Federal report says ERISA-mandated information confusing, overwhelming

12/19/2013 | Financial Advisor online

The Government Accountability Office says requirements for pension plan reports are overwhelming and confusing for plan sponsors and beneficiaries alike, Ted Knutson writes. The GAO report notes that the Employee Retirement Income Security Act requires plan sponsors to file more than 130 reports and disclosures with three federal agencies, but the specific reporting details vary and guidance for filing is unclear.

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