By Pension and Benefits Editorial Staff
The Pension Benefit Guaranty Corporation (PBGC) has added a new webpage that contains PBGC staff responses to questions received from practitioners about Title IV requirements that might be of interest to other practitioners. The questions cover issues concerning bankruptcy claims, liens arising from large missed contributions, guaranteed benefits, reportable events, premiums, distress terminations, valuations, and other topics. The PBGC has also included a response to a question received several times in recent months about whether a two-step transaction, sometimes called a “reverse spinoff,” is an acceptable strategy for avoiding certain premium payments.
The PBGC explains that the interpretations presented in the webpage reflect the views of the staff of the PBGC. They are not rules, regulations, or statements of the PBGC. These positions do not necessarily contain a discussion of all material considerations necessary to reach the conclusions stated, and they are not binding due to their informal nature. Thus, the responses are intended as general guidance and should not be relied on as definitive, according to the PBGC.
The PBGC states that it intends to update this webpage periodically as additional questions arise. The new webpage can be accessed at https://www.pbgc.gov/prac/staff-responses-prac-questions or via the Other Guidance page on the “Employers and Practitioner” menu of PBGC.gov.
Source: PBGC Website, What's New for Practitioners.
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