PBGC Guidance

Proposed Submission of Information Collections for OMB Review

Document Excerpt SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) approve, under the Paperwork Reduction Act, collections of information under PBGC’s regulation on Reportable Events and Certain Other Notification Requirements with modifications. This notice informs the public of PBGC’s intent and solicits public comment on […]

PBGC Announces 2020 Guarntee Limits

Document Excerpt Link https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee

ERISA Section 4010 Financial Reporting Waiver

Document Excerpt ERISA 4010 Financial Reporting Waiver: To reduce the burden of reporting under PBGC’s 4010 regulation, PBGC is waiving the § 4010.9(b)(2) requirement to report certain financial information separately for each non-exempt member of the filer’s controlled group. See PBGC Technical Update 19-1 for details and conditions. (10/16/2019) Link https://www.pbgc.gov/prac/whatsnew?utm_medium=email&utm_source=govdelivery

Premium Rates for 2020

Document Excerpt Link https://www.pbgc.gov/prac/prem/premium-rates

Proposed Regulations on Administrative Review of Agency Decisions

Document Excerpt The Pension Benefit Guaranty Corporation is amending its regulation on Rules for Administrative Review of Agency Decisions. The proposed rule would clarify and make changes to the review process for certain agency determinations and the procedures for requesting administrative review. Link https://www.federalregister.gov/documents/2019/10/04/2019-21495/administrative-review-of-agency-decisions

Proposed Regulations on Benefit Payments and Allocation of Assets

Document Excerpt This proposed rule would make changes to PBGC’s regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans. The changes would make clarifications and codify policies involving payment of lump sums, changes to benefit form, partial benefit distributions, and valuation of plan assets. Link https://www.federalregister.gov/documents/2019/09/30/2019-21088/benefit-payments-and-allocation-of-assets

PBGC Proposed Regulations on Lump Sum Assumptions

Document Excerpt This proposed rule would modify the assumptions the Pension Benefit Guaranty Corporation (PBGC) uses to determine de minimis lump sum benefits in PBBC-trusteed terminated single-employer defined benefit pension plans and would discontinue monthly publication of PBGC’s lump sum interest rate assumption. Link https://www.federalregister.gov/documents/2019/09/30/2019-21087/lump-sum-payment-assumptions

PBGC Releases New Section 4062(e) Form

Document Excerpt Link https://www.pbgc.gov/prac/reporting-and-disclosure/erisa-section-4062-e

Proposed Submission for OMB Review and Comment for 5500

Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval (with modifications), under the Paperwork Reduction Act of 1995, of its collection of information for Annual Reporting under OMB control number 1212-0057, which expires on January 31, 2022. This notice informs the public of […]

PBGC Annual Projections Report

Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) insures pension participants against loss of some or all of their pension benefit when a private sector pension plan fails. PBGC operates two separate insurance programs, one for Single-Employer and one for Multiemployer defined benefit pension plans. The amount of benefits guaranteed, the point at which the […]

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