PBGC Revises Standard and Distress Termination Forms and Instructions

By ASPPA Net Staff • January 30, 2015 • 0 Comments
The Pension Benefit Guaranty Corporation (PBGC) on Jan. 29 announced that the Office of Management and Budget has approved revisions it made to the forms and instructions for standard and distress terminations and missing participants.

Under the revisions, a plan administrator of a plan terminating in a standard termination (or a distress termination that closes out in the private sector) must submit, with the post-distribution certification, the most recent plan document and proof of benefit distributions for lump sums paid and annuities purchased.

Plan administrators must provide this information with any post-distribution certification filed on or after March 1, 2015. Filers can obtain additional information by sending an email to: standard@pbgc.gov or distress@pbgc.gov.