Sec. 5. Transparency
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Paragraph
(2)of section 101(f) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(f)) is amended by adding at the end the following new subparagraph: In the case of a CSEC plan, each notice under paragraph
(1)shall include— a statement that different rules apply to CSEC plans than apply to single-employer plans, 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 for the first 2 plan years beginning after December 31, 2013, a statement that participants and participating employers may request a table which shows (determined both with and without regard to such different rules) the required minimum contributions to the plan for the applicable plan year and each of the 2 preceding plan years. For purposes of this subparagraph, the term applicable plan year means any plan year beginning after December 31, 2013, for which— the plan has a funding shortfall (as defined in section 303(c)(4)) greater than $1,000,000, and the plan had 50 or more participants on any day during the preceding plan year. For purposes of any determination under subclause (II), the aggregation rule under the last sentence of section 303(g)(2)(B) shall apply. In the case of a preceding plan year referred to in clause (i)(III) which begins before January 1, 2014, the information described in such clause shall be provided only without regard to the different rules applicable to CSEC plans. . The Secretary of Labor may modify the model notice required to be published under section 501(c) of the Pension Protection Act of 2006 to include the information described in section 101(f)(2)(E) of the Employee Retirement Income Security Act of 1974, as added by this subsection. Paragraph
(2)of section 101(d) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(d)) is amended by striking 303 and inserting 303 or 306 . Paragraph
(3)of section 101(d) of the Employee Retirement Income Security Act of 1974 ( 21 U.S.C. 1021(d) ) is amended by striking 303(j) and inserting 303(j) or 306(f), whichever is applicable . Section 103 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1023 ) is amended by adding at the end the following new subsection: With respect to any CSEC plan, an annual report under this section for a plan year shall include a list of participating employers and a good faith estimate of the percentage of total contributions made by such participating employers during the plan year. .
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- 21 USC 1021(d)
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