PBGC Issues 3 Disaster Relief Announcements

February 3, 2004 (PLANSPONSOR.com) - The nation's private pension insurer has given plan sponsors and plan administrators in several areas of the country hit by natural disasters an extension to file their Form 5500.

>The Pension Benefit Guaranty Corporation (PBGC), in Disaster Relief Announcements 04-1, 04-2, and 04-3, announced that the extensions applied to plan administrators and sponsors in the designated areas as well as plan sponsors dealing with service providers, banks, or third party administrators in those areas.

>For plan sponsors affected by severe storms and flooding in Virginia during the period November 18-19, 2003,  the PBGC said any premium filing required to be made on or after November 18, 2003, and before February 9, 2004, will be timely so long as the filing is made by February 9, 2004.   The extension involves companies in the following counties: Bland, Buchanan, Giles, Smyth and Tazewell and the independent City of Galax.

The PBGC is also extending the deadline in response to the December 22, 2003 earthquake in California.  

The agency said it will treat as timely any premium filing required to be made for the plan on or after December 22, 2003, and before March 12, 2004, if the filing is made by March 12, 2004.   The extension is applicable in San Luis Obispo county in California.

Similarly, the PBGC is extending filing deadlines for those affected by Tropical Cyclone Heta during the period January 2-6, 2004, in the Territory of American Samoa.     Affected areas in the Territory of American Samoa are the Island of Tutuila and the Manu’a Islands .   The PBGC will treat as timely any premium filing required to be made on or after January 2, 2004, and before March 22, 2004 , if made by March 22 , 2004.

>More information on the disaster relief can be found on the PBGC’s Web site at   http://www.pbgc.gov/laws/techupdates/disasterRelief.htm