Pension Benefit Guaranty Corporation – Federal Register Recent Federal Regulation Documents

Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2024-13047
Type: Rule
Date: 2024-06-14
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates of July 1-July 30, 2024. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.
Valuation Assumptions and Methods
Document Number: 2024-11819
Type: Rule
Date: 2024-06-06
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule updates the interest, mortality, and expense assumptions used to determine the present value of benefits for a single-employer pension plan under subpart B of the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single- Employer Plans, to determine components of mass withdrawal liability for a multiemployer pension plan, and for other purposes.
Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants
Document Number: 2024-10969
Type: Notice
Date: 2024-05-20
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval of a collection of information (OMB Control Number 1212-0055; expires August 31, 2024) under the Paperwork Reduction Act. The purpose of the information collection is to enable PBGC to pay benefits to participants and beneficiaries. This notice informs the public of PBGC's request and solicits public comment on the collection.
Proposed Submission of Information Collection for OMB Review; Comment Request; Mergers and Transfers Between Multiemployer Plans
Document Number: 2024-10165
Type: Notice
Date: 2024-05-09
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in PBGC's regulation on Mergers and Transfers Between Multiemployer Plans. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates
Document Number: 2024-08081
Type: Notice
Date: 2024-04-16
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information (OMB control number 1212-0030, expiring July 31, 2024). The purpose of this information collection is to survey insurance company rates for pricing annuity contracts to obtain information needed to set actuarial assumptions. The American Council of Life Insurers conducts this voluntary survey for PBGC. This notice informs the public of PBGC's request and solicits public comment on the collection.
Submission of Information Collections for OMB Review; Comment Request; Reportable Events; Notice of Failure To Make Required Contributions
Document Number: 2024-07444
Type: Notice
Date: 2024-04-09
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of collections of information under PBGC's regulation on Reportable Events and Certain Other Notification Requirements (OMB control numbers 1212-0013 and 1212-0041, expiring July 31, 2024) without modifications. This notice informs the public of PBGC's request and solicits public comment on the collections.
Request for Information-SECURE 2.0 Section 319-Effectiveness of Reporting and Disclosure Requirements
Document Number: 2024-07018
Type: Proposed Rule
Date: 2024-04-03
Agency: Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Pension Benefit Guaranty Corporation, Agencies and Commissions, Department of the Treasury
This document extends the comment period for the request for information entitled "SECURE 2.0 Section 319Effectiveness of Reporting and Disclosure Requirements" that was published in the January 23, 2024, issue of the Federal Register. The comment period for the request for information, which had been scheduled to close on April 22, 2024, is extended 30 days to May 22, 2024.
Submission of Information Collection for OMB Review; Comment Request; Special Financial Assistance Information
Document Number: 2024-06589
Type: Notice
Date: 2024-03-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval under the Paperwork Reduction Act of a collection of information contained in PBGC's regulation on special financial assistance. The purpose of the information collection is to gather information necessary for PBGC to operate this special financial assistance program. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2024-05249
Type: Rule
Date: 2024-03-13
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2024. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.
Proposed Submission of Information Collection for OMB Review; Comment Request; Locating and Paying Participants
Document Number: 2024-02518
Type: Notice
Date: 2024-02-08
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval of a collection of information (OMB Control Number 1212-0055; expires August 31, 2024) under the Paperwork Reduction Act. The purpose of the information collection is to enable PBGC to pay benefits to participants and beneficiaries. This notice informs the public of PBGC's request and solicits public comment on the collection.
Proposed Submission of Information Collection for OMB Review; Comment Request; Survey of Nonparticipating Single Premium Group Annuity Rates
Document Number: 2024-02072
Type: Notice
Date: 2024-02-02
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information (OMB control number 1212-0030, expiring July 31, 2024). The purpose of this information collection is to survey insurance company rates for pricing annuity contracts to obtain information needed to set actuarial assumptions. The American Council of Life Insurers conducts this voluntary survey for PBGC. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Proposed Submission of Information of Collections for OMB Review; Comment Request; Reportable Events; Notice of Failure To Make Required Contributions
Document Number: 2024-01964
Type: Notice
Date: 2024-02-01
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of collections of information under PBGC's regulation on Reportable Events and Certain Other Notification Requirements (OMB control numbers 1212-0013 and 1212-0041, expiring July 31, 2024) without modifications. This notice informs the public of PBGC's intent and solicits public comment on the collections of information.
Performance Review Board Members
Document Number: 2024-01361
Type: Notice
Date: 2024-01-24
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) announces the appointment of members of the PBGC Performance Review Board.
Request for Information-SECURE 2.0 Section 319-Effectiveness of Reporting and Disclosure Requirements
Document Number: 2024-01077
Type: Proposed Rule
Date: 2024-01-23
Agency: Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Pension Benefit Guaranty Corporation, Agencies and Commissions, Department of the Treasury
The Department of the Treasury (Treasury Department), the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (Labor Department), and the Pension Benefit Guaranty Corporation (PBGC) are publishing this Request for Information to develop a public record for purposes of the directive in the SECURE 2.0 Act of 2022 (SECURE 2.0). Specifically, this Request for Information addresses section 319 of SECURE 2.0, requiring that these agencies review the existing reporting and disclosure requirements for certain retirement plans under the Employee Retirement Income Security Act of 1974, as amended (ERISA) and the Internal Revenue Code (Code) that are applicable to each agency. Following this review, the agencies are to report to Congress, no later than December 29, 2025, concerning the effectiveness of the reporting and disclosure requirements. The report will include recommendations on consolidating, simplifying, standardizing, and improving such requirements with the dual goals of reducing compliance burdens and ensuring plan participants' and beneficiaries' timely receipt and better understanding of the information they need to monitor their plans, prepare for retirement, and get the benefits they have earned. The report will also consider how participants and beneficiaries are providing preferred contact information, the methods by which plan sponsors and plans are furnishing disclosures, and the rate at which participants and beneficiaries are receiving, accessing, understanding, and retaining disclosures. Consistent with the directive in section 319 of SECURE 2.0, this Request for Information focuses generally on the overall effectiveness of the reporting and disclosure frameworks in ERISA and the Code. Responses to this Request for Information will inform the agencies in preparation of the required report to Congress and in any future action taken by the agencies to enhance the effectiveness of existing requirements.
Privacy Act of 1974; Systems of Records
Document Number: 2024-00859
Type: Notice
Date: 2024-01-18
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pursuant to the Privacy Act of 1974, the Pension Benefit Guaranty Corporation (PBGC), at the direction of the Office of Information and Regulatory Affairs, is merging all pertinent General Routine Uses from the Prefatory Statement of General Routine Uses into the Routine Uses sections of the following system of records notices (SORN): PBGC-17, Office of Inspector General Investigative File System, and PBGC-28, Physical Security and Facility Access. Additionally, PBGC is making administrative updates to the official addresses to reflect PBGC's new headquarters location and to pertinent system locations, updating the citation to the Contesting Records Procedures section, and updating the citation to the Privacy Act of 1974 to the following SORNs: PBGC-17 and PBGC-28. Moreover, PBGC is adding one routine use to PBGC-17, adding two routine uses to PBGC-28, and, lastly, establishing PBGC-30: Surveys and ComplaintsPBGC.
Adjustment of Civil Penalties for Inflation
Document Number: 2024-00488
Type: Rule
Date: 2024-01-12
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation is required to amend its regulations annually to adjust for inflation the maximum civil penalty for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices.
Submission of Information Collection for OMB Review; Comment Request; Disclosure of Termination Information
Document Number: 2024-00188
Type: Notice
Date: 2024-01-09
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval under the Paperwork Reduction Act of a collection of information on the disclosure of termination information under its regulations for distress terminations and for PBGC-initiated terminations. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Solicitation of Nominations for Appointment to the Advisory Committee of the Pension Benefit Guaranty Corporation
Document Number: 2023-28803
Type: Notice
Date: 2024-01-02
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is soliciting nominations for appointment to the Advisory Committee of the PBGC.
Proposed Submission of Information Collection for OMB Review; Comment Request; Special Financial Assistance Information
Document Number: 2023-27970
Type: Notice
Date: 2023-12-20
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval under the Paperwork Reduction Act of a collection of information contained in PBGC's regulation on special financial assistance. The purpose of the information collection is to gather information necessary for PBGC to operate this special financial assistance program. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2023-27690
Type: Rule
Date: 2023-12-18
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the first quarter of 2024. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.
Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age
Document Number: 2023-26238
Type: Rule
Date: 2023-11-29
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2024. This table is needed to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.
Announcement of OMB Approvals of Information Collections
Document Number: 2023-26067
Type: Notice
Date: 2023-11-27
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Office of Management and Budget (OMB) has approved Pension Benefit Guaranty Corporation (PBGC) information collections under the Paperwork Reduction Act. This notice lists the approved information collections and provides their corresponding OMB control number and current expiration date.
Technical Amendments: Special Financial Assistance Withdrawal Liability Condition; SECURE 2.0 Act; and Other Updates
Document Number: 2023-24268
Type: Rule
Date: 2023-11-07
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is making miscellaneous technical updates, clarifications, and corrections to PBGC's regulations, including to clarify a special financial assistance withdrawal liability condition and to update the reference to the dollar limit for lump-sum distributions in the closeout of sufficient multiemployer plans to reflect changes implemented under the SECURE 2.0 Act of 2022.
Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums
Document Number: 2023-24217
Type: Notice
Date: 2023-11-02
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget extend approval under the Paperwork Reduction Act of a collection of information under its regulation on Payment of Premiums. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Proposed Submission of Information Collection for OMB Review; Comment Request; Disclosure of Termination Information
Document Number: 2023-23722
Type: Notice
Date: 2023-10-27
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information on the disclosure of termination information under its regulations for distress terminations and for PBGC-initiated terminations (OMB control number 1212-0065; expires April 30, 2024). This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Submission of Information Collection for OMB Review; Comment Request; Missing Participants
Document Number: 2023-23248
Type: Notice
Date: 2023-10-20
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget extend approval under the Paperwork Reduction Act of a collection of information under PBGC's regulation on Missing Participants. PBGC needs the information submitted by plans under this collection to search for missing participants and beneficiaries and pay their benefits. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2023-19803
Type: Rule
Date: 2023-09-13
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the fourth quarter of 2023. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.
Submission of Information Collection for OMB Review; Comment Request; Generic Clearance for the Collection of Qualitative and Quantitative Feedback on Agency Service Delivery
Document Number: 2023-18458
Type: Notice
Date: 2023-08-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of the collection of information on qualitative and quantitative feedback on PBGC's service delivery (OMB Control Number 1212-0066; expires October 31, 2023). This notice informs the public of PBGC's request and solicits comments on the proposed information collection. This collection of information was developed as part of a Federal Government-wide effort to streamline the process for seeking feedback from the public on service delivery.
Valuation Assumptions and Methods
Document Number: 2023-17521
Type: Proposed Rule
Date: 2023-08-18
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This proposed rule would update the interest, mortality, and expense assumptions used to determine the present value of benefits for a single-employer pension plan under subpart B of the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single- Employer Plans, to determine components of mass withdrawal liability for a multiemployer pension plan, and for other purposes.
Proposed Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums
Document Number: 2023-16536
Type: Notice
Date: 2023-08-03
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget extend approval under the Paperwork Reduction Act of a collection of information under its regulation on Payment of Premiums. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans
Document Number: 2023-15509
Type: Notice
Date: 2023-07-21
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Liability for Termination of Single-Employer Plans (OMB control number 1212-0017; expires August 31, 2023). This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Benefit Payments and Allocation of Assets
Document Number: 2023-14349
Type: Rule
Date: 2023-07-11
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule makes changes to PBGC's regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans. The changes make clarifications and codify policies involving payment of lump sums, changes to benefit form, and valuation of plan assets.
Proposed Submission of Information Collection for OMB Review; Comment Request; Missing Participants
Document Number: 2023-14061
Type: Notice
Date: 2023-07-03
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget extend approval under the Paperwork Reduction Act of a collection of information under PBGC's regulation on Missing Participants. PBGC needs the information submitted by plans under this collection to search for missing participants and beneficiaries and pay their benefits. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Privacy Act of 1974; Systems of Records
Document Number: 2023-13531
Type: Notice
Date: 2023-06-27
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pursuant to the Privacy Act of 1974, the Pension Benefit Guaranty Corporation (PBGC) is proposing to establish a new system of records, ``PBGC-29: Freedom of Information Act and Privacy Act Request RecordsPBGC'' to reflect PBGC's current practice of processing requests for records made under the provisions of the Freedom of Information Act (FOIA)/Privacy Act (PA), and to assist PBGC in carrying out other responsibilities relating to FOIA and PA including operational, management, and reporting purposes.
Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2023-12751
Type: Rule
Date: 2023-06-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2023. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.
Submission of Information Collections for OMB Review; Comment Request; Special Financial Assistance Information
Document Number: 2023-11564
Type: Notice
Date: 2023-05-31
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval under the Paperwork Reduction Act of collections of information contained in PBGC's regulation on special financial assistance. The purpose of the information collections is to gather information necessary for PBGC to operate the special financial assistance program. This notice informs the public of PBGC's request and solicits public comment on the collections of information.
Proposed Submission of Information Collections for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans
Document Number: 2023-10414
Type: Notice
Date: 2023-05-16
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Liability for Termination of Single- Employer Plans (OMB control number 1212-0017; expires August 31, 2023). This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Proposed Submission of Information Collection for OMB Review; Comment Request; Generic Clearance for the Collection of Qualitative and Quantitative Feedback on Agency Service Delivery
Document Number: 2023-10411
Type: Notice
Date: 2023-05-16
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation intends to request that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of the collection of information on qualitative and quantitative feedback on PBGC's service delivery (OMB Control Number 1212-0066; expires October 31, 2023). This notice informs the public of PBGC's intent and solicits comments on the proposed information collection. This collection of information was developed as part of a Federal Government-wide effort to streamline the process for seeking feedback from the public on service delivery.
Submission of Information Collections for OMB Review; Comment Request; Multiemployer Plan Regulations
Document Number: 2023-06073
Type: Notice
Date: 2023-03-24
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of collections of information in PBGC's regulations on multiemployer plans under the Employee Retirement Income Security Act of 1974 (ERISA). This notice informs the public of PBGC's request and solicits public comment on the collections of information.
Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2023-05350
Type: Rule
Date: 2023-03-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2023. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.
Annual Information Return/Reports
Document Number: 2023-02653
Type: Rule
Date: 2023-02-24
Agency: Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Pension Benefit Guaranty Corporation, Agencies and Commissions, Department of the Treasury
This document contains final forms and instructions revisions for the Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan effective for plan years beginning on or after January 1, 2023. The forms and instructions revisions relate to statutory amendments to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) enacted as part of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) for multiple-employer plans and groups of plans, as well as changes intended to improve reporting of certain plan financial information regarding audits and plan expenses and enhance the reporting of certain tax qualification and other compliance information by retirement plans. There are also some minor changes that further improve defined benefit plan reporting by building on changes made to the forms for plan years beginning on or after January 1, 2022. The remaining changes are technical changes that are part of the annual rollover of the Form 5500 and Form 5500-SF forms and instructions. The revisions being finalized in this document affect employee pension and welfare benefit plans, plan sponsors, administrators, and service providers to plans subject to annual reporting requirements under ERISA and the Code.
Submission of Information Collection for OMB Review; Comment Request; Payment of Premiums; Termination Premium
Document Number: 2023-03350
Type: Notice
Date: 2023-02-17
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, with modifications, under the Paperwork Reduction Act, of a collection of information for the termination premium under its regulation on Payment of Premiums. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Proposed Submission of Information Collection for OMB Review; Comment Request; Special Financial Assistance Information
Document Number: 2023-03159
Type: Notice
Date: 2023-02-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval under the Paperwork Reduction Act of a collection of information contained in PBGC's regulation on special financial assistance. The purpose of the information collection is to gather information necessary for PBGC to operate this special financial assistance programs. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Submission of Information Collection for OMB Review; Comment Request; Termination of Single-Employer Plans
Document Number: 2023-02305
Type: Notice
Date: 2023-02-03
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, with modifications, under the Paperwork Reduction Act, of a collection of information under PBGC's regulation on Termination of Single-Employer Plans and its Missing Participants regulation in effect before 2018. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Special Financial Assistance by PBGC-Withdrawal Liability Condition Exception
Document Number: 2023-01415
Type: Rule
Date: 2023-01-26
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) published a final rule in the Federal Register on July 8, 2022, concerning the requirements for special financial assistance applications and related restrictions and conditions pursuant to the American Rescue Plan (ARP) Act of 2021, and provided a 30-day comment period on the condition requiring a phased recognition of special financial assistance in a plan's determination of withdrawal liability. PBGC is amending its special financial assistance regulation to add an exception process for the conditions relating to withdrawal liability.
Pendency for Request for Approval of Special Withdrawal Liability Rules: Motion Picture Laboratory Technicians and Film Editors Local 780 Pension Fund
Document Number: 2023-00876
Type: Notice
Date: 2023-01-18
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This notice advises interested persons that the Pension Benefit Guaranty Corporation (PBGC) has received a request from the Motion Picture Laboratory Technicians and Film Editors Local 780 Pension Fund (the ``Plan'') for approval of a plan amendment providing for special withdrawal liability rules. Under PBGC's regulation on Extension of Special Withdrawal Liability Rules, a multiemployer pension plan may, with PBGC approval, be amended to provide for special withdrawal liability rules similar to those that apply to the construction and entertainment industries. Such approval is granted only if PBGC determines that the rules apply to an industry with characteristics that make use of the special rules appropriate and that the rules will not pose a significant risk to the pension insurance system. Before granting an approval, PBGC's regulations require PBGC to give interested persons an opportunity to comment on the request. The purpose of this notice is to advise interested persons of the request and to solicit their views on it.
Submission of Information Collection for OMB Review; Comment Request; Annual Financial and Actuarial Information Reporting
Document Number: 2023-00691
Type: Notice
Date: 2023-01-17
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, without modifications, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Annual Financial and Actuarial Information Reporting. This notice informs the public of PBGC's request and solicits public comment on the collection.
Performance Review Board Members
Document Number: 2023-00563
Type: Notice
Date: 2023-01-13
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) announces the appointment of members of the PBGC Performance Review Board.
Adjustment of Civil Penalties for Inflation
Document Number: 2023-00499
Type: Rule
Date: 2023-01-12
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation is required to amend its regulations annually to adjust for inflation the maximum civil penalty for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices.
Privacy Act of 1974; Systems of Records
Document Number: 2022-27986
Type: Notice
Date: 2022-12-23
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pursuant to the Privacy Act of 1974, the Pension Benefit Guaranty Corporation (PBGC) is proposing changes to a system of records notice (SORN). PBGC is updating the Official Address to reflect PBGC's new headquarters location, adding a routine use and modifying other routine uses, updating categories of records, sources of records, and other administrative changes.
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