Compensation Strategies Group, Ltd.
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|Text of PBGC Submission for OMB Review and Comment Request: Survey of Nonparticipating Single Premium Group Annuity Rates|
Pension Benefit Guaranty Corporation [PBGC]
Mar. 6, 2015
"Each month PBGC publishes the interest rates to be used under those regulations for plans terminating or undergoing mass withdrawal during the next month. The interest rates are intended to reflect current conditions in the annuity markets. To determine these interest rates, PBGC gathers pricing data from insurance companies that are providing annuity contracts to terminating pension plans.... [This] survey is directed at insurance companies that have volunteered to participate, most, or all, of which are members of the American Council of Life Insurers. The survey is conducted quarterly and will be sent to approximately 22 insurance companies. Based on experience under the current approval, PBGC estimates that 6 insurance companies will complete and return the survey. PBGC further estimates that the average annual burden of this collection of information is 12 hours and $480."
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