Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Education Consultant

(Remote / Putnam Valley NY)

Pentegra logo

Plan Compliance Analyst (Administrator)


RPA logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>

Text of PBGC Submission to OMB: Duties of Plan Sponsor Following Mass Withdrawal
Pension Benefit Guaranty Corporation [PBGC]Link to more items from this source
[Official Guidance]
Sept. 23, 2015

"Plan sponsors of multiemployer pension plans terminated by mass withdrawal give notices to PBGC and plan participants about plan insolvency and benefit reductions; notices to participants about electing benefit options; and requests to PBGC for financial assistance or permission to distributee benefits in different amounts or forms than otherwise allowed. PBGC uses information submitted to it to make statutory determinations and estimate the need for financial assistance to plans. Participants use information sent to them to make personal financial decisions." [Forms submitted for approval: [1] Application for Financial Assistance -- Recurring, [2] Application for Financial Assistance -- Initial, [3] Notice of Insolvency Benefit Level, and [4] Notice of Insolvency. Includes a Supporting Statement.]

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022, Inc.