Pension Benefit Guaranty Corporation November 2014 – Federal Register Recent Federal Regulation Documents

Title IV Treatment of Rollovers From Defined Contribution Plans to Defined Benefit Plans
Document Number: 2014-27826
Type: Rule
Date: 2014-11-25
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
In April 2014, PBGC proposed to amend its regulations to clarify the treatment of benefits resulting from a rollover distribution from a defined contribution plan to a defined benefit plan, if the defined benefit plan was terminated and trusteed by PBGC. Under the proposal, a benefit resulting from rollover amounts generally would not be subject to PBGC's maximum guaranteeable benefit or phase- in limitations and would be in the second highest priority category of benefits in the allocation of assets. PBGC is now finalizing that proposal. Except for making minor clarifications suggested by commenters, the final regulation is the same as the proposed regulation. This rulemaking is part of PBGC's efforts to enhance retirement security by promoting lifetime income options.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2014-26981
Type: Rule
Date: 2014-11-14
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single- Employer Plans to prescribe interest assumptions under the regulation for valuation dates in December 2014. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
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