Annual Notice Requirements

Type of Information

Primary vehicle for informing participants and beneficiaries about their plan and how it operates. Must be written for average participant and be sufficiently comprehensive to apprise covered persons of their benefits, rights, and obligations under the plan. Must accurately reflect the plan’s contents as of the date not earlier than 120 days prior to the date the SPD is disclosed. See 29 CFR §§ 2520.102-2 and 2520.102-3 for style, format, and content requirements.

To Whom

Participants and those pension plan beneficiaries receiving benefits. (Also see “Plan Documents” below for persons with the right to obtain SPD upon request). See 29 CFR § 2520.102-2(c) for provisions on foreign language assistance when a certain portion of plan participants are literate only in the same non-English language.

When

Automatically to participants within 90 days of becoming covered by the plan and to pension plan beneficiaries within 90 days after first receiving benefits. However, a plan has 120 days after becoming subject to ERISA to distribute the SPD. Updated SPD must be furnished every 5 years if changes made to SPD information or plan is amended. Otherwise must be furnished every 10 years. See 29 CFR § 2520.104b-2.

Type of Information

Describes material modifications to a plan and changes in the information required to be in the SPD. Distribution of updated SPD satisfies this requirement. See 29 CFR § 2520.104b-3.

To Whom

Participants and those pension plan beneficiaries receiving benefits. (Also see “Plan Documents” below for persons with the right to obtain SMM upon request).

When

Automatically to participants and pension plan beneficiaries receiving benefits; not later than 210 days after the end of the plan year in which the change is adopted.

Type of Information

Narrative summary of the Form 5500. See 29 CFR § 2520.104b-10(d) for prescribed format.

To Whom

Participants and those pension plan beneficiaries receiving benefits. For plan years beginning after December 31, 2007, the SAR is no longer required for defined benefit pension plans to which Title IV applies, and which now instead provide the annual funding notice (see below).

When

Automatically to participants and pension plan beneficiaries receiving benefits within 9 months after end of plan year, or 2 months after due date for filing Form 5500 (with approved extension).

Type of Information

Information regarding benefit claim determinations. Adverse benefit determinations must include required disclosures (e.g., the specific reason(s) for the denial of a claim, reference to the specific plan provisions on which the benefit determination is based, and a description of the plan’s appeal procedures).

To Whom

Claimants (participants and beneficiaries or authorized claims representatives).

When

Requirements vary depending on type of plan and type of benefit claim involved. See 29 CFR § 2560.503-1 for prescribed claims procedures requirements.

Type of Information

The plan administrator must furnish copies of certain documents upon written request and must have copies available for examination. The documents include the latest updated SPD, latest Form 5500, trust agreement, and other instruments under which the plan is established or operated.

To Whom

Participants and beneficiaries. Also see 29 CFR § 2520.104a-8 regarding the Department’s authority to request documents.

When

Copies must be furnished no later than 30 days after a written request. Plan administrator must make copies available at its principal office and certain other locations as specified in 29 CFR § 2520.104b-1(b).

Type of Information

Summary of group health plan amendments and changes in information required to be in SPD that constitute a “material reduction in covered services or benefits.” See 29 CFR § 2520.104b-3(d)(3) for definitions.

To Whom

Participants.

When

Generally, within 60 days of adoption of material reduction in group health plan services or benefits. See 29 CFR § 2520.104b-3(d)(2) regarding 90-day alternative rule for furnishing the required information.

Type of Information

Notice of the right to purchase temporary extension of group health coverage when coverage is lost due to a qualifying event. See 29 CFR § 2590.606-1. For more information, visit A model notice is available at dol.gov/agencies/ ebsa/laws-and-regulations/laws/COBRA.

To Whom

Covered employees and covered spouses.

When

When group health plan coverage commences

Type of Information

Notice to “qualified beneficiaries” of their right to elect COBRA coverage upon occurrence of qualifying event as well as information about other coverage options available, such as through the Marketplace. See 29 CFR § 2590.606-4. For more information, visit dol.gov/agencies/ ebsa/laws-and-regulations/laws/COBRA. A model notice is available at dol.gov/ agencies/ebsa/laws-and-regulations/laws/ COBRA/model-election-notice.doc.

To Whom

Covered employees, covered spouses, and dependent children who are qualified beneficiaries.

When

The administrator must generally provide qualified beneficiaries with this notice, generally within 14 days after being notified by the employer or qualified beneficiary of the qualifying event. If the employer is also the plan administrator, the administrator must provide the notice not later than 44 days after: the date on which the qualifying event occurred; or if the plan provides that COBRA continuation coverage starts on the date of loss of coverage, the date of loss of coverage due to a qualifying event.

Type of Information

Notice that an individual is not entitled to COBRA coverage. See 29 CFR § 2590.606- 4(c).

To Whom

Individuals who provide notice to the administrator of a qualifying event whom the administrator determines are not eligible for COBRA coverage.

When

The administrator must provide this notice generally within 14 days after being notified by the individual of the qualifying event.

Type of Information

Notice that a qualified beneficiary’s COBRA coverage will terminate earlier than the maximum period of coverage. See 29 CFR § 2590.606-4(d).

To Whom

Qualified beneficiaries whose COBRA coverage will terminate earlier than the maximum period of coverage.

When

As soon as practicable following the administrator’s determination that coverage will terminate

Type of Information

Notification from plan administrator regarding receipt and qualification determination on a MCSO directing the plan to provide health coverage to a participant’s noncustodial children. See ERISA § 609(a)(5) (A) for prescribed requirements.

To Whom

Participants, any child named in a MCSO, and his or her representative.

When

Administrator, upon receipt of MCSO, must promptly issue notice (including plan’s procedures for determining its qualified status). Administrator must also issue separate notice as to whether the MCSO is qualified within a reasonable time after its receipt.

Type of Information

Notice used by state agency responsible for enforcing health care coverage provisions in a MCSO. See ERISA § 609(a) (5) and 29 CFR § 2590.609-2 for prescribed requirements. Depending upon certain conditions, employer must complete and return Part A of the NMS notice to the state agency or transfer Part B of the notice to the plan administrator for a determination on whether the notice is a qualified MCSO.

To Whom

State agencies, employers, plan administrators, participants, custodial parents, children, representatives.

When

Employer must either send Part A to the state agency, or Part B to plan administrator, within 20 days after the date of the notice or sooner, if reasonable. Administrator must promptly notify affected persons of receipt of the notice and the procedures for determining its qualified status. Administrator must within 40 business days after its date or sooner, if reasonable, complete and return Part B to the state agency and must also provide required information to affected persons. Under certain circumstances, the employer may be required to send Part A to the state agency after the plan administrator has processed Part B.

Type of Information

Notice describing the group health plan’s special enrollment rules including the right to special enroll within 30 days of the loss of other coverage or of marriage, birth of a child, adoption, or placement for adoption. See 29 CFR § 2590.701-6(c) for prescribed requirements as well as a model notice.

To Whom

Employees eligible to enroll in a group health plan.

When

At or before the time an employee is initially offered the opportunity to enroll in the group health plan.

Type of Information

Employer (rather than plan) must inform employees of possible premium assistance opportunities available in the state they reside. A model notice is available at dol. gov/agencies/ebsa/laws-and-regulations/ laws/chipra. See 75 FR 5808-11 for more prescribed requirements.

To Whom

All employees regardless of enrollment or eligibility status.

When

Notice must be furnished annually.

Type of Information

Notice given by any group health plan offering a health contingent wellness program in order to obtain a reward. The notice must disclose the availability of a reasonable alternative standard (or possibility of waiver of the otherwise applicable standard). Disclosure must include contact information for obtaining the alternative and a statement that recommendations of an individual’s personal physician will be accommodated. See 29 CFR § 2590.702(f)(2)(v) for prescribed requirements as well as model language.

To Whom

Participants and beneficiaries eligible to participate in a health contingent wellness program in order to obtain a reward.

When

In all plan materials that describe the terms of a health contingent wellness program (both activity-only and outcome-based wellness programs). For outcome-based wellness programs, this notice must also be included in any disclosure that an individual did not satisfy an initial outcome-based standard. If the plan materials merely mention that a program is available, without describing its terms, this disclosure is not required.

Type of Information

Notice must include a statement describing any requirements under federal or state law that relate to a hospital length of stay in connection with childbirth. If the federal law applies in some areas in which the plan operates, and state law applies in other areas, the SPD should describe the federal or state requirements applicable to each area. See 29 CFR § 2520.102-3(u) for prescribed requirements as well as model language.

To Whom

Participants.

When

Notice must be included in the Summary Plan Description.

Type of Information

Must include a description of the Michelle’s Law provision for continued coverage during medically necessary leaves of absence. See ERISA section 714(c).

To Whom

Participants and beneficiaries.

When

Notice must be included with any notice regarding a requirement for certification of student status for coverage under the plan. Note: Under the Affordable Care Act, plans cannot deny or restrict coverage for a child under the age of 26 based on student status.

Type of Information

Notice describing required benefits for mastectomy-related reconstructive surgery, prostheses, and treatment of physical complications of mastectomy.

To Whom

Participants.

When

Notice must be furnished upon enrollment and annually.

Type of Information

Notice must provide beneficiaries the criteria for medically necessary determinations with respect to mental health/substance use disorder benefits. See 29 CFR § 2590.712(d)(1).

To Whom

Any current or potential participant, beneficiary or contracting provider.

When

Notice must be provided upon request.

Type of Information

Notice must provide the reason for any denial of reimbursement or payment for services with respect to mental health/ substance use disorder benefits. See 29 CFR § 2590.712(d)(2).

To Whom

Participant or beneficiaries.

When

Notice must be provided upon request or as otherwise required by other laws.

Type of Information

A group health plan claiming MHPAEA’s increased cost exemption must furnish a notice of the plan’s exemption from the parity requirements. See 29 CFR § 2590.712(g)(6).

To Whom

Participants, beneficiaries, EBSA and state regulators.

When

Notice must be provided if using the cost exemption.

Type of Information

Notice must disclose that the plan is grandfathered and must include contact information. See 29 CFR § 2590.715-1251(a) (2).

To Whom

Participants and beneficiaries.

When

Notice must be included in any plan materials describing the benefits or health coverage.

Type of Information

A template that describes the benefits and coverage under the plan, and a uniform glossary defining statutorily and NAIC recommended terms. See 29 CFR § 2590.715-2715(a) and (c). The required SBC template is available at dol.gov/sites/ default/files/ebsa/laws-and-regulations/laws/affordable-care-act/for-employers-and-advisers/sbc-template.pdf and the Uniform

Glossary is available at dol.gov/sites/default/files/ebsa/laws-and-regulations/laws/affordable-care-act/for-employers-and-advisers/sbc-uniform-glossary-of-coverage-and-medical-terms.pdf. The SBC must include an Internet address where an individual can review the Uniform Glossary as well as contact information for obtaining a paper copy.

To Whom

Plans (provided by group health insurance issuers). Participants and beneficiaries.

When

SBC must be provided to participants and beneficiaries with enrollment materials and upon renewal or reissuance of coverage. SBC must also be provided to special enrollees no later than the date by which an SPD is required to be provided (90 days from enrollment).

The SBC and a copy of the Uniform Glossary must also be provided upon request within 7 days.

Type of Information

If a plan makes a material modification in any of the plan terms that would affect the content of the SBC that is not reflected in the most recently provided SBC, the plan must provide notice of such change. This does not apply to changes that occur in connection with a renewal or reissuance. See 29 CFR § 2590.715-2715(b).

To Whom

Participants and beneficiaries.

When

Notice must be provided no later than 60 days prior to the date on which the modification will become effective.

Type of Information

If a non-grandfathered plan requires a participant or beneficiary to designate a primary care provider, the plan must provide notice of the terms of the plan or coverage regarding designation of a primary care provider and participants’ rights to designate any participating primary care provider who is available to accept the participant; with respect to a child to designate any participating physician who specializes in pediatrics; and that the plan may not require authorization or referral for OB/GYN care by a participating OB/GYN professional. See 29 CFR § 2590.715-2719A(a)(4)

To Whom

Participants.

When

Notice must be provided with the Summary Plan Description or any other similar description of benefits

Type of Information

Internal Claims and Appeals: Non-grandfathered plans must provide notice of adverse benefit determination and notice of final internal adverse benefit determination. See 29 CFR § 2590.715-2719(b)(2)(ii)(E) for specific content requirements.

External Review: After an external review, the independent review organization (IRO) will issue a notice of final external review decision. See state law, Technical Release 2010-01 or 29 CFR § 2590.715-2719 (c) and (d) for prescribed requirements.

To Whom

For internal claims and appeals, the notices are provided to claimants. For Federal external review pursuant to the Technical Release, the notices are provided by the IRO to claimants and plan.

When

For internal claims and appeals, timing of the notices vary based on the type of claim. For external review the timing of the notice may vary based on the type of claims and whether the state or the federal process applies. See 29 CFR § 2590.715-2719 for more information.

Type of Information

Non-grandfathered plans must provide a description of the external review process in or attached to the summary plan description, policy, certificate, or other evidence of coverage provided to participants, beneficiaries, or enrollees. See Technical Release 2011-02 and 29 CFR § 2590.715-2719(c) for more information.

To Whom

Participants and beneficiaries.

When

The description of external review processes must be provided in the summary plan description or other evidence of coverage provided to enrollees.

Type of Information

EBSA Form 700 is a form used when an organization wishes to claim an accommodation with respect to the requirement to cover certain contraceptive services without cost sharing. Other methods to invoking an accommodation, such as providing a notice to the Secretary of HHS, are also available.

EBSA Form 700 is available online at: dol.gov/agencies/ebsa/laws-and-regulations/laws/affordable-care-act/ for-employers-and-advisers/coverage-of-preventive-services

Information about providing notice to HHS is available online at: dol.gov/sites/default/ files/ebsa/laws-and-regulations/laws/ affordable-care-act/for-employers-and-advisers/model-notice-to-secretary-of-hhs. pdf.

To Whom

EBSA Form 700 is provided by the organization or its plan to the plan’s health insurance issuer or third-party administrator.

Notice to the Secretary of HHS should be sent by email or U.S. mail to HHS.

Type of Information

Employers subject to the Fair Labor Standards Act must provide a written notice informing the employee of the existence of the Marketplace, the potential availability of a tax credit and that an employee may lose the employer contribution if the employee purchases a qualified health plan. See Technical Release 2013-02 and FLSA 18B for prescribed requirements.

A model notice is available at dol.gov/agencies/ebsa/laws-and-regulations/laws/affordable-care-act/ for-employers-and-advisers/coverage-options-notice.

To Whom

Must be provided by the employer to all employees regardless of plan eligibility or part-time or full-time status

When

Notice must be provided to all new employees.

Type of Information

Content of statements varies depending on the type of plan. In general, all statements must indicate total benefits and total nonforfeitable pension benefits, if any, which have accrued, or earliest date on which benefits become nonforfeitable. Benefit statements for an individual account plan must also provide the value of each investment to which assets in the individual account have been allocated. Benefit statements for individual account plans that permit participant investment direction must also include an explanation of any limitation or restriction on any right of the participant or beneficiary under the plan to direct an investment; an explanation of the importance of a well-balanced and diversified portfolio, including a statement of the risk that holding more than 20 percent of a portfolio in the security of an entity (such as employer securities) may not be adequately diversified; and a notice directing the participant or beneficiary to the Internet Website of the Department of Labor for sources of information on individual investing and diversification. See ERISA § 105.

To Whom

Participants and beneficiaries.

When

In general, at least once each quarter for individual account plans that permit participants to direct their investments; at least once each year, in the case of individual account plans that do not permit participants to direct their investments; and at least once every three years in case of defined benefit plans or, in the alternative, defined benefit plans can satisfy this requirement if at least once each year the administrator provides notice of the availability of the pension benefit statement and the ways to obtain such statement. In addition, the plan administrator of a defined benefit plan must furnish a benefit statement to a participant or beneficiary upon written request, limited to one request during any 12-month period. In addition, the plan administrator of an individual account plan must furnish a benefit statement upon request to a beneficiary that does not receive statements automatically, limited to one request during any 12-month period.

Type of Information

Statements of total accrued benefits and total nonforfeitable pension benefits, if any, which have accrued, or the earliest date on which benefits become nonforfeitable. See ERISA § 209.

To Whom

Participants.

When

The plan administrator shall provide a statement to participants upon request, upon termination of service with the employer, or after the participant has a 1-year break in service. Not more than one statement shall be required in any 12-month period for statements provided upon request. Not more than one statement shall be required with respect to consecutive 1-year breaks in service.

Type of Information

Notice that benefit payments are being suspended during certain periods of employment or reemployment. See 29 CFR § 2530.203-3 for prescribed requirements.

To Whom

Employer sponsoring pension plan from which transfer is made must give notice to the Secretaries of Labor and the Treasury, each employee organization representing plan participants, and the plan administrator.

Plan administrator must notify each participant and beneficiary under the plan.

When

Notices must be given not later than 60 days before the date of the transfer. The employer notice also must be available for inspection in the principal office of the administrator.

Type of Information

Notifications from plan administrator regarding its receipt of a DRO, and upon a determination as to whether the DRO is qualified. For more information see ERISA § 206(d)(3) and the EBSA booklet QDROs: The Division of Retirement Benefits Through Qualified Domestic Relations Orders

To Whom

Participants, and alternate payees (i.e., spouse, former spouse, child, or other dependent of a participant named in a DRO as having a right to receive all or a portion of the participant’s plan benefits).

When

Administrator, upon receipt of the DRO, must promptly issue the notice (including the plan’s procedures for determining its qualified status). The second notice, regarding whether the DRO is qualified, must be issued within a reasonable period of time after receipt of the DRO.

Type of Information

Notice of plan amendments to defined benefit plans and certain defined contribution plans that provide for a significant reduction in the rate of future benefit accruals or the elimination or significant reduction in an early retirement benefit or retirement-type subsidy. See 26 CFR § 54.4980F-1 for further information.

To Whom

Participants, alternate payees under a QDRO, contributing employers, and certain employee organizations.

When

Except as provided in regulations prescribed by the Secretary of the Treasury, notice must be provided within a reasonable time, generally 45 days, before the effective date of a plan amendment subject to ERISA. See § 204(h) of ERISA and IRC § 4980F.

Type of Information

Notification of failure to make a required installment or other plan contribution to satisfy minimum funding standard within 60 days of contribution due date. (Not applicable to multiemployer plans.) See ERISA § 101(d) for more information.

To Whom

Participants, beneficiaries, and alternative payees under QDROs.

When

Must be furnished within a “reasonable” period of time after the failure. Notice is not required if a funding waiver is requested in a timely manner; if waiver is denied, notice must be provided within 60 days after the denial.

Type of Information

Investment-related and certain other disclosures for participant-directed individual account plans described in 29 CFR § 2550.404c-1, including blackout notice for participant-directed individual account plans described in ERISA section 404(c)(1)(A)(ii), as described below. Special rules apply for qualified investment options under ERISA section 404(c)(4)(C).

To Whom

Participants and beneficiaries, as applicable.

When

Certain information should be furnished to participants or beneficiaries before the time when investment instructions are to be made; certain information must be furnished upon request.

Type of Information

Notification of any period of more than 3 consecutive business days when there is a temporary suspension, limitation or restriction under an individual account plan on directing or diversifying plan assets, obtaining loans, or obtaining distributions.

To Whom

Participants and beneficiaries of individual account plans affected by such blackout periods and issuers of affected employer securities held by the plan.

When

Generally at least 30 days but not more than 60 days advance notice. See ERISA § 101(i) and 29 CFR § 2520.101-3 for further information on the notice requirement.

Type of Information

Advance notice to participants and beneficiaries describing the circumstances under which contributions or other assets will be invested on their behalf in a qualified default investment alternative, the investment objectives of the qualified default investment alternative, and the right of participants and beneficiaries to direct investments out of the qualified default investment alternative. See 29 CFR § 2550.404c-5. See also ERISA § 514(e)(3).

To Whom

Participants and beneficiaries on whose behalf an investment in a QDIA may be made.

When

An initial notice must be furnished at least 30 days in advance of the date of plan eligibility, or at least 30 days in advance of the date of any first investment in a qualified default investment alternative on behalf of a participant or beneficiary; or on or before the date of plan eligibility if the participant has the opportunity to make a permissible withdrawal within the first 90 days. Further, there is an annual notice requirement within a reasonable period of time of at least 30 days in advance of each subsequent plan year. See 29 CFR § 2550.404c-5.

Type of Information

A plan administrator of an automatic contribution arrangement shall provide a notice under ERISA § 514(e)(3). Generally, this notice shall inform participants of their rights and obligations under the arrangement.

To Whom

Each participant to whom the arrangement applies. See ERISA § 514(e)(3).

When

The plan administrator of an automatic contribution arrangement shall, within a reasonable period before such plan year, provide the notice. See ERISA § 514(e)(3).

Type of Information

Basic information about the status and financial condition of the defined benefit pension plan, including the plan’s funding percentage; assets and liabilities; demographic information regarding active, retired and separated from service participants; the funding policy; endangered, critical or critical and declining status; explanation of events having a material effect on liabilities or assets; rules on termination or insolvency; a description of the benefits guaranteed by the PBGC; annual report information; information disclosed to the PBGC, if applicable; and any additional information the plan administrator elects to include. See ERISA § 101(f) and 29 CFR § 2520.101-5.

To Whom

Participants, beneficiaries receiving benefits, alternate payees receiving benefits, labor organizations representing participants under the plan, each employer of a multiemployer plan that is a party to a collective bargaining agreement pursuant to which a plan is maintained or who would be subject to withdrawal liability, and the PBGC.

When

Not later than 120 days after the plan year for large plans. Small plans (100 or fewer participants on each day during the plan year preceding the notice year) must furnish the notice no later than the earlier of the date on which the annual report is filed or the latest date the annual report must be filed (including extensions).

Type of Information

Certain financial information, such as contribution schedules, benefit formulas, number of employers obligated to contribute, number of participants on whose behalf no contributions were made for a specified period of time, number of withdrawing employers, and withdrawal liability. See ERISA § 104(d).

To Whom

Each employee organization and to each employer that has an obligation to contribute to the plan.

When

Within 30 days after the due date of the annual report.

Type of Information

Copies of periodic actuarial reports, quarterly, semi-annual, or annual financial reports, and amortization extension applications. See ERISA § 101(k), and 29 CFR § 2520.101-6.

To Whom

Participants, beneficiaries receiving benefits, each labor organization representing participants under the plan, and each employer that has an obligation to contribute to the plan.

When

Within 30 days of written request. Requester not entitled to receive more than one copy of any report or application during any 12-month period. See ERISA § 101(k).

Type of Information

Estimated amount of employer’s withdrawal liability and how such estimated liability was determined. See ERISA § 101(l).

To Whom

Any employer who has an obligation to contribute to the plan.

When

Generally, within 180 days of a written request.

Type of Information

The plan administrator of a single-employer or multiple employer defined benefit plan must provide a notice of specified funding-based limits on benefit accruals and benefit distributions. See ERISA § 101(j).

To Whom

Participants and beneficiaries.

When

Generally, within 30 days after a plan becomes subject to a specified funding-based limitation, as well as at any other time determined by the Secretary of the Treasury. See IRS Notice 2012-46.

Type of Information

Notice of right to sell company stock and reinvest proceeds into other investments available under the plan. Notice also must describe the importance of diversifying the investment of retirement account assets. See ERISA § 101(m). IRS Notice 2006-107 provides a model notice.

To Whom

Participants, alternate payees with accounts under the plan, and beneficiaries of deceased participants. See ERISA § 204(j).

When

Not later than 30 days before the first date on which the individuals are eligible to exercise their rights. See ERISA § 101(m).

Type of Information

In order to qualify for the safe harbor, a plan fiduciary must furnish to participants a summary plan description (SPD) or a summary of material modifications (SMM) that describes the plan’s automatic rollover provisions, including an explanation that if a participant is subject to mandatory distribution and fails to make an election regarding a form of benefit distribution, the participant’s account balance will be rolled over into an individual retirement plan. See 29 CFR § 2550.404a-2.

To Whom

Separating participants subject to mandatory distributions under the Internal Revenue Code.

When

The disclosure by SPD or SMM must be provided before mandatory distributions are made, and will be sufficient if provided in conjunction with the notice required under Code section 402(f) which must be provided to a plan participant no less than 30 days and no more than 180 days before the date of a distribution. See IRS Notice 2009-68.

Type of Information

A plan fiduciary (including a qualified termination administrator) must provide a notice to participants and beneficiaries of the plan’s termination and distribution options and procedures to make an election. In addition, the notice must provide information about the account balance; explain, if known, what fees, if any, will be paid from the participant or beneficiary’s retirement plan; and provide the name, address and telephone number of the individual retirement plan provider, if known, and of the plan administrator or other fiduciary from whom information about the termination may be obtained. See 29 CFR § 2550.404a-3.

To Whom

Participants or beneficiaries in terminated individual account plans.

When

The notice will be given during the winding up process of the plan termination. Participants and beneficiaries have 30 days from the receipt of the notice to elect a form of distribution

Type of Information

The sponsor of a multiemployer defined benefit pension plan must provide notice if the plan is in critical or endangered status (a plan in critical and declining status is a plan in critical status) because of funding or liquidity problems. The notice must include an explanation of the possibility that certain adjustable benefits may be reduced. See IRC § 432

To Whom

Participants, beneficiaries, the bargaining parties, PBGC, and the Department of Labor.

When

Not later than 30 days after the plan actuary’s annual certification, if the actuary certifies that the plan is in critical or endangered status.

For a model critical status notice, see dol.gov/ agencies/ebsa/about-ebsa/our-activities/ public disclosure/critical-status-notices.

Type of Information

The plan administrator must furnish information about the administrative and investment costs of participation in 401(k)-type plans. This includes general information about the mechanics and structure of the plan, such as how to give investment directions, and information about the plan’s administrative costs (e.g., recordkeeping, legal) and individual charges that may be assessed to participants (for loans, QDROs, etc.). This also includes a comparative chart with information about the plan’s investment options, including investment fees and expenses, performance and benchmark data, an active Website address with supplemental investment information, and a glossary of terms to assist participants in understanding the plan’s investment options. See 29 CFR § 2550.404a-5.

To Whom

Generally, participants and beneficiaries with the authority to direct their own investments in individual account plans.

When

General information about the plan and potential administrative and individual costs, as well as a “comparative chart” of key information about plan investment options, must be furnished annually (at least once in any 14-month period).

On at least a quarterly basis, participants must receive a statement of the dollar amount of administrative and individual fees that were charged to their accounts.

This information may, in certain circumstances, be included in the plan’s SPD and participants’ Periodic Pension Benefit Statements.

Type of Information

Certain plan service providers must provide detailed information about the compensation, both direct and indirect, that they will receive for providing services to pension plans. Service providers also may have to furnish information to assist plans in complying with other ERISA reporting and disclosure requirements (e.g., Form 5500 Annual Report, Participant Plan and Investment Fee Disclosures). See 29 CFR § 2550.408b-2(c) for definitions of which service providers must comply and the specific disclosures that must be furnished.

To Whom

Plan fiduciaries responsible for hiring pension plan service providers.

When

Generally, disclosure must be furnished to the plan fiduciary reasonably in advance of entering into a contract or arrangement with the service provider. See 29 CFR § 2550.408b-2(c) for provisions on when changes or updates to previously disclosed information must be furnished by the service provider.