By Pension and Benefits Editorial Staff
The Pension Benefit Guaranty Corporation (PBGC) has issued a notice that it intends to request that the Office of Management and Budget (OMB) approve a collection of information that consists of a proposed form and instructions that would be used by a plan or plan administrator to request a coverage determination. The PBGC states that the collection of information is necessary for the PBGC to determine whether a plan is covered under ERISA Title IV.
The proposed form highlights the four main plan types that make the most requests for coverage determination: (1) church plans listed under ERISA Sec. 4021(b)(3); (2) plans that are established and maintained exclusively for the benefit of the plan sponsors’ substantial owners under ERISA Sec. 4021(b)(9); (3) plans covering no more than 25 active participants that are established and maintained by professional services employers as listed in ERISA Sec. 4021(b)(13); and (4) Puerto Rico-based plans within the meaning of ERISA Sec. 1022(i)(1).
The PBGC is seeking public comment on the proposed collection of information. Comments should be submitted by February 4, 2019, and may be submitted by using the Federal eRulemaking Portal at http://www.regulations.gov, by email at [email protected], or by mail or hand delivery to the Regulatory Affairs Division, Office of General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005-4026.
SOURCE: 83 FR 62629.
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