Pensions get OMB nod to keep paperwork party going
Published Date: 1/21/2025
Notice
Summary
The Pension Benefit Guaranty Corporation (PBGC) just got the green light from the Office of Management and Budget (OMB) to keep collecting important info about pension plans. This means folks involved with pension plan mergers, transfers, and terminations can keep doing their paperwork smoothly until the listed expiration dates between 2027 and 2028. No new fees or changes, just a thumbs-up to keep things running on time!
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
PBGC continues termination disclosures
If you are involved in pension plan distress or a PBGC-initiated termination, PBGC will continue to collect required disclosure information under OMB Control Number 1212-0065. The current OMB approval for this collection runs through February 28, 2027, so the paperwork requirement remains in effect until that date.
Mergers and transfers paperwork stays valid
If you are involved in mergers or transfers between multiemployer pension plans, PBGC will continue collecting the required information under OMB Control Number 1212-0022. That OMB approval is valid through August 31, 2027, so filings tied to these rules remain governed by that approved collection until that date.
Partitions collection remains approved
If you are affected by partitions of eligible multiemployer plans, PBGC will keep collecting the required information under OMB Control Number 1212-0068. The OMB approval for that information collection expires on December 31, 2027, so the paperwork requirement stays in place through that date.
QDRO submissions approval extended
If you submit Qualified Domestic Relations Orders (QDROs) to PBGC, the information collection for those submissions (OMB Control Number 1212-0054) remains approved through January 31, 2028. This means QDRO-related paperwork to PBGC continues under the approved collection until that date.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-14627, Penalties for Failure To Provide Certain Notices or Other Material Information
The Pension Benefit Guaranty Corporation (PBGC) is proposing new rules to set clear penalties for pension plans that don’t send important notices or info on time. This affects pension plan managers who could face fines but might also get penalties waived in certain cases. Comments on these changes are open until September 21, 2026, so now’s the time to speak up!
2026-13639, Improvements to Rules on Recoupment of Benefit Overpayments
The Pension Benefit Guaranty Corporation is updating how it takes back money when it pays too much in benefits. Now, they'll recoup a flat 5% from a participant’s monthly benefit and won’t take money from surviving beneficiaries anymore. These changes affect people in single-employer plans and could make repayments simpler and fairer starting after the comment period ends on September 4, 2026.
2026-13124, Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
Starting July 31, 2026, the Pension Benefit Guaranty Corporation (PBGC) is updating how it calculates interest rates used to value benefits in single-employer pension plans that are ending. This change affects plan sponsors and employers involved in these plans, helping make sure benefit values match current market conditions. If you’re involved with these plans, get ready for new numbers that could impact how much money is set aside or owed.
2026-12648, Submission of Information Collections for OMB Review; Comment Request; Direct Express Enrollment Form
The Pension Benefit Guaranty Corporation wants to keep collecting info to help people sign up for the Direct Express debit card, which lets federal benefit recipients get their money electronically. They’re asking for public feedback by July 24, 2026, to make sure everything’s clear and easy. This won’t cost anyone extra but helps keep benefits flowing smoothly and safely.
2026-12100, Technical Amendments: Special Financial Assistance
The Pension Benefit Guaranty Corporation is updating rules about special financial help for pension plans. These changes clarify how plans can invest the money, when PBGC approval is needed for certain claims, and remove a rule about using funds for health costs. Plan managers and employers should note these tweaks and send comments by August 17, 2026.
2026-10805, Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans
The Pension Benefit Guaranty Corporation (PBGC) wants to keep collecting info about who’s responsible when single-employer pension plans end. This affects companies and workers involved in these plans and helps make sure everyone knows their duties. You’ve got until June 29, 2026, to share your thoughts, and this process keeps things running smoothly without extra costs right now.
Previous / Next Documents
Previous: 2025-01359, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Internal Revenue Service (IRS) Information Collection Request
The IRS is introducing a new form (Form 15426) to help federal, state, and local agencies request tax data smoothly and securely. This new process aims to boost teamwork before sharing sensitive tax info, with just about 15 agencies expected to use it, each spending roughly an hour. Comments on this plan are open until February 20, 2025, so jump in and share your thoughts!
Next: 2025-01363, ETF Opportunities Trust and Brookmont Capital Management, LLC
ETF Opportunities Trust and Brookmont Capital Management want to change how they handle agreements with their subadvisors without needing shareholder approval. They’re also asking to skip some usual fee disclosure rules. If you want to speak up, you have until February 10, 2025, to request a hearing.