PLANSPONSOR Magazine has published a 2019 ERISA Plan Compliance Calendar that can help your clients track important due dates and requirements for their qualified plans.
New maximum civil penalties for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices have been announced.
The agency has included revised instructions regarding disaster relief to reflect recent changes made to PBGC’s practice.
The table is needed to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.
The PBGC insures DB plans covered under title IV of ERISA, and if a question arises about whether a plan is covered under title IV, the PBGC may make a coverage determination.
The Pension Analytics Group says the act would only temporarily mask the deficits, as opposed to reducing them and that the only solution is to reduce benefits across the board.
A vote on solutions was supposed to take place by today, but the co-chairmen of the Joint Select Committee on the Solvency of Multiemployer Pension Plans say they need more time to finish their work, given the scope of the challenge.
The “Changes to Note” section of the 2018 instructions highlights important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions.
A white paper published by a group of researchers and actuaries examines the pros and cons of creating a government-back low-interest loan program to support stressed multiemployer pensions.
The agency says the additional information is needed to help it determine a defined benefit (DB) plan sponsor’s ability to continue to maintain its DB plan.
DB plan sponsors are using a variety of strategies to manage increasing PBGC premiums, including accelerating funding and implementing pension risk transfer strategies.
The Pension Benefit Guaranty Corporation says that mergers can protect the benefits earned by workers and retirees and extend the solvency of troubled plans.
The agency included a list of common filing errors and provided details about those errors in a new Appendix.
The 6th Circuit said a district court rejected case law when it reasoned that the cases relied on by the Pension Benefit Guaranty Corporation (PBGC) arose under the Multiemployer Pension Plan Amendment Act (MPPAA) and did not address single-employer plans.
Mercer offers recommendations for retirement plan sponsors to search for missing participants.
The Pension Benefit Guaranty Corporation (PBGC) has established a web page, Staff Responses to Practitioner Questions.
They are seeking reductions as high as 50%.
Speaking to the Joint Select Committee on the Solvency of Multiemployer Pension Plans, one retired Teamster, whose wife is dying from pancreatic cancer, said he could easily end up losing his home and going bankrupt if his pension is cut by the 55% his plan’s trustees are seeking.
Over the last few years, all three federal agencies that regulate retirement plans have been focusing on missing participants; advisers have a key role to play when it comes to helping clients ensure compliance.