Multiprotection of Employee Retirement Income and Tax Act (MERIT Act)

[AI summary unavailable — showing source text] Multiprotection of Employee Retirement Income and Tax Act (MERIT Act) - Title I: Fiduciary Responsibility and Disclosure - States that this title shall apply to any employee benefit plan if it is established or maintained: (1) by any employer engaged in commerce or in any industry or activity affecting commerce, or (2) by any employee organization in which employees engaged in commerce or in any industry or activity affecting commerce, or (3) by both. Requires that a description of any employee benefit plan shall be furnished to the Secretary of the Treasury, participants in such plan, and the beneficiaries within one hundred and twenty days after such plan becomes subject to this Act. Directs the administrator of an employee benefit plan to engage an independent qualified public accountant to conduct an examination of the books and records of the plan as may be necessary to enable him to form an opinion as to whether the financial statement required to be filed under this Act is accurate. Sets forth the requirements for such financial statements. Requires the administrator of any employee benefit plan subject to this Act to file with the Secretary a copy of the plan description at…