The Pension Benefit Guaranty Corporation (PBGC) issued a notice outlining premium changes for 2013. The flat premium rate for the PBGC's single-employer plan termination insurance program will be $42 per participant in 2013 and $49 per participant in 2014, up from $35 in 2012. The premium rate for multiemployer plans will increase to $12 per participant in 2013, up from $9 in 2012. The rates are increased in accordance with the Moving Ahead for Progress in the 21st Century Act (MAP-21), and rates will be inflation adjusted in future years. The variable-rate premium will likely remain at $9 per $1,000 of unfunded vested benefits (before reflecting the $400 per participant cap) despite the addition of an indexing feature under MAP-21. The PBGC will confirm that rate before the end of the year.
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PBGC announces 2013 premium changes
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