PBGC to make Changes and Corrections to Various Regulations

Document Excerpt

Miscellaneous Corrections, Clarifications, and Improvements Proposed Rule: PBGC is proposing to make clarifications, corrections and improvements to four of its regulations. The proposed rule would amend:

Reportable Events – eliminate possible duplicative reporting of active participant reductions, clarify when a liquidation occurs, and provide additional examples for certain events;

Financial and Actuarial Information Reporting – eliminate a requirement to submit individual financial information for each controlled group member and add a new reporting waiver;

Standard Terminations – provide more time to file a post-distribution certification; and Premium Rates–emphasize that a plan does not qualify for the variable rate premium exemption for the year in which it completes a standard termination if it engages in a non-deminimis spinoff in the same year.



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