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.
Tag: Pension Benefit Guaranty Corporation
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.
Raytheon is the latest large employer to enter into a group annuity transaction, transferring nearly $1 billion in benefit obligations to Prudential.
They are seeking reductions as high as 50%.
Rather than issuing stand-alone announcements each time IRS grants disaster relief, PBGC is streamlining the process by issuing a permanent announcement regarding its own disaster relief that comes into play each time IRS grants relief in response to a particular disaster.
In its notice of intent to request OMB approval, the agency is asking for stakeholder comments,
Senator Sherrod Brown calls it imperative "to find a bipartisan solution to the crisis threatening 1.3 million Americans."
Reeder, who is in the middle of his five-year term, has been advocating for changes to help the PBGC’s programs, but the president has nominated Gordon Hartogensis—who, the senators say, seems to have little to no prior experience relevant to the pension system and the work of the PBGC—to replace Reeder.
The agency says this consultation will assist it and the plan sponsor in exploring whether a waiver of one or more filing obligations is appropriate, identifying potential issues preventing a distress termination of a particular plan, and may indicate that commencement of an agency-initiated termination of the pension plan is warranted.
The Pension Benefit Guaranty Corporation (PBGC) is issuing guidance to assist multiemployer pension plans that request PBGC review of alternative plan rules for satisfying employer withdrawal liability.
The amendments to regulations on guaranteed benefits and asset allocation would incorporate statutory changes to the rules for participants with certain ownership interests in a plan sponsor.
However, the agency says it is uncommon for it to assess information penalties.