The nation’s private pension insurer said it will still grant case-by-case waivers where appropriate.
The agency noted that automatic waivers have been granted by Technical Update for 2008 and prior years where the employer had 100 or fewer participants covered by its plans, or had between 100 and 500 participants covered by its plans and had missed contributions to a plan that was well-funded. It said it has seen that many plans that did not report missed quarterlies because of the automatic waiver later terminated with unfunded liabilities, and that if missed-quarterly reports had been made, it might have been able to work with plan sponsors to avoid the underfunded terminations.
The announcement said that revised forms for 2009 reportable events will be posted soon on PBGC’s Web site at www.pbgc.gov .
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