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Release Date: December 8, 2006
Release Number: 06-2053-NAT
Contact Name: Gloria Della/Peter Hong
Phone Number: 202.693.8664/202.693.4676
Washington - The U.S. Department of Labor’s
Employee Benefits Security Administration (EBSA), the Internal Revenue
Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC) today
announced proposed supplemental revisions to the 2008 Form 5500.
Pension and welfare benefit plans required to file an
annual return/report regarding their financial condition, investments
and operations each year generally satisfied that requirement by filing
the Form 5500 Annual Return/Report of Employee Benefit Plan and any
required attachments.
The proposed revisions implement amendments to the
annual reporting and pension funding requirements of the Employee
Retirement Income Security Act (ERISA) and Internal Revenue Code enacted
as part of the Pension Protection Act (PPA). The proposal supplements a
more general revision of the 2008 Form 5500 proposed by the agencies in
July 2006. The supplemental proposal would replace the Schedule B
(Actuarial Information) filed by defined benefit pension plans with
separate actuarial schedules for multiemployer plans and single employer
plans.
The supplemental proposal also would add questions to
the Schedule R (Retirement Plan Information) to collect new information
on defined benefit pension plans required under the PPA. Finally, the
supplemental proposal would establish the Form 5500-SF, which was part
of the agencies’ July 2006 proposal, as the simplified report required
by PPA for plans with fewer than 25 participants. These proposed
revisions would be effective for 2008 plan year filings.
The public is encouraged to submit comments on the
proposed supplemental form revisions electronically by email to e-ori@dol.gov
or through the federal e-rulemaking portal at www.regulations.gov.
Comments may also be submitted on paper to the Office of Regulations and
Interpretation, Employee Benefits Security Administration, Room N-5669,
U.S. Department of Labor, 200 Constitution Avenue, NW, Washington, DC
20210, Attention: Supplemental Forms Revisions.
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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