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Release Date: November 30, 2006
Release Number: 06-2021-NAT
Contact Name: Gloria Della/Peter Hong
Phone Number: 202.693.8664/202.693.4676
Washington - The U.S. Department of Labor (DOL) today announced publication of a model notice that may be used by employee benefit plans that elect to be treated as a multiemployer plans under the Employee Retirement Income Security Act (ERISA).
The Pension Protection Act of 2006 (PPA) amended ERISA to permit certain plans that elected to be single-employer plans to revoke that election and allows other plans to elect to be treated as multiemployer plans provided that notice of the election is furnished to participants and other interested parties no later than 30 days before the election. The notice must describe, among other things, the principal differences between ERISA’s guarantee programs and benefit restrictions for single-employer and multiemployer plans.
Plan administrators may use the model notice to fulfill their notice obligations when making an election. Elections must be made with the Pension Benefit Guaranty Corporation within one year after the enactment of the PPA. A copy of the model notice is available through the DOL’s Employee Benefits Security Administration Web site at www.dol.gov/ebsa.
The model notice will be published in the December 1, 2006 Federal Register.
U.S. Department of Labor news releases are accessible on the
Department's Newsroom
page. The information in this news release will be made available
in alternate format upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7765 or TTY 202.693.7755. The U.S.
Department of Labor is committed to providing America's employers and
employees with easy access to understandable information on how to comply
with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
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