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SEC. 502. ADDITIONAL DISCLOSURE REQUIREMENTS. 
(a) ADDITIONAL ANNUAL REPORTING REQUIRE-
MENTS.—Section 103 of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1023) is amended— 
(1) in subsection (a)(1)(B), by striking ‘‘sub-
sections (d) and (e)’’ and inserting ‘‘subsections (d), 
(e), and (f)’’; and 
(2) by adding at the end the following new sub-
section: 
‘‘(f)(1) With respect to any defined benefit plan, an 
annual report under this section for a plan year shall in-
clude the following: 
‘‘(A) The ratio, as of the end of such plan year, 
of— 
‘‘(i) the number of participants who, as of 
the end of such plan year, are not in covered 
service under the plan and are in pay status 
under the plan or have a nonforfeitable right to 
benefits under the plan, to 
‘‘(ii) the number of participants who are in 
covered service under the plan as of the end of 
such plan year. 
‘‘(B) In any case in which any liabilities to par-
ticipants or their beneficiaries under such plan as of 
the end of such plan year consist (in whole or in 
part) of liabilities to such participants and bene-
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ficiaries borne by 2 or more pension plans as of im-
mediately before such plan year, the funded ratio of 
each of such 2 or more pension plans as of imme-
diately before such plan year and the funded ratio 
of the plan with respect to which the annual report 
is filed as of the end of such plan year. 
‘‘(C) For purposes of this paragraph, the term 
‘funded ratio’ means, in connection with a plan, the 
percentage which— 
‘‘(i) the value of the plan’s assets is of 
‘‘(ii) the liabilities to participants and 
beneficiaries under the plan. 
‘‘(2) With respect to any defined benefit plan which 
is a multiemployer plan, an annual report under this sec-
tion for a plan year shall include the following: 
‘‘(A) The number of employers obligated to con-
tribute to the plan as of the end of such plan year. 
‘‘(B) The number of participants under the 
plan on whose behalf no employer contributions have 
been made to the plan for such plan year. For pur-
poses of this subparagraph, the term ‘employer con-
tribution’ means, in connection with a participant, a 
contribution made by an employer as an employer of 
such participant.’’.
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(b) ADDITIONAL INFORMATION IN ANNUAL ACTU-
ARIAL STATEMENT REGARDING PLAN RETIREMENT PRO-
JECTIONS.—Section 103(d) of such Act (29 U.S.C. 
1023(d)) is amended— 
(1) by redesignating paragraphs (12) and (13) 
as paragraphs (13) and (14), respectively; and 
(2) by inserting after paragraph (11) the fol-
lowing new paragraph: 
‘‘(12) A statement explaining the actuarial as-
sumptions and methods used in projecting future re-
tirements and forms of benefit distributions under 
the plan.’’. 
(c) FILING AFTER 285 DAYS AFTER PLAN YEAR 
ONLY IN CASES OF HARDSHIP.—Section 104(a)(1) of 
such Act (29 U.S.C. 1024(a)(1)) is amended by inserting 
after the first sentence the following new sentence: ‘‘In 
the case of a pension plan, the Secretary may extend the 
deadline for filing the annual report for any plan year past 
285 days after the close of the plan year only on a case 
by case basis and only in cases of hardship, in accordance 
with regulations which shall be prescribed by the Sec-
retary.’’. 
(d) INTERNET DISPLAY OF INFORMATION.—Section 
104(b) of such Act (29 U.S.C. 1024(b)) is amended by 
adding at the end the following:
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‘‘(5) Identification and basic plan information and ac-
tuarial information included in the annual report for any 
plan year shall be filed with the Secretary in an electronic 
format which accommodates display on the Internet, in ac-
cordance with regulations which shall be prescribed by the 
Secretary. The Secretary shall provide for display of such 
information included in the annual report, within 90 days 
after the date of the filing of the annual report, on a 
website maintained by the Secretary on the Internet and 
other appropriate media. Such information shall also be 
displayed on any website maintained by the plan sponsor 
(or by the plan administrator on behalf of the plan spon-
sor) on the Internet, in accordance with regulations which 
shall be prescribed by the Secretary.’’. 
(e) SUMMARY ANNUAL REPORT FILED WITHIN 15 
DAYS AFTER DEADLINE FOR FILING OF ANNUAL RE-
PORT.—Section 104(b)(3) of such Act (29 U.S.C. 
1024(b)(3)) is amended— 
(1) by striking ‘‘Within 210 days after the close 
of the fiscal year of the plan,’’ and inserting ‘‘Within 
15 business days after the due date under subsection 
(a)(1) for the filing of the annual report for the fis-
cal year of the plan,’’; and 
(2) by striking ‘‘the latest’’ and inserting 
‘‘such’’.
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(f) DISCLOSURE OF PLAN ASSETS AND LIABILITIES 
IN SUMMARY ANNUAL REPORT.— 
(1) IN GENERAL.—Section 104(b)(3) of such 
Act (as amended by subsection (a)) is amended fur-
ther— 
(A) by inserting ‘‘(A)’’ after ‘‘(3)’’; and 
(B) by adding at the end the following: 
‘‘(B) The material provided pursuant to subpara-
graph (A) to summarize the latest annual report shall be 
written in a manner calculated to be understood by the 
average plan participant and shall set forth the total as-
sets and liabilities of the plan for the plan year for which 
the latest annual report was filed and for each of the 2 
preceding plan years, as reported in the annual report for 
each such plan year under this section.’’. 
(g) INFORMATION MADE AVAILABLE TO PARTICI-
PANTS, BENEFICIARIES, AND EMPLOYERS WITH RESPECT 
TO MULTIEMPLOYER PLANS.— 
(1) IN GENERAL.—Section 101 of the Employee 
Retirement Income Security Act of 1974 (29 U.S.C. 
1021) (as amended by section 103(b)(2)(A)) is fur-
ther amended— 
(A) by redesignating subsection (k) as sub-
section (l); and
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(B) by inserting after subsection (j) the 
following new subsection: 
‘‘(k) MULTIEMPLOYER PLAN INFORMATION MADE 
AVAILABLE ON REQUEST.— 
‘‘(1) IN
GENERAL.—Each administrator of a 
multiemployer plan shall furnish to any plan partici-
pant or beneficiary or any employer having an obli-
gation to contribute to the plan, who so requests in 
writing— 
‘‘(A) a copy of any actuarial report re-
ceived by the plan for any plan year which has 
been in receipt by the plan for at least 30 days, 
and 
‘‘(B) a copy of any financial report pre-
pared for the plan by any plan investment man-
ager or advisor or other person who is a plan 
fiduciary which has been in receipt by the plan 
for at least 30 days. 
‘‘(2) COMPLIANCE.—Information required to be 
provided under paragraph (1) — 
‘‘(A) shall be provided to the requesting 
participant, beneficiary, or employer within 30 
days after the request in a form and manner 
prescribed in regulations of the Secretary, and
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‘‘(B) may be provided in written, elec-
tronic, or other appropriate form to the extent 
such form is reasonably accessible to persons to 
whom the information is required to be pro-
vided. 
‘‘(3) LIMITATIONS.—In no case shall a partici-
pant, beneficiary, or employer be entitled under this 
subsection to receive more than one copy of any re-
port described in paragraph (1) during any one 12- 
month period. The administrator may make a rea-
sonable charge to cover copying, mailing, and other 
costs of furnishing copies of information pursuant to 
paragraph (1). The Secretary may by regulations 
prescribe the maximum amount which will constitute 
a reasonable charge under the preceding sentence.’’. 
(2) ENFORCEMENT.—Section 502(c)(4) of such 
Act (29 U.S.C. 1132(c)(4)) (as amended by section 
103(b)(2)(B)) is further amended by striking ‘‘sec-
tions 101(j) and 302(b)(7)(F)(iv)’’ and inserting 
‘‘sections 101(j), 101(k), and 302(b)(7)(F)(iv)’’. 
(3) REGULATIONS.—The Secretary shall pre-
scribe regulations under section 101(k)(2) of the 
Employee Retirement Income Security Act of 1974 
(added by paragraph (1) of this subsection) not later
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than 90 days after the date of the enactment of this 
Act. 
(h) NOTICE OF POTENTIAL WITHDRAWAL LIABILITY 
TO MULTIEMPLOYER PLANS.— 
(1) IN GENERAL.—Section 101 of such Act (as 
amended by subsection (g) of this section) is further 
amended— 
(A) by redesignating subsection (l) as sub-
section (m); and 
(B) by inserting after subsection (k) the 
following new subsection: 
‘‘(l) NOTICE OF POTENTIAL WITHDRAWAL LIABIL-
ITY.— 
‘‘(1) IN GENERAL.—The plan sponsor or ad-
ministrator of a multiemployer plan shall furnish to 
any employer who has an obligation to contribute 
under the plan and who so requests in writing notice 
of— 
‘‘(A) the amount which would be the 
amount of such employer’s withdrawal liability 
under part 1 of subtitle E of title IV if such 
employer withdrew on the last day of the plan 
year preceding the date of the request, and 
‘‘(B) the average increase, per participant 
under the plan, in accrued liabilities under the
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plan as of the end of such plan year to partici-
pants under such plan on whose behalf no em-
ployer contributions are payable (or their bene-
ficiaries), which would be attributable to such a 
withdrawal by such employer. 
For purposes of subparagraph (B), the term ‘em-
ployer contribution’ means, in connection with a par-
ticipant, a contribution made by an employer as an 
employer of such participant. 
‘‘(2) COMPLIANCE.—Any notice required to be 
provided under paragraph (1)— 
‘‘(A) shall be provided to the requesting 
employer within 180 days after the request in 
a form and manner prescribed in regulations of 
the Secretary, and 
‘‘(B) may be provided in written, elec-
tronic, or other appropriate form to the extent 
such form is reasonably accessible to employers 
to whom the information is required to be pro-
vided. 
‘‘(3) LIMITATIONS.—In no case shall an em-
ployer be entitled under this subsection to receive 
more than one notice described in paragraph (1) 
during any one 12-month period. The person re-
quired to provide such notice may make a reasonable
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charge to cover copying, mailing, and other costs of 
furnishing such notice pursuant to paragraph (1). 
The Secretary may by regulations prescribe the max-
imum amount which will constitute a reasonable 
charge under the preceding sentence.’’. 
(2) ENFORCEMENT.—Section 502(c)(4) of such 
Act (29 U.S.C. 1132(c)(4)) (as amended by para-
graph (1)) is further amended by striking ‘‘sections 
101(j), 101(k), and 302(b)(7)(F)(iv)’’ and inserting 
‘‘sections 
101(j), 
101(k), 
101(l), 
and 
302(b)(7)(F)(iv)’’. 
(i) MODEL FORM.—Not later than 180 days after the 
date of the enactment of this Act, the Secretary of Labor 
shall publish a model form for providing the statements, 
schedules, and other material required to be provided 
under section 104(b)(3) of the Employee Retirement In-
come Security Act of 1974, as amended by this section. 
(j) EFFECTIVE DATE.—The amendments made by 
this section shall apply to plan years beginning after De-
cember 31, 2005. 
SEC. 503. SECTION 4010 FILINGS WITH THE PBGC. 
(a) CHANGE IN CRITERIA FOR PERSONS REQUIRED 
TO PROVIDE INFORMATION TO PBGC.—Section 4010(b) 
of the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1310(b)) is amended by striking paragraph
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(1), by redesignating paragraphs (2) and (3) as para-
graphs (3) and (4), respectively, and by inserting before 
paragraph (3) (as so redesignated) the following new para-
graphs: 
‘‘(1) the aggregate funding target attainment 
percentage of the plan (as defined in subsection 
(d)(2)) is less than 60 percent; 
‘‘(2)(A) the aggregate funding target attain-
ment percentage of the plan (as defined in sub-
section (d)(2)) is less than 75 percent, and 
‘‘(B) the plan sponsor is in an industry with re-
spect to which the corporation determines that there 
is substantial unemployment or underemployment 
and the sales and profits are depressed or declin-
ing;’’. 
(b) 
NOTICE
TO
PARTICIPANTS
AND
BENE-
FICIARIES.—Section 4010 of the Employee Retirement In-
come Security Act of 1974 (29 U.S.C. 1310) is amended 
by adding at the end the following new subsection: 
‘‘(d) 
NOTICE
TO
PARTICIPANTS
AND
BENE-
FICIARIES.— 
‘‘(1) IN
GENERAL.—Not later than 90 days 
after the submission by any person to the corpora-
tion of information or documentary material with re-
spect to any plan pursuant to subsection (a), such