PBGC Issues 2023 Premium Filing Instructions
Published November 11, 2022
The Pension Benefit Guaranty Corporation (PBGC) has posted Comprehensive Premium Filing Instructions for 2023 plan years. The filing requirements for 2023 are almost identical to the filing requirements for 2022.
Key changes to note for 2023:
- Changes in premium rates:
- Single-employer plans other than cooperative and small-employer charity (CSEC) plans: The flat-rate premium is $96 per-participant, up from $88: The variable-rate premium is $52 per $1,000 of unfunded vested benefits capped at $652 times the number of participants, up from $48 per $1,000 of unfunded vested benefits capped at $598 times the number of participants.
- Multiemployer Plans: The flat-rate premium is $35 per-participant, up from $32. Multiemployer plans do not pay variable-rate premiums.
- Note that premium rates for CSEC plans are not indexed, and thus those rates have not changed.
- The Premium Customer Service email address has changed from [email protected] to [email protected]. Emails sent to the old address will be forwarded to the new mailbox.
My PAA will be ready to accept 2023 premium filings on Monday, January 9, 2023.