Justification for OMB approval of no material or nonsubstantive change to currently approved information collection 1212-0013
The Pension Protection Act of 2006 (PPA 2006) changed plan funding rules and the related variable-rate premium (VRP) rules. PBGC’s reportable events regulation contains provisions — dealing with waivers, extensions, and reporting thresholds — that refer to the funding and VRP rules. In 2009, PBGC published a proposed rule to amend the reportable events regulation to accommodate the changes (and make other modifications), http://www.pbgc.gov/Documents/E9-28056.pdf . Based on comments and in the spirit of Executive Order 13563, PBGC will re-repropose the rule. However, practitioners need guidance about how to apply the existing regulation before the amendments go into effect.
Technical Update 11-1 would simply maintain the status quo by extending for 2012 plan years the guidance PBGC provided for 2011 plan years.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | ldoon39 |
| File Modified | 0000-00-00 |
| File Created | 2021-01-31 |