Employee Benefits Protection Act

[AI summary unavailable — showing source text] Employee Benefits Protection Act - Declares it to be the policy of this Act to establish fiduciary standards of conduct in persons having the power or duty to control and dispose of employee benefit funds. Permits a person to maintain a civil action for recovery of benefits due him notwithstanding the fact that the plan in which he is enrolled has no more than 15 enrollees. Reasserts the duty imposed on the administrator of an employee benefit plan to publish and distribute to each participant or beneficiary of that plan an annual financial report, a plan description, and a report upon termination of the plan. Sets forth the criteria for adequacy of a plan description; and vests authority for making rules and regulations concerning this reporting requirement in the Secretary of Labor. Extends the reporting requirement to the administrator of any employee benefit plan providing for an employee benefit fund subject to the obligations set forth in this Act. Requires an annual audit of any employee benefit fund established in connection with an employee benefit plan. Enumerates the required disclosures which shall appear in the annual report, and sets forth the publication and distribu…