Compliance June 22, 2018
PBGC Asks to Obtain Withdrawal Liability Information from Multiemployer Plans
The agency says it needs the information to estimate its multiemployer program liabilities for purposes of its financial statements.
Reported by Lee Barney
The Pension Benefit Guaranty Corporation (PBGC) plans to request that the Office of Management and Budget (OMB) approve a survey of terminated and insolvent multiemployer pension plans to obtain withdrawal liability information.
The agency says it needs the information to estimate its multiemployer program liabilities for purposes of its financial statements.The PBGC recently issued a report that says the likelihood the multiemployer program will remain solvent after FY 2026 is now less than 1%.
In its notice of intent to request OMB approval, the agency is asking for stakeholder comments about the survey.
The agency says it needs the information to estimate its multiemployer program liabilities for purposes of its financial statements.The PBGC recently issued a report that says the likelihood the multiemployer program will remain solvent after FY 2026 is now less than 1%.
In its notice of intent to request OMB approval, the agency is asking for stakeholder comments about the survey.
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