Your Summary Annual Report

Long-Term Disability Annual Summary (click through)
Life Insurance Annual Summary (click through)

General Instructions

ERISA requires the administrator of an employee benefit plan to furnish a Summary Annual Report (SAR) to plan participants (including certain beneficiaries).

Who are Participants?

Regulations have been issued that define participants and beneficiaries. Participants are defined as those who meet the eligibility of a plan. (Some plans may also require contributions to be made for participant status).

Retirees, beneficiaries and terminated employees with vested benefits and suspended employees are also participants unless they have a certificate stating that their benefits are fully guaranteed by an insurance company.

Methods of Distribution of Participants

You can use any of the following methods to distribute the SAR:

• Hand-deliver personally to participant at work site
• Insert in your company newsletter if it is distributed according to an up-to-date, all-inclusive distribution list.
• Mail by first class mail
• Electronic Media with respect to participants who have the ability at their worksite to effectively access the SAR furnished in electronic form and have the opportunity at their worksite to readily convert furnished documents from electronic form to paper free of charge. You must notify participants the SAR will be furnished electronically, the significance of the SAR will be furnished electronically, the significance of the SAR and their right upon request to receive a paper copy of the SAR free of charge.

Whichever method you choose, the SAR must be sent in a manner “reasonably calculated to ensure actual receipt.”

If you do not have a terminated vested participant’s correct/current address and there is no forwarding address, you do not have to continue to mail the SAR to the incorrect address.