PBGC Releases Statement on Avaya’s Pension Plan Proposal

The Pension Benefit Guaranty Corporation (PBGC) has released a statement on the reorganization plan of Avaya, a multinational communications solutions company. The plan includes a proposal to maintain its pension plan for hourly employees but end its pension plan for salaried employees.


IRS Delay in Implementing New Mortality Tables Affects Pension Liability Valuation

The Internal Revenue Service’s (IRS) delay until 2018 of implementation of updated mortality tables for pensions gives defined benefit (DB) plan sponsors some extra time to prepare for significant changes tied to increased participant longevity. But the delay also may affect pension liability valuation in up to three ways, according to investment consulting firm Cambridge […]

Defined benefit retirement plan

PBGC Removes Change in Credit Quality as Possible Trigger for Early Warning Program Review

The Pension Benefit Guaranty Corporation (PBGC) in early May clarified guidance issued in late 2016 about its Early Warning Program (EWP), explaining that the program had not been expanded and such a review for an employer’s defined benefit (DB) retirement plan would not be triggered solely by a change in credit quality.


PBGC Advocate’s 2016 Report Shows Continued Room for Improvement

The Moving Ahead for Progress in the 21st Century Act (MAP-21) in 2012 created a participant and plan sponsor advocate for the Pension Benefit Guaranty Corporation (PBGC) whose role is to “act as a liaison between the corporation, sponsors of defined benefit pension plans insured by the corporation, and participants in pension plans trusteed by the corporation.”


Sears and PBGC Reach Agreement to Shore Up Pension Plans

The Pension Benefit Guaranty Corporation (PBGC) and Sears Holdings Corporation (Sears) recently reached a new agreement that provides additional funding and security for the company’s two pension plans.


Putting PBGC Premiums in Their Historical Context

When will the U.S. Pension Benefit Guaranty Corporation (PBGC) premiums force a change in contribution policy? A look at the federal agency’s accounting statements points to the answer: “Sooner rather than later.”


Don’t Let Your Data or Participants Get Lost in Space

by Mary B. Andersen, CEBS, ERPA, QPA ‘Lost in Space” was a popular television series in the 1960s. Sabotage by crew member Dr. Zachary Smith threw the ship off course and launched endless adventures. Today’s equivalent of Dr. Smith is an unauthorized computer hacker who breaks into data security systems and wreaks havoc on confidential […]


PBGC Reduces Penalties for Late Premium Payments

The Pension Benefit Guaranty Corporation (PBGC) is reducing penalties for late payment of premiums in an effort to reduce regulatory costs and make it easier for plan sponsors to maintain traditional pension plans.