Compliance May 30, 2007

PBGC to Publish Proposal on Amended Premiums

May 30, 2007 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) is publishing a proposed rule to amend the agency's regulations on premium rates and payment of premiums, as prompted by the Pension Protection Act.
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According to a press release from the agency, the amendments would implement the changes required by the Pension Protection Act (PPA) that change the variable-rate premium for plan years beginning on or after January 1, 2008.

The PBGC said in the release that the other changes in the PPA that deal with the PBGC will be addressed in later proceedings.

The proposed regulation will be in the May 31, 2007 Federal Register, with proposed comments due by June 30, 2007.

The Pension Benefit Guaranty Corporation (PBGC) issued and explanation last August on how the Pension Protection Act (PPA) affects how employers decide if a Participant Notice is required (See ” PBGC Issues Updates on Participant Notices .”)

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