Regulatory Updates
PBGC Issues Temporary Waiver for Reporting Attrition Events
Published September 21, 2026
The Pension Benefit Guaranty Corporation (PBGC) issued Technical Update 26-1, temporarily waiving the requirement to report a reduction in the number of active participants covered by the plan if due to an attrition event. The waiver is prospective; it only applies to plans whose reportable event notices are due on or after September 18, 2026.
Based on PBGC’s review of recent reportable event filings, waiving this reporting requirement will reduce compliance burdens for plan administrators and sponsors while preserving PBGC’s ability to receive timely notice of workforce reductions through the single-cause event reporting requirement.
ERISA Section 4043 requires that PBGC be notified of certain “reportable events.” Under the Code of Federal Regulations Title 29 Part 4043.23, an active participant reduction reportable event occurs if either a single-cause event or an attrition event occurs.