More retirement-related regulatory news for plan sponsors, including links to detailed information.
PBGC submits draft forms and instructions for premium filings to OMB
On January 12, the Pension Benefit Guaranty Corporation (PBGC) submitted draft forms and instructions for 2015 premium filings under the Paperwork Reduction Act to the Office of Management and Budget (OMB) for review. Included in the OMB submission is a supporting statement addressing, among other things, public comments received on new questions related to certain lump-sum windows and annuity purchases.
Comments are due to OMB by February 11, 2015. For more information, click here.
PBGC posts increase in 2015 flat-rate premium for multiemployer plans
The Multiemployer Pension Reform Act of 2014 increased the 2015 flat-rate premium for multiemployer plans from $13 to $26 per participant. The PBGC has updated its website to reflect this increase.
For more information, click here.