According to a Sears announcement, following the making of a $407 million contribution, it will be nearly relieved of the obligation to make further contributions to the pension plans for approximately two years.
Tag: Pension Benefit Guaranty Corporation
“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.
John Lowell, Atlanta-based partner and actuary for October Three, shares solutions for health care organizations to possibly decrease their PBGC premium payments.
A technical update provides an alternative method for determining whether reporting an attrition event to the PBGC is required.
The agency is proposing that termination forms may be filed electronically and that plan sponsors be offered a pre-filing consultation.
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.