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.
The Pension Benefit Guaranty Corporation (PBGC) is proposing to expand its existing Missing Participants Program to cover terminated 401(k) plans and most other defined contribution plans, as well as certain defined benefit plans that aren’t currently covered by the program.
The federal Pension Benefit Guaranty Corporation (PBGC) has selected five investment management firms to participate in its pilot program for Smaller Asset Managers.
The Pension Benefit Guaranty Corporation (PBGC) recently released a study of revenues needed for PBGC to continue to protect participants in multiemployer plans that are likely to run out of money—and the news isn’t good.
The Pension Benefit Guaranty Corporation (PBGC), a federal government agency, is proposing a rule to facilitate mergers of multiemployer pension plans. Mergers are a way some plans can preserve and protect the benefits earned by workers and retirees.
Protecting retirement benefits is a hot-button issue, especially when the news cycle periodically tells us about the risks of a shortfall in the Social Security Administration’s ability to pay out benefits over the long term. These headlines serve to highlight the fact that employees and employers alike are faced with risks in where we put […]
The Pension Benefit Guaranty Corporation (PBGC) recently released its annual report for fiscal year (FY) 2015. The report shows the agency paid $5.7 billion to more than 800,000 people in failed pension plans, which is comparable to the payments PBGC made in FY 2014.
The projected insolvency date for the insurance program for multiemployer pension plans, which cover more than 10 million Americans, has been delayed by 3 years, according to the FY 2014 Projections Report recently released by the Pension Benefit Guaranty Corporation (PBGC).
Pension plan sponsors that offer to “cash out or annuitize benefits” for former employees would have to report this to the U.S. Pension Benefit Guaranty Corp., the agency has proposed. In a routine information-collection change request to the Office of Management and Budget posted Sept. 23 (79 Fed. Reg. 56831), PBGC said it intends to […]
The Pension Benefit Guaranty Corp., in a policy reversal, has agreed to exempt most companies and their pension plans from sweeping “reportable events” requirements first proposed in 2009. This news should be a relief for the many small or financially sound companies with defined benefit plans that had expressed concern about reporting relatively minor business […]