Welfare And Pension Plans Disclosure Act
Definition of "Welfare and pension plans disclosure act"
Federal law that requires administrators of pension plans with more than 25 participants to file a plan description with the U.S. Department of Labor. A plan description includes schedules of benefits, type of administration, and copies of the plan. If the plan has more than 100 participants, the administrator must also file an annual financial report. This information must be made available to plan participants upon request, and the person responsible for handling the funds must be bonded.
Popular Insurance Terms
Circumstance that produces the loss. ...
All insured losses paid in full. ...
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Coverage that guarantees that the insurance company will pay the insured business or individual for money or other property lost because of dishonest acts of its bonded employees, either ...
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Option to an insurance company to replace, reconstruct (repair), or reproduce (rebuild) damaged or destroyed property covered by property insurance rather than indemnify an insured in cash. ...
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