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New rule for plan funding notices

Until now, only multiemployer plans were required to provide funding notices. That's no longer the case.

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The groundhog isn’t the only one who saw a shadow on Monday. Single-employer defined benefit plans saw the shadow cast by a new rule from the Department of Labor’s Employee Benefits Security Administration on plan funding notices. 

The rule, published in the Feb. 2 issue of the Federal Register, not only laid out the requirements for annual funding notices for single-employer DB plans, but provided model notices for both single- and multiemployer plans. 

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