Proposed Rule on Shutdown Benefits

The  PBGC issues a proposed rule to amend its regulation on Benefits Payable in Terminated Single-Employer Plans.

Document Excerpt  That regulation sets forth rules on PBGC’s guarantee of pension plan benefits, including rules on the phasein of the guarantee. The amendments implement section 403 of the Pension Protection Act of 2006, which provides that the phase-in period for the guarantee of benefits that are contingent upon the occurrence of an unpredictable contingent event,’’  such as a plant shutdown.


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