The federal government is revising pension plan reporting paperwork.
The U.S. Department of Labor, the Internal Revenue Service and the Pension Benefit Guaranty Corp. say they are proposing an update to the 2008 Form 5500 to reflect changes required by the new federal Pension Protection Act.
The proposal supplements another revision proposed in July, the agencies say.
The new proposal would replace the Schedule B (Actuarial Information) filed by defined benefit pension plans with separate actuarial schedules for multiemployer plans and single employer plans, the agencies say.
The supplemental proposal also would add questions to the Schedule R (Retirement Plan Information) to collect extra information about defined benefit pension plans.
The agencies also would create a new Form 5500-SF, to make reporting easier for plans with fewer than 25 participants.