Regulatory Updates
Regulatory Updates provide quick access to employee benefit regulations, rulings and other guidance released by governmental agencies in the U.S. and Canada.
New updates to this page may be included in Today’s Headlines which is emailed to International Foundation members each business day. Inquiries regarding these updates should be directed to the Benefits Knowledge Center at the International Foundation at (888) 334-3327, option 5 or [email protected].
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PBGC Updates SFA Documentation
Nov 3, 2023, 05:00
by
Ashley Schmidt
The Pension Benefit Guaranty Corporation (PBGC) updated several documents in the Special Financial Assistance (SFA) information collection. The updates include changes to the application instructions requiring the submission of census data in all participant categories to enable PBGC to perform an independent death audit to identify deceased pension plan participants.
In addition, PBGC has clarified the information that must be provided with the plan’s certification of the amount of the fair market value of assets, provided a toll-free number for plans to call to determine if the plan has outstanding debt, updated the model plan amendment regarding compliance to provide instructions if fewer than all trustees have executed the amendment, and clarified an example on the change of assumptions regarding CBUs.
The updated documents include: