Pension Plans: Routine OMB Review Comment Period
Published Date: 3/10/2025
Notice
Summary
The Pension Benefit Guaranty Corporation (PBGC) wants to keep collecting info from multiemployer pension plans to make sure everything runs smoothly. They’re asking the public to share thoughts by May 9, 2025. This helps protect workers’ retirement money without adding extra costs or delays.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Benefit Reductions and Suspensions if Plan Insolvent
If a plan's nonforfeitable benefits are greater than plan assets, the plan sponsor must amend the plan to reduce benefits. If the plan becomes insolvent, the sponsor must suspend certain benefits that cannot be paid, and may seek financial assistance from PBGC.
Cap on Lump‑Sum Payments in Mass Withdrawals
If your multiemployer plan terminates because of a mass withdrawal, the plan generally may not pay lump sums larger than $1,750 or pay nonvested plan benefits unless PBGC specifically authorizes it. This rule applies to mass‑withdrawal‑terminated plans and affects how much cash you can get when a plan ends.
Required Notices to Participants About Insolvency and Elections
Plan sponsors must give participants and beneficiaries notices about termination elections, notices of insolvency, and notices stating the insolvency benefit level (these may be combined). Participants use these notices to make personal financial decisions; updated notices to participants are required only if the amount of benefits paid changes.
Alternative Filing Option for Smaller Plans ($50M Threshold)
For smaller multiemployer plans receiving PBGC financial assistance where the present value of the plan's nonforfeitable benefits is $50,000,000 or less, the plan may file alternative information instead of a full actuarial valuation when reporting to PBGC.
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: 2025-03755, Center for Scientific Review; Notice of Closed Meetings
The NIH’s Center for Scientific Review is holding several closed virtual meetings in April 2025 to review and decide on important grant applications related to brain science and health. These meetings protect private info and trade secrets while helping decide who gets research funding. Scientists applying for grants should note these dates as they impact which projects get money.
Next: 2025-03757, Proposed Submission of Information Collection for OMB Review; Comment Request; Request for Coverage Determination Form
The Pension Benefit Guaranty Corporation (PBGC) wants to keep collecting info to decide if retirement plans are covered by law, but with some updates. This affects employers and plan administrators who fill out the Request for Coverage Determination Form. They’re asking for your thoughts by May 9, 2025, and there’s no new cost, just a smoother process ahead!