Active Participant Reduction Reportable Event

The PBGC has released a Technical Update providing guidance on the active participant reduction reportable event.

Document Excerpt

This Technical Update 17-1 provides Pension Benefit Guaranty Corporation (“PBGC”) guidance on compliance with the active participant reduction event requirements of section 4043(c)(3) of the Employee Retirement Income Security Act of 1974 (“ERISA”) and PBGC’s regulation on Reportable Events and Certain Other Notification Requirements (29 CFR part 4043.23(a)).

PBGC is providing an alternative method for determining whether reporting an attrition event to PBGC is required under § 4043.23(a)(2) to avoid possible duplicative reporting.

Link
https://www.pbgc.gov/prac/other-guidance/tu/technical-update-17-1-active-participant-reduction-reportable-events

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