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Retirement Plan Participant Notices - Annual Funding Notice

Defined benefit plans must provide information about the plan's funding level, assets, and the extent to which benefits are eligible for guarantee by the PBGC. 

Annual Funding Notice

Description: Defined benefit plans must give each participant an annual funding notice no later than 120 days after the close of each plan year. 

What it should contain:  The annual funding notice must include, among other things, the plan’s funding percentage, a statement of the value of the plan’s assets and liabilities and a description of how the plan’s assets are invested as of specific dates, and a description of the benefits under the plan that are eligible to be guaranteed by the PBGC. For detailed instructions and model notices, see DOL Field Assistance Bulletin 2009-01 and Field Assistance Bulletin 2013-01 (describing additional funding disclosures required in some cases by MAP-21).

Timing: No later than 120 days after the close of the plan year.  Small plans (100 or fewer participants) must give the notice by the earlier of the due date for Form 5500 (including extensions) or the date it is filed. 

Who is responsible for sending it: The administrator of the plan.

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Page Last Reviewed or Updated: 18-Aug-2016