DISCLOSURE TO PARTICIPANTS.

SEC. 775. DISCLOSURE TO PARTICIPANTS. (a) Participant Notice Requirement.—Subtitle A of title IV of the Employee Retirement Income Security Act of 1974 (as amended by section 772 of this Act) is further amended by adding at the end the following new section: “SEC. 4011. NOTICE TO PARTICIPANTS. “(a) In General.—The plan administrator of a plan subject to the additional premium under section 4006(a)(3)(E) shall provide, in a form and manner and at such time as prescribed in regulations of the corporation, notice to plan participants and beneficiaries of the plan’s funding status and the limits on the corporation’s guaranty should the plan terminate while underfunded. Such notice shall be written in a manner so as to be understood by the average plan participant “(b) Exception.—Subsection (a) shall not apply to any plan to which section 302(d) does not apply for the plan year by reason of paragraph (9) thereof.” (b) Clerical Amendment.—The table of contents contained in section 1 of such Act is amended by inserting after the item relating to section 4010 (as added by section 772 of this Act) the following new item: “Sec. 4011. Notice to participants.— (c) Effective Date.—The amendment made by this section shall be effective for plan years beginning after the date of enactment of this Act.