September 17, 2015

PBGC Issues Final Rules on Electronic Filing of Certain Multiemployer Plan Notices

On September 17, the Pension Benefit Guaranty Corporation (PBGC) issued final rules on the electronic filing of certain multiemployer plan notices. Effective for filings made after January 1, 2016, the rules require that the following notices be filed electronically with the PBGC:

  • Notices of termination under part 4041A of the Employee Retirement Income Security Act (ERISA)
  • Notices of insolvency and insolvency benefit level under parts 4245 and 4281 of ERISA (following mass withdrawal)
  • Applications for financial assistance under part 4281 of ERISA (following mass withdrawal)

Additional items to note:

  • PBGC will grant exemptions to the electronic filing requirement on a case-by-case basis in appropriate circumstances
  • The rules are unchanged from the proposed rules issued in April 2015 and do not affect the substance of the notices or how the notices are provided to participants and beneficiaries
  • The rules do not include any conforming amendments reflecting the Multiemployer Pension Reform Act of 2014 (MPRA); those amendments will be addressed in future guidance  

If you have questions regarding these rule, please contact your Segal consultant or send us a note.

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Serena Simons

Serena Simons

SVP, National Retirement Compliance Practice Leader