Compliance October 25, 2011
PBGC Premiums Unchanged for 2012
October 25, 2011 (PLANSPONSOR.com) – The Pension Benefit Guarantee Corporation has updated its Web site to report that premiums paid by retirement plan sponsors to the agency will remain the same for 2012.
Reported by PLANSPONSOR staff
The per-participant flat-rate premium for plan year 2012 is $35 for single-employer plans and $9 for multiemployer plans (both unchanged from plan year 2011). By law, the premium rates are adjusted for inflation each year based on changes in the national average wage index, which was flat this year.
According to a Business Insurance report, in fiscal 2010, the last year for which information is available, the PBGC collected nearly $1.19 billion in base premiums in its single-employer insurance program.
The PBGC announcement is available at http://www.pbgc.gov/prac/whatsnew.html.