Get Summary Annual Reports

There is a DOL Advisory Opinion that says you have to send the SAR even if you have no participants due to the plan's termination. That advisory opinion deals with a terminated welfare plan that has some money left over and it may be that the same rule does not apply to, for example, a 401(k) plan.

Basic Financial Information Value of plan assets at beginning and year-end. Increase/decrease in plan assets over the year. Total income, including employer and employee contributions, realized gains/losses, and earning from investments. Total expenses including benefits paid, administrative expenses and other expenses.

Required Distribution Methods. Plan administrators can distribute the SAR using various methods, such as mail, email, or posting on a secure website, as long as they comply with DOL guidelines for electronic delivery.

An annual report for a publicly traded company typically contains highlights of the company's activities and performance during the previous year, future goals and objectives, a letter to shareholders from the CEO or company president, an auditor's report, and detailed financial statements.

Employees with “regular access” to electronic media at work: Employers can electronically deliver the SAR to employees with “regular access” to electronic media at work if they accompany the SAR with a notice that briefly describes the document, how it can be accessed, a statement that employees have the right to ...

Your executive summary should not be a summary of your entire annual report. It should focus on the most important and relevant aspects of your organization's performance and strategy. You should highlight your key achievements, challenges, and goals in a clear and concise way.

There is a DOL Advisory Opinion that says you have to send the SAR even if you have no participants due to the plan's termination. That advisory opinion deals with a terminated welfare plan that has some money left over and it may be that the same rule does not apply to, for example, a 401(k) plan.

Quick definition: the Summary Annual Report (SAR) is a one-page summary of Form 5500 and the plan's finances that gets distributed to a plan's participants. The SAR gets its name from the Form 5500, often called the Annual Report. Almost all of the information in your SAR will come from this notorious plan document.