PLANSPONSOR - November/December 2017 - 60

DB Q&A
Reporting Requirements
ERISA mandates
DB plans to make
certain disclosures
I
n recent years, the Department of
Labor (DOL) has been emphasizing
disclosures to participants in individual
account plans such as 401(k)s, but there
are also a number of sections under the
Employee Retirement Income Security Act
(ERISA) dealing with defined benefit (DB)
pension plan reporting requirements.
Q: What are the specific mandatory notice
requirements under ERISA applicable
to defined benefit and money purchase
pension plans?
A: ERISA Section 101(d) provides that, if
its single employer plan fails to make an
installment or other payment to satisfy
the minimum funding standard obligation,
the employer must-unless it has
filed a request for a funding waiver with
the Internal Revenue Service (IRS)-
notify each participant and beneficiary,
including any alternate payees, of the
failure.
Under ERISA Section 101(e), the
employer must notify all plan participants
and beneficiaries of any qualified transfer
of excess pension assets to a health benefit
account or applicable life insurance
account, no later than 60 days before the
date of the transfer.
Under ERISA Section 101(f), the
administrator of a defined benefit plan
subject to ERISA Title IV must provide a
detailed funding notice to each participant
and beneficiary, generally following the
form of the Department of Labor (DOL)'s
model statement. Here, the general rule
is that the notice is supplied no later than
120 days after the end of the notice year.
However, if it is a small plan-i.e., one
with 100 or fewer participants on each day
of the notice year-it may file up to the
5500 filing date for that year.
Under ERISA Section 101(j), if a plan's
funded status falls below 60%, the plan
administrator must provide written notice
within 30 days to any participants affected
that they may no longer accrue additional
benefits to the plan, also that they will no
longer receive benefits payable from it,
60 PLANSPONSOR.com November-December 2017
Art by Doris Liou
such as those based on a plant shutdown or
other unpredictable contingent event (basically,
one other than death, disability or
attainment of age) or lump-sum payments
besides mandatory small-sum cash-outs.
ERISA Section 204(h) requires
participants and alternate payees to be

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PLANSPONSOR - November/December 2017

Table of Contents for the Digital Edition of PLANSPONSOR - November/December 2017

Seeking Value
2017 DC Survey: Plan Benchmarking
2017 Research Year in Review
Owning a Piece of the Firm
Breaking Up With a Fund
Reporting Requirements
PLANSPONSOR - November/December 2017 - Cover1
PLANSPONSOR - November/December 2017 - Cover2
PLANSPONSOR - November/December 2017 - 1
PLANSPONSOR - November/December 2017 - 2
PLANSPONSOR - November/December 2017 - 3
PLANSPONSOR - November/December 2017 - 4
PLANSPONSOR - November/December 2017 - 5
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PLANSPONSOR - November/December 2017 - 13
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PLANSPONSOR - November/December 2017 - 17
PLANSPONSOR - November/December 2017 - 18
PLANSPONSOR - November/December 2017 - 19
PLANSPONSOR - November/December 2017 - 20
PLANSPONSOR - November/December 2017 - 21
PLANSPONSOR - November/December 2017 - Seeking Value
PLANSPONSOR - November/December 2017 - 23
PLANSPONSOR - November/December 2017 - 24
PLANSPONSOR - November/December 2017 - 25
PLANSPONSOR - November/December 2017 - 26
PLANSPONSOR - November/December 2017 - 27
PLANSPONSOR - November/December 2017 - 28
PLANSPONSOR - November/December 2017 - 29
PLANSPONSOR - November/December 2017 - 2017 DC Survey: Plan Benchmarking
PLANSPONSOR - November/December 2017 - 31
PLANSPONSOR - November/December 2017 - 32
PLANSPONSOR - November/December 2017 - 33
PLANSPONSOR - November/December 2017 - 34
PLANSPONSOR - November/December 2017 - 35
PLANSPONSOR - November/December 2017 - 36
PLANSPONSOR - November/December 2017 - 37
PLANSPONSOR - November/December 2017 - 38
PLANSPONSOR - November/December 2017 - 39
PLANSPONSOR - November/December 2017 - 40
PLANSPONSOR - November/December 2017 - 41
PLANSPONSOR - November/December 2017 - 42
PLANSPONSOR - November/December 2017 - 43
PLANSPONSOR - November/December 2017 - 44
PLANSPONSOR - November/December 2017 - 45
PLANSPONSOR - November/December 2017 - 2017 Research Year in Review
PLANSPONSOR - November/December 2017 - 47
PLANSPONSOR - November/December 2017 - 48
PLANSPONSOR - November/December 2017 - 49
PLANSPONSOR - November/December 2017 - 50
PLANSPONSOR - November/December 2017 - 51
PLANSPONSOR - November/December 2017 - 52
PLANSPONSOR - November/December 2017 - 53
PLANSPONSOR - November/December 2017 - Owning a Piece of the Firm
PLANSPONSOR - November/December 2017 - 55
PLANSPONSOR - November/December 2017 - 56
PLANSPONSOR - November/December 2017 - 57
PLANSPONSOR - November/December 2017 - Breaking Up With a Fund
PLANSPONSOR - November/December 2017 - 59
PLANSPONSOR - November/December 2017 - Reporting Requirements
PLANSPONSOR - November/December 2017 - 61
PLANSPONSOR - November/December 2017 - 62
PLANSPONSOR - November/December 2017 - 63
PLANSPONSOR - November/December 2017 - 64
PLANSPONSOR - November/December 2017 - Cover3
PLANSPONSOR - November/December 2017 - Cover4
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