2018 Justification for No Material Change

Justification for No Material or Nonsubstantive Change to Currently-Approved Collection
AGENCY:

Pension Benefit Guaranty Corporation (PBGC)

TITLE:

Termination Premium

STATUS:

OMB control number 1212-0064; expires May 31, 2020

CONTACT:

Stephanie Cibinic (202-326-4400 ext. 6352)

Section 4006(a)(7) of ERISA provides for a “termination premium” that is payable for three years
following certain distress and involuntary plan terminations. PBGC’s regulations on Premium Rates (29
CFR part 4006) and Payment of Premiums (29 CFR part 4007) implement the termination premium.
Sections 4007.3 and 4007.13(b) of the premium payment regulation require the filing of termination
premium information and payments with PBGC. PBGC has promulgated Form T and instructions for
paying the termination premium.
•

PBGC is updating the “Where to File” section of the Form T instructions with new payment and
correspondence lockbox addresses for the new financial institution PBGC is required to use (see
page 5 and 6 of the redlined document). PBGC also made one clarifying change (see page 3 of
the redlined document).

All changes are documented in the redline of the currently approved Form T Instructions submitted
through ROCIS.