Any employer who intends to establish a defined benefit plan shall prepare the rules for defined benefit plan stipulating the following matters with the consent of, or after seeking opinions from, the representatives of employees under Article 4 (3) or Article 5 and shall report such rules to the Minister of Employment and Labor: <Amended on Apr. 13, 2021>
1. Matters relating to the selection of a retirement pension trustee;
2. Matters relating to participants;
3. Matters relating to the period of contribution;
4. Matters relating to the amount of benefits;
5. Matters relating to the securing of ability to pay benefits;
6. Matters relating to the types of benefits, eligibility requirements, etc. of recipients;
7. Matters relating to the conclusion and termination of contracts to provide operational management services under Article 28 and asset management services under Article 29, and transfer of contracts following the termination thereof;
8. Matters relating to notification of the current state of operation;
9. Matters relating to the occurrence of a ground for the payment of benefits, such as the retirement of a participant, and procedures for the payment of benefits;
10. Matters relating to the grounds, procedures, etc. for the abolition and suspension of the retirement pension plan;10-2. Matters relating to the calculation and payment of contributions;
11. Other matters prescribed by Presidential Decree to operate the defined benefit plan.