PBGCFinal Rules (FR)Jul 12, 2021★ strong match
…urs and $2,000 for a proposed settlement of withdrawal liability. PBGC estimates that, beginning in 2023, for 2.2 determination requests, the aggregated average annual hour burden will be 7.6 hours (1.6+4+2 employer and fund office hours) and the aggregated average annual cost burden will be $19,000 ($5,000 + $12,000 +…
88 FR 76660 — Technical Amendments: Special Financial Assistance Withdrawal Liability Condition; SECURE 2.0 Act; and Other Updates PBGCFinal Rules (FR)Nov 7, 2023★ strong match
… 4000.28
[Removed and Reserved]
3. Remove and reserve § 4000.28. PART 4003—RULES FOR ADMINISTRATIVE REVIEW OF AGENCY DECISIONS
4. The authority citation for part 4003 continues to read as follows:
Authority:
29 U.S.C. 1302(b)(3).
§ 4003.35
[Amended]
5. Amend § 4003.35 in paragraph (a) introductory text by removing the …
PBGCFinal Rules (FR)Jul 8, 2022
…ancial assistance was filed.” For example, if the plan's initial application was filed on March 15, 2023, its SFA measurement date would be December 31, 2022; if the plan's initial application was filed on July 1, 2023, its SFA measurement date would be April 30, 2023.
85 FR 6046 — Miscellaneous Corrections, Clarifications, and Improvements PBGCFinal Rules (FR)Feb 4, 2020related by meaning
…e plan year.
Back to Citation
26.
See, e.g.,
DOL's final rule on Prohibited Transaction Exemption Procedures, 76 FR 66637, 66644 (Oct. 27, 2011).
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27.
See,13 CFR 121.201.
Back to Citation
[FR Doc. 2020-01628 Filed 2-3-20; 8:45 am]
BILLING CODE 7709-02-P
80 FR 35220 — Partitions of Eligible Multiemployer Plans PBGCFinal Rules (FR)Jun 19, 2015related by meaning
…terim final rule.
SUMMARY:
This document contains an interim final rule prescribing the application process and notice requirements for partitions of eligible multiemployer plans under title IV of the Employee Retirement Income Security Act of 1974 (ERISA), as amended by the Multiemployer Pension Reform Act of 2014 (MP…
88 FR 44045 — Benefit Payments and Allocation of Assets PBGCFinal Rules (FR)Jul 11, 2023★ strong match
…ribed in IRS's guidance on the purchase of additional benefits from a defined benefit plan.
See
IRS Rev. Rul. 2012-4. These benefits are generally treated as AMECs, but PBGC does not allow payment of them in a lump sum.
See 29 CFR 4022.7(b)(2)(iii).
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14.
Although ERISA provides only that PBGC “may” bec…
87 FR 74968 — Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age PBGCFinal Rules (FR)Dec 7, 2022
…ement. Table I-23 will be used to value benefits in plans with valuation dates during calendar year 2023. PBGC has determined that notice of, and public comment on, this rule are impracticable, unnecessary, and contrary to the public interest. PBGC's update of appendix D for calendar year 2023 is routine. If a plan has…
90 FR 39320 — Miscellaneous Corrections, Clarifications, and Improvements PBGCFinal Rules (FR)Aug 15, 2025related by meaning
… Certain Other Notification Requirements, 78 FR 20039, 20057 (Apr. 3, 2013) and DOL's final rule on Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications, 89 FR 4662, 4690 (Jan. 24, 2024).
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30.
See
Bipartisan Budget Act of 2015, Public Law 114-74, Title V, Sec…
88 FR 1991 — Adjustment of Civil Penalties for Inflation PBGCFinal Rules (FR)Jan 12, 2023
… not a “significant regulatory action” under Executive Order 12866 and therefore not subject to its review.
The Office of Management and Budget also has determined that notice and public comment on this final rule are unnecessary because the adjustment of civil penalties implemented in the rule is required by law. See …
84 FR 2075 — Methods for Computing Withdrawal Liability, Multiemployer Pension Reform Act of 2014 PBGCProposed Rules (FR)Proposed Feb 6, 2019related by meaning
nded]
26. In § 4219.2:
a. Amend paragraph (a) by removing “multiemployer plan,” and adding in its place “multiemployer plan, nonforfeitable benefit,”; b. Amend the definition of “Mass withdrawal valuation date” by removing the last sentence of the definition;
c. Amend the definition of “Reallocation record date” by rem…
PBGCFinal Rules (FR)Jun 6, 2024
…illustrates how the 4044 yield curve would have been developed for a valuation date on December 31, 2023, had the rule been in effect at that time and assuming the fourth quarter spreads for 2023 were as shown in column D below:
Maturity
(A)
Dec. 31, 2023,
nominal TNC
Treasury yield curve
(%)
(B)
Dec. 31, 2023,
HQM bon…
88 FR 62706 — Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits PBGCFinal Rules (FR)Sep 13, 2023
…o estimate the value of plan benefits for plans with valuation dates early in the fourth quarter of 2023. PBGC has determined that this action is not a “significant regulatory action” under the criteria set forth in Executive Order 12866.
Because no general notice of proposed rulemaking is required for this amendment, …
90 FR 6894 — Miscellaneous Corrections, Clarifications, and Improvements PBGCProposed Rules (FR)Proposed Jan 21, 2025related by meaning
…ended]
21. Amend § 4043.3 by removing the last sentence of paragraph (a)(3).
22. Amend § 4043.62 by revising the section heading and paragraph (a) to read as follows:
§ 4043.62
Change in controlled group.
(a)
Reportable event.
Advance notice is required for a change in a plan's controlled group, as described in § 4043.…
88 FR 15906 — Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits PBGCFinal Rules (FR)Mar 15, 2023
…o estimate the value of plan benefits for plans with valuation dates early in the second quarter of 2023. PBGC has determined that this action is not a “significant regulatory action” under the criteria set forth in Executive Order 12866.
Because no general notice of proposed rulemaking is required for this amendment, …
83 FR 46642 — Mergers and Transfers Between Multiemployer Plans PBGCFinal Rules (FR)Sep 14, 2018related by meaning
definition of “certified change of collective bargaining representative” from § 4231.2 of the existing regulation to § 4231.3(c).
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15. This final rule also incorporates by reference in § 4231.3(a)(1) the waiver to the preservation of accrued benefits added under a new § 4231.4(b) in the event of a cont…
PBGCProposed Rules (FR)Proposed Aug 18, 2023
…culation of mortality rate.
The mortality rate that is applied to male annuitants who are age 67 in 2023 is equal to the product of the mortality rate for 2012 that applied to male annuitants who were age 67 in 2012 (0.01288) and the cumulative mortality improvement factor for age 67 males from 2012 to 2023. The cumula…
88 FR 39169 — Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits PBGCFinal Rules (FR)Jun 15, 2023
… 1301(a), 1302(b)(3), 1341, 1344, 1362.
2. In appendix B to part 4044, an entry for “July-September 2023” is added at the end of the table to read as follows:
Appendix B to Part 4044—Interest Rates Used to Value Benefits
* * * * *
For valuation dates occurring in the month—
The values of
it
are:
it
for
t
=
it
for
t
=
i…
PBGCRegulationsSep 15, 2025
…00,000 in lump-sum make-up payments were paid by Plan D in plan year 2022. An employer withdraws in 2023. At the end of the determination year (2022), the amount of SFA required to be excluded from assets equals $60,000,000 ($50,000,000 + $30,000,000—$20,000,000). If, instead, the make-up payments were paid by Plan D i…
87 FR 76576 — Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits PBGCFinal Rules (FR)Dec 15, 2022
…to estimate the value of plan benefits for plans with valuation dates early in the first quarter of 2023. PBGC has determined that this action is not a “significant regulatory action” under the criteria set forth in Executive Order 12866.
Because no general notice of proposed rulemaking is required for this amendment, …
86 FR 1256 — Methods for Computing Withdrawal Liability, Multiemployer Pension Reform Act of 2014 PBGCFinal Rules (FR)Jan 8, 2021related by meaning
211 of ERISA. The preamble included an example of the application of the exclusion of surcharge amounts from contributions in the allocation fraction. The Multiemployer Pension Reform Act of 2014, Public Law 113-235 (MPRA), made further amendments to the withdrawal liability rules and consolidated them with the PPA 200…