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purposes of this subparagraph, the term ‘em-
ployer contribution’ means, in connection with a
participant, a contribution made by an em-
ployer as an employer of such participant.
‘‘(D) The ratio of—
‘‘(i) the number of participants under
the plan on whose behalf no employer had
an obligation to make an employer con-
tribution during the plan year, to
‘‘(ii) the number of participants under
the plan on whose behalf no employer had
an obligation to make an employer con-
tribution during each of the 2 preceding
plan years.
‘‘(E) Whether the plan received an amorti-
zation extension under section 304(d) or section
431(d) of the Internal Revenue Code of 1986 for
such plan year and, if so, the amount of the dif-
ference between the minimum required contribu-
tion for the year and the minimum required con-
tribution which would have been required with-
out regard to the extension, and the period of
such extension.
‘‘(F) Whether the plan used the shortfall
funding method (as such term is used in section
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305) for such plan year and, if so, the amount
of the difference between the minimum required
contribution for the year and the minimum re-
quired contribution which would have been re-
quired without regard to the use of such method,
and the period of use of such method.
‘‘(G) Whether the plan was in critical or
endangered status under section 305 for such
plan year, and if so, a summary of any funding
improvement or rehabilitation plan (or modi-
fication thereto) adopted during the plan year,
and the funding ratio of the plan.
‘‘(H) The number of employers that with-
drew from the plan during the preceding plan
year and the aggregate amount of withdrawal li-
ability assessed, or estimated to be assessed,
against such withdrawn employers.
‘‘(I) In the case of a multiemployer plan
that has merged with another plan or to which
assets and liabilities have been transferred, the
actuarial valuation of the assets and liabilities of
each affected plan during the year preceding the
effective date of the merger or transfer, based
upon the most recent data available as of the day
before the first day of the plan year, or other
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valuation method performed under standards
and procedures as the Secretary may prescribe
by regulation.’’.
(2) GUIDANCE BY SECRETARY OF LABOR.—
(A) IN GENERAL.—Not later than 180 days
after the date of enactment of this Act, the Sec-
retary of Labor shall publish guidance to assist
multiemployer defined benefit plans to—
(i) identify and enumerate plan par-
ticipants for whom there is no employer
with an obligation to make an employer
contribution under the plan; and
(ii) report such information under sec-
tion 103(f)(2)(D) of the Employee Retire-
ment Income Security Act of 1974 (as
added by this section).
(B) WAIVER OF REQUIREMENT.—The Sec-
retary of Labor shall waive the requirement
under section 103(f)(2)(D) of such Act (as added
by this section) for the construction and enter-
tainment industries.
(b) ADDITIONAL INFORMATION IN ANNUAL ACTUARIAL
STATEMENT
REGARDING
PLAN
RETIREMENT
PROJEC-
TIONS.—Section 103(d) of such Act (29 U.S.C. 1023(d)) is
amended—
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(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) FORM
AND
MANNER
OF
REPORT.—Section
104(b)(3) of such Act (29 U.S.C. 1024(b)(3)) is amended
by—
(1) striking ‘‘(3) Within’’ and inserting—
‘‘(A) IN GENERAL.—Within’’; and
(2) adding at the end the following:
‘‘(B) FORM OF REPORT.—The material pro-
vided pursuant to subparagraph (A) to summa-
rize the latest annual report shall be written in
a manner calculated to be understood by the av-
erage plan participant.
(d) FURNISHING SUMMARY PLAN INFORMATION TO
EMPLOYERS AND EMPLOYEE REPRESENTATIVES OF MULTI-
EMPLOYER PLANS.—
(1) IN GENERAL.—Section 104 of such Act (29
U.S.C. 1024) is amended—
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(A) in the header, by striking ‘‘PARTICI-
PANTS’’ and inserting ‘‘PARTICIPANTS AND CER-
TAIN EMPLOYERS’’;
(B) redesignating subsection (d) as sub-
section (e); and
(C) inserting after subsection (c) the fol-
lowing:
‘‘(d) FURNISHING SUMMARY PLAN INFORMATION TO
EMPLOYERS AND EMPLOYEE REPRESENTATIVES OF MULTI-
EMPLOYER PLANS.—
‘‘(1) IN GENERAL.—With respect to a multiem-
ployer plan subject to this section, within 30 days
after the due date under subsection (a)(1) for the fil-
ing of the annual report for the fiscal year of the
plan, the administrators shall furnish to each em-
ployee organization, employer with an obligation to
contribute to the plan, and the Pension Benefit Guar-
anty Corporation, a report that contains—
‘‘(A) a description of the contribution sched-
ules and benefit formulas under the plan, and
any modification to such schedules and formulas,
during such plan year;
‘‘(B) the number of employers obligated to
contribute to the plan;