The Pension Benefit Guaranty Corporation (PBGC) has proposed amendments to its multiemployer plan regulations which, if enacted, would allow for a more efficient and effective manner to provide information to the PBGC and plan participants. The proposed amendments would reduce the number of actuarial valuations that certain small terminated but not insolvent plans would need to prepare, shorten advance filing requirements for mergers in certain situations, and eliminate certain insolvency notice and update requirements imposed on plans. This is also part of the PBGC’s continuing efforts to stream-line and simplify burdens on plans, including multiemployer plans. Click here for more information.
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