112. Within nine months after the end of every fiscal year, the pension committee shall transmit to each member and beneficiary a document containing a summary of the provisions of the pension plan that were amended during the last fiscal year and a brief description of the rights and obligations arising therefrom, together with an annual statement containing the information prescribed by regulation in particular with respect to
(1) the benefits accrued to the member during the last fiscal year and from the beginning of membership in the plan until the end of the last fiscal year; and
(2) the financial position of the pension plan.
If it has been informed that an association has been created to represent non-active members or beneficiaries under the plan, the pension committee shall append a notice to the annual statement indicating the name and address of the association.
The pension committee is not required to send an annual statement to members to whom a statement was sent under section 113 indicating their accrued benefits as of a more recent date. However, the exemption provided by this paragraph does not dispense the pension committee from sending members the notice provided for in the second paragraph.
1989, c. 38, s. 112; 2000, c. 41, s. 73.