(a) Purpose and scope. (1) This section contains an alternative
method of compliance with the reporting and disclosure requirements of
part 1 of title I of the Employee Retirement Income Security Act of 1974
for unfunded or insured pension plans maintained by an employer for a
select group of management or highly compensated employees, pursuant to
the authority of the Secretary of Labor under section 110 of the Act (88
Stat. 851).
(2) Under section 110 of the Act, the Secretary is authorized to
prescribe an alternative method for satisfying any requirement of part 1
of title I of the Act with respect to any pension plans, or class of
pension plans, subject to such requirement.
(b) Filing obligation. Under the authority of section 110 of the
Act, an alternative form of compliance with the reporting and disclosure
requirements of part 1 of the Act is provided for certain pension plans
for a select group of management or highly compensated employees. The
administrator of a pension plan described in paragraph (d) shall be
deemed to satisfy the reporting and disclosure provisions of part 1 of
title I of the Act by--
(1) Filing a statement with the Secretary of Labor that includes the
name and address of the employer, the employer identification number
(EIN) assigned by the Internal Revenue Service, a declaration that the
employer maintains a plan or plans primarily for the purpose of
providing deferred compensation for a select group of management or
highly compensated employees, and a statement of the number of such
plans and the number of employees in each, and
(2) Providing plan documents, if any, to the Secretary upon request
as required by section 104(a)(6) of the Act. Only one statement need be
filed for each employer maintaining one or more of the plans described
in paragraph (d) of this section. For plans in existence on May 4, 1975,
the statement shall be filed on or before August 31, 1975. For a plan to
which part 1 of title I of the Act becomes applicable after May 4, 1975,
the statement shall be filed within 120 days after the plan becomes
subject to part 1.
(c) Filing address. Statements may be filed with the Secretary of
Labor by mailing them addressed to: Top Hat Plan Exemption, Employee
Benefits Security Administration, Room N-1513, U.S. Department of Labor,
200 Constitution Avenue NW., Washington, DC 20210, or by delivering it
during normal working hours to the Employee Benefits Security
Administration, Room N-1513, U.S. Department of Labor, 200
[[Page 420]]
Constitution Avenue NW., Washington, DC.
(d) Application. The alternative form of compliance described in
paragraph (b) of this section is available only to employee pension
benefit plans--
(1) Which are maintained by an employer primarily for the purpose of
providing deferred compensation for a select group of management or
highly compensated employees, and
(2) For which benefits (i) are paid as needed solely from the
general assets of the employer, (ii) are provided exclusively through
insurance contracts or policies, the premiums for which are paid
directly by the employer from its general assets, issued by an insurance
company or similar organization which is qualified to do business in any
State, or (iii) both.
[40 FR 34533, Aug. 15, 1975, as amended at 54 FR 8629, Mar. 1, 1989; 67
FR 776, Jan. 7, 2002; 68 FR 16400, Apr. 3, 2003]
