Regional Vice President of Sales The Retirement Plan Company
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Text of Proposed PBGC Regs Strengthening and Expanding Debt Collection Methods
Pension Benefit Guaranty Corporation [PBGC] [Official Guidance] July 26, 2010
Excerpt: This proposed rule would revise the Pension Benefit Guaranty Corporation's regulation on debt collection to conform to the Debt Collection Improvement Act of 1996, the Federal Claims Collection Standards and other legal requirements applicable to the collection of non-tax debts owed to PBGC. This proposed rule would add salary offset and administrative wage garnishment to the collection methods allowed under the current regulation and make other changes to strengthen PBGC's debt collection program.
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