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Compliance June 8, 2004
PBGC Provides Interest Rate Reporting Guidance
June 8, 2004 (PLANSPONSOR.com) - The Pension Benefit
Guaranty Corporation (PBGC) has provided plan sponsors with
guidance on how to report the move from the use of a 30-year
Treasury Yield to a Corporate Bond Index.
Reported by Eric Hazard
>Technical Update 04-3 explains how the provisions of the Pension Funding Equity Act of 2004 that relate to the PBGC’s variable-rate premium interest rate apply to PBGC reporting and disclosure requirements (See Whew! Bush Signs Pension Relief ) . This Technical Update 04-3 also coordinates the relief provided by the Act with the reporting relief provided in previous PBGC Technical Updates.
>The PBGC says the “reporting relief provided in these three Technical Updates ensures that those who are subject to PBGC reporting requirements tied to PBGC premium calculations will be able to rely on those calculations to determine their reporting obligations.”
The Technical Update is available at http://www.pbgc.gov/laws/techupdates/tu04-03.htm .