Trump’s 2021 Budget Proposes Increasing Multiemployer PBGC Premiums
The premiums would increase by $26 billion over 10 years.
Tag: Pension Benefit Guaranty Corporation (PBGC)
First Facilitated Merger of Multiemployer Plans Approved by PBGC
Under the Multiemployer Pension Reform Act, if one or more of the plans in the merger is in critical and...
PBGC Issues Premium Filing Instructions for 2020 Plan Years
Premiums have gone up, and the agency says it has simplified reporting requirements for risk transfer activities.
Officials Issue New Items for DB Plan Sponsors
The PBGC has issued a final rule regarding pension plans undergoing distress or involuntary termination, and the OSFI has released...
Information Copies of 2019 Form 5500 Published by DOL
Among other notable changes, the Form 5500’s Line 23 has been revised to eliminate mortality table options that are not...
PBGC Proposes New Methods for Counting Inactive Multiemployer Plan Participants
The PBGC anticipates that providing plans with three available counting methods will allow each plan to choose the one that...
PBGC to Assume Responsibility of Health System’s Retirement Plans
This protection by the PBGC is one reason for a string of lawsuits that challenge other nonprofit healthcare systems’ retirement...
Legislation to Help Multiemployer Plans Reintroduced
The bill would funnel money to the PBGC from imposed fees on financial companies seeking a DOL exemption in order...
PBGC Announces Premium Rates for 2020
The agency notes that there are no scheduled increases (other than indexing) for years after 2019.
PBGC Issues Proposed Rules About Benefit Payments
The agency will consider payments prior to plan terminations when calculating benefits, and it proposed to change its assumptions for...
PBGC Releases New Forms Relating to ERISA Section 4062(e)
In 2014, President Barack Obama signed into law major changes to Section 4062(e), which requires companies with defined benefit (DB)...
Lawmakers Demand Help for Union Pensions
The former Republican Speaker of the House has teamed up with former Representative Joe Crowley to advocate for a solution...
PBGC Multiemployer Program Continues Move Toward Insolvency
PBGC Director Gordon Hartogensis says if Congress fails to act soon then after year 2025, any future revenue to the...
PBGC Updates ERISA Title IV Determination Instructions
The Pension Benefit Guaranty Corporation has published a new form and instructions with the goal of streamlining and simplifying the...
PBGC Proposes Changes to Several Regulations
The proposed rulemaking would make technical corrections, clarifications, and improvements to its regulations on Reportable Events and Certain Other Notification...
Minor Changes to PBGC Reportable Events Instructions Approved
The Office of Management and Budget (OMB) has approved that all reportable events filings include controlled group information, company financial...
PBGC Proposes New Coverage Determination Forms
Plan sponsors may submit a determination of coverage request for four common types of DB plans.
Valuation and Reporting Requirements for Insolvent Multiemployer Plans Amended
A final rule from the Pension Benefit Guaranty Corporation (PBGC) allows smaller plans terminated by mass withdrawal to perform actuarial...
Senate Confirms Gordon Hartogensis as Director of PBGC
Family trust trustee with Senate connections named 16th director of pensions lifeboat.
Pragmatic Strategies to Reduce PBGC Premiums This Year
Pension plan sponsors have taken various actions to reduce their PBGC premiums in the last year, resulting in a decline...