§ 1025 TITLE 29—LABOR Page 376

1So in original. Comma probably should not appear.

tion 1023(d)(11) of this title) as is necessary to

fairly summarize the latest annual report.

(4) The administrator shall, upon written request of any participant or beneficiary, furnish

a copy of the latest updated summary,1 plan description, and the latest annual report, any terminal report, the bargaining agreement, trust

agreement, contract, or other instruments under

which the plan is established or operated. The

administrator may make a reasonable charge to

cover the cost of furnishing such complete copies. The Secretary may by regulation prescribe

the maximum amount which will constitute a

reasonable charge under the preceding sentence.

(c) Statement of rights

The Secretary may by regulation require that

the administrator of any employee benefit plan

furnish to each participant and to each beneficiary receiving benefits under the plan a statement of the rights of participants and beneficiaries under this subchapter.

(d) Cross references

For regulations respecting coordination of reports

to the Secretaries of Labor and the Treasury, see

section 1204 of this title.

(Pub. L. 93–406, title I, §104, Sept. 2, 1974, 88 Stat.

847; Pub. L. 99–272, title XI, §11016(b)(2), Apr. 7,

1986, 100 Stat. 273; Pub. L. 100–203, title IX,

§9342(a)(2), Dec. 22, 1987, 101 Stat. 1330–371; Pub.

L. 101–239, title VII, §7894(b)(3), (4), Dec. 19, 1989,

103 Stat. 2448; Pub. L. 104–191, title I, §101(c)(1),

Aug. 21, 1996, 110 Stat. 1951; Pub. L. 104–204, title

VI, §603(b)(3)(D), Sept. 26, 1996, 110 Stat. 2938;

Pub. L. 105–34, title XV, §1503(c)(1), (2)(A),

(d)(1)–(3), Aug. 5, 1997, 111 Stat. 1062.)

AMENDMENTS

1997—Subsec. (a)(1). Pub. L. 105–34, §1503(c)(1), amended par. (1) generally, substituting present provisions for

provisions requiring filing of annual report, plan description, summary plan description, as well as modifications and changes in plan descriptions.

Subsec. (a)(6). Pub. L. 105–34, §1503(c)(2)(A), added par.

(6).

Subsec. (b)(1). Pub. L. 105–34, §1503(d)(1), substituted

‘‘section 1022(a) of this title’’ for ‘‘section 1022(a)(1) of

this title’’ wherever appearing.

Subsec. (b)(2). Pub. L. 105–34, §1503(d)(2), substituted

‘‘the latest updated summary plan description and’’ for

‘‘the plan description and’’.

Subsec. (b)(4). Pub. L. 105–34, §1503(d)(3), struck out

‘‘plan description’’ before ‘‘, plan description, and the

latest annual report’’.

1996—Subsec. (b)(1). Pub. L. 104–204 made technical

amendment to references in original act which appear

in text as references to section 1191b of this title.

Pub. L. 104–191, in closing provisions, substituted

‘‘1022(a)(1) of this title (other than a material reduction

in covered services or benefits provided in the case of

a group health plan (as defined in section 1191b(a)(1) of

this title)),’’ for ‘‘1022(a)(1) of this title,’’ and inserted

at end ‘‘If there is a modification or change described

in section 1022(a)(1) of this title that is a material reduction in covered services or benefits provided under

a group health plan (as defined in section 1191b(a)(1) of

this title), a summary description of such modification

or change shall be furnished to participants and beneficiaries not later than 60 days after the date of the

adoption of the modification or change. In the alternative, the plan sponsors may provide such description

at regular intervals of not more than 90 days. The Secretary shall issue regulations within 180 days after August 21, 1996, providing alternative mechanisms to delivery by mail through which group health plans (as so

defined) may notify participants and beneficiaries of

material reductions in covered services or benefits.’’

1989—Subsec. (a)(5)(B). Pub. L. 101–239, §7894(b)(3),

substituted a comma for period at end.

Subsec. (b)(1). Pub. L. 101–239, §7894(b)(4), struck out

comma after ‘‘summary’’.

1987—Subsec. (b)(3). Pub. L. 100–203 inserted ‘‘(including the percentage determined under section 1023(d)(11)

of this title)’’ after ‘‘material’’.

1986—Subsec. (a)(2)(A). Pub. L. 99–272 struck out provision permitting the Secretary to waive or modify the

requirements of section 1023(d)(6) of this title if he

found that the interests of the plan participants were

not harmed and the expense of compliance was not justified by the needs of the participants, the Pension

Benefit Guaranty Corporation, and the Department of

Labor for some portion or all of the information otherwise required under section 1023(d)(6) of this title.

EFFECTIVE DATE OF 1996 AMENDMENTS

Amendment by Pub. L. 104–204 applicable with respect to group health plans for plan years beginning on

or after Jan. 1, 1998, see section 603(c) of Pub. L. 104–204

set out as a note under section 1003 of this title.

Amendment by Pub. L. 104–191 applicable with respect to group health plans for plan years beginning

after June 30, 1997, except as otherwise provided, see

section 101(g) of Pub. L. 104–191, set out as an Effective

Date note under section 1181 of this title.

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101–239 effective, except as

otherwise provided, as if originally included in the provision of the Employee Retirement Income Security

Act of 1974, Pub. L. 93–406, to which such amendment

relates, see section 7894(i) of Pub. L. 101–239, set out as

a note under section 1002 of this title.

EFFECTIVE DATE OF 1987 AMENDMENT

Amendment by Pub. L. 100–203 applicable with respect to reports required to be filed after Dec. 31, 1987,

see section 9342(d)(1) of Pub. L. 100–203, set out as a note

under section 1132 of this title.

EFFECTIVE DATE OF 1986 AMENDMENT

Amendment by Pub. L. 99–272 effective Jan. 1, 1986,

with certain exceptions, see section 11019 of Pub. L.

99–272, set out as a note under section 1341 of this title.

REGULATIONS

Secretary authorized, effective Sept. 2, 1974, to promulgate regulations wherever provisions of this subchapter call for the promulgation of regulations, see

section 1031 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1021, 1022, 1023,

1027, 1029, 1132, 1185 of this title; title 31 section 9503.

§ 1025. Reporting of participant’s benefit rights

(a) Statement furnished by administrator to participants and beneficiaries

Each administrator of an employee pension

benefit plan shall furnish to any plan participant or beneficiary who so requests in writing, a

statement indicating, on the basis of the latest

available information—

(1) the total benefits accrued, and

(2) the nonforfeitable pension benefits, if

any, which have accrued, or the earliest date

on which benefits will become nonforfeitable.

(b) One-per-year limit on reports

In no case shall a participant or beneficiary be

entitled under this section to receive more than
Page 377 TITLE 29—LABOR § 1027

one report described in subsection (a) of this section during any one 12-month period.

(c) Individual statement furnished by administrator to participants setting forth information in administrator’s Internal Revenue registration statement and notification of forfeitable benefits

Each administrator required to register under

section 6057 of title 26 shall, before the expiration of the time prescribed for such registration,

furnish to each participant described in subsection (a)(2)(C) of such section, an individual

statement setting forth the information with respect to such participant required to be contained in the registration statement required by

section 6057(a)(2) of title 26. Such statement

shall also include a notice to the participant of

any benefits which are forfeitable if the participant dies before a certain date.

(d) Plans to which more than one unaffiliated

employer is required to contribute; regulations

Subsection (a) of this section shall apply to a

plan to which more than one unaffiliated employer is required to contribute only to the extent provided in regulations prescribed by the

Secretary in coordination with the Secretary of

the Treasury.

(Pub. L. 93–406, title I, §105, Sept. 2, 1974, 88 Stat.

849; Pub. L. 98–397, title I, §106, Aug. 23, 1984, 98

Stat. 1436; Pub. L. 101–239, title VII, §§7891(a)(1),

7894(b)(5), Dec. 19, 1989, 103 Stat. 2445, 2448.)

AMENDMENTS

1989—Subsec. (b). Pub. L. 101–239, §7894(b)(5), substituted ‘‘12-month’’ for ‘‘12 month’’.

Subsec. (c). Pub. L. 101–239, §7891(a)(1), substituted

‘‘Internal Revenue Code of 1986’’ for ‘‘Internal Revenue

Code of 1954’’, which for purposes of codification was

translated as ‘‘title 26’’ thus requiring no change in

text.

1984—Subsec. (c). Pub. L. 98–397 inserted at end ‘‘Such

statement shall also include a notice to the participant

of any benefits which are forfeitable if the participant

dies before a certain date.’’

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by section 7891(a)(1) of Pub. L. 101–239 effective, except as otherwise provided, as if included in

the provision of the Tax Reform Act of 1986, Pub. L.

99–514, to which such amendment relates, see section

7891(f) of Pub. L. 101–239, set out as a note under section

1002 of this title.

Amendment by section 7894(b)(5) of Pub. L. 101–239 effective, except as otherwise provided, as if originally

included in the provision of the Employee Retirement

Income Security Act of 1974, Pub. L. 93–406, to which

such amendment relates, see section 7894(i) of Pub. L.

101–239, set out as a note under section 1002 of this title.

EFFECTIVE DATE OF 1984 AMENDMENT

Amendment by Pub. L. 98–397 applicable to plan years

beginning after Dec. 31, 1984, except as otherwise provided, see sections 302 and 303 of Pub. L. 98–397, set out

as a note under section 1001 of this title.

REGULATIONS

Secretary of Labor authorized, effective Sept. 2, 1974,

to promulgate regulations wherever provisions of this

subchapter call for the promulgation of regulations by

him, see section 1031 of this title.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1021, 1026, 1132

of this title.

§ 1026. Reports made public information

(a) Except as provided in subsection (b) of this

section, the contents of the annual reports,

statements, and other documents filed with the

Secretary pursuant to this part shall be public

information and the Secretary shall make any

such information and data available for inspection in the public document room of the Department of Labor. The Secretary may use the information and data for statistical and research

purposes, and compile and publish such studies,

analyses, reports, and surveys based thereon as

he may deem appropriate.

(b) Information described in sections 1025(a)

and 1025(c) of this title with respect to a participant may be disclosed only to the extent that

information respecting that participant’s benefits under title II of the Social Security Act [42

U.S.C. 401 et seq.] may be disclosed under such

Act.

(Pub. L. 93–406, title I, §106, Sept. 2, 1974, 88 Stat.

850; Pub. L. 101–239, title VII, §7894(b)(6), Dec. 19,

1989, 103 Stat. 2448; Pub. L. 105–34, title XV,

§1503(d)(4), Aug. 5, 1997, 111 Stat. 1062.)

REFERENCES IN TEXT

The Social Security Act, referred to in subsec. (b), is

act Aug. 14, 1935, ch. 531, 49 Stat. 620, as amended. Title

II of the Social Security Act is classified generally to

subchapter II (§401 et seq.) of chapter 7 of Title 42, The

Public Health and Welfare. For complete classification

of this Act to the Code, see section 1305 of Title 42 and

Tables.

AMENDMENTS

1997—Subsec. (a). Pub. L. 105–34 struck out ‘‘descriptions,’’ before ‘‘annual reports,’’.

1989—Subsec. (b). Pub. L. 101–239 substituted ‘‘sections’’ for ‘‘section’’.

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101–239 effective, except as

otherwise provided, as if originally included in the provision of the Employee Retirement Income Security

Act of 1974, Pub. L. 93–406, to which such amendment

relates, see section 7894(i) of Pub. L. 101–239, set out as

a note under section 1002 of this title.

§ 1027. Retention of records

Every person subject to a requirement to file

any report or to certify any information therefor under this subchapter or who would be subject to such a requirement but for an exemption

or simplified reporting requirement under section 1024(a)(2) or (3) of this title shall maintain

records on the matters of which disclosure is required which will provide in sufficient detail the

necessary basic information and data from

which the documents thus required may be verified, explained, or clarified, and checked for accuracy and completeness, and shall include

vouchers, worksheets, receipts, and applicable

resolutions, and shall keep such records available for examination for a period of not less

than six years after the filing date of the documents based on the information which they contain, or six years after the date on which such

documents would have been filed but for an exemption or simplified reporting requirement

under section 1024(a)(2) or (3) of this title.

(Pub. L. 93–406, title I, §107, Sept. 2, 1974, 88 Stat.

850; Pub. L. 105–34, title XV, §1503(d)(5), Aug. 5,

1997, 111 Stat. 1062.)