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To: Plan members, employers, unions and associations From: Municipal Pension Board of Trustees December 5, 2014 2015 Pension Option Factor Tables Revised This Board Communiqué is an update to the
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To plan members employers refers to the individuals or companies that sponsor a retirement savings plan for their employees.
Employers who sponsor retirement savings plans for their employees are required to file information to plan members employers.
To fill out information for plan members employers, employers must gather relevant data about the retirement savings plan and the employees enrolled in the plan.
The purpose of providing information to plan members employers is to ensure compliance with regulations and to keep employees informed about their retirement savings plan.
Information that must be reported on to plan members employers includes details about the retirement savings plan, contributions made by the employer and employee, investment options, and account balances.
The deadline to file information to plan members employers in 2023 is typically by March 31st of the following year for most retirement savings plans.
The penalty for late filing of information to plan members employers can vary, but may include fines or sanctions imposed by regulatory authorities.
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