PBGC Issues Disaster Relief and Extensions

August 21, 2003 (PLANSPONSOR.com) - Relief for Pension Benefit Guaranty Corporation (PBGC) filing deadlines in areas affected by August's power blackout and July's severe storms have been issued by the federal private pension insurer.

>The PBGC, in technical updates 03-12 through 03-16, said the relief applies to those states in the Northeast corridor affected by last week’s blackout and to counties in Indiana, Ohio, Tennessee, and Texas hit hard by severe weather that began July 4.   The relief will waive certain penalties and extend certain deadlines.

>Plan sponsors claiming disaster relief for a PBGC filing should print or type the appropriate phrase per the applicable technical update, on the affected filing.   These phrase include:

  • Technical Update 03-12 – “July Storms & Floods – IN”
  • Technical Update 03-13 – ” July Storms & Floods – OH”
  • Technical Update 03-14 – ” Severe Storms – TN
  • Technical Update 03-15 – ” Claudette-TX”
  • Technical Update 03-16 – ” Northeast Blackout 2003″

More information on the technical updates can be found on the PBGC’s Web site at http://www.pbgc.gov/laws/techupdates/techupdt.htm .