Chaz Posted March 17, 2017 Posted March 17, 2017 Does a multiemployer health & welfare fund have to provide a requesting contributing employer with an actuarial report or financial statements? I believe this requirement exists for multiemployer pension funds but I am not sure if the same rules apply to H&W funds. Thanks!
Peter Gulia Posted March 19, 2017 Posted March 19, 2017 What, if anything, does the health and welfare trust's document provide? If you don't find a right there, get a participant or beneficiary, who can use his or her rights under ERISA section 102-104 and 502. Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
Chaz Posted March 20, 2017 Author Posted March 20, 2017 Thanks Peter. I am coming at this from the Fund's side of the table, not the employer's. The trust documents are silent.
Effen Posted March 20, 2017 Posted March 20, 2017 I don't work on any funds that prepare a true actuarial valuation for the health fund. The only actuarial report that is prepared relates only to the post-retirement benefits and likely has very little information about the actives plan. Since the 5500 and audit report are in the public domain, why not give them a copy (or point them to the DOL website) as they would have more relevant information. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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