Resources

New Benefit Statement Mandate

Date:
03/12/2007

Source:
Walter W. Miller

Link:

Description:
The Pension Protection Act of 2006 (the "Act") was signed into law on August 17, 2006. This legislation contains a number of reform measures directed toward qualified retirement plans, including Section 401(k) and Section 403(b) plans. A key provision of the Act requires that benefit statements for most retirement plans be furnished to participants on a quarterly basis. The statements must also include significantly more information than has typically been provided in the past. The new rules are effective for plan years beginning on or after January 1, 2007. As a result, benefit statements that meet the new disclosure standards must be provided for the quarter ending on March 31, 2007. Below is a discussion of the new benefit statement mandates that we hope will assist you in addressing the application of the new law to your own retirement plan.

Download:
New Benefit Statement Mandate.pdf