Search Results for keywords:"single-employer plans"

Found 3 results

Search Results: keywords:"single-employer plans"

đź’° Only
Oldest Newest
  • 2024-29105 — Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age; Missing Participants Mortality Assumption
    Type:Rule
    Citation:89 FR 104040
    Reading Time:about 5 minutes

    The Pension Benefit Guaranty Corporation (PBGC) has released a final rule amending regulations for pension plans facing financial difficulties or closure. This update introduces a new table to determine the expected retirement ages of participants in plans with valuation dates in 2025, which helps calculate early retirement benefits. Additionally, the rule provides a mortality assumption for PBGC's program dealing with missing participants in pension plans for the upcoming year. PBGC determined that no public comment was necessary for these routine changes and that the updates are effective from January 1, 2025.

    Simple Explanation

    The Pension Benefit Guaranty Corporation (PBGC) has updated some rules to help figure out when people can start using their retirement money if their company's plan is closing. They've made new charts to make these calculations for 2025 and also added rules for handling missing people from retirement plans.

  • 2024-30459 — Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
    Type:Rule
    Citation:89 FR 104425
    Reading Time:about 4 minutes

    The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule updating how it calculates the value of payments owed to people in closing single-employer pension plans. This change affects how these values, based on interest rates, are calculated from January 31, 2025, to April 29, 2025. The new rule specifies the methods for aligning these calculations with current market rates to ensure they accurately reflect group annuity prices. The rule takes effect on January 31, 2025, and was released without the typical public comment period to expedite its implementation and align these interest assumptions with market changes.

    Simple Explanation

    The government made a new rule about how to figure out the money people get from closing pension plans, by matching it to what similar payments cost now. They decided to use fresh numbers quickly without asking people what they think, to keep up with how things are changing.

  • C1-2025-05531 — Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
    Type:Rule
    Citation:90 FR 15211
    Reading Time:less than a minute

    The Pension Benefit Guaranty Corporation published a correction for a rule document regarding the allocation of assets in single-employer plans. In the original document, which appeared in the Federal Register on April 3, 2025, there was a typographical error on page 14577 under the SUPPLEMENTARY INFORMATION section. The word "assumption" should have been written as "assumptions". This correction has been formally noted in the Federal Register on April 8, 2025.

    Simple Explanation

    The Pension Benefit Guaranty Corporation made a small fix to a mistake in a document. They changed the word “assumption” to “assumptions” because they accidentally left out an "s" in the original writing.