Benefits Forward

The PBGC issues a proposed regulation that would implement the provisions of the Pension Protection Act of 2006 changing the rules for determining benefits in a cash balance plan upon termination. Document Excerpt This proposed rule would implement provisions of the Pension Protection Act of 2006 (PPA 2006) that change the rules for determining benefits upon the [...]

The PBGC has released the interest rate applicable to November lump sum payments. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of November 2011 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 October 2011 was 1.75% [...]

The PBGC releases the interest rate for October lump sum payments. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of October 2011 is 1.75%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for September 2011 was 2.25% for lump [...]

Disaster Relief Annoucement 11-31 provides disaster relief for affected plans and parties in New York. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the Tropical Storm Lee that occurred beginning on September 7, 2011, in New York. Link http://www.pbgc.gov/res/other-guidance/dr/dr11-31.html

The PBGC releases the interest rates for valuing lump sums for October. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of October 2011 is 1.75%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for September 2011 was 2.25% for [...]

Disaster Relief Announcement 11-22 provides relief to affected parties in New York resulting from hurricane Irene. Document Excerpt Link http://www.pbgc.gov/res/other-guidance/dr/dr11-22.html

Disaster Relief Announcement 2011-21 provides relief for affected parties affected by huricane Irene in Puerto Rico. Document Except Link http://www.pbgc.gov/res/other-guidance/dr/dr11-21.html

The PBGC provides some relief from penalties for late 2011 premiums. Document Excerpt WASHINGTON-The Pension Benefit Guaranty Corporation announced today that it will waive penalties for late payment of 2011 premiums. The agency is also granting other premium-related relief as part of a continuing effort to ease regulatory burdens on its customers. Link http://www.pbgc.gov/documents/2011-23692.pdf Link [...]

The PBGC announces disaster relief relating to PBGC deadlines in response to flooding in South Dakota. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the flooding that occurred beginning on March 11, 2011, in South Dakota. Link http://www.pbgc.gov/res/other-guidance/dr/dr11-20.html

The PBGC announces disaster relief relating to PBGC deadlines in response to flooding in Nebraska. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the flooding that occurred beginning on May 24, 2011, in Nebraska. Link http://www.pbgc.gov/res/other-guidance/dr/dr11-18.html