[Official Guidance]

Text of PBGC Technical Update 14-1: Effect of HATFA on PBGC Premiums
Excerpt: "[In] the exercise of enforcement discretion, PBGC will not require a plan that makes a 2014 premium filing using an asset value that includes 2013 contributions receivable discounted using MAP-21 effective interest rates and uses HATFA rates for 2013 funding purposes, to pay additional premium or late payment charges or amend its 2014 premium filing where all of the following conditions are met: [1] The 2014 premium filing is due on or before December 31, 2014, and is timely made. [2] As of the 2014 premium due date, the plan has not filed a 2013 Schedule SB based on HATFA calculations. [3] The asset value reported in the 2014 premium filing included contributions made after the end of the 2013 plan year discounted using the effective interest rate that would have applied had HATFA not been enacted (i.e., based on the MAP-21 corridor). [4] The plan's contributions for the 2013 plan year made after the end of such plan year do not exceed $25 million.... [Also,] plans that redesignate 2013 contributions to 2014 in accordance with IRS Notice 2014-53 should amend their 2014 premium filings to exclude the discounted value of such redesignated contributions from the value of assets used to determine the 2014 [variable-rate premium]. In general, such a redesignation will affect premiums for both 2014 and 2015. If the redesignation is made after the 2014 premium filing, the 2014 filing should be amended to reflect the higher premium." (Pension Benefit Guaranty Corporation [PBGC])