Pension & Benefits News PBGC seeks comments on liability for termination of single-employer plan regs
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Monday, May 4, 2020

PBGC seeks comments on liability for termination of single-employer plan regs

By Pension and Benefits Editorial Staff

The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval of the collection of information in the PBGC’s regulations on liability for termination of single-employer plans (29 CFR Part 4062). The regulations require a contributing sponsor, or member of the contributing sponsor’s controlled group, that believes employer liability for a terminating, underfunded plan exceeds 30 percent of the collective net worth of persons subject to liability in connection with the plan termination to so notify the PBGC upon plan termination and to submit net worth information.

Comments, which should be submitted by May 11, 2020, may be sent by any of the following methods:

  • Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments.
  • Email: [email protected].
  • Mail or Hand Delivery: Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW., Washington, DC 20005-4026.

Source: 85 FR 13953.

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