Employee Benefit Security Act

[AI summary unavailable — showing source text] Employee Benefit Security Act - Title I: Fiduciary Responsibility and Disclosure - Provides that this title shall apply to any employee benefit plan if it is established or maintained by any employer engaged in commerce or in any industry or activity affecting commerce, or by any industry or activity affecting commerce. Provides that the administrator of an employee benefit plan shall cause to be published in accordance with this Act to each participant or beneficiary covered thereunder a description of the plan and an annual financial report. States that such description shall be published within 120 days after such plan is established and shall be written in a manner calculated to be understood by the average plan participant. Provides that an annual report shall be published with respect to any employee beneift plan to which this title applies. Sets forth the information that shall be contained in such report. Provides that the administrator of any employee benefit plan subject to this Act shall file with the Secretary of Labor a copy of the plan description. States that the Secretary may reject any such filing after notice, hearing, and determination by the Secretary that such …