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ARTICLE · 01 SEPTEMBER 2015

Employee Benefits Update - August 2015

The DOL issued Field Assistance Bulletin 2015-02 ("FAB") to provide guidance to defined contribution plan fiduciaries regarding compliance with the annuity selection safe harbor.

United StatesEmployment and HR

SELECT COMPLIANCE DEADLINES AND REMINDERS

Summary Annual Report ("SAR") Deadline for Calendar Year Defined Contribution Plans

Plan administrators must distribute SARs to participants and beneficiaries within nine months of the plan's year end. For plan years that end December 31, the SAR is due September 30, 2015. If the plan received an extension for filing Form 5500, the deadline for providing SARs is extended by two months.

Summary Report for Multiemployer Defined Benefit Plans

Multiemployer defined benefit plans must provide a summary report to participating unions and contributing employers within 30 days of the deadline for filing the Form 5500. The summary report must contain information such as benefit formulas and other financial information.

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