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Release Date:12/10/98
Release Number:USDL:
99-8
Contact Name: GLORIA DELLA
Phone Number:202.219.8921 |
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The U.S. Department of Labor has proposed amendments to its annual
reporting regulations under the Employee Retirement Income Security Act (ERISA)
to conform the regulations to the new streamlined Form 5500, schedules and
instructions. The new Form 5500 will be implemented for employee benefit plans
starting with 1999 plan year filings. |
“The department’s proposed
rule is the last step the department needs to take in achieving a streamlined
form and process for annual reporting by more than 800,000 plans” said
Meredith Miller, Deputy Assistant Secretary for Policy of the Pension and
Welfare Benefits Administration. “When the process is completed, plans and
their participants and beneficiaries will benefit from the improved Form 5500
and the new electronic EFAST system being developed for filing and processing
the forms.” |
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Besides making conforming revisions, the proposed regulation also
would make other technical changes that clarify the existing reporting
regulations. The proposed regulatory amendments, however, do not revise the new
streamlined Form 5500 itself. |
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Written comments on proposed amendments to the reporting
regulation should be submitted to: Office of Regulations and Interpretations,
Pension and Welfare Benefits Administration, U.S. Department of Labor, Rm.
N5669, 200 Constitution Ave., N.W., Washington, DC 20210; “Attention:
Proposed Amendments To Annual Reporting Regulations.” |
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Comments previously submitted to the department in connection with
the published forms revisions will be considered as part of the public record
for this regulatory proposal to eliminate the need to submit duplicate public
comments. Therefore, any comments relevant to the proposed regulatory
amendments will be treated as comments on the proposed rule. |
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The proposed regulation is scheduled to be published in the Dec.
10 Federal Register. This information and a hyperlink to the proposed
regulations will be available on PWBA’s internet site at www.dol.gov/dol/pwba. |
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U.S. Department of
Labor news releases are accessible on the Internet. The information in this
news release will be made available in alternate format upon request (large
print, Braille, audio tape or disc) from the Central Office for Assistive
Services and Technology. Please specify which news release when placing your
request. Call 202.693.7773 or TTY 202.693.7755. |
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