§ 1310. Authority to require certain information
(a)
Information required
Each person described in subsection (b) of this section shall provide the corporation annually, on or before a date specified by the corporation in regulations, with—
(b)
Persons required to provide information
The persons covered by subsection (a) of this section are each contributing sponsor, and each member of a contributing sponsor’s controlled group, of a single-employer plan covered by this subchapter, if—
(1)
the funding target attainment percentage (as defined in subsection (d)) at the end of the preceding plan year of a plan maintained by the contributing sponsor or any member of its controlled group is less than 80 percent;
(c)
Information exempt from disclosure requirements
Any information or documentary material submitted to the corporation pursuant to this section shall be exempt from disclosure under section
552 of title
5, and no such information or documentary material may be made public, except as may be relevant to any administrative or judicial action or proceeding. Nothing in this section is intended to prevent disclosure to either body of Congress or to any duly authorized committee or subcommittee of the Congress.
(d)
Additional information required
(1)
In general
The information submitted to the corporation under subsection (a) shall include—
(A)
the amount of benefit liabilities under the plan determined using the assumptions used by the corporation in determining liabilities;
(e)
Notice to Congress
The corporation shall, on an annual basis, submit to the Committee on Health, Education, Labor, and Pensions and the Committee on Finance of the Senate and the Committee on Education and the Workforce and the Committee on Ways and Means of the House of Representatives, a summary report in the aggregate of the information submitted to the corporation under this section.