Welfare benefit plans and pension benefit plans subject to ERISA that are required to file a Form 5500 must also provide a summary of the Form 5500 filing to plan participants and beneficiaries. The Department of Labor’s Employee Benefit Security Administration (EBSA) recently released revised model SAR documents that can be used by plan sponsors or administrators. These revised versions made minor changes to prior model SAR language; for example, the address where plan participants can request a full copy of a Form 5500 has changed.
As a reminder, the summary annual report applicable to welfare benefit plans and pension benefit plans is required to be distributed to participants and beneficiaries within nine months of the end of the plan year.
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