applicable plan year

(2) Information contained in notices (A) Identifying information Each notice required under paragraph (1) shall contain identifying information, including the name of the plan, the address and phone number of the plan administrator and the plan’s principal administrative officer, each plan sponsor’s employer identification number, and the plan number of the plan. (B) Specific information A plan funding notice under paragraph (1) shall include— (i) (I) in the case of a single-employer plan, a statement as to whether the plan’s funding target attainment percentage (as defined in section 1083(d)(2) of this title ) for the plan year to which the notice relates, and for the 2 preceding plan years, is at least 100 percent (and, if not, the actual percentages), or (II) in the case of a multiemployer plan, a statement as to whether the plan’s funded percentage (as defined in section 1085(i) 1 of this title) for the plan year to which the notice relates, and for the 2 preceding plan years, is at least 100 percent (and, if not, the actual percentages), (ii) (I) in the case of a single-employer plan, a statement of— (aa) the total assets (separately stating the prefunding balance and the funding standard carryover balance) and liabilities of the plan, determined in the same manner as under section 1083 of this title , for the plan year to which the notice relates and for the 2 preceding plan years, as reported in the annual report for each such plan year, and (bb) the value of the plan’s assets and liabilities for the plan year to which the notice relates as of the last day of the plan year to which the notice relates determined using the asset valuation under subclause (II) of section 1306(a)(3)(E)(iii) of this title and the interest rate under section 1306(a)(3)(E)(iv) of this title , and (II) in the case of a multiemployer plan, a statement, for the plan year to which the notice relates and the preceding 2 plan years, of the value of the plan assets (determined both in the same manner as under section 1084 of this title and under the rules of subclause (I)(bb)) and the value of the plan liabilities (determined in the same manner as under section 1084 of this title except that the method specified in section 1085(i)(8) 1 of this title shall be used), (iii) a statement of the number of participants who are— (I) retired or separated from service and are receiving benefits, (II) retired or separated participants entitled to future benefits, and (III) active participants under the plan, (iv) a statement setting forth the funding policy of the plan and the asset allocation of investments under the plan (expressed as percentages of total assets) as of the end of the plan year to which the notice relates, (v) in the case of a multiemployer plan, whether the plan was in critical or endangered status under section 1085 of this title for such plan year and, if so— (I) a statement describing how a person may obtain a copy of the plan’s funding improvement or rehabilitation plan, as appropriate, adopted under section 1085 of this title and the actuarial and financial data that demonstrate any action taken by the plan toward fiscal improvement, and (II) a summary of any funding improvement plan, rehabilitation plan, or modification thereof adopted under section 1085 of this title during the plan year to which the notice relates, (vi) in the case of a multiemployer plan, whether the plan was in critical and declining status under section 1085 of this title for such plan year and, if so— (I) the projected date of insolvency; (II) a clear statement that such insolvency may result in benefit reductions; and (III) a statement describing whether the plan sponsor has taken legally permitted actions to prevent insolvency. (vii) in the case of any plan amendment, scheduled benefit increase or reduction, or other known event taking effect in the current plan year and having a material effect on plan liabilities or assets for the year (as defined in regulations by the Secretary), an explanation of the amendment, schedule increase or reduction, or event, and a projection to the end of such plan year of the effect of the amendment, scheduled increase or reduction, or event on plan liabilities, (viii) (I) in the case of a single-employer plan, a summary of the rules governing termination of single-employer plans under subtitle C of subchapter III, or (II) in the case of a multiemployer plan, a summary of the rules governing reorganization or insolvency, including the limitations on benefit payments, (ix) a general description of the benefits under the plan which are eligible to be guaranteed by the Pension Benefit Guaranty Corporation, along with an explanation of the limitations on the guarantee and the circumstances under which such limitations apply, (x) a statement that a person may obtain a copy of the annual report of the plan filed under section 1024(a) of this title upon request, through the Internet website of the Department of Labor, or through an Intranet website maintained by the applicable plan sponsor (or plan administrator on behalf of the plan sponsor), and (xi) if applicable, a statement that each contributing sponsor, and each member of the contributing sponsor’s controlled group, of the single-employer plan was required to provide the information under section 1310 of this title for the plan year to which the notice relates. (C) Other information Each notice under paragraph (1) shall include— (i) in the case of a multiemployer plan, a statement that the plan administrator shall provide, upon written request, to any labor organization representing plan participants and beneficiaries and any employer that has an obligation to contribute to the plan, a copy of the annual report filed with the Secretary under section 1024(a) of this title , and (ii) any additional information which the plan administrator elects to include to the extent not inconsistent with regulations prescribed by the Secretary. (D) Effect of segment rate stabilization on plan funding (i) In general In the case of a single-employer plan for an applicable plan year, each notice under paragraph (1) shall include— (I) a statement that the MAP-21, the Highway and Transportation Funding Act of 2014, and the Bipartisan Budget Act of 2015 modified the method for determining the interest rates used to determine the actuarial value of benefits earned under the plan, providing for a 25-year average of interest rates to be taken into account in addition to a 2-year average, (II) a statement that, as a result of the MAP-21, the Highway and Transportation Funding Act of 2014, and the Bipartisan Budget Act of 2015, the plan sponsor may contribute less money to the plan when interest rates are at historical lows, and (III) a table which shows (determined both with and without regard to section 1083(h)(2)(C)(iv) of this title ) the funding target attainment percentage (as defined in section 1083(d)(2) of this title ), the funding shortfall (as defined in section 1083(c)(4) of this title ), and the minimum required contribution (as determined under section 1083 of this title ), for the applicable plan year and each of the 2 preceding plan years. (ii) Applicable plan year For purposes of this subparagraph, the term “applicable plan year” means any plan year beginning after December 31, 2011 , and before January 1, 2023 , for which— (I) the funding target (as defined in section 1083(d)(2) of this title ) is less than 95 percent of such funding target determined without regard to section 1083(h)(2)(C)(iv) of this title , (II) the plan has a funding shortfall (as defined in section 1083(c)(4) of this title and determined without regard to section 1083(h)(2)(C)(iv) of this title ) greater than $500,000, and (III) the plan had 50 or more participants on any day during the preceding plan year. For purposes of any determination under subclause (III), the aggregation rule under the last sentence of section 1083(g)(2)(B) of this title shall apply. (iii) Special rule for plan years beginning before 2012 In the case of a preceding plan year referred to in clause (i)(III) which begins before January 1, 2012 , the information described in such clause shall be provided only without regard to section 1083(h)(2)(C)(iv) of this title . (E) Effect of CSEC plan rules on plan funding In the case of a CSEC plan, each notice under paragraph (1) shall include— (i) a statement that different rules apply to CSEC plans than apply to single-employer plans, (ii) for the first 2 plan years beginning after December 31, 2013 , a statement that, as a result of changes in the law made by the Cooperative and Small Employer Charity Pension Flexibility Act, the contributions to the plan may have changed, and (iii) in the case of a CSEC plan that is in funding restoration status for the plan year, a statement that the plan is in funding restoration status for such plan year. A copy of the statement required under clause (iii) shall be provided to the Secretary, the Secretary of the Treasury, and the Director of the Pension Benefit Guaranty Corporation.

Source

29 USC § 1021(f)(2)


Scoping language

For purposes of this subparagraph
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