Featuring Carly Grey – Associate from Morgan Lewis, Mike Irey – Director of Operations at PBI, and Mike Schoonveld – Director of Sales at PBI.

For many pension plans, it’s that time of year – Annual Funding Notice (AFN) season. AFNs need to be sent to plan participants and beneficiaries no later than 120 days after the close of the plan year. Communicating the plan’s funding status is mandatory, but it, and other retirement plan notices, often requires significant time and resources on behalf of the plan administrator including preparing and sending communication, managing returned mail, locating and finding new addresses, and tracking/documenting all efforts for audit purposes.

Watch this recorded webinar of PBI Research and Morgan Lewis on what you need to know about AFNs and other retirement plan notices including:

Current requirements and guidance
-Requirements of communication
-Department of Labor’s guidance around missing participants

Best practices of sending and managing AFNs
-Steps you can take now
-Managing returned mail
-Documenting and reporting efforts

2022 predictions
-DOL involvement going forward
-Possible industry changes in 2022…(read more)

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Webinar: Annual Funding and Other Retirement Plan Notices – What You Need to Know

Are you a business owner or employer who offers a retirement plan? Are you aware of the annual funding and other retirement plan notices that you need to provide to your employees?

If not, then you should attend this webinar to learn more. This webinar will provide an overview of the annual funding and other retirement plan notices that you may need to provide to your employees. You will learn about the types of notices, the information they contain, and when they should be provided. Additionally, you will learn about the potential consequences of failing to provide the required notices.

The webinar will cover the following topics:

• Types of Notices: You will learn about the different types of notices that may need to be provided to your employees, such as the Summary Plan Description (SPD), Summary Annual Report (SAR), and Annual Funding Notice (AFN).

• Information Contained in Notices: You will learn about the information that is typically included in the notices, such as the plan’s vesting schedule, benefit options, and funding status.

• When Notices Should Be Provided: You will learn about the timelines for providing the notices to your employees, as well as the potential consequences of failing to provide them.

• Other Considerations: You will also learn about other considerations related to the notices, such as the need to update them in a timely manner and the potential need to provide them in multiple languages.

This webinar will provide you with the information you need to ensure that you are providing the required notices to your employees in a timely and accurate manner. Don’t miss out on this valuable opportunity to learn more about the annual funding and other retirement plan notices. Sign up today!