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DOL/EBSA RIN: 1210-AB20 Publication ID: Fall 2007 
Title: Periodic Pension Benefit Statements  
Abstract: Section 508 of the Pension Protection Act of 2006 (PPA) amended section 105 of ERISA to require plans that are subject to ERISA to automatically provide participants and certain beneficiaries with individual pension benefit statements. Generally, defined benefit plans must provide the statement every three years, with an annual alternative. Individual account plans that permit participant direction must provide the statement quarterly and individual account plans that do not permit participant direction must provide the statement annually. The PPA directed the Department of Labor to provide a model statement within one year of enactment of the statute and the Department has been given interim final rulemaking authority. 
Agency: Department of Labor(DOL)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
CFR Citation: 29 CFR 2520   
Legal Authority: 29 USC 1025    ERISA sec 105    PL 109-280 sec 508, Pension Protection Act of 2006    29 USC 1135    ERISA sec 505   
Legal Deadline:
Action Source Description Date
Final  Statutory    08/18/2007 

Statement of Need: This rulemaking is needed to implement the new pension benefit statement requirements in section 105 of ERISA, with respect to which Congress directed the Secretary of Labor to issue model benefit statements.

Summary of the Legal Basis: Section 505 of ERISA provides that the Secretary may prescribe such regulations as she finds necessary and appropriate to carry out the provisions of title I of the Act. In addition, section 508(b)(2) of the PPA provides that the Secretary may promulgate any interim final rules as the Secretary determines appropriate to carry out the new pension benefit statement requirements.

Alternatives: Alternatives will be considered following a determination of the scope and nature of the regulatory guidance needed by the public.

Anticipated Costs and Benefits: Preliminary estimates of the anticipated costs and benefits will be developed, as appropriate, following a determination regarding the alternatives to be considered.

Timetable:
Action Date FR Cite
NPRM  04/00/2008    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: Yes 
RIN Data Printed in the FR: No 
Agency Contact:
Suzanne Adelman
Senior Pension Law Specialist
Department of Labor
Employee Benefits Security Administration
200 Constitution Avenue NW., FP Building, Room N-5655,
Washington, DC 20210
Phone:202 693-8500
Fax:202 219-7291