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Compliance June 16, 2010
PBGC Releases Guidance on Comprehensive Premium Filing Relief
June 16, 2010 (PLANSPONSOR.com) – The nation’s private-sector pension insurer has issued guidance about relief it is making available to plans intending to use the alternative premium funding target (APFT) in their comprehensive premium filing.
Reported by Fred Schneyer
The guidance is included in Technical Update 10-2 issued by the Pension Benefit Guaranty Corporation (PBGC). It is intended to apply to plans not checking the appropriate box on the comprehensive premium filing document.
PBGC said its Technical Update sets out the scope of the relief and the process for obtaining it.
As part of the relief, a plan that intended to elect to use the APFT will be deemed to have made a valid election if certain conditions are met, the PBGC said (see PBGC Unveils Premium Filing Checkbox Relief).
The PBGC guidance is here.