Pension Benefit Guaranty Corporation 2016 – Federal Register Recent Federal Regulation Documents

Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Document Number: 2016-30634
Type: Rule
Date: 2016-12-21
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 valuation dates in the first quarter of 2017. The interest assumptions are used for valuing benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC. As discussed below, PBGC has published a separate final rule document dealing with interest assumptions under its regulation on Benefits Payable in Terminated Single-Employer Plans for January 2017.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-30098
Type: Rule
Date: 2016-12-16
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 January 2017. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC. As discussed below, PBGC will publish a separate final rule document dealing with interest assumptions under its regulation on Allocation of Assets in Single- Employer Plans for the first quarter of 2017.
Proposed Submission of Information Collections for OMB Review; Comment Request; Payment of Premiums; Termination Premium
Document Number: 2016-27866
Type: Notice
Date: 2016-11-22
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 the collection of information for the termination premium under its regulation on Payment of Premiums (29 CFR part 4007) (OMB control number 1212-0064; expires February 28, 2017), without changes. 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; Valuation of Benefits and Assets; Expected Retirement Age
Document Number: 2016-27986
Type: Rule
Date: 2016-11-21
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 2017. This table is needed in order to compute the value of early retirement benefits and, thus, the total value of benefits under a plan.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-27384
Type: Rule
Date: 2016-11-15
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 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-24811
Type: Rule
Date: 2016-10-14
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 November 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Payment of Premiums; Late Payment Penalty Relief
Document Number: 2016-22901
Type: Rule
Date: 2016-09-23
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) is lowering the rates of penalty charged for late payment of premiums by all plans, and providing a waiver of most of the penalty for plans with a demonstrated commitment to premium compliance.
Missing Participants
Document Number: 2016-22278
Type: Proposed Rule
Date: 2016-09-20
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) administers a program to hold retirement benefits for missing participants and beneficiaries in terminated retirement plans and to help those participants and beneficiaries find and receive the benefits being held for them. The program is currently limited to single-employer defined benefit pension plans covered by the pension insurance system under title IV of the Employee Retirement Income Security Act of 1974 (ERISA). PBGC proposes to make changes to its existing program and, as authorized by the Pension Protection Act of 2006, to establish similar programs for multiemployer plans covered by title IV, certain defined benefit plans that are not covered by title IV, and most defined contribution plans. PBGC seeks public comment on its proposal.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2016-22172
Type: Rule
Date: 2016-09-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single- Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in October 2016 and interest assumptions under the asset allocation regulation for valuation dates in the fourth quarter of 2016. The interest assumptions are used for valuing and paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Privacy Act of 1974; Systems of Records
Document Number: 2016-21975
Type: Notice
Date: 2016-09-14
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pursuant to the Privacy Act of 1974 the Pension Benefit Guaranty Corporation (PBGC) is proposing to add an additional general routine use, add an additional routine use to PBGC-3, Employee Payroll, Leave, and Attendance Records, add an additional routine use to PBGC- 19, Office of General Counsel Case Management System, delete a routine use from PBGC-22, Telework and Alternative Worksite Records, establish a new system of records, PBGC-24, Participant Debt Collection, and make various technical and clarifying changes to eighteen existing systems of records.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-19295
Type: Rule
Date: 2016-08-15
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 September 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Proposed Revision of Annual Information Return/Reports
Document Number: 2016-14893
Type: Proposed Rule
Date: 2016-07-21
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 proposed changes to the Form 5500 Annual Return/Report forms, including the Form 5500, Annual Return/ Report of Employee Benefit Plan (Form 5500 Annual Return/Report), and the Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan (Form 5500-SF). The annual returns/reports are filed for employee pension and welfare benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code). The proposed revisions in this Notice reflect efforts of the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation (collectively Agencies) to improve employee benefit plan reporting for filers, the public, and the Agencies by modernizing financial information filed regarding plans; updating fee and expense information on plan service providers with a focus on harmonizing annual reporting requirements with the Department of Labor's final disclosure requirements enhancing mineability of data filed on annual return/reports; requiring reporting by all group health plans covered by Title I of ERISA, including adding a new Schedule J (Group Health Plan Information); and improving compliance under ERISA and the Code through selected new questions regarding plan operations, service provider relationships, and financial management of the plan. These revisions, which are being proposed in conjunction with a recompete of the ERISA Filing and Acceptance System (EFAST2) contract, if adopted, generally would apply for plan years beginning on or after January 1, 2019. EFAST2 is expected to begin processing the Plan Year 2019 Form 5500 Annual Return/Report beginning January 1, 2020. The proposed revisions would 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; Filings for Reconsideration
Document Number: 2016-16950
Type: Notice
Date: 2016-07-19
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 change, under the Paperwork Reduction Act, of a collection of information under its regulation on Rules for Administrative Review of Agency Decisions. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-16728
Type: Rule
Date: 2016-07-15
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 August 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2016-14076
Type: Rule
Date: 2016-06-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single- Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in July 2016 and interest assumptions under the asset allocation regulation for valuation dates in the third quarter of 2016. The interest assumptions are used for valuing and paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Mergers and Transfers Between Multiemployer Plans
Document Number: 2016-13083
Type: Proposed Rule
Date: 2016-06-06
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This proposed rule would amend PBGC's regulation on Mergers and Transfers Between Multiemployer Plans to implement section 121 of the Multiemployer Pension Reform Act of 2014. The proposed rule would also reorganize and update the existing regulation.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-11297
Type: Rule
Date: 2016-05-13
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 June 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Adjustment of Civil Penalties
Document Number: 2016-11296
Type: Rule
Date: 2016-05-13
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation is amending its regulations to adjust the penalties provided for in sections 4071 and 4302 of the Employee Retirement Income Security Act of 1974. This action is being taken in accordance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 and Office of Management and Budget memorandum M-16-06. The regulations being amended are those on Penalties for Failure to Provide Certain Notices or Other Material Information (29 CFR part 4071) and Penalties for Failure to Provide Certain Multiemployer Plan Notices (29 CFR part 4302). Conforming amendments are also being made to the regulations on Annual Financial and Actuarial Information Reporting (29 CFR part 4010) and Termination of Single-Employer Plans (29 CFR part 4041).
Submission of Information Collection for OMB Review; Comment Request; Administrative Appeals
Document Number: 2016-10813
Type: Notice
Date: 2016-05-09
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 under its regulation on Rules for Administrative Review of Agency Decisions. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
Payment of Premiums; Late Payment Penalty Relief
Document Number: 2016-09960
Type: Proposed Rule
Date: 2016-04-28
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (PBGC) proposes to lower the rates of penalty charged for late payment of premiums by all plans, and to provide a waiver of most of the penalty for plans with a demonstrated commitment to premium compliance. PBGC seeks public comment on its proposal.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-08773
Type: Rule
Date: 2016-04-15
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 May 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Proposed Submission of Information Collection for OMB Review; Comment Request; Filings for Reconsideration
Document Number: 2016-07285
Type: Notice
Date: 2016-03-31
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (``PBGC'') intends to request the Office of Management and Budget (``OMB'') to extend approval without change, under the Paperwork Reduction Act, of a collection of information under its regulation on Rules for Administrative Review of Agency Decisions. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Pendency of Request for Approval of Alternative Arbitration Procedure; American Arbitration Association
Document Number: 2016-06565
Type: Notice
Date: 2016-03-23
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 American Arbitration Association (``AAA'') for approval of an Alternative Arbitration Procedure under section 4221 of the Employee Retirement Income Security Act of 1974, as amended, and 29 CFR 4221.14. The purpose of this notice is to advise interested persons of the AAA application for approval and solicit their views on it.
Annual Financial and Actuarial Information Reporting
Document Number: 2016-06470
Type: Rule
Date: 2016-03-23
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (``PBGC'') is amending its regulation on Annual Financial and Actuarial Information Reporting to codify provisions of recent legislation and related guidance that affect reporting under ERISA section 4010. The final rule modifies the reporting waiver under the current regulation tied to aggregate plan underfunding of $15 million or less to be based on non- stabilized interest rates. In addition, the final rule adds new reporting waivers for smaller plans and for plans that must file solely on the basis of either a statutory lien resulting from missed contributions over $1 million or outstanding minimum funding waivers exceeding the same amount (provided the missed contributions or applications for minimum funding waivers were previously reported to PBGC). The final rule also provides alternative methods of compliance for reporting certain actuarial information and makes a few technical changes to the regulation.
Allocation of Assets in Single-Employer Plans; Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Valuing and Paying Benefits
Document Number: 2016-05733
Type: Rule
Date: 2016-03-15
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
This final rule amends the Pension Benefit Guaranty Corporation's regulations on Benefits Payable in Terminated Single- Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in April 2016 and interest assumptions under the asset allocation regulation for valuation dates in the second quarter of 2016. The interest assumptions are used for valuing and paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Proposed Submission of Information Collection for OMB Review; Comment Request; Administrative Appeals
Document Number: 2016-04268
Type: Notice
Date: 2016-02-29
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
The Pension Benefit Guaranty Corporation (``PBGC'') intends to request the Office of Management and Budget (``OMB'') to extend approval, under the Paperwork Reduction Act, of a collection of information under its regulation on Rules for Administrative Review of Agency Decisions. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-02810
Type: Rule
Date: 2016-02-12
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 March 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Benefits Payable in Terminated Single-Employer Plans; Interest Assumptions for Paying Benefits
Document Number: 2016-00725
Type: Rule
Date: 2016-01-15
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 February 2016. The interest assumptions are used for paying benefits under terminating single-employer plans covered by the pension insurance system administered by PBGC.
Privacy Act of 1974; Systems of Records
Document Number: 2015-33294
Type: Notice
Date: 2016-01-06
Agency: Pension Benefit Guaranty Corporation, Agencies and Commissions
Pursuant to the Privacy Act of 1974, 5 U.S.C. 552a, the Pension Benefit Guaranty Corporation (PBGC) is proposing to make the following changes to PBGC-6, an existing system of records: (1) Revise the Categories of Individuals Covered by the System, (2) revise the Categories of Records in the System, (3) revise an existing routine use, (4) add two new routine uses, (5) revise the Safeguards, and (6) revise the Record Source Categories. PBGC is also proposing to make the following changes to PBGC-9, an existing system of records: (1) Revise the Categories of Records in the System, (2) revise an existing routine use, (3) add a new routine use, and (4) revise the Safeguards.