Tag: Pension Benefit Guaranty Corporation

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.

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.

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.