PBGC Post New 4010 Filing Waiver Information

The PBGC has posted new Section 4010 filing waiver information in follow up to the release of Technical Update 08-4.

 Document Excerpt

ERISA Section 4010 Filing Waiver:  On December 19, 2008, PBGC issued Technical Update 08-3, which waives the filing under ERISA section 4010 for information years beginning on or after January 1, 2008 if:  (1)  the sole reason reporting would otherwise be required is because one or more plans sponsored by members of the filer’s controlled group have a funding target attainment percentage of less than 80 percent;  and (2)  the aggregate underfunding for plans sponsored by members of the filer’s controlled group is less than $15 million.  This waiver is identical to a waiver in PBGC’s proposed rule that would amend PBGC’s regulation on Annual Financial and Actuarial Information Reporting (29 CFR part 4043).  PBGC expects to issue a final rule in early 2009.  PBGC issued Technical Update 08-3 pending issuance of the final rule so that potential filers can make informed decisions about elections to waive carryover balances, which, for many plans, are due by year-end.  (12/19/08)

Link http://www.pbgc.gov/practitioners/whatsnew.html

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