According to the publication, post-event reporting for failure to make quarterly contributions for 2008 plan years is waived if:
- The employer had 100 or fewer participants in its defined benefit plans for the 2007 plan year; or
- The employer had 500 or fewer participants in its defined benefit plans for the 2007 plan year and a Participant Notice for the plan under ERISA section 4011 would not be required for the 2007 plan year under part 4011 of the PBGC’s regulations in effect as of December 31, 2006.
For purposes of this waiver, the number of participants must be determined in a manner consistent with section 302(d)(6) of ERISA as in effect before amendment by the Pension Protection Act of 2006, and the employer must have met the applicable participant count requirement on each day of the 2007 plan year, the PBGC said.
Technical Update 08-2 is here .
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