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ARTICLE · 25 MARCH 2015

2015 PBGC Premium Filings Must Include Risk Transfer Disclosures

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The Pension Benefit Guaranty Corporation (the "PBGC") recently finalized its premium filing requirements for 2015.

United StatesEmployment and HR
Justin Alex
Justin Alex
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The Pension Benefit Guaranty Corporation (the "PBGC") recently finalized its premium filing requirements for 2015.  In addition to higher premium rates and other more minor changes, plan sponsors are now required to report information about the number of former employees involved in certain risk transfer activities (i.e., annuity purchases and lump sum windows) that occurred at least sixty days prior to the premium filing date in the current premium payment year or during the prior premium payment year.   

In the case of lump sum windows, plan sponsors must separately report the following information for participants in pay status and participants not in pay status: 1) the number of participants who were eligible for lump sums and 2) the number of participants who elected to receive lump sums.  In the case of annuity purchases, plan sponsors must report: 1) the number of participants in pay status at the time of the annuity purchase and 2) the number of participants

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