What Is an ERISA Plan Number and Where Do You Find It?
Learn about the ERISA plan number, its significance for employee benefit plans, and practical steps to find this essential identifier.
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law establishing minimum standards for most voluntarily established retirement and health plans in private industry. This legislation aims to protect individuals enrolled in these plans, ensuring their benefits are managed properly. Within this framework, an ERISA plan number serves as a distinct identifier for each specific benefit plan.
Understanding the ERISA Plan Number
An ERISA plan number is a unique three-digit identifier assigned to an employee welfare benefit plan or pension benefit plan. This number is separate from an employer’s Employer Identification Number (EIN) or other tax identification numbers. Its primary purpose is to distinguish one benefit plan from another, even if multiple plans are sponsored by the same employer.
The Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) utilize this number to track and regulate individual plans, ensuring compliance with federal requirements. This specific identifier is a mandatory data point when plans submit their annual financial reports to the government.
Each ERISA-covered plan, whether a retirement plan like a 401(k) or a health benefit plan, is assigned a unique three-digit number. This number, combined with the plan sponsor’s nine-digit EIN, creates a distinct 12-digit identifier for the specific plan. This combination allows regulatory bodies to precisely identify and monitor individual plan operations and financial activities.
Role of the ERISA Plan Number in Plan Administration
The ERISA plan number is fundamental to the proper administration and regulatory oversight of employee benefit plans. Plan administrators frequently use this number when preparing and filing the annual Form 5500, which is a detailed report providing information about the plan’s financial condition, investments, and operations. This reporting requirement applies to most ERISA-covered plans, with some exceptions for smaller plans.
Plan administrators also rely on the ERISA plan number when communicating with federal agencies such as the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation. Any inquiries, filings, or compliance-related submissions regarding a specific plan must include its unique identifier to ensure accurate record-keeping and processing. For plan participants, this number helps them precisely identify their specific benefit plan when seeking information, inquiring about their benefits, or filing a complaint with the appropriate regulatory body.
Locating Your ERISA Plan Number
Individuals seeking their ERISA plan number have several reliable sources to consult. A primary resource is the Summary Plan Description (SPD), a document that plan administrators must provide to all participants. The SPD offers a comprehensive overview of the plan, including its benefits, rights, and responsibilities, and typically contains the ERISA plan number.
Another accessible source for the ERISA plan number is the annual Form 5500 filing. These filings are public records and can be accessed through the Department of Labor’s EFAST2 website. By searching for the employer’s name or EIN, individuals can often locate the most recent Form 5500 for a specific plan, which prominently displays the ERISA plan number. If these options are not readily available, contacting the plan administrator or the human resources department of the employer sponsoring the plan can provide the necessary information.