(1) Any employer who intends to establish a defined contribution plan shall prepare the rules for defined contribution plan containing the following matters after obtaining the consent of, or seeking opinions from, the representatives of employees pursuant to Article 4 (3) or Article 5 and shall report such rules to the Minister of Employment and Labor: <Amended on Apr. 13, 2021; Jan. 11, 2022>
1. Matters relating to the allocation of contributions;
2. Matters relating to the calculation and payment of contributions;
3. Matters relating to the operation of reserves;
4. Matters relating to the methods of operating reserves, supply of information, etc.;4-2. Matters relating to the default option scheme;
5. Matters relating to early withdrawal;
6. Matters relating to subparagraphs 1 through 3 and 6 through 10 of Article 13;
7. Other matters prescribed by Presidential Decree as necessary to operate the defined contribution plan.
(2) Where a defined contribution plan is established under paragraph (1), Article 14 shall apply mutatis mutandis to the period of contribution, Article 17 (1), (4) and (5) to the types of benefits, eligibility requirements for recipients and the procedures for and methods of paying benefits, and Article 18 to the notification of current status of operation. In such cases, "subparagraph 3 of Article 13" in Article 14 (1) shall be construed as "subparagraph 6 of Article 19, and "defined benefit plan" in Article 17 (1) as "defined contribution plan".