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ARTICLE · 10 APRIL 2018

No Stone Unturned: Locating Missing Participants Under The PBGC's Expanded Program For Terminated Plans

McDermott Will & Emery
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The Pension Benefit Guarantee Corporation (PBGC) recently published a final rule expanding its program for managing the benefits of missing participants and beneficiaries in terminated retirement plans.

United StatesEmployment and HR
Maggie McTigue
Maggie McTigue
Sarah Engle
Sarah Engle
Brian Tiemann
Brian Tiemann
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Summary

The PBGC's missing participants program, which previously applied only to single-employer defined benefit pension plans, has been expanded to defined contribution plans, multiemployer defined benefit plans and small professional service defined benefit plans that end on or after January 1, 2018. The revised program provides a helpful alternative for plan administrators of terminating defined contribution plans, and also includes welcome clarifications that enhance the program available to defined benefit pension plans.

In Depth

The Pension Benefit Guarantee Corporation (PBGC) recently published a final rule expanding its program for managing the benefits of missing participants and beneficiaries in terminated retirement plans. Under the final rule, the PBGC's missing participants program, which previously applied only to single-employer defined benefit pension plans, has been expanded to defined contribution plans, multiemployer defined benefit plans

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