Combined SAR for multiple plans?

[Guest Laura A Anderson]

Anyone ever heard of this? Potential client says that last year they issued a combined SAR to save on mailing costs. They had all the standard language, but added a separate paragraph for each plan with details on participants, assets, etc.

For some reason, this doesn't "smell" right to me! (And I don't know how it would really save on their mailings, anyway, since all the participants would have to receive it, but that's another issue.)

Any thoughts/authority on this? Thanks!

[KIP KRAUS]

It has always been my understanding that ERISA frowns on employers altering the SAR format. Reporting multiple plans on one SAR to me would be altering the reporting format since each plan is required to issue a SAR.

My personal opinion is that SARs provide nebulas information that means little or nothing to plan participants other than indicating that the plan has filed the required 5500, and informs the participants that they can request a complete copy of the filing exclusive of any confidential information. In over 25 years I have had two plan participants request the complete 5500 filings.