"A SAR is a summary annual report, and its purpose is to summarize for employees the information that appears in an ERISA plan's Form 5500. SARs are required each year for pension plans, including 401(k) plans, and for welfare plans unless an exemption applies.... The SAR must be furnished to participants covered under the plan and to other individuals who must be provided with summary plan descriptions (SPDs), such as COBRA qualified beneficiaries. SARs may be distributed by any method permissible for SPDs, including electronically."  MORE >>