On July 29, 2013, the Pension Benefit Guarantee Corporation (PBGC) issued proposed regulations that would simplify and streamline various aspects of the payment of employer premiums. If finalized, the proposed rules would take effect beginning in 2014. Currently, PBGC premium payment due dates are based on employer size. The proposed rule would alter the current payment schedule and provide that all employer premium payments, regardless of employer size, would be due 9 1/2 calendar months following the beginning of the premium payment year (October 15 for calendar-year plans). For new or newly covered plans, the proposed rule provides that the first payment is due within 90 days after coverage begins.

Additionally, the proposed rule also alters the premium due date for terminating plans. Under the proposed rule, the premium due date for a terminating plan's final year would be the earliest of (a) the normal premium due date, (b) the last day by which the postdistribution certification can be filed without penalty, or (c) the date when the postdistribution certification is actually filed.