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
Person who has been authorized by the insurance company to pay a loss (s) incurred by the insured. ...
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Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
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