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PBGC Refunds


Guest Alex Hamilton
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Guest Alex Hamilton

Does anyone have any experience seeking a refund of PBGC premiums mistakenly paid by a governmental entity? I have a client who has paid premiums for years on a small DB plan. However, they received an IRS ruling some years ago that their plan was a governmental plan. I am wondering how difficult it is to get the PBGC to issue refunds. Any input is appreciated.

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Several years ago a 501©(3) entity (library) was take over by a county. The county mistakenly continued to pay premiums. When the county requested a refund, the answer was negative (perhaps because the official did not understand that the plan had become governmental). When we took the first step in the formal process leading to appeals at a higher level (set out in the regulations), which included a full explanation of facts, the official immediately backed off and approved the refund.

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