[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2520.104-27]

[Page 421]
 
                             TITLE 29--LABOR
 
 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2520_RULES AND REGULATIONS FOR REPORTING AND DISCLOSURE--Table 
of Contents
 
    Subpart D_Provisions Applicable to Both Reporting and Disclosure 
                              Requirements
 
Sec. 2520.104-27  Alternative method of compliance for certain unfunded 
dues financed pension plans maintained by employee organizations.

    (a) Scope. Under the authority of section 110 of the Act, a pension 
benefit plan that meets the requirements of paragraph (b) of this 
section is exempted from the provisions of the Act that require filing 
with the Secretary an annual report and furnishing a summary annual 
report to participants and beneficiaries receiving benefits. Such plans 
may use a simplified method of reporting and disclosure to comply with 
the requirement to furnish a summary plan description to participants 
and beneficiaries receiving benefits, as follows:
    (1) In lieu of filing an annual report with the Secretary or 
distributing a summary annual report, a filing is made of Report Form 
LM-2 or LM-3, pursuant to the Labor-Management Reporting and Disclosure 
Act (LMRDA) and regulations thereunder, and
    (2) In lieu of a summary plan description, the employee organization 
constitution or bylaws may be furnished in accordance with Sec. 
2520.104b-2 to participants and beneficiaries together with any 
supplement to such document necessary to meet the requirements of 
Sec. Sec. 2520.102-2 and 2520.102-3.
    (b) Application. This exemption is available only to pension benefit 
plans maintained by an employee organization, as that term is defined in 
section 3(4) of the Act, paid for out of the employee organization's 
general assets, which are derived wholly or partly from membership dues, 
and which cover employee organization members and their beneficiaries.
    (c) Limitations. This exemption does not exempt the administrator 
from any other requirement of part 1 of title I of the Act.

[42 FR 37184, July 19, 1977, as amended at 67 FR 777, Jan. 7, 2002]