§ 6059. Periodic report of actuary

858 words·~4 min read·/usc/title-26/section-6059

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(a)General rule The actuarial report described in subsection

(b)shall be filed by the plan administrator (as defined in section 414(g) of each defined benefit plan to which section 412 applies, for the first plan year for which section 412 applies to the plan and for each third plan year thereafter (or more frequently if the Secretary determines that more frequent reports are necessary).

(b)Actuarial report The actuarial report of a plan required by subsection

(a)shall be prepared and signed by an enrolled actuary (within the meaning of section 7701(a)(35)) and shall contain—

(1)a description of the funding method and actuarial assumptions used to determine costs under the plan,

(2)a certification of the contribution necessary to reduce the minimum required contribution determined under section 430, the accumulated funding deficiency under section 433, or the accumulated funding deficiency determined under section 431, to zero,

(3)a statement—

(A)that to the best of his knowledge the report is complete and accurate, and

(B)that the requirements for reasonable actuarial assumptions under section 430(h)(1), 431(c)(3), or 433(c)(3), whichever are applicable, have been complied with,

(4)such other information as may be necessary to fully and fairly disclose the actuarial position of the plan, and

(5)such other information regarding the plan as the Secretary may by regulations require.

(c)Time and manner of filing The actuarial report and statement required by this section shall be filed at the time and in the manner provided by regulations prescribed by the Secretary.

(d)Cross reference For coordination between the Department of the Treasury and the Department of Labor with respect to the report required to be filed under this section, see section 3004 of title III of the Employee Retirement Income Security Act of 1974.

(Added Pub. L. 93–406, title II, § 1033(a), Sept. 2, 1974, 88 Stat. 947; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 109–280, title I, § 114(f), Aug. 17, 2006, 120 Stat. 855; Pub. L. 113–97, title II, § 202(c)(10), Apr. 7, 2014, 128 Stat. 1138; Pub. L. 115–141, div. U, title IV, § 401(a)(265), Mar. 23, 2018, 132 Stat. 1197.)

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