[Code of Federal Regulations]

[Title 29, Volume 9]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 29CFR2520.104-27]



[Page 444-445]

 

                             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



[[Page 445]]



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]