) Is set forth following the information prescribed by 
paragraphs (b)(1) through (b)(8) of this section and shall be headed, 
``Additional Explanation.''
    (c) Style and format of notice. Funding notices shall be written in 
a manner that is consistent with the style and format requirements of 
29 CFR 2520.102-2.
    (d) When to furnish notice. A funding notice shall be furnished 
within 9 months after the close of the plan year, unless the Internal 
Revenue Service has granted an extension of time to file the annual 
report, in which case such furnishing shall take place within 2 months 
after the close of the extension period.
    (e) Manner of furnishing notice. (1) Except as provided in 
paragraph (e)(2) of this section, funding notices shall be furnished in 
any manner consistent with the requirements of Sec.  2520.104b-1 of 
this chapter, including paragraph (c) of that section relating to the 
use of electronic media.
    (2) Notice shall be furnished to the Pension Benefit Guaranty 
Corporation in a manner consistent with the requirements of part 4000 
of this title.
    (f) Persons entitled to notice. Persons entitled to notice under 
this section include:
    (1) Each participant covered under the plan on the last day of the 
plan year to which the notice relates;
    (2) Each beneficiary receiving benefits under the plan on the last 
day of the plan year to which the notice relates;
    (3) Each labor organization representing participants under the 
plan on the last day of the plan year to which the notice relates;
    (4) Each employer that, as of the last day of the plan year to 
which the notice relates, is a party to the collective bargaining 
agreement(s) pursuant to which the plan is maintained or who otherwise 
may be subject to withdrawal liability pursuant to section 4203 of the 
Act; and
    (5) The Pension Benefit Guaranty Corporation.
    (g) Model notice. The appendix to this section contains a model 
notice that is intended to assist plan administrators in discharging 
their notice obligations under this section. Use of the model notice is 
not mandatory. However, use of the model notice will be deemed to 
satisfy the requirements of paragraphs (b) and (c), except with respect 
to information referenced in paragraph (b)(9) of this section.
BILLING CODE 4150-29-P
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