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Access to Multiemployer Plan Information

The Pension Protection Act of 2006 requires multiemployer plans to furnish participants and beneficiaries with certain financial information upon written request.

All private retirement plan participants can request copies of their plans’ annual financial reports. Plan administrators must file the annual financial report called a Form 5500 seven months after the end of a plan year, but may receive extensions.

The Pension Protection Act requires administrators of multiemployer plans to furnish certain additional financial documents within 30 days of receiving a written request:

  • Copies of any periodic actuarial reports for any plan year that has been in the possession of the plan for at least 30 days.
  • Copies of any quarterly, semi-annual or annual financial reports prepared for the plan by any investment manager, advisor, or other fiduciary that has been in the plan’s possession for at least 30 days.
  • A copy of any application to the government requesting an extension in the period of years required to make up any funding shortfalls to the plan.

A plan administrator who furnishes the above documents is not allowed to include any individual identifiable information, or proprietary information about the plan, employers, or service providers. The plan administrator may charge reasonable copying fees and the documents may also be provided in electronic form.

The new provision will take effect in 2008.

Read Section 502 of the Pension Protection Act of 2006 Public Law 109-280