Pension Benefit Guaranty Corporation (PBGC) requests the Office of Management and Budget (OMB) approve a collection of information necessary to determine whether a plan is covered under title IV of the Employee Retirement Security Income Act of 1974. The proposed form and instructions would be used by a plan sponsor or plan administrator to request a coverage determination for church plans, plans that are established and maintained exclusively for the benefit of plan sponsors' substantial owners, plans covering no more than 25 active participants, and Puerto Rico-based plans.
After consideration of recommendations, PBGC made some changes to the form and instructions. Among the changes, PBGC modified the form and instructions to enable certain plans not yet established to use the form to request an opinion from PBGC. The instructions now explain that, under a pilot program, a plan that is proposed but not yet established may request an opinion from PBGC as to whether the sponsoring employer is a professional service employer under section 4021(b)(13) of ERISA or whether all participants are substantial owners under section 4021(b)(9). PBGC is requesting that OMB approve of the collection for three years.
Comments must be submitted by June 7, 2019.
(Updated May 8, 2019)
Pension Benefit Guaranty Corporation (PBGC) intends to request Office of Management and Budget (OMB) approval of a form and instructions to be used when submitting a coverage determination request. The collection of information is necessary for PBGC to determine whether a plan is covered under title IV of the Employee Retirement Security Income Act of 1974.
The proposed form and instructions
list the information and documents required for PBGC to make a coverage determination.
(Posted December 4, 2018)