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 Adjusts 2025 Civil Penalties for Failure to Provide Information
The Pension Benefit Guaranty Corporation (PBGC) issued a final rule to adjust the penalties for failure to provide certain notices, including multiemployer plan notices, for annual inflation as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The rule adjusts the maximum civil penalties provided for in sections 4071 and 4302 of the Employee Retirement Income Security Act of 1974 (ERISA).
The new maximum amounts are:
- $2,739 per day for section 4071 penalties for failure to provide certain notices or other material information (up from $2,670 per day in 2024).
$365 per day for section 4302 penalties for failure to provide certain multiemployer plan notices (up from $356 per day in 2024).
The amounts were issued by the Office of Management and Budget (OMB) in memorandum M-25-02 released on December 17, 2024.
The adjusted amounts are effective on January 8, 2025.