Notice added to the employee retirement income security act (erisa) requiring the employer to disclose the following information concerning the pension plan to the employee:
A plan is subject to this notice requirement for a plan year if the plan paid to the PBGC is a variable premium during that plan year and the minimum funding requirement for the plan year is based on the DEFICIT REDUCTION CONTRIBUTION for the prior or the current plan year. Plans that are subject to this notice requirement for a plan year must notify all plan participants (current employees, VESTED employees who have terminated, retired employees, and beneficiaries of deceased employees).
Have a question or comment? We're here to help.