April 15, 2011

Submitted electronically via regulations.gov

Legislative and Regulatory Department

Pension Benefit Guaranty Corporation

1200 K Street, NW

Washington, DC 20005-4026

Re: Reducing Regulatory Burdens: Review Under Executive Order 13563

Dear Sir or Madam:

I am writing on behalf of the American Benefits Council (the “Council”) in response to

the Pension Benefit Guaranty Corporation’s (the “PBGC”) recent request under 

Executive Order 13563 for suggestions on how it can streamline its guidance and 

eliminate unnecessary regulatory burdens. The Council is a public policy organization 

representing principally Fortune 500 companies and other organizations that assist 

employers of all sizes in providing benefits to employees. Collectively, the Council’s 

members either sponsor directly or provide services to retirement and health plans that 

cover more than 100 million Americans. 

The Council appreciates that the PBGC needs information about the financial strength 

of plan sponsors and their pension plans. We believe, however, that the PBGC can 

reduce the administrative burden on plan sponsors while still obtaining the information 

necessary for the PBGC to satisfy its mission. The right balance is important because 

the burdens associated with reporting make plans more costly and elevate plan 

sponsors’ frustration levels. The PBGC is charged with encouraging the continuation 

and maintainence of voluntary pension plans and excessive information reporting 

obligations are at odds with this charge. Thus, as an overarching comment, the Council 

urges the PBGC to carefully review its reporting and disclosure rules to ensure that they 

are appropriately tailored to the PBGC’s needs. Our specific suggestions are discussed 

below. 
2

REPORTABLE EVENTS

Section 4043 of the Employee Retirement Income Security Act of 1974 (“ERISA”)

provides that a plan sponsor must notify the PBGC of certain “reportable events.” 

Broadly speaking, the reportable events are intended to be events that signal that the 

plan or its sponsoring employer are in distress. The notice is meant to allow the PBGC 

to act appropriately before the situation deteriorates. 

The Council appreciates the PBGC’s desire to have advance notice of the potential need 

to terminate a plan. We are concerned, however, that the existing reportable event 

requirements are too expansive and we are troubled by the PBGC’s proposal to 

eliminate most of the automatic waivers and filing extensions under the current 

regulations and create two new reportable events.1 If finalized as proposed, these 

regulations would represent a massive expansion of the reportable event rules. We 

applaud the PBGC’s decision to repropose the regulation. We strongly recommend that 

the PBGC reverse direction and carefully review the existing web of reportable events, 

extensions and waivers with an eye to striking the right balance between the costs and 

benefits of an expansive reporting regime. 

There are any number of simplifications to the existing regulation that would be 

appropriate. Consider, for example, required reporting if an installment or payment 

under the required minimum funding rules is not made by the due date.2 Notice is 

waived if the required contribution is made by the 30th day after its due date but this 

time period is often too short to be of much utility.3 Thus, reporting is often necessary if

a required contribution is missed even if, for example, the missed contribution is very 

modest in size. The PBGC has substantial discretion to provide relief from the 

reportable event requirements and has provided relief from reporting for missed 

quarterly contributions for small plans.4 We believe that it would be appropriate to 

provide additional relief for missed contributions that are de minimis relative to the 

plan’s assets and/or liabilities. 

Another example involves reporting in connection with active participant reductions. 

The existing regulation treats a reduction in the number of active participants to less 

than 80 percent of the number at the beginning of the plan year, or to less than 75 

percent of the number at the beginning of the previous plan year as a reportable event.

5

 

It is not uncommon for a plan that has a reportable active participant reduction to have 

another reportable active participant reduction shortly thereafter, for example, at the 

beginning of the next plan year. This reporting is almost invariably duplicative since 

the PBGC will be aware of the situation as a result of the first reportable event. Relief 

 

1

74 Fed. Reg. 61,248 (Nov. 24, 2009).

2

Reg. § 4043.25(a).

3

Id.

4

See, e.g., Technical Update 10-4 (Dec. 3, 2010).

5

Reg. § 4043.23.
3

should be provided in circumstances where an active participant reduction notice was 

filed in the preceding 12 month period.6 

By way of another example, the current regulations appropriately provide an exception 

from reporting for active participant reductions by plans with fewer than 100 total 

participants.7 The notion in the regulations is that a modest reduction in active 

participants in a small plan may be a large percentage reduction triggering the 

generally applicable thresholds but nonetheless is an event that does not suggest the 

plan sponsor is in financial distress. We believe that the PBGC should consider 

applying this exception more broadly. The mere fact that a plan has a substantial 

number of participants who are inactive does not make a modest reduction in active 

participants probative of financial distress. Under current rules, a plan that has 100 or 

more total participants but, for example, only 10 active participants would have to 

report if it lost 3 active participants. There should be an appropriate de minimis 

threshold that is based on the number of individuals who depart from active 

participation. We also note that such a modest reduction should not be considered an 

event triggering section 4062(e). Such a reduction is not within the Congressional intent 

underlying section 4062(e). 

SECTION 4010 REPORTING

Another example of potentially overly expansive reporting involves section 4010 

reporting. Section 4010 imposes costly reporting requirements on certain sponsoring 

employers, most notably those with plans that have a funding target attainment 

percentage for the preceding year of less than 80 percent. Reporting is waived for an 

information year if, for the plan year ending within the information year, the aggregate 

funding shortfall for all plans of the controlled group does not exceed $15 million.8 The 

Council greatly appreciates the $15 million waiver but believes it would be appropriate 

to consider less expansive reporting for employers with plans whose aggregate funding 

shortfall is relatively modest albeit in excess of $15 million. It would, for example, be 

very helpful if employers with plans with aggregate funding shortfalls in excess of $15 

million but less than some threshold, for example, $50 million, could provide simplified

funding data, rather than the precise data required under the existing regulations. This 

would greatly mitigate the cost associated with section 4010 but would not deprive the 

PBGC of important information. Under this approach, the initial filing could provide 

simplified funding data but the PBGC could retain the power to affirmatively request 

more detailed information.

By way of another example, we believe that simplified reporting would be appropriate 

if a sponsoring employer knows it will not be subject to section 4010 filing for the 

 

6

The proposed reportable event regulations, discussed below, would make a similar change. 

7

Reg. § 4043.23(c).

8

Reg. § 4010.11.
4

subsequent year at the time it would otherwise have to provide the section 4010 

information for the current year. This may arise, for example, if the employer has made 

(or is scheduled to make) contributions that will bring all of its plans’ funding target 

attainment percentages for the current year above the 80 percent threshold. This 

approach would also accommodate circumstances, for example, in which a controlled 

group acquires an employer with a small plan that is below the 80 percent threshold 

after the contribution due date and therefore has not had an opportunity to bring the 

plan above the threshold. 

More generally, we recognize the PBGC’s interest in the section 4010 information, but 

believe that the PBGC should explore whether there are ways to reduce the 

administrative burden associated with section 4010 reporting. Section 4010 was added 

to ERISA pursuant to GATT 1994.9 The PBGC’s monitoring efforts, the timing of the 

availability of the Form 5500 Schedule B (now Schedule SB), and internet information 

has greatly changed since then. While section 4010 may simplify data collection for the 

PBGC, there are other readily available avenues for the PBGC to gather much of the 

applicable information and we urge the PBGC to explore these possibilities. 

PREMIUM FILING

The PBGC has made many changes in the premium process over time to improve the 

system with an emphasis on electronic filing. We commend the PBGC for these efforts. 

Unfortunately, the one thing that is difficult to remove is human error. Human error 

should not be ignored, but it should not be overly penalized. Most plan sponsors are 

trying their best to comply. Even so, errors occur. We appreciate that the PBGC allows 

for good cause exceptions. However, even in circumstances where a good cause 

exception is unavailable, the penalty should not be a huge increase in the premium. 

The box 5 situation of the last few years is a perfect example of how the PBGC is overpenalizing errors.

Premium information must be submitted electronically in accordance with the 

electronic forms available on the PBGC’s web site.10 The Council is aware, however, of 

plans that have struggled with the process. Most notably, for 2009, many plans that 

intended to elect to use the alternative premium funding target (the “alternative 

method”) to calculate variable rate premiums did not check the required box 5 because 

of confusion over the website instructions. The PBGC issued relief for many of the 

plans that failed to check box 5, which we greatly appreciate.11 However, we believe 

that there is a more fundamental point, namely that the consequences associated with 

an error or delay in completing the premium filing are disproportionate to the error. 

 

9 Uruguay Round Agreements Act (“GATT”), P.L. 103-465, § 772(a).

10 Reg. § 4007.3.

11 Technical Update 10-2: Variable Rate Premiums; Alternative Premium Funding Target Elections; Box 5 

Relief.
5

If a plan fails to complete the website instructions in the precise manner necessary to 

elect the alternative method, then the plan is required to use the standard premium 

funding target (the “standard method”).

12

 Similarly, a plan that files late is foreclosed 

from the alternative method.13 The election requirements for the alternative premium 

funding target are designed to prevent plans from switching between smoothed and 

spot interest rates in computing liabilities based on hindsight.

14

 The rules are not meant 

to create a trap for the unwary and severely punish clerical or administrative errors. 

The Council believes that there are more reasonable and appropriate ways to prevent 

plans from inappropriately switching between liability measurement methodologies. 

The PBGC could, for example, allow plans to use the alternative method but reserve 

authority to reject such use if it determines that the plan did not intend at the applicable 

deadline to use such method. Alternatively, the PBGC could permit plans to utilize the 

alternative method if they can show that the plan intended as of the filing due date to 

use the alternative method. A plan could establish that it intended at the applicable 

deadline to use the alternative method, for example, through communications between 

the plan and its actuary showing that a decision had been made on or before the 

premium due date to use the alternative method. Either approach would provide the 

PBGC with greater flexibility to ensure that plans are not disproportionately penalized 

for clerical or administrative mistakes.

It is important that the PBGC adopt changes to allow plans to cure defective elections 

that occurred prior the effective date of the new rules, including elections for 2009. 

There are more than a few plans that previously did not make an effective alternative 

method election notwithstanding an intent to do so. It is inappropriate to force a plan 

into the standard method simply because a plan administrator filed late, for example, 

because the plan administrator had a computer problem. Similarly, it is inappropriate 

to require a plan to use the standard method where it failed to appropriately fill out the 

website instructions. The rules should be fixed in a manner that allows plans that 

previously had a misstep in the filing process to cure that defect easily. The 

controversy over box 5 aptly illustrates the need for a more flexible and fair approach. 

While the box 5 relief provided by the PBGC was welcome, it was incomplete relief and 

there are plans that are being treated unfairly. Thus, we urge the PBGC to adopt rules 

that allow plans to elect the alternative method retroactively if the plan can establish by 

clear evidence that it intended as of the relevant filing due date to use the alternative 

method. 

We note that our concern is not limited to the alternative premium funding target. The 

PBGC should, for example, provide relief where differences between the correct asset 

values and the asset values used to determine variable rate premiums are de minimis. 

 

12 Reg. § 4006.5(g).

13 Id.

14 73 Fed. Reg. 15,068 (March 21, 2008) (preamble to final regulations on variable rate premiums).
6

Current regulations provide that large and mid-size plans, which are subject to an 

earlier premium due date than small plans, may file based on an estimate of the 

premium funding target if the target is not known as of the filing due date.15 The plan 

then makes a reconciliation filing later in the year. This rule is very helpful but it is too 

narrow because it requires a precise asset value. It is not uncommon for a plan to have 

subsequent changes in the asset values used to determine the variable rate premium, for 

example, if the plan is invested in hard-to-value assets. The current rules, however, 

impose potential penalties if the asset valuation as of the filing due date is not precisely 

correct. We believe that a reconciliation filing should also be permitted for asset 

valuations. There is no reason to impose such a high threshold for accuracy. 

PROPOSED SECTION 4062(E) REGULATIONS

The Council previously filed a comment letter on the PBGC’s proposed regulations 

under section 4062(e).16 We continue to strongly believe that the proposed regulations 

are overly broad and should be withdrawn. Risk-averse sponsors may well choose to 

report even if there is little likelihood that a section 4062(e) event has occurred. Further, 

the proposed regulations do not provide safe harbors from reporting and liability. We 

urge the PBGC to consider identifying situations in advance where reporting would not 

be necessary. The proposed regulations now inappropriately apply severe sanctions to 

plan sponsors maintaining well-funded plans that pose no threat to the PBGC and 

materially interfere with normal business operations. These regulations are a prime 

example of the sort of rules that fail to strike the appropriate balance between costs and 

benefits. Thus, we continue to urge the PBGC to withdraw the proposed regulations.

FAILURE TO PROPOSE PPA REGULATIONS

The Pension Protection Act of 2006 (the “PPA”) includes two important statutory 

changes that we understand were included at the PBGC’s request. One allows the 

PBGC to pay interest on premium overpayments.17 The other would establish a missing 

participant program for terminating defined contribution plans.18 Five years after the 

PPA was passed implementing regulations have yet to be proposed. We urge the PBGC 

to prioritize these regulations which benefit plan sponsors and plans, for example, by 

creating parity between premium underpayments (which are subject to interest) and 

overpayments (which should also be subject to interest adjustments).

* * *

 

15 Reg. § 4007.11.

16 75 Fed. Reg. 48,283 (Aug. 10, 2010).

17 ERISA § 4007(b), added by P.L. 109-280, § 406(a). 

18 ERISA § 4050, added by P.L. 109-280, § 410(a).
7

We appreciate the opportunity to comment on the need for regulatory simplification, 

and we look forward to working with you on these important changes.

Sincerely,

Jan Jacobson

 Senior Counsel, Retirement Policy
April 19, 2011 

Submitted through the Federal eRulemaking Portal: 

http://www. regulations.gov

Legislative and Regulatory Department 

Pension Benefit Guaranty Corporation 

1200 K Street, NW 

Washington, DC 20005-4026 

Re: Regulatory Review

Ladies and Gentlemen: 

 The ERISA Industry Committee (“ERIC”) is pleased to respond to the 

PBGC’s request for comments on making regulations more effective and 

less burdensome. The PBGC’s request relates to the President’s Executive 

Order 13536, “Improving Regulation and Regulatory Review.” The request 

focuses on ways to ensure that regulations, and the process by which those 

regulations are promulgated, responds to the needs of all stakeholders. 

Our comments, therefore, do not directly address regulatory or legislative 

proposals that are currently under consideration. 

 ERIC is a nonprofit association committed to the advancement of the 

employee retirement, health, incentive, and welfare benefit plans of 

America’s largest employers. ERIC’s members provide comprehensive 

retirement, health, and other benefits directly to tens of millions of active 

and retired workers and their families. ERIC’s members have historically 

provided defined benefit pension plans to their members; PBGC 

regulations have a significant effect on these plans and the employers that 

sponsor them. 

ERIC’s members strongly support policies that promote sponsorship of 

retirement plans that provide meaningful and secure benefits. 

 At the same time, however, ERIC’s members do business in an 

increasingly competitive global and domestic economy. ERIC’s members 

must compete with companies whose benefit programs are not as costly as 

ERIC’s members’ plans. As federal regulations become more complex and 

pervasive, ERIC’s members are forced to spend a larger and larger portion 

of their available time, effort, and financial resources complying with 

regulatory requirements. (The attached Reporting and Disclosure 

Requirements Calendar prepared by Towers Watson exemplifies the 

growing burdens.) 1400 L Street, N.W. 

Suite 350 

Washington, DC 

20005 

T (202) 789-1400 

F (202) 789-1120 

www.eric.org

The 

ERISA 

Industry 

Committee 
The ERISA Industry Committee Page 2 of 6 

April 19, 2011 

This problem is particularly significant with respect to defined benefit pension 

plans. Recognizing the burdens of complying with myriad complex rules, newer 

startup companies that have been successful in the last 20 plus years have almost 

universally decided not to provide defined benefit pensions. In order to compete with 

those companies, many employers that still sponsor defined benefit plans feel 

enormous pressure to terminate them. 

Over the last 30 years, numerous major legislative and regulatory reforms 

were designed to increase retirement security. But regulatory compliance burdens 

have continued to increase, resulting in further reductions to the number of defined 

benefit plans and the number of participants enrolled in them. In recent years, the 

trend has even affected companies that historically were wedded to offering defined 

benefit arrangements. 

This phenomenon is well-documented and has led to countless hearings and 

initiatives to find new ways to provide more meaningful and secure retirement 

benefits. ERIC believes that a less burdensome regulatory system would encourage 

more employers to sponsor defined benefit plans—providing more meaningful and 

secure retirement benefits, and strengthening the PBGC by increasing its premium 

base. Accordingly, ERIC welcomes the PBGC’s regulatory review. 

In light of the far-reaching effect that PBGC regulations can have on 

employers and other interested parties, ERIC recommends ongoing initiatives to 

keep the regulated community actively engaged in the review of existing regulations 

and the development of new regulations. In particular, ERIC recommends: 

1. Creating a stakeholder advisory group, consisting of representatives from 

large employers, practitioners, and other interested parties, that would 

meet periodically to review regulations and discuss other issues of 

importance; 

2. Using a more collaborative rulemaking process to ensure that the PBGC 

and other agencies adequately address the impact of major regulations; 

and 

3. Expanding the PBGC’s Board of Directors to include outside directors who 

can represent stakeholder interests. 

Each proposal is discussed below. 

1. The PBGC should create a stakeholder advisory group that would meet 

regularly to review regulations and the impact of the PBGC’s activities 

on the pension system, and to discuss other issues related to the PBGC’s 

impact on plan sponsors. 
The ERISA Industry Committee Page 3 of 6 

April 19, 2011 

In order to achieve the objectives of Executive Order 13563 in a sustainable 

way, it is important to have ongoing input from employers and other parties who are 

affected by the PBGC’s regulations. In the same way as the Information Reporting 

Program Advisory Committee (“IRPAC”) provides a public forum for discussing 

important issues with IRS officials, a stakeholder advisory group could provide 

valuable input to the PBGC on an ongoing basis. 

The advisory group should consist of representatives from large employers, 

practitioners, and other interested parties. Unlike the PBGC’s existing Advisory 

Committee, the new advisory group should not comprise members who are 

nominated by the President. In addition to eliminating any specter of political 

influence, this advisory group can provide stability as administrations change. 

The following are examples of ways that an advisory group could help to 

improve the regulatory process and strengthen the PBGC: 

 The advisory group could review existing regulations and other guidance, 

and report to the PBGC inefficiencies and other concerns, including areas 

where guidance is needed. 

 The advisory group could review the PBGC’s voluntary correction program 

and recommend improvements and expansion to address the needs of the 

regulated community. Concerns raised in connection with comprehensive 

premium filings for 2009 illustrate the value that the advisory group could 

provide. 

Many employers that intended to elect the alternative premium funding 

target (APFT) for 2009 were initially told that they could not use the APFT 

because they had inadvertently failed to check a box on the filing. 

Although the PBGC addressed this problem in Technical Update 10-2, 

some filers have reportedly been advised that they are not eligible correct 

erroneous or late filings—even if they provided evidence of their intentions, 

and without regard to exigent circumstances. An advisory group would be 

able to provide valuable real-time information about the problems that 

employers are having and offer suggestions for addressing the issue. Going 

forward, the advisory group could review Technical Update 10-2 and offer 

suggestions for addressing lingering issues. 

In addition, the PBGC’s voluntary correction program should be expanded 

to cover errors and exigent circumstances related to filings and other 

requirements. 

 When new regulations are on the drawing board, advance input from the 

advisory group can help to identify and resolve major issues before the 

regulations are proposed. A greater understanding of how a proposal 

would affect stakeholders (including employers, participants, and 

practitioners) will result in a better initial product. It would also result in 
The ERISA Industry Committee Page 4 of 6 

April 19, 2011 

stakeholders better understanding the needs of the PBGC and the pension 

system—which would make their comments more useful. In short, a better 

mutual understanding would make the rulemaking process more efficient 

and effective. 

For example, after the PBGC proposed eliminating waivers for many 

reportable events, employers raised concerns that eliminating the waivers 

would cause them to breach loan covenants. Advance input from an 

advisory group would have helped the PBGC to craft a more workable 

proposal. 

 The advisory group and the PBGC could work together to make sure that 

other regulators and legislators appropriately take into account the effect 

that regulations and legislation might have on the health of the pension 

system and the PBGC. It is critical that all of the rules affecting pension 

plans work together to encourage more employers to sponsor defined 

benefit plans. Adding plan sponsors, particularly major employers, to the 

system is the most effective, and least controversial, way to provide 

meaningful benefits to employees and ensure that the PBGC maintains a 

large and sustainable premium base. 

 Investment professionals who are responsible for plans regulated by the 

PBGC could share ideas and experience on investment strategies. 

2. The PBGC should use a more collaborative process for promulgating 

major regulations. 

ERIC members believe that the existing reportable event regulations under 29 

C.F.R. Part 4043 have been successful in large part because they reflect the 

consensus of a negotiated rulemaking committee that consisted of representatives of 

employers, participants, practitioners, and the PBGC. See 61 Fed. Reg. 63988 (Dec. 

2, 1996). A similar process (even if not formal negotiated rulemaking) for ongoing 

and future regulation projects would help to ensure that regulations are workable 

and appropriately balance the needs of all stakeholders. 

The regulated community’s comments on recent proposals to eliminate 

waivers for many reportable events and to expand the application of ERISA § 4062(e) 

illustrate the advantage of collaborative rulemaking. Under the standard process of 

issuing proposed regulations and then finalizing them, the PBGC is forced to 

consider comments and resolve complicated issues largely on its own. The process 

takes a long time and there is a significant risk of not getting everything “right.” By 

contrast, back-and-forth sharing of ideas and concerns is an efficient way to develop 

final rules that everyone can live with. 
The ERISA Industry Committee Page 5 of 6 

April 19, 2011 

3. The Board of Directors of the PBGC should be expanded to include 

outside directors who can represent stakeholder interests. 

A December 1, 2010 study by the Government Accountability Office entitled 

“Improvements Needed to Strengthen Governance Structure and Strategic 

Management” recommended that Congress consider expanding the PBGC’s Board of 

Directors “to include additional members with diverse backgrounds who possess 

knowledge and expertise useful to PBCG’s mission.” As outlined in the GAO study, 

outside directors can offer a skill set that is more closely linked to the PBGC’s 

particular challenges and strategic visions. Increased size would enable the Board to 

provide more effective oversight by establishing committees for specific functions 

(such as investments and audits); and outside directors would provide continuity 

when administrations change. 

ERIC appreciates that discussions are underway to improve the PBGC’s 

governance structure. Serious consideration should be given to expanding the Board 

to include outside directors that reflect stakeholder interests. Although governance 

of the PBGC is ultimately in the hands of Congress, the PBGC should support 

initiatives to expand the Board of Directors to include stakeholders. 

The importance of including stakeholders on the Board of Directors is 

exemplified by the PBGC’s support of efforts to transfer from Congress to the PBGC 

sole authority to assess individualized premium rates based on employer/plan 

sponsor credit-worthiness. Putting the PBGC in charge of determining not only the 

amount of the premium that individual employers pay, but also the means by which 

they are set—with no effective oversight from Congress or another neutral party—

would create a direct conflict of interest. The risk of being assessed unpredictable 

premiums based on a conflicted governmental agency’s assessment of the 

employer/plan sponsor’s credit worthiness would accelerate the flight from the 

defined benefit system; and it would all but ensure that employers who do not have 

defined benefit pension plans never create them. 

Ultimately, this flight would leave the PBGC in an even more precarious 

position than it is in today. As companies freeze and terminate their plans, the only 

companies left to pay premiums will be the ones least able to do so—and most in 

need of a PBGC takeover. 

Including stakeholders on the Board of Directors would help to ensure that 

the PBGC appropriately takes into account the negative consequences that can flow 

from proposals like the fee proposal. Rather than threaten existing plan sponsors 

with unpredictable premiums that are likely to interfere with a company’s ability to 

compete, the PBGC should work with stakeholders to encourage more employers to 

sponsor meaningful defined benefit plans. As noted above, growing the PBGC’s 

premium base is the only way to ensure long-term fiscal success. Easing 

administrative burdens and increasing efficiency and balance in the regulatory 

process are steps in the right direction. 
The ERISA Industry Committee Page 6 of 6 

April 19, 2011 

_____________________________________ 

Our members have a significant stake in the pension system and ERIC 

appreciates the opportunity to provide comments on the PBGC’s regulatory review. 

With that in mind, we reserve the right to submit additional comments in the future. 

If you have any questions concerning our comments, or if we can be of further 

assistance, please let us know. 

Sincerely, 

Mark J. Ugoretz 

President & CEO 
1 2011 Expanded Reporting and Disclosure Requirements Calendar

Reporting Requirements 2

IRS Form 1099-R (DB/DC) 2

Estimated Flat-Rate Premium Filing (DB) 2

PBGC Reporting for Underfunded Plans (DB) 2

IRS Form 5558 (DB/DC/HW) 2

Form 5500 (including applicable schedules and attachments) 

(DB/DC/HW) 3

IRS Form 8955-SSA (Replaces Schedule SSA (Form 5500)) 

(DB/DC) 3

Comprehensive PBGC Premium Filing (DB) 4

Reportable Events (DB) 4

Notice of Failure to Make Required Contributions of More Than 

$1 Million (DB) 5

Plan Merger, Consolidation, or Transfer of Assets or Liabilities (DB) 5

Notice of Qualified Separate Line of Business (QSLOB) (DB/DC) 5

Change in Plan/Trust Year (DB/DC) 6

Change in Funding Method (DB) 6

Notice of Withdrawal of a Substantial Employer 

(Multiple Employer Plans) (DB) 6

Notification of Application for Recognition of Exempt Status (DB) 6

Annual Report for MEWAs and Certain Entities Claiming Exception 

(ECEs) (HW) 7

Disclosure Requirements 7

DB Plan Annual Funding Notice 7

Summary Annual Report (SAR) (DC/HW) 7

Summary Description of Material Modification of Plan (SMM) 

(DB/DC/HW) 8

Summary Plan Description (SPD) (DB/DC/HW) 8

Periodic Benefit Statements (DC) 9

Periodic Benefit Statements (DB) 9

401(k)/(m) Safe Harbor Notice (DC) 10

Notice of Automatic Contribution Arrangement (DC) 10

Notice of Qualified Default Investment Alternative (QDIA) (DC) 11

Notice of Rights Concerning Employer Securities (DC) 12

Rollover Notice (DB/DC) 12

Explanation of Qualified Preretirement Survivor Benefit 

(DB/Certain DC) 13

Explanation of Qualified Joint and Survivor Annuity (QJSA), 

Financial Effect and Relative Values of Optional Forms 

of Payment (DB/Certain DC) 13

Individual Deferred Vested Pension Statement (DB/DC) 13

Notice of Receipt of Domestic Relations Order (DB/DC) 14

Notice of Suspension of Benefits (DC) 14

Notice of Significant Reduction in Rate of Future Benefit 

Accrual (DB) 15

Notice of Right to Defer a Distribution and Notice of Consequences 

of Failing to Defer (DB/DC) 15

Notice of Substantial Cessation of Operations at a Facility (DB) 16

Notice of Failure to Meet Minimum Funding Standards (DB/DC) 16

Notice of Funding-Based Limitation on Plan Distributions (DB) 16

Notice of Transfer of Excess Pension Assets to Health Benefits 

Accounts (DB) 17

Notice of Determination Letter Request (DB/DC) 17

Notice of Request for Waiver of Minimum Funding Standards 

(DB/Certain DC) 18

Notice of Substantial Employer Status (Multiple Employer Plans) 

(DB) 18

Investment Blackout Notice (DC) 19

Notice of Intent to Terminate (DB) 19

Notice of Commencement of Coverage Under COBRA Health Care 

Continuation (HW) 20

Notice of Qualifying Event Under COBRA (HW) 21

Notice of Women’s Health and Cancer Rights Act of 1998 (HW) 21

SPD Notice of Newborns’ and Mothers’ Health Protection Act (HW) 21

Summary of Benefit Plan-Related Filing Forms 22

Calendar of Administrative Requirements for Plans 

With January 1 Plan Years 23

Calendar of Administrative Requirements for Plans 

With July 1 Plan Years 24

2011 

Expanded Reporting and Disclosure Requirements Calendar 

Single-Employer Pension and Welfare Plans Under ERISA 

NOTE: Throughout, “DB” represents defined benefit plans, “DC” represents defined contribution plans, and “HW” represents health and welfare plans.

Table of Contents
2 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Reporting Requirements

Item Description Recipient Due Date Forms Law/Regulation

IRS Form 

1099-R 

(DB/DC)

Report of distributions from pensions, 

annuities, retirement or profit-sharing plans, 

IRAs, insurance contracts, etc.

IRS and payees 1/31/2011 payees; 2/28/2011 (3/31/2011 

if filed electronically) IRS; additional 30 days 

to file with IRS if extension requested

File with transmittal IRS Form 

1096, if filing on paper

IRC Sec. 6047(d), 

IRS Reg. 35.3405-1T, E-9

Method of Delivery If required to file 250 or more Form 1099-Rs, file electronically. Otherwise, Form 1099-R may be filed on paper. Timely mailing is treated as 

timely filing as evidenced by U.S. postmark, registered mail receipt or date recorded by private delivery service.

Who Must File or Disclose Plan administrator or, if the plan administrator does not make the required reports, the payor.

Estimated 

Flat-Rate 

Premium 

Filing (DB)

Estimated flat-rate premium payment for DB 

plans with 500 or more participants. The 2011 

flat-rate premium is $35 per participant. 

PBGC 2/28/2011 ERISA Sec. 4006 and 4007, 

PBGC Reg. 4006 and 4007

Method of Delivery Electronic filing using My Plan Administration Account (My PAA). My PAA is a PBGC-designed web-based filing program.

Who Must File or Disclose Plan administrators of DB plans

PBGC 

Reporting for 

Underfunded 

Plans (DB)

Annual reporting of financial and actuarial 

information 

PBGC 4/15/2011. If all nonexempt controlled group 

members have the same non-calendar fiscal 

year, 105 days after close of fiscal year

No prescribed form ERISA Sec. 4010, PBGC 

Reg. 4010, PBGC Technical 

Update 09-2 

Method of Delivery Electronic filing using the PBGC e-4010 web-based application

Who Must File or Disclose The contributing sponsor of a DB plan and members of the contributing sponsor’s controlled group if any plan in the controlled group 

has a funding percentage below 80%. Reporting is also required if (1) the conditions for imposition of a lien for having missed required 

quarterly plan contributions in excess of $1 million have been met by any plan maintained by the contributing sponsor or any member of 

its controlled group, or (2) minimum funding waivers in excess of $1 million have been granted for any plan maintained by the contributing 

sponsor or any member of its controlled group, and any portion thereof is still outstanding. Reporting is waived for a controlled group if the 

aggregate plan underfunding does not exceed $15 million (disregarding those plans with no underfunding); however, the waiver does not 

apply if reporting is required for any reason other than having a funding percentage below 80%.

IRS Form 

5558 (DB/

DC/HW)

Application for extension of time to file Form 

5500. Extension up to 10/17/2011. Not 

required if filer uses automatic extension to 

9/15/11; i.e., plan year and employer tax year 

are the same and the employer was granted 

extension for income tax return.

IRS 8/1/2011 IRS Form 5558 DOL Reg. 2520.104a-5(a)(2)

Method of Delivery Paper filing. Timely mailing is treated as timely filing as evidenced by U.S. postmark, registered mail receipt or date recorded by private 

delivery service.

Who Must File or Disclose Form 5558 does not require a signature and may be filed by the plan sponsor, the plan administrator or a third party acting on behalf of the 

plan. If Form 5558 is filed on time and is complete, the extension is automatic.
3 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Form 5500 

(including 

applicable 

schedules 

and 

attachments) 

(DB/DC/HW)

Annual return/report of employee benefit plan DOL, IRS and the PBGC. 

DOL created EFAST2 to 

streamline the filing and 

processing methods for 

Form 5500.

8/1/2011 (9/15/2011 if automatic 

extension applies); 10/17/2011 if Form 

5558 is filed 

Form 5500 Annual Return/

Report of Employee Benefit 

Plan; Form 5500-SF Annual 

Return/Report of Small 

Employee Benefit Plan; 

Schedule A–Insurance 

Information; Schedule 

C–Service Provider 

Information; Schedule 

D–DFE/Participating Plan 

Information; Schedule 

G–Financial Transaction 

Schedules; Schedule 

H–Financial Information; 

Schedule I–Financial 

Information–Small Plan; 

Schedule MB–Multiemployer 

DB Plan and Certain 

Money Purchase Plan 

Actuarial Information; 

Schedule R–Retirement 

Plan Information; Schedule 

SB–Single-Employer DB 

Plan Actuarial Information; 

Independent Accountant’s 

Report

ERISA Sec. 103, ERISA 

Sec. 104, PBGC Reg. 4065, 

IRC Sec. 6058, DOL Sec. 

2520.104-46(b)

Method of Delivery Form 5500 Annual Returns/Reports and any required schedules and attachments, must be completed and filed electronically 

using EFAST2-approved third-party software or using iFile.

Who Must File or Disclose Plan administrators of DB and DC plans, welfare benefit plans and plans that participate in a master trust must sign and file Form 5500. 

Unfunded and fully insured welfare plans with fewer than 100 participants are not required to file Form 5500. Governmental plans and church 

plans that have not elected ERISA coverage under Section 414(e) of the Internal Revenue Code also do not file Form 5500. An alternative 

filing method for nonqualified pension plans is described in DOL Reg. 2520.104-23.

IRS Form 

8955-SSA 

(Replaces 

Schedule SSA 

(Form 5500)) 

(DB/DC)

Annual Registration Statement Identifying 

Separated Participants With Deferred Vested 

Benefits

IRS Plan administrators are not required to file 

Form 8955-SSA for the 2009 plan year until 

the IRS issues further instructions. 

IRS Form 8995-SSA IRC Sec. 6057(a)

Method of Delivery Paper filing. Timely mailing is treated as timely filing as evidenced by U.S. postmark, registered mail receipt or date recorded by private 

delivery service.

Who Must File or Disclose Plan administrators of DB and DC plans
4 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Comprehensive 

PBGC Premium 

Filing (DB)

A comprehensive premium filing is used to 

report flat-rate premium and related data, 

variable-rate premium and related data, and 

additional data such as identifying information 

and miscellaneous plan-related or filingrelated data. For large plans (500 or more 

participants), the comprehensive premium 

filing also serves to reconcile an estimated 

flat-rate premium paid earlier in the year. The 

2011 flat-rate premium is $35 per participant. 

The variable-rate premium is based on plan 

liabilities. Premium payments are a plan liability 

and may be paid from plan assets.

PBGC 10/17/2011 (plans with 100 or more 

participants); variable-rate premium can be 

an estimate with a true-up by 4/30/2012 

if certain conditions are met; 4/30/2012 

if fewer than 100 participants

Prescribed electronic format ERISA Sec. 4006 and 4007, 

PBGC Reg. 4006 and 4007

Method of Delivery Electronic filing using My Plan Administration Account (My PAA). My PAA is a PBGC-designed web-based filing program.

Who Must File or Disclose Plan administrators of DB plans

Reportable 

Events (DB)

Statement of facts related to the reportable 

event, and plan and actuarial information. 

Reportable events include: (a) 20% reduction 

in active participants since beginning of year 

or 25% reduction since beginning of previous 

year; (b) inability to pay plan benefits when 

due; (c) changes in contributing sponsor or 

plan’s controlled group; (d) distributions to a 

substantial owner of $10,000 or more; (e) 

bankruptcy, insolvency, liquidation or dissolution 

of contributing sponsor or controlled group 

member; (f) failure to make required minimum 

funding payment; (g) application for a minimum 

funding waiver; (h) transfer of benefit liabilities 

outside controlled groups; (i) extraordinary 

dividend or stock redemption by controlled 

group member; and (j) default by controlled 

group member on loan balance exceeding $10 

million.

PBGC Post-event reporting is required within 30 

days after plan administrator or contributing 

sponsor knows, or has reason to know, that a 

reportable event has taken place. Waivers or 

extensions are available for certain post-event 

notices if conditions specified in regulations 

are satisfied. Advance reporting is required 

at least 30 days before the effective date of 

certain reportable events. 

PBGC Form 10, PBGC Form 

10-Advance

ERISA Sec. 4043, PBGC 

Reg. 4043; PBGC Technical 

Update 10-4

Method of Delivery By mail, hand delivery, commercial delivery service or electronic filing (e.g., e-mail or fax). Timely mailing is treated as timely filing of postevent notice, as evidenced by (1) a legible U.S. postmark or (2) timely deposit with a commercial delivery service, provided it is received by 

the PBGC within two regular business days. Advance notices are filed on the date received by the PBGC, if received no later than 4:00 p.m. 

on a regular business day. File by next business day if due date falls on a Saturday, Sunday or federal holiday.
5 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Who Must File or Disclose The plan administrators and each contributing sponsor of an employee DB pension plan subject to the plan termination insurance 

provisions of ERISA for which a reportable event has occurred. A filing by the plan administrator or contributing sponsor will be deemed a 

filing by all persons required to notify the PBGC.

Generally, a company is subject to advance reporting if (1) neither the contributing sponsor nor the member of the controlled group to 

which the event relates is a public company, and (2) a “threshold test” is met, (3) in the aggregate, unfunded vested benefits (UVBs) of 

plans maintained by the controlled group exceed $50 million (disregarding plans with no UVBs), and (4) the aggregate funded vested 

benefit percentage (i.e., the ratio of assets to vested benefits) for underfunded plans is less than 90%. UVBs and vested benefits are 

calculated as of the testing date (generally the last day of the plan year preceding the event year).

Notice of 

Failure 

to Make 

Required 

Contributions 

of More Than 

$1 Million 

(DB)

Information needed by the PBGC to make 

decisions regarding enforcement of a lien 

imposed by ERISA in favor of the plan for failure 

to make certain required contributions. The lien 

does not arise, and the PBGC is not required 

to be notified, if the total of unpaid balances 

(including interest and funding waivers) does 

not exceed $1 million.

PBGC No later than 10 days after the due date of 

the required payment. Notice is still required if 

missed contribution is made within the 10-day 

period.

PBGC Form 200 ERISA Sec. 303(k), IRC Sec. 

430(k), PBGC Reg. 4043.81

Method of Delivery By mail, commercial delivery service, hand delivery or electronic transmission (e.g., e-mail or fax). Form 200 is treated as filed when 

received by the PBGC.

Who Must File or Disclose The contributing sponsor and, if the contributing sponsor is a member of a parent-subsidiary controlled group, the ultimate parent. If either 

the contributing sponsor or the ultimate parent completes and submits Form 200, the PBGC will consider the notice requirement satisfied.

Plan Merger, 

Consolidation, 

or Transfer 

of Assets or 

Liabilities (DB)

Actuarial Statement and information concerning 

the merger, consolidation or transfer

IRS At least 30 days before the merger, 

consolidation or transfer of assets or 

liabilities

Form 5310-A IRC Sec. 6058(b), IRS Reg. 

301.6058-1

Method of Delivery By mail or designated private delivery service. Timely mailing is treated as timely filing.

Who Must File or Disclose The plan sponsor or plan administrator of a pension or profit-sharing plan involved in a merger or transfer of plan assets or liabilities. See 

instructions to Form 5310-A for exceptions to the reporting requirement for mergers, consolidations or transfers of plan assets 

or liabilities.

Notice of 

Qualified 

Separate Line 

of Business 

(QSLOB) 

(DB/DC)

Notice that employer elects to be treated as 

operating Qualified Separate Line of Business 

(QSLOB) or that it either modifies or revokes a 

previously filed notice

IRS Notice of QSLOB election, modification or 

revocation must be given on or before the 

notification date. The notification date for 

a testing year is the later of (a) Oct. 15 

following the testing year, or (b) the 15th day 

of the close of the plan year of the employer’s 

plan that begins earliest in the testing year. 

The testing year is the calendar year.

Form 5310-A IRS Rev. Proc. 93-40

Method of Delivery By mail or designated private delivery service. Timely mailing is treated as timely filing.

Who Must File or Disclose Employers electing to be treated as operating QSLOBs. Only one notice per controlled group employer (within the meaning of Code Section 

414(b), (c) or (m)) is required.
6 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Change in 

Plan/Trust 

Year (DB/DC)

Information on the plan or trust year change. 

Filing must be in duplicate. Certain changes in 

plan/trust year are granted automatic approval 

under Rev. Proc. 87-27.

IRS On or before the last day of the short-year 

period to effect change in plan or trust year

Form 5308 IRC Sec. 412(d)(1), IRC Sec. 

442, Rev. Proc. 87-27

Method of Delivery By mail

Who Must File or Disclose The employer of a DB, money purchase or target benefit pension plan that intends to change its plan year and the employer of any qualified 

pension (DB or DC) plan that intends to change its trust year

Change in 

Funding 

Method (DB)

Changing a plan’s funding method requires IRS 

approval. For plan years beginning on or after 

1/1/2009, IRS Ann. 2010-3 grants automatic 

approval for certain changes in funding method 

with respect to single-employer DB plans that 

result either from a change in the valuation 

software used to determine the liabilities for 

such plans or from a change in the enrolled 

actuary and the business organization providing 

actuarial services to the plan.

IRS Change request should be filed with the IRS 

before the close of the plan year to which it 

applies. However, requests made within 21/2

months after the close of the plan year will 

generally be considered, at the discretion 

of the IRS, if the filer attaches a statement 

detailing an adequate reason for the delay. 

Requests made after 21/2 months after the 

close of the plan year generally will not be 

considered. However, a request for approval 

of a change in funding method involving a 

plan merger should be made no later than 4 

months before the filing deadline for Schedule 

SB (Actuarial Information) of Form 5500 (of 

the merged plan) for the plan year in which 

the merger took place.

No form prescribed. Rev. 

Proc. 2000-41 outlines the 

information that needs to 

accompany the request, 

including applicable 

worksheets setting forth 

the effect of the proposed 

change. 

IRC Sec. 412(d)(1), IRS Rev. 

Proc. 2000-40 (note: Rev. 

Proc. 2000-40 has not been 

updated for PPA ‘06), IRS 

Announcement 2010-3

Method of Delivery By mail or hand delivery to IRS national office

Who Must File or Disclose The plan administrator or plan sponsor of a DB pension plan that intends to change the plan’s funding method

Notice of 

Withdrawal of 

a Substantial 

Employer 

(Multiple 

Employer 

Plans) (DB)

Notification of withdrawal and request for 

determination of associated liability

PBGC Within 60 days after withdrawal from plan No form prescribed ERISA Sec. 4063(a)

Method of Delivery By mail, hand delivery, commercial delivery service or electronic filing (e.g., e-mail or fax). Timely mailing is treated as timely filing, as 

evidenced by (1) a legible U.S. Postal Service postmark, or (2) timely deposit with a commercial delivery service, or (3) the date on which 

the information is transmitted electronically to the PBGC, provided there is no reason to believe the information was not delivered.

Who Must File or Disclose Plan administrators of DB pension plans if at least two contributing sponsors are not under common control

Notification 

of Application 

for 

Recognition 

of Exempt 

Status

Information on plan terms and benefits. Trusts 

of voluntary employees’ benefit associations 

(VEBAs) and SUB plans will not be recognized 

as tax-exempt by the IRS unless the required 

notification is given.

IRS 15 months from the end of the month in 

which the organization or trust was organized

Form 1024 IRC Sec. 505(c), 

IRS Reg. 1.505(c)-1T, 

IRS Reg.301.9100-2
7 2010 Reporting and Disclosure Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery By mail or private delivery service

Who Must File or Disclose Used by most types of organizations (other than qualified retirement plans) to apply for exemption under IRC Section 501(a)

Annual 

Report for 

MEWAs 

and Certain 

Entities 

Claiming 

Exception 

(ECEs) (HW)

Information concerning compliance by multiple 

employer welfare arrangements (MEWAs) 

with the Health Insurance Portability and 

Accountability Act of 1996 (HIPAA), the Mental 

Health Parity Act of 1996, the Newborns’ and 

Mothers’ Health Protection Act of 1996 and the 

Women’s Health and Cancer Rights Act of 1998

DOL March 1 (or next business day) following each 

calendar reporting year. One-time, 60-day 

automatic extension available. Also, within 

90 days of origination, unless an exception 

applies

Form M-1 ERISA Sec. 101(g), DOL Reg. 

2520.101-2

Method of Delivery By mail or private delivery service. Online electronic filing available at www.askebsa.dol.gov/mewa

Who Must File or Disclose Administrators of MEWAs and Entities Claiming Exception (ECEs). A MEWA is a welfare benefit plan or arrangement that provides medical 

benefits to the employees of two or more employers. An ECE is an arrangement that claims not to be a MEWA because it is collectively 

bargained. Certain exemptions are available.

Disclosure Requirements

DB Plan 

Annual 

Funding 

Notice 

Summary of plan’s funded status for the plan 

year and two previous plan years, participant 

counts, plan’s funding policy and asset 

allocation information, and schedule of plan 

amendments and other known events having 

a material effect on funded status. Also, a 

summary of ERISA plan termination procedures 

and PBGC guarantee limits, information about 

obtaining a copy of plan’s annual report, and 

notice of an ERISA Section 4010 filing (if any)

Plan participants, 

beneficiaries, and labor 

organizations representing 

plan participants and 

beneficiaries. PBGC if 

underfunded by more than 

$50 million

4/30/2011. Small plans (100 or fewer 

participants on each day during the plan year 

preceding the plan year to which the notice 

relates) must provide the notice by the filing 

date for the plan’s Form 5500. If Form 5500 

is not filed in a timely manner, the annual 

funding notice is still due on the Form 5500 

due date (including extensions). 

Specified format described in 

DOL Field Assistance Bulletin 

(FAB) 2009-1 or DOL Prop. 

Reg. 2510.101-5, Appendix 

A, provide model forms. 

(Either format may be used.)

ERISA Sec. 101(f); DOL FAB 

2009-1, DOL Prop. Reg. 

2510.101-5

Method of Delivery Any method reasonably calculated to ensure actual receipt and likely to result in full distribution. Includes hand delivery and first-class 

mail. The funding notice may be furnished electronically in accordance with the DOL safe harbor rules on electronic communications or the 

IRS E-sign rules.

Who Must File or Disclose Plan administrators of DB plans subject to Title IV of ERISA

Summary 

Annual 

Report (SAR) 

(DC/HW)

Summary information on plan’s financial 

activities as reported on Form 5500 Annual 

Report and statement of right to receive copy 

of Form 5500 Annual Report. Certain foreign 

language rules apply to large plans in which the 

lesser of 500 or 10% or more of all participants 

are literate only in the same non-English 

foreign language, and to small plans that cover 

fewer than 100 participants at the beginning 

of the plan year in which at least 25% of plan 

participants are literate only in the same nonEnglish foreign language.

Each participant covered 

under the plan and each 

beneficiary receiving 

benefits under a DC plan. 

Includes participants who 

terminated employment with 

the employer during or after 

the end of the reporting 

year

9/30/2011 or two months after Form 5500 

is due, if later

Specified format described 

in DOL Reg. 2510.104b10. See also Appendix to 

DOL Reg. 2510.104-46 

for enhanced model notice 

SAR disclosures for small 

DC plans (fewer than 100 

participants) that do not 

attach an independent 

accountant’s report.

ERISA Sec. 104(b)(3), DOL 

Reg. 2520.104b-1, DOL Reg. 

2520.104b-10, DOL Reg. 

2520.104-46(b)
8 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery Any method reasonably calculated to ensure actual receipt and likely to result in full distribution. Includes hand delivery and first-class 

mail. Sending by second- or third-class mail or use of a special insert in an employee newsletter or other periodical is also acceptable if 

certain other requirements are met. Electronic distribution is permitted if the requirements of DOL Reg. 2520.104b-1(c) are satisfied.

Who Must File or Disclose Plan administrators of DC plans and welfare benefit plans that file Form 5500. DB plans covered by Title IV of ERISA are exempt from the 

SAR requirement.

Summary 

Description 

of Material 

Modification 

of Plan 

(SMM) (DB/

DC/HW)

Description of any material modification to the 

plan in 2010 and any change in the information 

required to be included in the SPD.

Automatically and upon 

request to each plan 

participant and to each 

beneficiary receiving 

benefits under a pension 

plan. DOL upon request. 

Participants and 

beneficiaries may choose 

to request the SMM from 

the DOL, which will then 

make the request to the 

plan administrator on their 

behalf.

7/29/2011 No specified format ERISA Sec. 104(a)(6), DOL 

Reg. 2520.104a-8, DOL Reg. 

2520.104b-1, DOL Reg. 

2520.104b-3

Method of Delivery Any method reasonably calculated to ensure actual receipt and likely to result in full distribution. Includes hand delivery and first-class 

mail. Sending by second- or third-class mail or use of a special insert in an employee newsletter or other periodical is also acceptable if 

certain other requirements are met. Electronic distribution is permitted if the requirements of DOL Reg. 2520.104b-1(c) are satisfied. By 

certified mail to DOL

Who Must File or Disclose Plan administrators of employee pension and welfare benefit plans. Top-hat plans using the alternative to the annual reporting method are 

exempt.

Summary 

Plan 

Description 

(SPD) (DB/

DC/HW)

Summary of plan provisions, identification of 

funding media and summary of rights. The SPD 

must be written in a manner calculated to be 

understood by the average plan participant and 

must be sufficiently comprehensive to apprise 

the plan’s participants and beneficiaries of their 

rights and obligations under the plan. Certain 

foreign language rules apply to large plans in 

which the lesser of 500 or 10% or more of 

all participants are literate only in the same 

non-English foreign language, and to small 

plans that cover fewer than 100 participants 

at the beginning of the plan year in which 25% 

or more of all plan participants are literate only 

in the same non-English foreign language. The 

SPD (including related summaries of material 

modifications (or SMMs)) must accurately reflect 

the plan as of no more than 120 days prior to 

the SPD’s release. The SPD must be updated 

every 5 years if changes are made to SPD 

information or plan is amended; 10 years in any 

event.

Automatically and upon 

request to each participant 

covered under the plan 

and to each beneficiary 

receiving benefits under a 

pension plan. DOL upon 

request. Participants and 

beneficiaries may request 

the SPD directly from the 

DOL, which will then make 

the request for them.

New plans — automatically within 120 days 

after effective date or date of adoption of 

plan, whichever is later; new participants — 

automatically within 90 days of eligibility; 

covered participants and beneficiaries — 

within 30 days of request; DOL — within 30 

days of request

No specified format ERISA Sec. 102, ERISA Sec. 

104(a)(6), ERISA Sec. 104(b)

(1), (2) and (4), ERISA Sec. 

104(c), DOL Reg. 2520.102, 

DOL Reg. 2520.104a-8, DOL 

Reg. 2520.104b-1, DOL Reg. 

2520.104b-2 
9 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery Any method reasonably calculated to ensure actual receipt and likely to result in full distribution. Includes hand delivery and first-class 

mail. Sending by second- or third-class mail or use of a special insert in an employee newsletter or other periodical is also acceptable 

if certain other requirements are met. Electronic distribution is permitted if the requirements of DOL Reg. 2520.104b-1(c) are satisfied. 

By certified mail to DOL

Who Must File or Disclose Plan administrators of employee pension (DB and DC) and welfare benefit plans. Top-hat plans using the alternative annual reporting 

method are exempt.

Periodic 

Benefit 

Statements 

(DC)

Individual benefit statement showing the value 

of each investment to which the participant’s 

or beneficiary’s account assets are allocated 

(determined as of the most recent valuation 

date under the plan), including the value of any 

assets held in employer securities (without 

regard to whether such securities were acquired 

by the individual or contributed by the employer). 

Quarterly statements must also include an 

explanation of any limitations or restrictions 

on the participant’s (or beneficiary’s) right to 

direct an investment; an explanation of the 

importance of a well-balanced and diversified 

investment portfolio, including a statement 

of the risk that holding more than 20% of a 

portfolio in the security of one entity (such as 

employer securities) may not achieve adequate 

diversification; and a notice directing the 

participant or beneficiary to DOL’s website for 

additional information on individual investing and 

diversification.

Automatically to plan 

participants and 

beneficiaries and upon 

written request from same

At least once each calendar-year quarter to 

participants and beneficiaries who have the 

right to direct investments, and annually to 

those who do not. The statement must be 

provided within 45 days of the end of the 

calendar quarter. The deadline for furnishing 

benefit statements under DC plans that do 

not provide for directed investments is the 

filing date of the Form 5500 for the plan 

year to which the statement relates. (DOL 

FAB 2007-3). When furnished upon request, 

disclosure once every 12 months 

The Pension Protection 

Act (PPA) of 2006 directs 

the DOL to issue a model 

statement. DOL FAB 2006-3 

provides model statement 

of investment principles 

for plans with participantdirected accounts.

ERISA Sec. 105, ERISA Sec. 

209, DOL FABs 2006-3 and 

2007-3

Method of Delivery By written document to last known address or through an electronic medium (e.g., e-mail, website). There are two methods by which a plan 

may provide an electronic statement. The consumer consent method (described in IRS Reg. 1.401(a)-21) requires consent to electronic 

delivery in lieu of paper, and disclosures that outline the scope of the consent, the right to withdraw consent, and other terms and 

conditions, including hardware and software requirements. The alternative method requires that the recipient be effectively able to access 

the electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to request 

a paper notice at no charge.

Who Must File or Disclose Plan administrators of individual account (DC) plans

Periodic 

Benefit 

Statements 

(DB) 

Individual statement of accrued and vested 

pension amounts (or the earliest date on 

which benefits will become vested) and an 

explanation of any permitted disparity or floor 

offset arrangement applied in determining the 

participant’s accrued benefit 

Vested participants who are 

employed by the employer 

when the statement is 

furnished, and to other 

plan participants and 

beneficiaries on written 

request

DB plans generally are required to furnish 

participants a pension benefit statement at 

least once every 3 years. The first pension 

benefit statement is due for the 2009 plan 

year, provided the plan does not elect to 

comply with the alternative notice provision. 

The plan may satisfy the alternative notice 

requirement for DB plans if the administrator 

provides notice of the availability of the 

pension benefit statement and how to obtain it 

at least once a year, and furnishes the required 

notification by Dec. 31 of each calendar year.

The PPA directs the DOL to 

issue a model statement.

ERISA Sec. 105, ERISA Sec. 

209, DOL FAB 2006-3
10 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery By written document to last known address or through an electronic medium (e.g., e-mail, website). There are two methods by which a plan 

may provide an electronic notice. The consumer consent method requires consent to electronic delivery in lieu of paper, and disclosures 

that outline the scope of the consent, the right to withdraw consent, and other terms and conditions, including hardware and software 

requirements. The alternative method requires that the recipient be effectively able to access the electronic medium used to provide the 

notice (e.g., employer website). In addition, the recipient must be advised of the right to request a paper notice at no charge.

Who Must File or Disclose Plan administrators of DB plans

401(k)/(m) 

Safe Harbor 

Notice (DC)

Notice of eligible employee’s rights and 

obligations under a 401(k) safe harbor plan. 

The notice must be sufficiently accurate and 

comprehensive to apprise employees of their 

rights and obligations under the plan, and 

written in a manner calculated to be understood 

by the average eligible plan participant. Content 

prescribed in IRS Reg. 1.401(k)-3(d). For plan 

years beginning after 12/31/2006, a safe 

harbor notice must include a description of 

the plan’s withdrawal and vesting provisions 

applicable to contributions under the plan. 

Merely cross-referencing the relevant portions 

of an SPD is not sufficient. A plan satisfies the 

notice requirement for the 401(m) matching 

contribution safe harbor if it provides the 

401(k) safe harbor notice.

Eligible employees At least 30 days and no more than 90 days 

before the beginning of each plan year. If an 

employee becomes eligible after the 90th day 

before the beginning of the plan year, no more 

than 90 days before his/her eligibility date 

and no later than the eligibility date. Notices 

delivered outside of the 90-/30-day window 

may satisfy the notice requirement if given 

within a reasonable period of time before the 

beginning of the plan year (or the date the 

employee becomes eligible) based on all facts 

and circumstances. 

No form prescribed IRC Sec. 401(k)(12)(D), IRS 

Sec. 401(k)(13)(E)(ii), IRS 

Reg. 1.401(k)-3(d), IRS Reg. 

1.401(m)-3(e); IRS Reg. 

1.401(a)-21 

Method of Delivery By written document or through an electronic medium (e.g., e-mail, website or automated telephone system) reasonably accessible to the 

distributee. There are two methods by which a plan may provide an electronic notice. The consumer consent method requires consent to 

electronic delivery in lieu of paper, and disclosures that outline the scope of the consent, the right to withdraw consent, and other terms 

and conditions, including hardware and software requirements. The alternative method requires that the recipient be effectively able to 

access the electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to 

request a paper notice at no charge.

Who Must File or Disclose Plan administrators of plans intending to satisfy the IRC Section 401(k)(12) or IRC Section 401(m)(11) design-based safe harbor methods 

for satisfying the annual ADP and ACP nondiscrimination tests

Notice of 

Automatic 

Contribution 

Arrangement 

(DC)

Notice of the participant’s rights and obligations 

under a plan’s eligible automatic contribution 

arrangement. Such rights must include 

the participant’s right not to have elective 

contributions made on his/her behalf, to elect 

to have such contributions made at a different 

percentage and to elect out of the arrangement 

before the first elective contribution is made. 

The notice must also provide an explanation 

of how the contributions will be invested in 

the absence of any investment election by the 

participant.

Each participant to whom 

the arrangement will apply 

in the upcoming plan year

At least 30 days and no more than 90 days 

before the beginning of each plan year. If an 

employee becomes eligible after the 90th 

day before the beginning of the plan year, 

no more than 90 days before the employee 

becomes eligible. If it is not practical to give 

advance notice (e.g., because the employee is 

eligible immediately upon hire), notice may be 

given before the first paydate for the payroll 

period that includes the employee’s eligibility 

date. Notice of an automatic contribution 

arrangement may be combined with notice 

of a plan’s Qualified Default Investment 

Alternative (QDIA).

Sample notice available. 

The sample notice is for 

a hypothetical qualified 

automatic contribution 

arrangement that permits 

eligible automatic 

contribution arrangement 

withdrawals and has certain 

other characteristics. A plan 

administrator will have to 

modify the sample notice to 

the extent a plan’s form and 

operations differ from the 

hypothetical plan. 

ERISA Sec. 514(e)(3), FAB 

2008-3; IRC 401(k)(13)(E), 

IRC 414(w)(4)
11 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery By written document to last known address or through an electronic medium (e.g., e-mail, website). There are two methods by which a plan 

may provide an electronic statement. The consumer consent method (described in IRS Reg. 1.401(a)-21) requires consent to electronic 

delivery in lieu of paper, and disclosures that outline the scope of the consent, the right to withdraw consent, and other terms and 

conditions, including hardware and software requirements. The alternative method requires that the recipient be effectively able to access 

the electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to request 

a paper notice at no charge.

Who Must File or Disclose Plan administrators of automatic contribution arrangement under DC plans

Notice of 

Qualified 

Default 

Investment 

Alternative 

(QDIA) (DC)

Initial notice must include a description of 

the circumstances under which assets may 

be invested on behalf of the participant 

or beneficiary in a QDIA; an explanation of 

participants’ or beneficiaries’ rights to direct 

the investment of assets in their individual 

accounts; and a description of participants’ 

and beneficiaries’ right to direct the investment 

of assets in a QDIA to any other investment 

alternative under the plan. Initial notice must 

also include a description of any applicable 

restrictions, fees or expenses in connection 

with the transfer; and an explanation of where 

participants and beneficiaries may obtain 

information about alternative investments. 

Annual notice must contain explanation of 

participants’ or beneficiaries’ rights under the 

plan to designate how to invest contributions 

and earnings, and how contributions and 

earnings will be invested if the participant or 

beneficiary makes no such election.

Participants, alternate 

payees and beneficiaries 

of deceased participants 

who are eligible to make 

investment elections under 

the plan

Initial notice — at least 30 days in advance 

of (A) the date of plan eligibility, or any 

first investment in a QDIA on behalf of the 

participant or beneficiary; or (B) on or before 

the date of plan eligibility, provided the 

participant has the opportunity to make a 

permissible withdrawal under an automatic 

contribution arrangement. Annual notice — 

at least 30 days before the beginning of the 

plan year

Sample notice is available. ERISA Sec. 404(c)(5), 

Reg. Sec. 2550.404c-5(c)(3), 

FAB 2008-3

Method of Delivery By written document to last known address or through an electronic medium (e.g., e-mail, website). There are two methods by which a plan 

may provide an electronic notice. The consumer consent method requires consent to electronic delivery in lieu of paper and disclosures 

that outline the scope of the consent, the right to withdraw consent, and other terms and conditions, including hardware and software 

requirements. The alternative method requires that the recipient be effectively able to access the electronic medium used to provide the 

notice (e.g., employer website). In addition, the recipient must be advised of the right to request a paper notice at no charge.

Who Must File or Disclose Plan administrators of DC plans that elect coverage under ERISA Section 404(c), which limits a plan fiduciary’s liability with respect to 

participant-directed investments
12 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Notice 

of Rights 

Concerning 

Employer 

Securities 

(DC)

Notice of right to diversify investments in 

employer stock, statement of the importance of 

diversifying retirement account assets and plan 

contact information

Participants, alternate 

payees and beneficiaries 

of deceased participants 

with an interest in elective 

deferrals and/or employee 

contributions (after-tax or 

rollover) under the plan. 

Also, participants (and 

their alternate payees) who 

have completed at least 

3 years of service, and 

beneficiaries of deceased 

participants who have an 

interest in other employer 

contributions under the 

plan.

Not later than 30 days before the first date on 

which the individuals are eligible to exercise 

their diversification rights 

Model Notice in IRS Notice 

2006-107

ERISA 101(m), IRS Notice 

2006-107

Method of Delivery Written, electronic or other appropriate form to the extent such form is reasonably accessible to the recipient

Who Must File or Disclose Plan administrators of DC plans holding publicly traded employer securities. Stand-alone employee stock ownership plans (ESOPs) that are 

not subject to IRS Section 401(k) or (m) are exempt.

Rollover 

Notice 

(DB/DC)

Notice of the right to elect a direct rollover 

and that automatic distribution by direct 

rollover applies to certain distributions; the 

required withholding of tax on eligible rollover 

distributions not rolled over; the differences 

between rollover contributions to traditional 

IRAs and qualified rollover contributions to Roth 

IRAs; the taxpayer eligibility (modified gross 

income and tax filing status) requirements 

that apply to qualified rollover contributions to 

Roth IRAs; and the related tax and withholding 

consequences of each, as well as certain other 

tax rules

Participants, alternate 

payees and beneficiaries 

who are eligible to receive 

distributions that are 

eligible rollover distributions

At least 30 and no more than 180 days 

before distribution is made. However, the 

distributee may waive the 30-day period 

provided the plan administrator clearly informs 

the distributee of his/her right to consider 

whether or not to elect a direct rollover for at 

least 30 days. Alternatively, distribute notice 

more than 180 days before distribution (e.g., 

in SPD) and provide distributee with summary 

notice during the 180-/30-day period (subject 

to the rules for the distributee’s waiver of the 

30-day period). A summary notice must set 

forth the principal provisions of the Section 

402(f) notice, must refer the distributee to 

the most recent version of the Section 402(f) 

notice, and must advise the distributee that, 

upon request, a copy of the Section 402(f) 

notice will be provided without charge.

Model notices in IRS Notice 

2009-68 for (1) Section 

401(k) plans with Roth 

accounts and (2) all other 

plans. Section 401(k) plans 

with Roth accounts may 

satisfy 402(f) by distributing 

both model notices in Notice 

2009-68 to recipients of 

eligible rollover distributions 

in Roth accounts. 

IRC Sec. 402(f), IRS Reg. 

1.402(f)-1, Notice 2009-68, 

IRC Sec. 1.408-6, IRS Reg. 

1.401(a)-21

Method of Delivery By written document to last known address or through an electronic medium (e.g., e-mail, website). There are two methods by which a plan 

may provide an electronic notice. The consumer consent method requires consent to electronic delivery in lieu of paper, and disclosures 

that outline the scope of the consent, the right to withdraw consent, and other terms and conditions, including hardware and software 

requirements. The alternative method requires that the recipient be effectively able to access the electronic medium used to provide the 

notice (e.g., employer website). In addition, the recipient must be advised of the right to request a paper notice at no charge.

Who Must File or Disclose Plan administrators of DB and DC plans, 403(b) tax-sheltered annuities and governmental 457 plans
13 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Explanation 

of Qualified 

Preretirement 

Survivor 

Benefit (DB/ 

Certain DC)

A general explanation of the qualified 

preretirement survivor annuity (QPSA), the 

circumstances under which it would be paid, 

the availability of the election of the QPSA and 

a description of the financial effect of electing 

the QPSA on the participant’s benefit (i.e., an 

estimate of the reduction to the participant’s 

estimated normal retirement benefit)

Participants with vested 

accrued benefits or account 

balances

During the period from the beginning of the 

plan year in which the employee attains age 

32 to the end of the plan year in which the 

employee reaches age 34. Special rules apply 

for participants who commence participation 

after 32 or who separate from service prior 

to 35.

Sample language in IRS 

Notice 97-10. No form 

prescribed for disclosing 

financial effect of QPSA

ERISA Sec. 205(c), IRC Sec. 

417(a)(3), IRS Reg. 1.417(a)

(3)-1, IRS Reg. 1.401(a)-20, 

IRS Reg. 1.401(a)-21

Method of Delivery Personal delivery, first-class mail or electronically by such time as to reasonably ensure receipt within the applicable time period. There 

are two methods by which a plan may provide an electronic notice. The consumer consent method requires consent to electronic delivery 

in lieu of paper, and disclosures that outline the scope of the consent, the right to withdraw consent, and other terms and conditions, 

including hardware and software requirements. The alternative method requires that the recipient be effectively able to access the 

electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to request a 

paper notice at no charge.

Who Must File or Disclose Plan administrators of DB and DC plans. Profit-sharing plans, Section 401(k) profit-sharing plans and stock bonus plans (including ESOPs) 

that do not pay annuities and pay 100% of the vested account balance to the surviving spouse are exempt from QPSA requirements.

Explanation 

of Qualified 

Joint and 

Survivor 

Annuity 

(QJSA), 

Financial 

Effect and 

Relative 

Values of 

Optional 

Forms of 

Payment 

(DB/Certain 

DC)

Terms and conditions of joint and survivor 

annuity, right to waive, right to revoke waiver, 

spousal consent conditions, financial effect and 

relative values of optional forms of payment

Participants with vested 

accrued benefits or account 

balances

No less than 30 days and no more than 

180 days before the annuity starting date. 

Alternatively, no less than 7 days before 

distribution date if conditions set forth in IRS 

Reg. 1.417(e)-1 are satisfied. The QJSA notice 

must be provided before the annuity starting 

date, except that a DB plan may provide for a 

retroactive annuity starting date in accordance 

with IRS Reg. 1.417(e)-1.

Sample language in IRS 

Notice 97-10. The sample 

language has not been 

updated for disclosure of 

financial effect and relative 

values of optional forms of 

benefit.

ERISA Sec. 205(c), IRC Sec. 

417(a), IRS Reg. 1.417(a)(3)-

1, IRS Reg. 1.401(a)-20, IRS 

Reg. 1.417(e)-1, IRS Reg. 

1.401(a)-21

Method of Delivery Personal delivery, first-class mail, or electronically by such time as to reasonably ensure receipt within the applicable time period. There 

are two methods by which a plan may provide an electronic notice. The consumer consent method requires consent to electronic delivery 

in lieu of paper, and disclosures that outline the scope of the consent, the right to withdraw consent, and other terms and conditions, 

including hardware and software requirements. The alternative method requires that the recipient be effectively able to access the 

electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to request a 

paper notice at no charge.

Who Must File or Disclose Plan administrators of DB and DC plans. Profit-sharing plans, Section 401(k) profit-sharing plans and stock bonus plans (including ESOPs) 

that do not pay annuities and pay 100% of the vested account balance to the surviving spouse are exempt from QJSA and relative value 

disclosures.

Individual 

Deferred 

Vested 

Pension 

Statement 

(DB/DC)

Amount of deferred vested benefit, and notice 

of any benefits that are forfeitable if the 

participant dies before a certain date

Deferred vested terminated 

participants

Generally the due date including extensions 

for the annual report for the year following the 

year of employment termination

No form prescribed ERISA Sec. 105(c), IRC Sec. 

6057, IRS Reg. 301.6057-1

Method of Delivery Regulations provide that the statement is to be delivered to the participant or forwarded to the participant’s last known address. 

Electronically if the safe harbor conditions of DOL Reg. 2520.104b-1(c)(1) or IRS Reg. 1.401(a)-21 are satisfied
14 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Who Must File or Disclose Plan administrators of employee pension (DB and DC) plans

Notice of 

Receipt of 

Domestic 

Relations 

Order (DB/

DC)

Notification of receipt of domestic relations 

order and the plan procedures for determining 

the qualified status of the order. Notification is 

also required when the qualified status of the 

order is determined.

The participant and 

alternate payee(s)

Participants and alternate payee(s) are 

to be notified promptly upon receipt of 

the domestic relations order (including 

the plan’s procedures for determining the 

qualified status of the order). Notice of the 

determination of the order’s qualified status 

must be given within a reasonable period after 

the order is received.

No form prescribed ERISA Sec. 206(d)(3), IRC 

Sec. 414(p)(6)(A)

Method of Delivery By mail to the address included in the domestic relations order

Who Must File or Disclose Plan administrators of DB and DC plans

Notice of 

Suspension 

of Benefits 

(DC)

Explanation of why benefit payments are being 

suspended upon reemployment or continued 

employment after reaching normal retirement 

age, description of plan provisions relating to 

suspension of payment, and claims procedure 

for affording a review of the suspension of 

benefits. Content prescribed by regulations. 

Participants who 

commenced receiving 

benefit payments that are 

suspended because of 

reemployment or whose 

benefit payments are 

suspended because of 

continued employment after 

normal retirement age

During first calendar month or payroll period in 

which the plan suspends benefits on account 

of reemployment or continued employment 

beyond normal retirement age

No form prescribed DOL Reg. 2530.203-3

Method of Delivery Personal delivery or first-class mail. Electronic distribution is permitted if the requirements of DOL Reg. 2520.104b-1(c) are satisfied.

Who Must File or Disclose Plan administrators of DB pension plans that provide for suspension of benefits
15 2010 Single-Employer Pension and Welfare Plans Under ERISA Reporting Requirements [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Notice of 

Significant 

Reduction 

in Rate 

of Future 

Benefit 

Accrual (DB)

Notice of plan amendment providing for a 

significant reduction in the rate of future 

benefit accruals (including a plan freeze), or the 

elimination or significant reduction in an early 

retirement benefit or retirement-type subsidy. If 

a plan amendment offers a choice between a 

new benefit formula and an old benefit formula, 

the notice must provide information sufficient 

to enable an informed choice. The notice 

must be written in a manner calculated to be 

understood by the average plan participant 

and must provide sufficient information to 

allow recipients to understand the magnitude 

of the reduction. Notice under ERISA Section 

101(j) for amendments restricting benefits in 

accordance with IRC Section 436 will satisfy 

both the timing and content requirements for 

a Section 204(h) notice to plan participants.

Participants whose rate of 

future benefit accrual is 

reasonably expected to be 

significantly reduced by the 

amendment. Also, alternate 

payees under a Qualified 

Domestic Relations Order

Generally, at least 45 days before the effective 

date of the plan amendment. The 45-day 

advance notice period is shortened to 15 

days for amendments adopted in connection 

with business mergers and acquisitions, 

and for amendments of small plans. If an 

amendment is adopted in connection with a 

merger or acquisition involving plan transfers 

or mergers, and the amendment affects only 

an early retirement benefit or retirement-type 

subsidy (but does not reduce the rate of future 

benefit accrual), notice must be provided no 

later than 30 days after the effective date of 

the amendment. If a plan amendment offers 

a choice between a new benefit formula and 

an old benefit formula, the general timing 

rules apply, except that additional information 

sufficient to enable an informed choice must 

be provided within a period that is reasonably 

contemporaneous with the date by which an 

individual is required to choose. 

No form prescribed ERISA Sec. 204(h), IRC 

4980F, IRS Reg. 54. 

4980F-1, IRS Notice 2007-6 

(relating to cash balance 

plans)

Method of Delivery Measures that result in actual receipt or measures reasonably calculated to ensure actual receipt, including first-class mail or hand delivery. 

Electronic methods (other than oral communications or recordings of oral communications) are acceptable if certain conditions are satisfied. 

The 204(h) notice may be enclosed with or combined with other notice(s) provided by the employer or the plan administrator. Notice is deemed 

to be provided on a date if it has been provided by the end of that date. When notice is delivered by first-class mail, the notice is considered 

provided as of the U.S. postmark date. There are two methods by which a plan may provide an electronic notice. The consumer consent method 

requires consent to electronic delivery in lieu of paper and disclosures that outline the scope of the consent, the right to withdraw consent, and 

other terms and conditions, including hardware and software requirements. The alternative method requires that the recipient be effectively able 

to access the electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to 

request a paper notice at no charge.

Who Must File or Disclose Plan administrators of DB, money purchase and target benefit plans

Notice of 

Right to Defer 

a Distribution 

and Notice of 

Consequences 

of Failing to 

Defer (DB/DC)

The amount payable under the normal form 

upon immediate commencement and at the 

later of age 62 or normal retirement age 

without regard to marital status (provided the 

benefit is available without regard to marital 

status). Also, an explanation of any plan 

provisions (and provisions of any health or 

accident plan maintained by the employer) that 

could reasonably be expected to materially 

affect a participant’s decision whether to defer 

receipt of the distribution and a description of 

specified federal tax implications of failing to 

defer

Participants with vested 

accrued benefits who are 

younger than the later of 

age 62 or the plan’s normal 

retirement age on the 

annuity starting date

No less than 30 days and no more than 180 

days before the annuity starting date

No prescribed form. The 

required information regarding 

the consequences of failing to 

defer receipt of a distribution 

must appear together (e.g., 

in a list of consequences of 

failing to defer). Alternatively, 

a cross-reference to where 

the required information may 

be found in notices or other 

information provided or made 

available to the participant; 

a statement of how the 

referenced information may 

be obtained without charge; 

and an explanation of why 

the referenced information is 

relevant to a decision whether 

to defer

ERISA Sec. 203(e), IRC 

Sec. 411(a)(11), Prop. Reg. 

1.411(a)–11, IRS Reg. 

1.401(a)-21
16 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery Personal delivery, first-class mail or electronically by such time as to reasonably ensure receipt within the applicable time period. There 

are two methods by which a plan may provide an electronic notice. The consumer consent method requires consent to electronic delivery 

in lieu of paper, and disclosures that outline the scope of the consent, the right to withdraw consent, and other terms and conditions, 

including hardware and software requirements. The alternative method requires that the recipient be effectively able to access the 

electronic medium used to provide the notice (e.g., employer website). In addition, the recipient must be advised of the right to request a 

paper notice at no charge.

Who Must File or Disclose Plan administrators

Notice of 

Substantial 

Cessation of 

Operations at 

a Facility (DB)

Information regarding the cessation of 

operations at a facility in any location and its 

effect on the plan. Required only when more 

than 20% of active employee participants under 

a plan are separated from employment as a 

result of the cessation of operations

PBGC Within 60 days after cessation of operations Proposed form ERISA Sec. 4062(e); Prop. 

Reg. 4062.1

Method of Delivery By mail, hand delivery, commercial delivery service or electronic filing (e.g., e-mail or fax). Timely mailing is treated as timely filing, as 

evidenced by (1) a legible U.S. Postal Service postmark, or (2) timely deposit with a commercial delivery service, or (3) the date on which 

the information is transmitted electronically to the PBGC, provided there is no reason to believe the information was not delivered.

Who Must File or Disclose Plan administrators of DB pension plans

Notice of 

Failure to Meet 

Minimum 

Funding 

Standards 

(DB/DC)

Notice of failure to make an installment 

payment to meet the minimum funding 

standard within 60 days following the due date 

for such payment, or the minimum funding 

residual payment by its due date

Participants, beneficiaries 

and alternate payees 

under Qualified Domestic 

Relations Orders

Notice to be made within a reasonable period 

of time after the failure and in such manner 

as DOL may prescribe. 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.

No form prescribed ERISA Sec. 101(d)

Method of Delivery No methods prescribed

Who Must File or Disclose The sponsor of a single-employer DB or money purchase pension plan that fails to make a minimum funding installment payment within 

60 days following the due date, or the minimum funding residual payment by its due date

Notice of 

FundingBased 

Limitation 

on Plan 

Distributions 

(DB)

Written notice of (1) funding-based distribution 

limitations on shutdown benefits and other 

unpredictable contingent-event benefits, (2) 

funding-based limitations on accelerated 

benefit distributions, and/or (3) limitation on 

benefit accruals for plans with severe funding 

shortfalls. The notice required under ERISA 

Section 101(j) for plan amendments restricting 

benefits in accordance with IRC Section 

436 will satisfy both the timing and content 

requirements for a Section 204(h) notice.

Plan participants and 

beneficiaries

Within 30 days after the plan becomes 

subject to (1) funding-based distribution 

limitations on shutdown benefits and other 

unpredictable contingent-event benefits 

and/or (2) funding-based limitations on 

accelerated benefit distributions. Within 30 

days after the valuation date for the plan year 

for which the plan’s funding target attainment 

percentage is less than 60%

No form prescribed ERISA Sec. 101(j)

Method of Delivery Written, electronic or other appropriate form to the extent such form is reasonably accessible to persons to whom the notice is required to 

be provided

Who Must File or Disclose Plan administrator of DB plan subject to applicable restrictions
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Item Description Recipient Due Date Forms Law/Regulation

Notice of 

Transfer 

of Excess 

Pension 

Assets to 

Health 

Benefits 

Accounts 

(DB)

Plan and financial information concerning 

transfer of excess DB pension assets to retiree 

health benefit accounts

Plan administrator provides 

notice to participants 

and beneficiaries of plan 

transferring assets. Sponsor 

of transferring pension plan 

provides notice to DOL, plan 

administrator and employee 

organizations representing 

plan participants.

No later than 60 days before date of transfer. 

The employer notice also must be available 

for inspection at the principal office of the 

administrator.

No form prescribed ERISA Sec. 101(e), ERISA 

Tech Rel. 91-1

Method of Delivery Notice to DOL by mail, hand delivery or commercial delivery service. Notice to other parties by any method reasonably calculated to ensure 

actual receipt and likely to result in full distribution. Electronic distribution to participants and beneficiaries is permitted if the requirements 

of DOL Reg. 2520.104b-1(c) are met.

Who Must File or Disclose Plan administrators of DB pension plans that intend to transfer excess DB pension assets to retiree health benefit accounts

Notice of 

Determination 

Letter 

Request 

(DB/DC)

Relevant information concerning plan 

requesting determination letter and rights to 

comment on plan

Generally, all current 

employees eligible to 

participate in plan and 

collective bargaining 

representatives of present 

employees. In a terminating 

plan, present employees 

with accrued benefits, 

former employees with 

vested benefits and 

beneficiaries of deceased 

former employees currently 

receiving benefits

Not less than 10 days nor more than 24 

days prior to the date the application for a 

determination is made

Sample notice in Rev. Proc. 

2011-6

IRC Sec. 7476, IRS Reg. 

1.7476-1, IRS Reg. 1.7476-

2, IRS Reg. 601.201(o)
18 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Method of Delivery Any method or combination of methods reasonably calculated to ensure that each interested party is notified of the application for a 

determination, including by mail, hand delivery or posting. Delivery through an electronic medium (e.g., e-mail, website or automated 

telephone system) reasonably accessible to the distributee is acceptable. There are two methods by which a plan may provide an 

electronic notice. The consumer consent method requires consent to electronic delivery in lieu of paper and disclosures that outline the 

scope of the consent, the right to withdraw consent, and other terms and conditions, including hardware and software requirements. 

The alternative method requires that the recipient be effectively able to access the electronic medium used to provide the notice (e.g., 

employer website). In addition, the recipient must be advised of the right to request a paper notice at no charge.

Who Must File or Disclose Used by plan sponsors of DB and DC plans to request an advance determination of a plan’s qualified status under IRC Section 410(a). 

Governmental plans are exempt from the notice requirement.

Notice of 

Request for 

Waiver of 

Minimum 

Funding 

Standards 

(DB/Certain 

DC)

Notice of filing of application of waiver and 

extent to which plan is funded for benefits that 

are guaranteed by the PBGC (i.e., statement 

of present value of vested benefits; present 

value of benefits, calculated as though the 

plan terminated; and fair market value of plan 

assets)

Participants, beneficiaries 

of deceased participants, 

alternate payees and 

employee organizations 

representing employees 

covered by the application

Within 14 days prior to the date of application Model notice in IRS Rev. 

Proc. 2004-15

ERISA Sec. 303(e), IRC Sec. 

412(f)(4), Rev. Proc. 94-41

Method of Delivery By mail or hand delivery to last known address, or electronically

Who Must File or Disclose The sponsor of a pension (DB, money purchase or target benefit) plan that intends to apply for a variance from the minimum funding 

standard

Notice of 

Substantial 

Employer 

Status 

(Multiple 

Employer 

Plans) (DB)

Notification of substantial employer status Substantial employers. An 

employer is a substantial 

employer if its required 

contributions to the 

plan for each plan year 

constituting either (a) one 

of the two immediately 

preceding plan years, or (b) 

the first two of the three 

immediately preceding 

plan years, totaled 10% or 

more of the plan’s required 

contributions.

Within 6 months after the close of each plan 

year

No form prescribed ERISA Sec. 4066

Method of Delivery By mail, hand delivery, commercial delivery service or electronic filing (e.g., e-mail or fax)

Who Must File or Disclose Plan administrators of DB pension plans if at least two contributing sponsors are not under common control
19 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Investment 

Blackout 

Notice (DC)

Advance notice of any blackout period 

during which the ability of participants and 

beneficiaries to direct or diversify assets 

credited to their accounts or to obtain plan 

loans or distributions will be temporarily 

restricted. In addition to the reasons for 

the blackout period and a description of the 

participants’ and beneficiaries’ rights otherwise 

available under the plan during the blackout 

period, the notice must indicate the expected 

duration of the blackout period by reference to: 

(1) the expected beginning and ending date of 

the blackout period, or (2) the calendar week 

during which the blackout period is expected 

to begin and end, provided that during such 

weeks information as to whether the blackout 

period has begun or ended is readily available, 

without charge, to affected participants and 

beneficiaries, and the notice describes how to 

access such information.

All participants and 

beneficiaries whose rights 

under the plan will be 

temporarily restricted, 

and issuers of employer 

securities subject to the 

blackout period

Not more than 60 days and not less than 

30 days before commencement of the 

blackout period. The 30-day advance notice 

requirement does not apply when (1) deferring 

the blackout period for 30 days after giving 

the notice would result in a violation of 

ERISA’s fiduciary standards (e.g., if the plan 

fiduciary immediately suspends investment 

in employer stock because the employer has 

filed for bankruptcy); (2) when the events 

causing the blackout were unforeseeable or 

beyond the control of the plan administrator, 

and a plan fiduciary reasonably so determines 

in writing; or (3) when the blackout is a result 

of a merger, acquisition, divestiture or similar 

transaction.

Model Notice in DOL Reg. 

2520.101-3(e)

ERISA Sec. 101(i), DOL Reg. 

2520.101-3

Method of Delivery Any method reasonably calculated to ensure actual receipt and likely to result in full distribution. Includes hand delivery and first-class 

mail. Sending by second- or third-class mail or use of a special insert in an employee newsletter or other periodical is also acceptable if 

certain other requirements are met. Electronic distribution is permitted if the requirements of DOL Reg. 2520.104b-1(c) are satisfied.

Who Must File or Disclose Plan administrators of DC plans

Notice of 

Intent to 

Terminate 

(DB)

Written notice of intent to terminate, the 

proposed termination date, a statement 

concerning the cessation of accruals under 

the plan and other information. In a standard 

termination, additional information concerning 

insurer identification, the legal effect of the 

termination and state guaranty coverage 

information

Affected parties, i.e., 

participants, beneficiaries 

of deceased participants, 

alternate payees under 

Qualified Domestic 

Relations Orders, current 

employee organizations and, 

for any group of employees 

not currently represented by 

an employee organization, 

the employee organization, 

if any, that last represented 

the group within the 5-year 

period preceding issuance 

of the Notice of Intent to 

Terminate (NOIT) and, in a 

distress termination, the 

PBGC

At least 60 days and no more than 90 days 

before the proposed termination date. Notice 

of insurer selection may be provided in a 

supplemental notice no later than 45 days 

before the date of distribution.

Model notices in PBGC 

standard termination 

package (PBGC Form 500 

and instructions) and PBGC 

distress termination package 

(PBGC Form 600)

ERISA Sec. 4041(a), PBGC 

Reg. 4041.23, PBGC Reg. 

4041.27, PBGC Reg. 

4041.43

Method of Delivery By hand delivery, first-class mail or commercial delivery service to the affected party’s last known address, or by electronic means (e.g., 

e-mail) if the safe harbor conditions of PBGC Reg. 4000.14 are met. The notice is deemed issued to an affected party on the date on 

which it is (1) handed to the affected party, (2) deposited in the mail, (3) deposited with a commercial delivery service or (4) transmitted 

electronically to the affected party, provided there is no reason to believe the notice was not delivered.
20 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Who Must File or Disclose Plan administrators of DB pension plans subject to the plan termination insurance provisions of ERISA

Notice of 

Commencement 

of Coverage 

Under COBRA 

Health Care 

Continuation 

(HW)

Notice of group health continuation coverage 

rights under COBRA. The updated model 

General Notice includes updated information on 

the premium reduction as well as information 

required in a COBRA election notice.

Generally, covered 

employees and covered 

spouses. If the employee 

and the spouse become 

covered at different times 

(e.g., the covered employee 

marries), a separate initial 

notice must be provided 

to the covered spouse, 

generally within 90 days 

after the coverage begins. 

Plans must provide the 

updated General Notice to 

all qualified beneficiaries 

(not just covered employees) 

who experienced a qualifying 

event between 9/1/2008 

and 2/28/2010, regardless 

of the type of qualifying 

event, and who have not yet 

been provided an election 

notice. If an individual 

receives a Premium 

Assistance Extension Notice 

on a timely basis, he/she 

need not be provided an 

updated General Notice as 

well.

Within 90 days after commencement of 

coverage under a group health plan. An SPD 

containing initial COBRA Notice satisfies the 

requirement if it is delivered within the 90-day 

period.

Updated Model General 

Notice of COBRA 

Continuation Coverage 

Rights. The DOL has made 

the model notice available in

modifiable, electronic form 

on its website: www.dol.gov/

COBRA. 

ERISA Sec. 606, IRC Sec. 

4980B(f)(6), DOL Reg. 

2590.606-1, 75 Fed. Reg. 

2562 (1/15/2010)

Method of Delivery An initial or updated COBRA Notice is considered to be furnished by a plan administrator as of the date of mailing, if mailed by first-class 

mail, certified mail or express mail, or as of the date of electronic transmission, if transmitted electronically. Electronic transmission is 

permitted if the requirements of DOL Reg. 2520.104b-1(c) are met.

Who Must File or Disclose Plan administrators of group health plans covering more than 20 employees during the prior calendar year. Does not apply to certain 

church-related organizations
21 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Item Description Recipient Due Date Forms Law/Regulation

Notice of 

Qualifying 

Event Under 

COBRA (HW)

After an employee’s death, termination of 

employment, reduction of hours, or Medicare 

entitlement, or the employer filing bankruptcy, 

the employer must notify the plan administrator 

of the qualifying event. The administrator must 

then notify the qualified beneficiary of the right 

to COBRA continued coverage.

Covered employee, plan 

administrator or qualified 

beneficiary as necessary

Employers must notify the plan administrator 

generally within 30 days of the event. (The 

time period varies depending on the type 

of qualifying event.) The administrator must 

notify the qualified beneficiary generally 

within 14 days of receipt of notification 

from the employer or qualified beneficiary of 

the qualifying event. If the employer is the 

plan administrator, notice to the qualified 

beneficiary must be provided not later than 

44 days after the date of the qualifying event 

or, if a plan provides that COBRA coverage 

commences on the date of loss of coverage, 

not later than 44 days after the date on which 

coverage was lost due to a disqualifying 

event.

ERISA Sec. 606, IRC Sec. 

4980B(f)(6), DOL Reg. 

2590.606-2, -3 and -4

Method of Delivery First-class, certified or express mail to last known address. Also through electronic media if the requirements of DOL Reg. 2520.104b-1(c) 

are met. Timely sending is treated as timely issuance.

Who Must File or Disclose Plan administrators of group health plans covering more than 20 employees during the prior calendar year. Does not include certain churchrelated organizations

Notice of 

Women’s 

Health and 

Cancer 

Rights Act of 

1998 (HW)

Notice of benefits required under the Women’s 

Health and Cancer Rights Act

Participants and 

beneficiaries

Upon enrollment and at least annually 

thereafter

No form prescribed ERISA Sec. 713

Method of Delivery Notice must be in writing and prominently displayed in any literature or correspondence made available or distributed by the plan.

Who Must File or Disclose Plan administrators of group health plans covering 2 or more employees on the first day of the plan year

SPD Notice 

of Newborns’ 

and Mothers’ 

Health 

Protection 

Act (HW)

Statement of rights under the Newborns’ and 

Mothers’ Health Protection Act

Participants and 

beneficiaries, DOL upon 

request

Provide in SPD or SMM Model statement in DOL Reg. 

Sec. 2520.102-3(u)

ERISA Sec. 711(d), ERISA 

Reg. 2590.711(d)

Method of Delivery Include in plan’s SPD or SMM

Who Must File or Disclose Plan administrators of group health plans covering 2 or more employees on the first day of the plan year
22 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Summary of Benefit Plan-Related Filing Forms

Form Description Form Description

PBGC Form 1 Pension Benefit Guaranty Corporation Annual Premium Payment PBGC Form 1-EZ Pension Benefit Guaranty Corporation Annual Premium Payment for 

Single-Employer Plans Exempt From the Variable-Rate Premium

PBGC Form 1-ES Estimated Premium Payment PBGC Form 10 Post-Event Notice of Reportable Events

PBGC Form 10-Advance Advance Notice of Reportable Events PBGC Form 200 Notice of Failure to Make Required Contribution

PBGC Form 500 Standard Termination Notice Single-Employer Plan Termination PBGC Form 501 Post-Distribution Notice for Single-Employer Standard Terminations

PBGC Form 600 Distress Termination Notice of Intent to Terminate PBGC Form 601 Distress Termination Notice for Single-Employer Plan Termination

PBGC Form 602 Distress Termination Post-Distribution Certification SEC Form S-8 Registration Statement for Employee Stock Purchase, Savings or Similar 

Plans

SEC Form 11-K Annual Report of Employee Stock Purchase, Savings or Similar Plans SS-4 Application for Employer Identification Number

W-2 Wage and Tax Statement W-3 Transmittal of Wage and Tax Statement

W-4P Withholding Certificate for Pension or Annuity Payments W-4S Request for Federal Income Tax Withholding From Sick Pay

941 Employer’s Quarterly Federal Tax Return 945 Annual Return of Withheld Federal Income Tax

945-A Annual Record of Federal Tax Liability 990 Return of Organization Exempt From Income Tax

1024 Application for Recognition of Exemption Under Section 501(a) of the 

Internal Revenue Code

1096 Annual Summary and Transmittal of U.S. Information Returns

1099-R Statement of Recipients of Distributions From Pensions, Annuities, 

Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

4419 Application for Filing Information Returns Electronically

4461 Application for IRS Approval of Master or Prototype or Volume Submitter 

Defined Contribution Plan

4461-A Application for IRS Approval of Master or Prototype or Volume Submitter 

Defined Benefit Plan

4804 Transmittal of Information Returns Reported Magnetically/Electronically 4972 Tax on Lump Sum Distributions

5300 Application for IRS Determination for Employee Benefit Plan 5305 Individual Retirement Trust Account Under Section 408(a) of the Internal 

Revenue Code

5305-A Traditional Individual Retirement Custodial Account Under Section 408 

(a) of the Internal Revenue Code

5305-SEP Simplified Employee Pension Plan Individual Retirement Accounts 

Contribution Agreement

5306 Application for IRS Approval of Prototype or Employer-Sponsored 

Individual Retirement Account

5307 Short Form Application for IRS Determination for Adopters of Master or 

Prototype or Volume Submitter Plans

5308 Request for Change in Plan and/or Trust Year 5309 Application for IRS Determination of Employee Stock Ownership Plan

5310 Application for IRS Determination Upon Termination 5310-A Notice of Merger, or Consolidation, Spin-off, or Transfer of Plan Assets or 

Liabilities; QSLOB Notice

5329 Return for Additional Taxes Attributable to Qualified Plans (including IRAs) 5330 Return of Excise Taxes Related to Employee Benefit Plans (including failure 

to meet minimum funding requirements)

5498 Individual Retirement Arrangement Information 5500 Annual Return/Report of Employee Benefit Plan (Defined Benefit, Defined 

Contribution, Certain Welfare Plans and Certain Fringe Benefit Plans)

5500-SF Annual Return/Report of Small Employee Benefit Plan 5558 Application for Extension of Time to File Certain Employee Plan Returns

6088 Distributable Benefits From Employee Pension Benefit Plans 6559 Transmitter Report and Summary of Magnetic Media

8717 User Fee for Employee Plan Determination Letter Request 8718 User Fee for Exempt Organization Determination Letter Request

8955-SSA Annual Registration Statement Identifying Separated Participants With 

Deferred Vested Benefits
23 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Calendar of Administrative Requirements for Plans With January 1 Plan Years

Month Due Date Plan Type Done Item

January 15-Jan DB Payment of fourth quarterly contribution is due for 2010 plan year, if applicable

31-Jan DB/DC Form 1099-R due for distributions processed in 2010

31-Jan HW Form W-2 furnished to employees must include reporting for amounts received for dependent care assistance, group term 

life insurance, adoption assistance and HSAs in 2010

February 15-Feb DC Quarterly Periodic Benefit Statement for participant-directed account plans for 4th quarter of the 2010 plan year

28-Feb DB/DC Paper filing of Form 1099-R due to IRS (with Form 1096). Later due date if filing electronically (generally, must file 

electronically if at least 250 information returns)

28-Feb DB 2011 Estimated Premium Filing (for plans with 500 or more participants)

March 31-Mar DB/DC Electronic filing of Form 1099-R due to IRS (generally, must file electronically if at least 250 information returns)

31-Mar HW First quarter mandatory Medicare Secondary Payer (MSP) reporting due to Centers for Medicare and Medicaid Services 

(CMS)

April 1-Apr DB/DC Initial minimum distributions to commence for participants who have reached their required beginning date (i.e., following 

attainment of age 701⁄2 or retirement, as specified in plan)

15-Apr DB Payment of first quarterly contribution is due for 2011 plan year, if applicable

30-Apr (Sat)* DB Annual Funding Notice (for plans with more than 100 participants)

30-Apr (Sat)* DB Notice of funding-based limitation on certain forms of distribution (101(j) Notice) due to participants and beneficiaries if the 

certified or deemed AFTAP is less than 80% (and Notice was not previously provided)

May 2--May DB 2010 Comprehensive Premium Filing due to PBGC (for plans with fewer than 100 participants)

15-May (Sun)* DC Quarterly Periodic Benefit Statement for participant-directed account plans for first quarter of the 2009 plan year

16-May HW 2010 Form 990 due to IRS for Voluntary Employees’ Beneficiary Associations (VEBA)

June 30-Jun HW Second quarter mandatory MSP reporting to CMS

July 15-Jul DB Payment of second quarterly contribution is due for the 2010 plan year, if applicable

August 1-Aug DB/DC/HW 2010 IRS Form 5500 must be filed. A 21⁄2-month extension is available if Form 5558 is filed

1-Aug DB/DC Terminated vested employees reported on the 2009 and 2010 Form 8955-SSA should receive a notice describing the 

amount of vested benefit. This due date is extended by any Form 5500 extension

1-Aug DB/DC Plan audit is required if there are more than 100 participants in plan. Audit is required for plans with fewer than 100 

participants if less than 95% of plan assets are considered “qualifying assets” (invested in common vehicles)

1-Aug DB Annual Funding Notice for 2010 plan year (for plans with 100 or fewer participants on each day of the 2010 plan year). This 

due date is extended by any Form 5500 extension.

1-Aug DC Annual Periodic Benefit Statement for non-participant-directed account plans due for 2010 plan year. This due date is 

extended by any Form 5500 extension.

14-Aug (Sun)* DC Quarterly Periodic Benefit Statement for participant-directed account plans for second quarter of the 2011 plan year

September 15-Sep DB Payment of any remaining 2010 plan year contributions must be made, if applicable

30-Sep DC/HW 2010 Summary Annual Report (SAR) due to plan participants and beneficiaries. If the plan received an extension for the 

Form 5500, SAR is due 2 months after the Form 5500 due date

30-Sep HW Third quarter mandatory MSP reporting to CMS

October 3-Oct HW Apply for retiree prescription drug subsidy with CMS (30-day extension available)

15-Oct (Sat)* DB Payment of third quarterly contribution is due for the 2011 plan year, if applicable

17-Oct DB 2011 Comprehensive Premium Filing is due to PBGC (for plans with 100 or more participants)

17-Oct DB/DC/HW Extended due date for 2010 Form 5500
24 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Month Due Date Plan Type Done Item

17-Oct DB Extended due date for Annual Funding Notice for 2010 plan year (for plans with 100 or fewer participants on each day of the 

2010 plan year)

17-Oct DC Extended due date for Annual Periodic Benefit Statement for non-participant-directed account plans

30-Oct (Sun)* DB Notice of funding-based limitation on certain forms of distribution (101(j) Notice) due to participants and beneficiaries if the 

certified or deemed AFTAP is less than 80% (and Notice was not previously provided).

November 14-Nov DC Quarterly Periodic Benefit Statement for participant-directed account plans for the third quarter of the 2011 plan year

15-Nov HW Part D creditable coverage notice due to Medicare Part D-eligible individuals

December 2-Dec DC 401(k)(m) Safe Harbor Notice furnished to participants at least 30 days but no more than 90 days before the beginning of 

the plan year, describing their rights and obligations under the plan

2-Dec DC Notice of Qualified Default Investments furnished to participants within a reasonable period before the beginning of each 

plan year (30-90 days), describing how contributions and earnings are invested absent an investment election.

2-Dec DC Notice of Automatic Contribution Arrangement furnished to participants within a reasonable period before the beginning of 

each plan year (30-90 days) (or eligibility for enrollment for new hires), describing automatic enrollment and contributions 

made if the employee has not affirmatively elected otherwise

15-Dec DC/HW Extended due date for 2010 Summary Annual Report

31-Dec (Sat)* DB Annual Periodic Benefit Statement alternative notice requirement explaining the availability of a benefit statement and how to 

obtain

31-Dec (Sat)* HW Fourth quarter mandatory MSP reporting to CMS

*Indicates no policy extending the due date to the following business day if the due date falls on a weekend or holiday

Calendar of Administrative Requirements for Plans With July 1 Plan Years

Month Due Date Plan Type Done Item

January 15-Jan DB Payment of second quarterly contribution is due for the plan year, if applicable

31-Jan HW Form W2 furnished to employees must include reporting for amounts received for dependent care assistance, group term life 

insurance, adoption assistance and HSAs in 2010

31-Jan DB/DC Form 1099-R due for distributions processed in 2010

31-Jan DB/DC/HW 2009 IRS Form 5500 must be filed. A 21⁄2-month extension is available if Form 5558 is filed

31-Jan DB/DC Terminated vested employees reported on the 2009 SSA should receive a notice describing the amount of vested benefit. 

This due date is extended by any Form 5500 extension. (The IRS has deferred reporting until 2012)

31-Jan DB/DC Plan audit is required if there are more than 100 plan participants. Audit is required for plans with fewer than 100 

participants if less than 95% of plan assets are considered “qualifying assets” (invested in common vehicles)

31-Jan DC Annual Periodic Benefit Statement for non-participant-directed account plans due for 2009 plan year. This due date is 

extended by any Form 5500 extension

February 14-Feb DC Quarterly Periodic Benefit Statement for participant-directed account plans for second quarter of the 2010 plan year

28-Feb DB/DC Paper filing of Form 1099-R due to IRS (with Form 1096). Later due date if filing electronically (generally must file if at least 

250 information returns)

March 15-Mar DB Payment of any remaining 2009 plan year contributions must be made, if applicable

31-Mar DB/DC/HW 2009 Summary Annual Report (SAR) due to plan participants and beneficiaries. If the plan received an extension for the Form 

5500, then the SAR is due two months after the Form 5500 due date

31-Mar HW First quarter mandatory Medicare Secondary Payer (MSP) reporting due to Centers for Medicare and Medicaid Services (CMS)

31-Mar DB/DC Electronic filing of Form 1099-R due to IRS (generally, must file electronically if at least 250 information returns)
25 2011 Expanded Reporting and Disclosure Requirements Calendar [ BACK TO TABLE OF CONTENTS ]

Month Due Date Plan Type Done Item

April 1-Apr DB/DC Initial minimum distributions to commence for participants who have reached their required beginning date (i.e., following 

attainment of age 701⁄2 or retirement, as specified in plan)

15-Apr DB Payment of third quarterly contribution is due for the 2010 plan year, if applicable

15-Apr DB 2010 Comprehensive Premium Filing is due to the PBGC (for plans with 100 or more participants)

15-Apr DB/DC/HW Extended 2009 Form 5500 is due

15-Apr DC Extended Annual Periodic Benefit Statement for non-participant-directed account plans due for 2009 plan year

30-Apr (Sat)* DB Notice of funding-based limitation on certain forms of distribution (101(j) Notice) due to participants and beneficiaries if the 

certified or deemed AFTAP is less than 80% (and Notice was not previously provided)

May 15-May (Sun)* DC Quarterly Periodic Benefit Statement for participant-directed account plans for the third quarter of the 2009 plan year

June 1-Jun DC 401(k)/(m) Safe Harbor Notice furnished to participants at least 30 days but no more than 90 days before the beginning of 

the plan year, describing their rights and obligations under the plan

1-Jun DC Notice of Qualified Default Investments furnished to participants within a reasonable period before the beginning of each plan 

year (30-90 days), describing how contributions and earnings are invested absent an investment election

1-Jun DC Notice of Automatic Contribution Arrangement furnished to participants within a reasonable period before the beginning of 

each plan year (30-90 days) (or eligibility for enrollment for new hires), describing the automatic enrollment and contributions 

made if the employee has not affirmatively elected otherwise

15-Jun DB/DC/HW Extended 2009 Summary Annual Report is due

30-Jun DB Annual Periodic Benefit Statement alternative notice requirement explaining the availability of a benefit statement and how 

to obtain

30-Jun HW Second quarter mandatory MSP reporting to CMS

July 15-Jul DB Payment of fourth quarterly contribution is due for 2010 plan year, if applicable

August 13-Aug DC Quarterly Periodic Benefit Statement for participant-directed account plans for the fourth quarter of the 2010 plan year

31-Aug DB 2011 Estimated Premium Filing (for plans with 500 or more participants)

September 30-Sep HW Third quarter MSP mandatory reporting to CMS

October 1-Oct HW Apply for retiree prescription drug subsidy with CMS (30-day extension available)

15-Oct DB Payment of first quarterly contribution is due for 2011 plan year, if applicable

29-Oct DB Annual funding notice (for plans with more than 100 participants)

November 1-Nov DB 2010 Comprehensive Premium Filing is due to the PBGC (for plans with fewer than 100 participants)

12-Nov DC Quarterly Periodic Benefit Statement for participant-directed account plans for the first quarter of the 2010 plan year

12-Nov HW Part D creditable coverage notice due to Medicare Part D-eligible individuals

15-Nov HW 2010 Form 990 due to IRS for Voluntary Employees’ Beneficiary Association (VEBA)

December 31-Dec HW Fourth quarter mandatory MSP reporting to CMS
U.S. Chamber of Commerce

April 20, 2011

Pension Benefit Guaranty Corporation

1200 K St NW

Washington, DC 20005-4026

Re: Reducing Regulatory Burden; Review Under E.O. 13563; 76 Fed. Reg. 18134

(April 1, 2011)

Dear Sir or Madam:

On behalf of the U.S. Chamber of Commerce, we submit this letter to the Pension

Benefit Guaranty Corporation (PBGC) in response to a request for comments on PBGC

regulations pursuant to Executive Order 13563.

The U.S. Chamber of Commerce is the world's largest business federation, representing

more than three million businesses and organizations of every size, sector, and region. Besides

representing a cross-section of the American business community in terms of number of

employees, the Chamber represents a wide management spectrum by type of business and

location. Each major classification of American business -- manufacturing, retailing, services,

construction, wholesaling, and finance – is represented. Also, the Chamber has substantial

membership in all 50 states. Positions on national issues are developed by a cross-section of

Chamber members serving on committees, subcommittees, and task forces. More than 1,000

business people participate in this process.

Executive Order 13563 and the PBGC’s Request

E.O. 13563 expresses the President’s views on how regulations should be promulgated

and what procedures agencies should follow in seeking input and justifying their regulations. It

builds on, and largely replicates E.O. 12866 issued by President Clinton. Section 6 of E.O.

13563 specifies that agencies are to “consider how best to promote retrospective analys[es] of

rules that may be outmoded, ineffective, insufficient, or excessively burdensome, and to modify,

streamline, expand, or repeal them in accordance with what has been learned,” and that within

120 days of January 18, 2011 agencies are to submit plans on how they will conduct these

analyses.

We appreciate the efforts of the PBGC in reaching out to interested parties for input on

the retrospective review; however, we are concerned about the timing of the comment period.

On April 1, 2011 the PBGC published a notice in the Federal Register to initiate the

retrospective reviews called for in the executive order. The deadline to respond to the request is

April 20 - less than a month for interested parties to develop submissions. This compressed time
2

frame has limited our ability to identify regulations that may deserve attention. As such, we

encourage the PBGC to make this an on-going dialogue and to notify the public that it will

continue to accept additional recommendation as we continue to review the agency’s regulations.

Suggested Regulations for Retrospective Analysis

The Chamber’s submissions below highlight regulations which we believe fall within the

scope of Section 6 of E.O. 13563. Accordingly, we hope these regulations will be part of the

PBGC’s retrospective analysis and will ultimately be modified or repealed.

Alternative Premium Funding Target Election

As you are aware, PBGC’s regulations allow a plan to calculate its variable-rate premium

(VRP) for plan years beginning after 2007, using a method that is simpler and less burdensome

than the “standard” method currently prescribed by statute. Use of this alternative premium

funding target (APFT) was particularly advantageous in 2009 because related pension funding

relief provided by the Internal Revenue Service served for many plans to eliminate or

significantly reduce VRP liability under the APFT method. However, in both 2008 and 2009

PBGC determined that hundreds of plan administrators failed to correctly and timely elect the

AFPT in their comprehensive premium filing to the PBGC, with the failures due primarily to

clerical errors in filing out the form or administrative delays in meeting the deadline.

In June of 2010, the PBGC responded to the concerns of plan sponsors by issuing

Technical Update 10-2 which provides relief to certain plan sponsors who incorrectly filed. We

appreciate the PBGC’s attention to this matter and its flexibility in responding to this situation.

However, we are concerned that the relief provided does not capture all clerical errors or

administrative errors that may have occurred and, therefore, some plan sponsors remain unfairly

subject to what are substantial and entirely inappropriate penalties. In this situation, we note

that PBGC has been interpreting and applying its regulations such that a late or otherwise

improper election of the APFT, rather than resulting in a proportionate penalty such as 1% or 5%

of the premium amount due, results in a recalculation of the premium amount due and thus can

trigger a liability that dwarfs the premium that would be due using the APFT.

Technical Update 10-2 provides relief to certain plan sponsors that failed to check Box 5

but still filed on time in full accordance with all e-filing instructions. However, other clerical

errors were made or administrative delays occurred, for which there is no relief. For example,

we are aware of a plan sponsor who thought he had submitted the filing with a valid and timely

election, but did not realize there was an additional keystroke required to finish the submission.

We believe that errors such as these also deserve relief. As such, we recommend revising

ERISA regulation 4006.5(g) to take into consideration such errors or delays.

Specifically, we believe that the rules established under the current regulation and the

Technical Update should be considered a safe harbor. The regulation should be revised to state

that if the safe harbor is not met, the PBGC will still allow use of the APFT if the filer can

demonstrate, through appropriate documentation to the satisfaction of the PBGC, that a decision

to use the APFT had been made on or before the VRP filing deadline. Proof of such a decision

could be established, for example, by correspondence between the filer and the plan’s enrolled

actuary making it clear that, on or before the VRP filing deadline, the filer had opted for the
3

APFT. It is important that this regulatory change be made on a retroactive basis, so as to

provide needed relief to filers for all post-PPA plan years.

Reportable Events

In January 2010, the Chamber submitted comments to the PBGC on a proposed rule

concerning reportable events. The Chamber’s comments focused on the need for balance

between enhanced oversight by the PBGC and the potential burdens on employers. In several

instances, we believe that the benefits imposed upon plan sponsors will not provide an equivalent

benefit to the PBGC. For example, the proposal eliminates most of the automatic waivers and

extensions that currently exist. Therefore, the Chamber urges the PBGC to enter in a negotiated

rulemaking process and should allow waivers and extensions to be retained in specific occasions.

We remain concerned about these intended changes but feel that it is necessary to stress

here that the current regulation is already burdensome on plan sponsors. To fulfill the

requirements of this regulation, plan sponsors must expend considerable administrative

resources. In order to determine whether they are subject to the rules, plan sponsors must

monitor and track all corporate activities. In addition, where the regulation requires, they must

submit reports on these transactions. These administrative burdens are meaningful and, thus, we

recommend a review of this regulation to determine if the requirements can be streamlined or

made more efficient.

For example, PBGC should consider expanding the circumstances in which a reportable

event filing can be deferred and combined with a report that will otherwise be required, such as a

PBGC premium filing or a Form 5500 filing. In addition, relief from reporting active participant

reductions, which can necessitate daily rather than annual monitoring of active participant

counts, should be provided for frozen plans. In a frozen plan, such reductions tend not to be

indicative of any problems but, rather, often occur simply because no new active participants can

enter the plan and, thus, the count can only go down, regardless of the employer’s overall

employment levels.

Reporting of and Liability for Certain Substantial Cessations of Operations

Last August, the PBGC published a proposed rule on ERISA section 4062(e), which

provides for reporting of and liability for certain substantial cessations of operations by

employers that maintain single-employer plans. The proposed rule would provide guidance on

whether and when a “section 4062(e) event” occurs, describe the liability that arises and how the

liability is satisfied, prescribe recordkeeping requirements, and provide for waivers in

appropriate circumstances.

The Chamber submitted comments in response to the proposed rule arguing that the

PBGC overstepped the intent of the statute which is to ensure that financially troubled entities set

aside money to pay promised benefits and do not increase the financial burdens on the PBGC.

Furthermore, we expressed concern that the proposed rules do not take into account the entirety

of all circumstances but, rather, focus on particular incidents in isolation. As such, the proposed

rule would have the effect of creating greater financial instability for plan sponsors. Thus, we

again urge the agency the PBGC to reconsider these rules in a comprehensive context that takes

into consideration the best outcomes for the PBGC, participants, and plan sponsors combined.
4

Conclusion

The Chamber hopes the PBGC takes the opportunity to conduct a thoughtful and detailed

review of the wide array of regulations under its jurisdiction that affect employers. In addition,

we reiterate our request that PBGC inform the public that this will be an on-going process that

will allow for further input from interested parties as we continue to review the regulations. If

done properly, with the goal of rooting out outmoded and ineffective regulations, this could yield

significant benefits.

Sincerely,

Randy K. Johnson Aliya Wong

Vice President Director of Pension Policy

Labor, Immigration & Employee Labor, Immigration & Employee

Benefits Benefits

U.S. Chamber of Commerce U.S. Chamber of Commerce
 

 

One Alliance Center 

3500 Lenox Road, Suite 900 

Atlanta, GA 30326-4238 

T +1 404 365 1600 

towerswatson.com 

April 20, 2011 

Pension Benefit Guaranty Corporation 

reg.comments@pbgc.gov 

Regulatory review under E.O. 13563 - Employee Plans regulations 

Dear Sir or Madam: 

This letter is the response of Towers Watson to PBGC’s request for comments on reducing 

regulatory burdens under E.O .13563. Towers Watson is a global human capital and financial 

management consulting firm specializing in employee benefits, human capital strategies, and 

technology solutions. Established on January 1, 2010 as a combination of the former Watson 

Wyatt and Towers Perrin, Towers Watson employs approximately 14,000 associates on a 

worldwide basis. Our more than 600 Enrolled Actuaries under ERISA provide actuarial and 

consulting services to more than 1,700 defined benefit plans in the U.S. The undersigned have 

prepared our company’s response with input from others in the company. 

We believe that the regulatory burden on sponsors of defined benefit plans is quite substantial, 

and in our experience is a significantly negative contributing factor in decisions on whether to 

sponsor a defined benefit plan. The preservation of the defined benefit system is critical to the 

financial security of millions of Americans, and expansion of the system could enhance the 

security of millions more. This in turn would improve the finances of PBGC and ease the 

financial stress on other government programs. In reviewing your regulations we urge that you 

adopt a goal of preserving and enhancing the system rather than providing more reasons for 

employers to exit. To that end we make the following high level suggestions: 

4010 Reporting – 4010 reporting involves significant expense for a plan sponsor. While we 

appreciate the PBGC’s need for information about the health of the plan sponsor or the plan in 

many situations, we believe the PBGC needs to balance the incremental value of that specific 

information against the cost to a plan sponsor of providing it. To that end we have the following 

suggestions: 

o We believe that the calculation of benefit obligations for 4010 purposes is an expensive 

and wasteful exercise. We believe that PBGC can garner sufficient information about the 

plan’s funded status (and its funded status assuming less favorable demographic 

experience) via a combination of benefit liability amounts already being calculated for 

other purposes (i.e., at risk liability – ignoring phase-ins – which most plans subject to 

4010 reporting will already be calculating, and the year-end obligations calculated for 

annual funding notice purposes). 

Towers Watson Pennsylvania Inc., a Towers Watson company 
PBGC 

April 20, 2011 

Page 2 

EO 13563 Comment Letter Towers Watson Page 2 of 4 

o We strongly believe that 4010 reporting should not be triggered by an event which is not 

evidence in any way of weakened financial condition of the plan or plan sponsor. The 

enactment of the Pension Protection Act (PPA) has led to situations in which 4010 filing 

is triggered by situations in which contributions would not, pre-PPA, have been treated 

as late. We believe that PBGC should revise its regulations so that such situations do 

not trigger 4010 reporting. Specifically: 

o We believe that any event that involves late completion of paperwork, rather than 

a late contribution, should not trigger 4010 reporting (i.e., a situation where a plan 

sponsor who fully intends to, and does, apply funding balance to satisfy quarterly 

contribution requirements simply does so late - i.e., after the quarterly due date). 

o To accommodate situations where a subsequent event causes a quarterly to be 

late (e.g., in situations in which a subsequent forfeiture of funding balance 

invalidates an earlier election to apply funding balance to meet quarterly 

requirements) we believe that the “plan sponsor knows or has reason to know” 

standard that applies for reportable events involving missed contributions (under 

$1 million) should also apply for purposes of determining whether a missed 

contribution of at least $1 million triggers a required 4010 filing. For example, in 

situations in which a subsequent forfeiture of funding balance invalidates an 

earlier election to apply funding balance to meet quarterly requirements, as long 

as the contribution is made within 10 days after the plan sponsor knows or has 

reason to know the funding balance has been forfeited the 4010 filing 

requirement should not be treated as triggered. 

o Many transactions occur on the last day of an Information Year, and can result in a 

controlled group acquiring plans that are less than 80% funded, triggering 4010 reporting 

for the entire controlled group, even though the plan involved may be small and the 

acquiring employer had no opportunity to contribute to the plan and bring it to 80% 

funded. While PBGC Blue Book Q&As make clear that if the transaction documentation 

is properly worded this might be avoided, we see no reason why the failure to include 

“stroke of midnight” language in documentation of a transaction should trigger this result. 

In fact, for smaller plans acquired after September 15th (so that the acquiring controlled 

group has no opportunity to fund the plan to 80% at the prior valuation date), 4010 

reporting should not be triggered for that Information Year. 

Reportable Events – Towers Watson submitted comments on the proposed reportable events 

regulations, and we will not restate our comments here in any detail. However we would like to 

reiterate our main theme - that without significant revision (in the nature of retaining waivers of 

certain reportable events) the PBGC will be flooded with reportable events (e.g., involving 

elections that are a few days late to apply funding balance to satisfy relatively small quarterly 

required contributions in relatively well funded plans), wasting both PBGC’s and plan sponsors’ 

time, making it harder for PBGC to identify the reportable events of true concern, and removing 

one more incentive for plan sponsors to keep their plans well funded. 
PBGC 

April 20, 2011 

Page 3 

EO 13563 Comment Letter Towers Watson Page 3 of 4 

ERISA 4062(e) – Towers Watson submitted comments on the proposed ERISA 4062(e) 

regulations, and we will not restate our comments here in any detail. However we would like to 

reiterate the main theme of our comments. We believe that the expansion of the standard for 

triggering IRC 4062(e) from “substantial cessation of operations” to “substantial cessation of an 

operation” goes well beyond the statute and sweeps in many very routine business changes 

that are not in any way indicative of an increased risk to PBGC, and in many cases are 

indicative of the strength of the company’s operations. This, combined with a formula for 

determining 4062(e) liability that in many situations bears no relationship to the change in the 

businesses that actually support the funding of the plan, leads to onerous reporting 

requirements and significant uncertainty around business transactions that we do not believe is 

warranted. We believe that the PBGC’s position that whether or not there is increased risk to 

PBGC is not relevant for purposes of the filing requirements (i.e., it is relevant only for purposes 

of any agreement PBGC might reach with the plan sponsor) is inappropriate and leaves plan 

sponsors with significant uncertainty hanging over routine transactions. We understand that 

PBGC cannot leave it to the plan sponsor to determine whether the PBGC’s risk has been 

increased, but more appropriate triggers for filing could be devised that better target events that 

actually are likely to increase PBGC’s risks. Without such more targeted triggers, defined 

benefit plans will become less appealing to many types of plan sponsors who responsibly fund 

their plans but who might nevertheless become subject to 4062(e) liability as a result of routine 

changes in business operations. 

Customer Focus – We recommend that PBGC continue to focus on “customer service”. In 

general we have found PBGC to be responsive to questions and concerns raised by the 

regulated community, and to take reasonable approaches when misunderstandings occur or 

unusual situations present themselves. An example is the “Box 5 issue” in which PBGC 

ultimately accepted the validity of Alternative Method elections if the intent to elect was clear but 

the execution of that election was incomplete. However, it took substantial time and, apparently, 

involvement from those outside the employer community to get PBGC to change their initial 

position and to honor the obvious intent of the filings. 

We believe that the changes that PBGC is making to add error-checking functionality to the 

MyPAA interface will be very helpful in reducing inadvertent errors; however we know that these 

improvements will not eliminate all errors, and that many filers use software which bypasses the 

interface (and thus some or all of the error checking). Accordingly, we encourage PBGC to 

continue to try to educate the community about any changes in filing requirements, and to show 

flexibility when new regulations or other changes affect filing requirements. While it might be 

argued that the community should be aware of such changes when they occur, the reality is that 

PBGC premium filings are a very small part of the typical plan sponsor or practitioner’s job and it 

will usually take time before knowledge of new requirements becomes widespread. 

More broadly, we want to encourage PBGC to work to build strong relationships with its plan 

sponsor stakeholders to achieve our shared goals of a strong system of employer sponsored 

pension programs, and Towers Watson stands ready to participate in that effort. 
PBGC 

April 20, 2011 

Page 4 

EO 13563 Comment Letter Towers Watson Page 4 of 4 

We appreciate the opportunity to comment and would be happy to meet with you if you would 

like to discuss any of our comments further. 

Sincerely, 

Maria M. Sarli, FSA, EA Michael F. Pollack, FSA, EA 

U.S. Retirement Resource Actuary Senior Consultant 

 North America Retirement Actuarial Leadership 

(404) 365-1708 (203) 326-5469 

 maria.sarli@towerswatson.com mike.pollack@towerswatson.com 

 
Response to Request for Information on

Reducing the Regulatory Burden

April 20, 2011

Pension Benefit Guaranty Corporation

Review Under E.O. 13563

The American Society of Pension Professionals & Actuaries (ASPPA) and the ASPPA 

College of Pension Actuaries appreciate this opportunity to comment on possible 

modifications to Pension Benefit Guaranty Corporation (PBGC) regulations and 

technology that would make PBGC’s regulatory program more efficient and less 

burdensome.

ASPPA is a national organization of more than 7,500 retirement plan professionals who 

provide consulting and administrative services for qualified retirement plans covering 

millions of American workers. ASPPA members are retirement professionals of all 

disciplines, including consultants, investment professionals, administrators, actuaries, 

accountants and attorneys. Our large and broad-based membership gives ASPPA unique 

insight into current practical applications of ERISA and qualified retirement plans, with a 

particular focus on the issues faced by small- to medium-sized employers. ASPPA’s 

membership is diverse but united by a common dedication to the employer-based

retirement plan system. All credentialed actuarial members of ASPPA are members of 

the ASPPA College of Pension Actuaries (ACOPA), which has primary responsibility for 

the content of comment letters that involve actuarial issues.

Summary

Thank you for the opportunity to provide written comments for consideration in your 

review of current regulations. ASPPA and ACOPA value our partnership with PBGC in 

the stewardship of defined benefit retirement plans. As practitioners for small plans 

(generally defined as those having fewer than 100 employees), we offer the following

observations and recommendations:

I. Reporting Exemptions - ASPPA and ACOPA recommend that the existing 

exemptions from reporting requirements for small and well-funded plans be expanded

and similar exemptions extended to reporting under ERISA Sections 4062(e) and 

4063(a).

II. Premium Filing Deadline for Small Plans with End of Year Valuation Dates -

ASPPA and ACOPA recommend that the sponsor of a plan with an end of year 

valuation date should be permitted to have an enrolled actuary certify the plan is well-
2

funded, and therefore has no Variable Rate Premium, in order to meet the April 30th

filing deadline.

III. My PAA Website Functionality - ASPPA and ACOPA recommend that the

functionality of the PBGC’s website, My PAA, should be reviewed and certain 

documents made more easily available in order to facilitate payment of premiums and 

penalty charges.

IV. Customer Service - ASPPA and ACOPA note that quality customer service is 

critical to regulatory efficiency and the PBGC excels in this area.

Discussion

I. Reporting Exemptions

For the reasons detailed in our letters of January 22, 2010 regarding proposed 

modifications to regulations relating to ERISA Section 4043, and October 12, 2010 

regarding proposed modifications to regulations under ERISA Section 4062(e), ASPPA 

and ACOPA support the existing reporting exemptions for small and well-funded plans

under ERISA Section 4043 and recommend that similar exemptions be extended to 

reporting requirements under ERISA Sections 4062(e) and 4063(a). Many plan sponsors 

and administrators find the time savings due to the reportable events waivers is 

significant and these waivers allow the PBGC to focus its resources on plans that pose 

significant financial risks. 

A. Notice for Missed Quarterly Contributions

ASPPA and ACOPA appreciate the relief provided in Technical Update 10-4. 

This relief is available in 2011 until such time as the final revised reportable event 

regulations are issued. Given the recent decision to re-propose those regulations, 

ASPPA and ACOPA suggest that the relief be extended to all years after 2011. 

Practitioners should not have to be concerned that the rules will change for the 

worse in 2012, or any future year, until revised final regulations are imminent. In 

lieu of extending the current relief, ASPPA and ACOPA recommend PBGC 

expand the relief and require no reporting of missed quarterly contributions for 

small plans unless the plan fails to meet the minimum funding requirements for 

the applicable plan year. In that event, the reporting due date would coincide with 

the due date for the Form 5500 filing for the plan year, not the current post-event 

notification requirements.

II. Premium Filing Deadline for Small Plans with End of Year Valuation Dates

The Pension Protection Act allowed small plans the flexibility to use end of year 

valuation dates, and the April 30th premium filing deadline for these plans (assuming a 

calendar year plan year) has likewise offered small plan sponsors the flexibility to 

continue to use end of year valuation dates. However, because many small calendar year 

plans do not have their actuarial valuation for the prior year completed by April 30th, 
3

meeting this deadline requires that the enrolled actuary get the files out and work on the 

plan twice – determining liability for vested benefits before April 30, then completing the 

rest of the work later in the year. This is inefficient, and adds to the cost of operating the 

plan. 

ASPPA and ACOPA have previously requested that the four month deadline be extended 

to allow additional time to complete the actuarial work and reporting required. As an 

alternative, ASPPA and ACOPA recommend that the enrolled actuary be permitted to 

certify that a plan is over 100% funded and that no Variable Rate Premium is due without 

providing detail on the variable rate premium calculation entries. The PBGC could 

require reporting of the detailed information within 60 days of a PBGC request for the 

information for the plan in question, or require all plans relying on the certification to 

submit detailed information no later than the due date for the Form 5500 filing. This 

option would allow well-funded small plans to operate more efficiently than under the 

current rule.

III. My PAA Website Functionality

Most of our members find that the PBGC filing process is intuitive and easy to 

understand from the third party administrator perspective. The ease of use is slightly 

more limited from the perspective of our plan sponsors who only visit My PAA once a 

year and forget how to sign their filings and complete payment.

ASPPA and ACOPA suggest the following areas for improvement:

The site navigation is slow and cumbersome. Since we do not know the internet 

provider and bandwidth of each ASPPA member, it is difficult to assess whether 

the issues are on the user side or if indeed, there is an issue with the My PAA site. 

Because we heard from multiple members, we offer the observation and would 

ask that the PBGC review whether there are technical issues on the site that may 

be improved.

Interest and penalty charges could be handled more efficiently. A clearer 

demonstration of late interest and penalty charges should be included in the 

account history, with facilitated payment of the penalties. If there are penalties 

that a plan sponsor would like to pay, the site should allow printing of a voucher 

for the late charges so that the plan sponsor can send payment by check, as well as 

an online payment mechanism.

The ability to print documents should be expanded. While some documents are 

available to print, others are not or are difficult to locate. For example, at any 

point in time after the form is electronically signed, it is difficult to locate a 

payment voucher. Many small plan sponsors pay by paper check, but do not 

follow the steps to print out the payment voucher immediately upon electronically 

signing their filing. Our members receive questions about the vouchers from plan 

sponsors and do not have access to the information. It would be more efficient if 

practitioners could print and forward the form to clients.
4

Website messages should be clear. The website gives warnings that are 

indistinguishable from error messages. Feedback should be prefaced by noting 

whether errors have been detected or whether notices are warnings.

Invitations should be shown as outstanding pending a response. When an 

invitation is sent to the plan sponsor for the authorization of premium payments, 

that invitation is not shown as outstanding. The invitation disappears until (and if) 

the client responds. 

IV. Customer Service

ASPPA and ACOPA note that customer service is a key component of the ease of 

compliance with any regulatory regime, and our members consistently report that 

excellent customer service is received when calls are placed to the PBGC. The level of 

training, attention to detail, and follow through clearly show up in the ability to speak 

with associates at the PBGC who can help us resolve our PBGC matters. In particular, 

our members praised the responsiveness and the easily understood solutions that the 

PBGC associates presented during calls. 

  

These comments were prepared by ASPPA’s Defined Benefit Subcommittee of the 

Government Affairs Committee and the ASPPA College of Pension Actuaries. Please 

contact Judy A. Miller, MSPA, Chief of Actuarial Issues at (703) 516-9300 if you have 

any comments or questions on the matters discussed above. 

Thank you for your consideration of these comments.

Sincerely,

/s/

Brian H. Graff, Esq., APM

Executive Director/CEO

/s/

Judy A. Miller, MSPA

Chief of Actuarial Issues

/s/

Craig P. Hoffman, Esq., APM

General Counsel

/s/

Mark Dunbar, MSPA, Co-Chair

Government Affairs Committee

/s/

Ilene H. Ferenczy, Esq., APM, Co-Chair

Government Affairs Committee

/s/

James Paul, Esq., APM, Co-Chair

Government Affairs Committee