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Pension Resource

ERISA § 105 (29 U.S.C. § 1025)

Reporting of participant's benefit rights
USC 2013 ed., current through 2014-01-16 · superseded Jan 24, 2020 · last amended by Pub. L. 109-280
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(a) Requirements to provide pension benefit statements
(1) Requirements
(A) Individual account plan The administrator of an individual account plan (other than a one-participant retirement plan described in section 1021(i)(8)(B) of this title) shall furnish a pension benefit statement—
(i) at least once each calendar quarter to a participant or beneficiary who has the right to direct the investment of assets in his or her account under the plan,
(ii) at least once each calendar year to a participant or beneficiary who has his or her own account under the plan but does not have the right to direct the investment of assets in that account, and
(iii) upon written request to a plan beneficiary not described in clause (i) or (ii).
(B) Defined benefit plan The administrator of a defined benefit plan (other than a one-participant retirement plan described in section 1021(i)(8)(B) of this title) shall furnish a pension benefit statement—
(i) at least once every 3 years to each participant with a nonforfeitable accrued benefit and who is employed by the employer maintaining the plan at the time the statement is to be furnished, and
(ii) to a participant or beneficiary of the plan upon written request.
Information furnished under clause (i) to a participant may be based on reasonable estimates determined under regulations prescribed by the Secretary, in consultation with the Pension Benefit Guaranty Corporation.
(2) Statements
(A) In general A pension benefit statement under paragraph (1)—
(i) shall indicate, on the basis of the latest available information—
(I) the total benefits accrued, and
(II) the nonforfeitable pension benefits, if any, which have accrued, or the earliest date on which benefits will become nonforfeitable,
(ii) shall include an explanation of any permitted disparity under section 401(l) of title 26 or any floor-offset arrangement that may be applied in determining any accrued benefits described in clause (i),
(iii) shall be written in a manner calculated to be understood by the average plan participant, and
(iv) may be delivered in written, electronic, or other appropriate form to the extent such form is reasonably accessible to the participant or beneficiary.
(B) Additional information In the case of an individual account plan, any pension benefit statement under clause (i) or (ii) of paragraph (1)(A) shall include—
(i) the value of each investment to which assets in the individual account have been allocated, determined as of the most recent valuation date under the plan, including the value of any assets held in the form of employer securities, without regard to whether such securities were contributed by the plan sponsor or acquired at the direction of the plan or of the participant or beneficiary, and
(ii) in the case of a pension benefit statement under paragraph (1)(A)(i)—
(I) an explanation of any limitations or restrictions on any right of the participant or beneficiary under the plan to direct an investment,
(II) an explanation, written in a manner calculated to be understood by the average plan participant, of the importance, for the long-term retirement security of participants and beneficiaries, of a well-balanced and diversified investment portfolio, including a statement of the risk that holding more than 20 percent of a portfolio in the security of one entity (such as employer securities) may not be adequately diversified, and
(III) a notice directing the participant or beneficiary to the Internet website of the Department of Labor for sources of information on individual investing and diversification.
(C) Alternative notice The requirements of subparagraph (A)(i)(II) are met if, at least annually and in accordance with requirements of the Secretary, the plan—
(i) updates the information described in such paragraph which is provided in the pension benefit statement, or
(ii) provides in a separate statement such information as is necessary to enable a participant or beneficiary to determine their nonforfeitable vested benefits.
(3) Defined benefit plans
(A) Alternative notice In the case of a defined benefit plan, the requirements of paragraph (1)(B)(i) shall be treated as met with respect to a participant if at least once each year the administrator provides to the participant notice of the availability of the pension benefit statement and the ways in which the participant may obtain such statement. Such notice may be delivered in written, electronic, or other appropriate form to the extent such form is reasonably accessible to the participant.
(B) Years in which no benefits accrue The Secretary may provide that years in which no employee or former employee benefits (within the meaning of section 410(b) of title 26) under the plan need not be taken into account in determining the 3-year period under paragraph (1)(B)(i).
(b) Limitation on number of statements In no case shall a participant or beneficiary of a plan be entitled to more than 1 statement described in subparagraph (A)(iii) or (B)(ii) of subsection (a)(1), whichever is applicable, in any 12-month period.
(c) Individual statement furnished by administrator to participants setting forth information in administrator's Internal Revenue registration statement and notification of forfeitable benefits Each administrator required to register under section 6057 of title 26 shall, before the expiration of the time prescribed for such registration, furnish to each participant described in subsection (a)(2)(C) of such section, an individual statement setting forth the information with respect to such participant required to be contained in the registration statement required by section 6057(a)(2) of title 26. Such statement shall also include a notice to the participant of any benefits which are forfeitable if the participant dies before a certain date.
Source credit, amendments & notes

(Pub. L. 93–406, title I, §105, Sept. 2, 1974, 88 Stat. 849; Pub. L. 98–397, title I, §106, Aug. 23, 1984, 98 Stat. 1436; Pub. L. 101–239, title VII, §§7891(a)(1), 7894(b)(5), Dec. 19, 1989, 103 Stat. 2445, 2448; Pub. L. 109–280, title V, §508(a)(1)–(2)(B), Aug. 17, 2006, 120 Stat. 949, 951.)

Amendments

2006—Subsec. (a). Pub. L. 109–280, §508(a)(1), amended heading and text of subsec. (a) generally. Prior to amendment, text read as follows: “Each administrator of an employee pension benefit plan shall furnish to any plan participant or beneficiary who so requests in writing, a statement indicating, on the basis of the latest available information—

“(1) the total benefits accrued, and

“(2) the nonforfeitable pension benefits, if any, which have accrued, or the earliest date on which benefits will become nonforfeitable.”

Subsec. (b). Pub. L. 109–280, §508(a)(2)(B), amended heading and text of subsec. (b) generally. Prior to amendment, text read as follows: “In no case shall a participant or beneficiary be entitled under this section to receive more than one report described in subsection (a) of this section during any one 12-month period.”

Subsec. (d). Pub. L. 109–280, §508(a)(2)(A), struck out heading and text of subsec. (d). Text read as follows: “Subsection (a) of this section shall apply to a plan to which more than one unaffiliated employer is required to contribute only to the extent provided in regulations prescribed by the Secretary in coordination with the Secretary of the Treasury.”

1989—Subsec. (b). Pub. L. 101–239, §7894(b)(5), substituted “12-month” for “12 month”.

Subsec. (c). Pub. L. 101–239, §7891(a)(1), substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

1984—Subsec. (c). Pub. L. 98–397 inserted at end “Such statement shall also include a notice to the participant of any benefits which are forfeitable if the participant dies before a certain date.”

Effective Date of 2006 Amendment

Pub. L. 109–280, title V, §508(c), Aug. 17, 2006, 120 Stat. 952, provided that:

“(1) In general.—The amendments made by this section [amending this section and section 1132 of this title] shall apply to plan years beginning after December 31, 2006.

“(2) Special rule for collectively bargained agreements.—In the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified on or before the date of the enactment of this Act [Aug. 17, 2006], paragraph (1) shall be applied to benefits pursuant to, and individuals covered by, any such agreement by substituting for ‘December 31, 2006’ the earlier of—

“(A) the later of—

“(i) December 31, 2007, or

“(ii) the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof after such date of enactment), or

“(B) December 31, 2008.”

Effective Date of 1989 Amendment

Amendment by section 7891(a)(1) of Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 7891(f) of Pub. L. 101–239, set out as a note under section 1002 of this title.

Amendment by section 7894(b)(5) of Pub. L. 101–239 effective, except as otherwise provided, as if originally included in the provision of the Employee Retirement Income Security Act of 1974, Pub. L. 93–406, to which such amendment relates, see section 7894(i) of Pub. L. 101–239, set out as a note under section 1002 of this title.

Effective Date of 1984 Amendment

Amendment by Pub. L. 98–397 applicable to plan years beginning after Dec. 31, 1984, except as otherwise provided, see sections 302 and 303 of Pub. L. 98–397, set out as a note under section 1001 of this title.

Regulations

Secretary of Labor authorized, effective Sept. 2, 1974, to promulgate regulations wherever provisions of this subchapter call for the promulgation of regulations by him, see section 1031 of this title.

Model Statements

Pub. L. 109–280, title V, §508(b), Aug. 17, 2006, 120 Stat. 951, provided that:

“(1) In general.—The Secretary of Labor shall, within 1 year after the date of the enactment of this section [Aug. 17, 2006], develop 1 or more model benefit statements that are written in a manner calculated to be understood by the average plan participant and that may be used by plan administrators in complying with the requirements of section 105 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1025].

“(2) Interim final rules.—The Secretary of Labor may promulgate any interim final rules as the Secretary determines appropriate to carry out the provisions of this subsection.”

ERISA § 105 (29 U.S.C. § 1025) — Reporting of participant's benefit rights · USC 2013 ed., current through 2014-01-16 · https://pensionresource.website/EAMain?content=EAMain.Law&id=usc29-1025&asof=2007-01-03 · printed Oct 16, 2026
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  • (a) Requirements to provide pension benefit statements
  • (b) Limitation on number of statements
  • (c) Individual statement furnished by administrator to particip…
Cited by (code & regs)
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Guidance addressing this section
Department of Labor (EBSA)
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Final Rules
Technical Releases
Also cited in 28 other documents
Department of Labor (EBSA)
Proposed Rules
  • 91 FR 46602Proposed Jul 23, 2026 — Electronic Disclosure by Group Health Plans Under ERISA Comments due Sep 21, 2026
  • 88 FR 75890Proposed Nov 3, 2023 — Retirement Security Rule: Definition of an Investment Advice Fiduciary Comments due Jan 2, 2024
  • 86 FR 51284Proposed Sep 15, 2021 — Annual Reporting and Disclosure Comments due Nov 1, 2021 (a)
  • 84 FR 56894Proposed Oct 23, 2019 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA Comments due Nov 22, 2019 (a)
  • 81 FR 47534Proposed Jul 21, 2016 — Proposed Revision of Annual Information Return/Reports Comments due Oct 4, 2016
  • 79 FR 49469Proposed Aug 21, 2014 — Request for Information Regarding Standards for Brokerage Windows in Participant-Directed Individual Account Plans Comments due Nov 19, 2014
  • 78 FR 42027Proposed Jul 15, 2013 — Proposed Amendment To Advance Notice of Proposed Rulemaking for Pension Benefit Statements Comments due Aug 7, 2013
  • 76 FR 19285Proposed Apr 7, 2011 — Request for Information Regarding Electronic Disclosure by Employee Benefit Plans Comments due Jun 6, 2011
  • 75 FR 70625Proposed Nov 18, 2010 — Annual Funding Notice for Defined Benefit Plans Comments due Jan 18, 2011 (a)(b)(1)(b)(2)
Final Rules
  • 91 FR 13503 Mar 20, 2026 — Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur
  • 89 FR 32122 Apr 25, 2024 — Retirement Security Rule: Definition of an Investment Advice Fiduciary
  • 88 FR 31608 May 18, 2023 — Annual Reporting and Disclosure (a)
  • 88 FR 11793 Feb 24, 2023 — Annual Reporting and Disclosure (a)
  • 85 FR 72846 Nov 13, 2020 — Financial Factors in Selecting Plan Investments
  • 85 FR 31884 May 27, 2020 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA (a)(a)(1)(A)(i)
  • 84 FR 27952 Jun 17, 2019 — Electronic Filing of Notices for Apprenticeship and Training Plans and Statements for Pension Plans for Certain Select Employees (a)
  • 80 FR 14301 Mar 19, 2015 — Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans-Timing of Annual Disclosure
  • 80 FR 5626 Feb 2, 2015 — Annual Funding Notice for Defined Benefit Plans (a)
  • 77 FR 5632 Feb 3, 2012 — Reasonable Contract or Arrangement Under Section 408(b)(2)-Fee Disclosure
  • 75 FR 64910 Oct 20, 2010 — Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans (a)(1)(A)(i)
  • 75 FR 9334 Mar 2, 2010 — Multiemployer Pension Plan Information Made Available on Request (b)(1)
Technical Releases
IRS / Treasury
Proposed Rules
  • 89 FR 4215Proposed Jan 23, 2024 — Request for Information-SECURE 2.0 Section 319-Effectiveness of Reporting and Disclosure Requirements Comments due Apr 22, 2024 (a)(2)(A)(iii)
  • 77 FR 37352Proposed Jun 21, 2012 — Reporting and Notice Requirements for Deferred Vested Benefits Under Section 6057 (c)
  • REG-148681-09Proposed Mar 15, 2010 — The Department of Labor and the Department of the Treasury (the “Agencies”) are currently reviewing the rules under the Employer Retirement Income Security Act…
  • 75 FR 5253Proposed Feb 2, 2010 — Request for Information Regarding Lifetime Income Options for Participants and Beneficiaries in Retirement Plans Comments due May 3, 2010
PBGC
Final Rules
  • 85 FR 6046 Feb 4, 2020 — Miscellaneous Corrections, Clarifications, and Improvements
Proposed Rules
  • 84 FR 30666Proposed Jun 27, 2019 — Miscellaneous Corrections, Clarifications, and Improvements Comments due Aug 26, 2019
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Each row is a version of the text as published by the official source. Code dates are the edition/release point that first reflected the change; regulation dates are eCFR effective dates. The library checks the official sources automatically, so new versions appear here on their own; “run” opens the sync that recorded a version.

EffectiveThroughSourceAmended by
Jan 4, 1995Jan 2, 2007USC 1994 ed., current through 1995-01-04 run 49Pub. L. 101-239View
Jan 3, 2007Jan 23, 2020USC 2013 ed., current through 2014-01-16 run 13Pub. L. 109-280View · Redline (sign in)
Jan 24, 2020currentUSC 2024 ed., current through 2025-01-06 run 1Pub. L. 117-328View · Redline (sign in)
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