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PBGC Offers Relief from Late Premium Payment Penalties
Morgan Lewis 
[Guidance Overview] Dec. 6, 2016 "The first reduction under the new regulations cuts the penalty percentages and caps in half. Going forward, the penalty for a self-corrected late payment is 0.5% per month, subject to a 25% cap. After the PBGC issues a notice of underpayment, the penalty increases to 2.5% per month, subject to a 50% cap. The second penalty reduction is a 'good citizen' waiver of sorts." MORE >> |
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