Updated Funding Notice Requirement

The DOL has issued Field Assistance Bulletin 2013-1 on the annual funding notice following MAP-21.

Document Excerpt

This memorandum provides guidance to the Employee Benefits Security Administration’s national and regional offices on compliance by plan administrators of single-employer defined benefit pension plans with section 40211(b)(2) of the Moving Ahead for Progress in the 21st Century Act (MAP-21), Pub. L. 112-141, 126 Stat. 405. This section of MAP-21 amended the annual funding notice requirements of section 101(f) of the Employee Retirement Income Security Act (ERISA) to require additional disclosure of the effect of segment rate stabilization on the funding of single-employer defined benefit plans. This memorandum also includes a supplement to the model annual funding notice that plan administrators of such plans may use to comply with these new requirements.

Link http://www.dol.gov/ebsa/regs/fab2013-1.html

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