June 2015 Employee Benefits Update

1. Annual Benefit Statement for Calendar-Year Defined Contribution Plans with Plan-Directed Investments. Administrators of defined contribution plans that do not allow participant investment direction must provide an annual benefit statement to participants and beneficiaries by the date on which the Form 5500 is filed for the plan (but no later than the due date, including extensions, for filing the Form 5500) for the plan year to which the benefit statement relates. For a calendar-year plan, the benefit statement is due by the earlier of (a) the actual filing date of the 2014 Form 5500 or (b) July 31, 2015 (the plan's regular Form 5500 filing deadline), unless a Form 5500 deadline extension applies.