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

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.
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