Search Results for keywords:"Pension Benefit Guaranty Corporation"

Found 15 results

Search Results: keywords:"Pension Benefit Guaranty Corporation"

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  • 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.

  • 2021-02656 — Performance Review Board Members
    Type:Notice
    Citation:86 FR 8809
    Reading Time:less than a minute

    The Pension Benefit Guaranty Corporation (PBGC) has announced the appointment of new members to its Performance Review Board. This board is tasked with reviewing and making recommendations on the annual performance ratings of senior-level professionals at PBGC. For the year 2020, the board members include Gordon Hartogensis (Director), Kristin Chapman (Chief of Staff), David Foley (Chief of Benefits Administration), Patricia Kelly (Chief Financial Officer), and Alice Maroni (Chief Management Officer). The Performance Review Board plays a crucial role in assessing performance and determining any performance-based adjustments and awards.

    Simple Explanation

    The Pension Benefit Guaranty Corporation (PBGC) has picked some special people, like Gordon, Kristin, David, Patricia, and Alice, to help decide how well other important workers did their jobs this year. But the document doesn’t tell us much about how they chose these people or the rules they used, which might make some people curious or unsure.

  • 2020-28866 — Methods for Computing Withdrawal Liability, Multiemployer Pension Reform Act of 2014
    đź’°
    Type:Rule
    Citation:86 FR 1256
    Reading Time:about 99 minutes

    The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule that amends regulations concerning the allocation of unfunded vested benefits to employers that withdraw from multiemployer pension plans. This rule, in response to changes made by the Multiemployer Pension Reform Act of 2014, simplifies how employers' withdrawal liabilities are calculated, especially when a pension plan has reduced benefits or adjusted contributions. The changes aim to make it easier for plan sponsors to comply with statutory requirements while reducing administrative burdens. The new rules apply to employer withdrawals that occur in plan years starting on or after February 8, 2021.

    Simple Explanation

    The government body in charge of making sure retirement plans are fair has made new rules to help businesses understand how much they owe when they leave a big group retirement plan. These new rules make it easier for companies to figure out their payments, especially if the plan has changed how it pays out money or how much money it takes in.

  • 2021-02830 — Solicitation of Nominations for Appointment to the Advisory Committee of the Pension Benefit Guaranty Corporation
    Type:Notice
    Citation:86 FR 9091
    Reading Time:about 2 minutes

    The Pension Benefit Guaranty Corporation (PBGC) is seeking nominations for a position on its Advisory Committee. This committee advises the PBGC on various matters, including investment policies. The position is open for a general public representative, whose term will begin after February 19, 2021. Nominations must be submitted by March 29, 2021, and should include relevant qualifications and contact information for both the nominee and the person nominating them.

    Simple Explanation

    The PBGC is looking for someone to join a special team that gives advice on how to handle pension money, but they haven't given many details on what they're looking for in a person or how they'll choose.

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