On June 6, 2016, the Pension Benefit Guaranty Corporation (“PBGC”) published a proposed rule regarding mergers and transfers involving multiemployer pension plans. The proposed rule can be found on the Federal Register.
The proposed rule provides guidance for requesting a facilitated merger under the Multiemployer Pension Reform Act of 2014 (“MPRA”), including a request for financial assistance from PBGC. The proposed rule also updates the existing regulation regarding mergers and transfers between multiemployer plans under section 4321 of ERISA.
Comments on the proposed rule may be submitted via www.regulations.gov or at reg.comments@pbgc.gov. Comments must be submitted within 60 days of the publication of the proposed rule, in other words, no later than August 5, 2016.
Update: On July 28, 2016, Horizon Actuarial Services, LLC submitted a comment on the proposed rule. More information can be found here.
The proposed rule provides guidance for requesting a facilitated merger under the Multiemployer Pension Reform Act of 2014 (“MPRA”), including a request for financial assistance from PBGC. The proposed rule also updates the existing regulation regarding mergers and transfers between multiemployer plans under section 4321 of ERISA.
Comments on the proposed rule may be submitted via www.regulations.gov or at reg.comments@pbgc.gov. Comments must be submitted within 60 days of the publication of the proposed rule, in other words, no later than August 5, 2016.
Update: On July 28, 2016, Horizon Actuarial Services, LLC submitted a comment on the proposed rule. More information can be found here.
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