Benefits Forward

The PBGC has announced the interest rate for lump sum payments in June. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of June 2012 is 1.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for May 2012 was 1.50% [...]

The PBGC releases the interest rate applicable for lump sums payable in May. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of May 2012 is 1.50%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for April 2012 was 1.25% [...]

The PBGC publishes a final procedural rule that amends the agency’s administrative review regulations to make assessments of information penalties subject to reconsideration. Document Excerpt On April 16, 2012, PBGC published a final procedural rule that amends PBGC’s administrative review regulation to make assessments of information penalties subject to reconsideration.  This rule is associated with [...]

The PBGC releases the interest rate for lump sums payable in April. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of April 2012 is 1.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for March 2012 was 1.25% for [...]

The PBGC provides extended deadlines and penalty relief for plans affected by storms and flooding in Kentucky. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the Severe Storms, Tornadoes, Straight-Line Winds and Flooding that began February 29, 2012, in Kentucky. Link http://www.pbgc.gov/res/other-guidance/dr/dr12-02.html

The PBGC announces relief from certain PBGC filing deadlines and penalties for plans affected by storms and flooding in parts of Alabama. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the Severe Storms, Tornadoes, Straight-Line Winds and Flooding that occurred January 22, 2012, in Alabama. [...]

The PBGC has released the interest rate for lump sum payments in April. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of April 2012 is 1.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for March 2012 was 1.25% [...]

The PBGC releases the interest rates for valuing lump sums payable in March. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of March 2012 is 1.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for February 2012 was 1.25% [...]

In response to communications from American Airlines to its employees regarding concerns in the event it should terminate its pension plan, the PBGC has written its own communication and analysis. Document Excerpt WASHINGTON—The Pension Benefit Guaranty Corporation today pushed back on misleading statements to American Airlines employees by its management about their pension plans. Link [...]

The PBGC has revised its rules to reflect the interest rate to be used in paying benefits from a terminated plan in February, 2012. Document Excerpt This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in February [...]