Tag: Pension Benefit Guaranty Corporation

PBGC Issues Guidance Designed to Keep Multiemployer Plans Solvent Longer

Regarding guidance to assist multiemployer pension plans that request PBGC review of alternative plan rules for satisfying employer withdrawal liability, the agency said for example, some proposals include incentives for employers to remain in the plan by providing discounted withdrawal liability that is conditioned on continued employer participation for a specified period of years.

PBGC Expands Missing Participants Program

Beginning in January, terminating DC plans will have the option of transferring missing participants’ benefits to PBGC instead of establishing an individual retirement account (IRA) at a financial institution.

PBGC Tries Mediation for Certain DB Plan Cases

“By providing an alternative dispute resolution option for employers who sponsor ongoing and terminated plans, we expect to save time and money for both the government and our stakeholders,” says PBGC Director Tom Reeder.

PBGC Announces Relief Due to Hurricane Maria

The relief applies to PBGC premiums, single-employer plan terminations, reportable event notices, annual employer reporting, requests for reconsideration or appeals and multiemployer plan deadlines.