Pension & Benefits News PBGC seeks comments on liability for termination of single-employer plan regs
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Tuesday, July 7, 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) is requesting that the Office of Management and Budget (OMB) extend approval without change 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% of the employer’s net worth to so notify the PBGC upon plan termination and to submit net worth information.

Comments, which should be submitted by July 10, 2020, may be sent to www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.

Source: 85 FR 35445.

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