Practitioners

Overview

The Pension Protection Act of 2006 amended ERISA section 101(f) to create new funding notice requirements for single-employer plans and to change funding notice requirements for multiemployer plans. PPA also repealed ERISA section 4011, which required certain underfunded plans to provide an annual funding status notice to participants.

Single-Employer Plan Annual Funding Notices: Under section 101(f) of ERISA and guidance issued by the Department of Labor, starting with plan years beginning on or after January 1, 2008, single-employer plans with liabilities that exceed plan assets by $50 million or more must provide PBGC with a copy of the Annual Funding Notice by the Annual Funding Notice due date. Single-employer plans with liabilities that exceed plan assets by less than $50 million must provide PBGC with a copy of the Annual Funding Notice within 30 days of receiving a written request from PBGC. See Department of Labor Field Assistance Bulletin No. 2009-01 (Feb. 10, 2009), http://www.dol.gov/ebsa/pdf/fab2009-1.pdf.

Single-employer plans required to provide PBGC with a copy of the Annual Funding Notice should e-mail it to single-employerAFN@pbgc.gov, or send it to:

PBGC
ATTN: Single-Employer AFN Coordinator
1200 K Street, NW, Suite 270
Washington, DC 20005-4026

For more information on reporting and disclosure requirements under section
101(f) of ERISA, including a model notice, see www.dol.gov/ebsa. For questions on PBGC requirements regarding the Annual Funding Notice, call 202-326-4070 or e-mail single-employerAFN@pbgc.gov.

Multiemployer Plan Annual Funding Notices: Multiemployer plans have separate reporting and disclosure requirements under ERISA section 101(f).