Page:United States Statutes at Large Volume 120.djvu/967

 120 STAT. 936

Termination date. 29 USC 1302 note.

PUBLIC LAW 109–280—AUG. 17, 2006

manner and to the same extent as in the case of any other rule of the Senate. (d) TRANSITION.—The term of the individual serving as Executive Director of the Pension Benefit Guaranty Corporation on the date of enactment of this Act shall expire on such date of enactment. Such individual, or any other individual, may serve as interim Director of such Corporation until an individual is appointed as Director of such Corporation under section 4002 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1302) (as amended by this Act). SEC. 412. INCLUSION OF INFORMATION IN THE PBGC ANNUAL REPORT.

Section 4008 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1308) is amended by— (1) striking ‘‘As soon as practicable’’ and inserting ‘‘(a) As soon as practicable’’; and (2) adding at the end the following: ‘‘(b) The report under subsection (a) shall include— ‘‘(1) a summary of the Pension Insurance Modeling System microsimulation model, including the specific simulation parameters, specific initial values, temporal parameters, and policy parameters used to calculate the financial statements for the corporation; ‘‘(2) a comparison of— ‘‘(A) the average return on investments earned with respect to assets invested by the corporation for the year to which the report relates; and ‘‘(B) an amount equal to 60 percent of the average return on investment for such year in the Standard & Poor’s 500 Index, plus 40 percent of the average return on investment for such year in the Lehman Aggregate Bond Index (or in a similar fixed income index); and ‘‘(3) a statement regarding the deficit or surplus for such year that the corporation would have had if the corporation had earned the return described in paragraph (2)(B) with respect to assets invested by the corporation.’’.

TITLE V—DISCLOSURE SEC. 501. DEFINED BENEFIT PLAN FUNDING NOTICE.

(a) IN GENERAL.—Section 101(f) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(f)) is amended to read as follows: ‘‘(f) DEFINED BENEFIT PLAN FUNDING NOTICES.— ‘‘(1) IN GENERAL.—The administrator of a defined benefit plan to which title IV applies shall for each plan year provide a plan funding notice to the Pension Benefit Guaranty Corporation, to each plan participant and beneficiary, to each labor organization representing such participants or beneficiaries, and, in the case of a multiemployer plan, to each employer that has an obligation to contribute to the plan. ‘‘(2) INFORMATION CONTAINED IN NOTICES.— ‘‘(A) IDENTIFYING INFORMATION.—Each notice required under paragraph (1) shall contain identifying information, including the name of the plan, the address and phone number of the plan administrator and the plan’s principal

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