Sec. 217. Time for providing explanation of qualified preretirement survivor annuity
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Subparagraph
(B)of section 417(a)(3) is amended to read as follows: Each plan shall provide to each participant, within a reasonable time after the individual becomes a participant (and consistent with such regulations as the Secretary may prescribe), a written explanation with respect to the qualified preretirement survivor annuity comparable to the explanation required under subparagraph (A). A plan shall be treated as meeting the requirements of this subparagraph if the explanation is included with each summary plan description required to be provided to the participant under section 102 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1022). . Subparagraph
(B)of section 205(c)(3) of the Employee Retirement Income Security Act of 1974 is amended to read as follows: Each plan shall provide to each participant, within a reasonable time after the individual becomes a participant (and consistent with such regulations as the Secretary of the Treasury may prescribe), a written explanation with respect to the qualified preretirement survivor annuity comparable to the explanation required under subparagraph (A). A plan shall be treated as meeting the requirements of this subparagraph if the explanation is included with each summary plan description required to be provided to the participant under section 102. . The amendments made by this section shall apply to— individuals who become participants after December 31, 2013, and individuals who became participants before such date but to whom the written explanation under section 417(a)(3)(B) of the Internal Revenue Code of 1986 and section 205(c)(3)(B) of the Employee Retirement Income Security Act of 1974 (as in effect before such amendments) was not required to be provided before January 1, 2014. In the case of any individual described in paragraph (2), a plan shall be treated as meeting the requirements of such sections 417(a)(3)(B) and 205(c)(3)(B) (as in effect after such amendments) if the written explanation is provided within a reasonable period after December 31, 2013.
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Sec. 217
Time for providing explanation of qualified preretirement survivor annuity
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