PBGC Guidance

Notice of Modified Systems of Records

PBGC releases proposed rules on changes to the system of records notices to: amend a general routine use, rescind a duplicative system, establish a new system of records for collection of data from the agency website and other proposed changes. Document Excerpt Pursuant to the Privacy Act of 1974, the Pension Benefit Guaranty Corporation (PBGC) […]

Missing Participant Program Final Rule

The PBGC has released its final rule governing its expanded Missing Participant program. Document Excerpt SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) administers a program to hold retirement benefits for missing participants and beneficiaries in terminated retirement plans and to help those participants and beneficiaries find and receive the benefits being held for them. The […]

Allocation of Assets in Single-Employer Plans: Valuation of Benefits and Assets

This regulation amends existing PBGC regulations on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in plans in distress or involuntary termination with valuation dates falling in 2018. Document Excerpt Link https://www.federalregister.gov/documents/2017/12/20/2017-27361/allocation-of-assets-in-single-employer-plans-valuation-of-benefits-and-assets-expected-retirement

PBGC Guarantee Limits for 2018

The PBGC releases the guarantee limit for 2018 for single employer plans. Document Excerpt Link https://www.pbgc.gov/news/press/releases/pr17-08

Pilot Mediation Project Launched

In PBGC Release 17-7, the agency announces the launch of a pilot mediation program to resolve certain termination liability collection and Early Warning Program cases. Document Excerpt WASHINGTON – The Pension Benefit Guaranty Corporation announced a new pilot program to offer mediation in certain Termination Liability Collection and Early Warning Program cases. PBGC’s Pilot Mediation […]

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 […]

PBGC Disaster Relief Announcement in the wake of Harvey

PBGC releases Disaster Relief Announcement 17-09 in the wake of hurricane Harvey and its flooding. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to severe storms and flooding from Hurricane Harvey that began on August 23, 2017, in Texas. Link https://www.pbgc.gov/prac/other-guidance/dr/dr17-09

PBGC Projections Report

The PBGC’s report on projected solvency is released. It projects that the PBGC’s multiemployer pension plan program will likely run out of money by the end of 2025 while the financial picture for single-employer plans will likely continue to improve. Document Excerpt This year’s projections for PBGC’s multiemployer program show less uncertainty regarding the year […]

Qs and As on Risk Mitigation and Early Warning Program

The PBGC releases a series of Questions and Answers on its Risk Mitigation and Early Warning Program. Document Excerpt As part of posting our updated Risk Migration & Early Warning Program information, we asked stakeholders for feedback. Below are some Questions and Answers for the most common questions and comments we received. Link https://www.pbgc.gov/prac/risk-migration-q-and-a

PBGC Penalties Updated

The PBGC announces updates to its civil penalties. Document Excerpt The Pension Benefit Guaranty Corporation is required to amend its regulations annually to adjust the penalties provided for in sections 4071 and 4302 of the Employee Retirement Income Security Act of 1974. This action is being taken in accordance with the Federal Civil Penalties Inflation […]

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