Current through Register Vol. 54, No. 49, December 7, 2024
Section 23.79 - Pension and retirement plans-Item 9If action is to be taken with respect to any pension or retirement plan of the insurer, the following information shall be furnished:
(1) A brief description of the material features of the plan, each class of persons who will participate in the plan, the approximate number of persons in each class, and the basis of their participation. Such description shall include all of the following: (i) The approximate total amount necessary to fund the plan with respect to past services, the period over which the amount is to be paid, and the estimated annual payments necessary to pay the total amount over that period.(ii) The estimated annual payment to be made with respect to current services.(iii) The amount of the annual payments to be made for the benefit of each person named in Item 7 of Schedule A, as described in § 23.77 (relating to remuneration and other transactions-Item 7), directors and officers as a group, and employes as a group.(2) If the plan to be acted upon may be amended (other than by a vote of security holders) in a manner which would materially increase its cost to the insurer or to materially alter the allocation of the benefits as between the groups as specified in paragraph (1)(iii) the nature of the amendments shall be specified.