The Pension Benefit Guaranty Corporation (PBGC) proposes that all reportable events filings using Forms 10 and 10-Advance include controlled group information, company financial statements, and the plan's actuarial valuation report.
Section 4043 of ERISA requires that plan administrators and sponsors notify PBGC of the occurrence of certain events that may indicate plan or employer financial problems and their ability to maintain a pension plan.
Five reportable events would be impacted:
- "Active Participant Reduction" and "Distribution to a Substantial Owner" would add all three types of information,
- "Transfer of Benefit Liabilities" and "Change in Contributing Sponsor or Controlled Group" would add one type of information, and
- "Extraordinary Dividend or Stock Redemption" would add two types of information.
Comments are due November 13, 2018.