Annual statement draw down account

(1) A defined contribution pension plan that includes a draw down account must provide the following information to the owner of a draw down account on an annual basis– (a) name of the pension plan; (b) administrator’s contact information; (c) member’s name; 28 Private Pensions (d) member’s date of birth; (e) name of beneficiary on record; (f) account balance at the beginning and end of the year; (g) account transactions during the year; (h) personal rate of return, if there are investment options available to the members; and (i) fund rate of return or credited interest rate, if there are no investment options available to the members. (2) Within 30 days following the end of a calendar year, the administrator shall inform a draw down account owner of the maximum amount available for withdrawal in the next calendar year based on the owner’s age and account balance at the beginning of the year.