Benefit Restrictions–Updated Present Value

The PBGC has issued updated information on its maximum guaranteed benefit for purposes of the benefit restrictions under Section 436.

Document Excerpt

Benefit Restrictions – Updated Present Value of PBGC Maximum Guarantee: Although PBGC’s maximum guarantee is not increasing for plans terminating in 2011, the present value of the maximum guarantee for purposes of section 436(d)(3)(A)(ii) of the Internal Revenue Code (IRC) and section 206(g)(3)(C)(i)(II) of ERISA is changing for 2011. The assumptions used to determine the present value vary each year. Technical Update 07-04 describes the methodology used to determine the present value and explains that a table will be posted for each calendar year. On October 26, 2010 PBGC posted the 2011 table.


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