PBGC Issues Proposed Regulations on Guaranteed Benefits, Asset Allocation, and Interest Rate Assumptions | Practical Law
The Pension Benefit Guaranty Corporation (PBGC) has issued proposed regulations that would amend the PBGC's regulations governing terminated, underfunded single-employer defined benefit plans, including its regulations concerning benefit payments, allocation of assets, and employers' liability to the PBGC. The PBGC issued a separate set of regulations that would modify the interest rate assumptions used in determining whether a benefit is de minimis, as required for the benefit to be paid in a lump sum. Public comments on both sets of regulations are due November 29, 2019.