The PBGC issued a revised model letter that certain employers with underfunded pension plans can use to notify plan participants of their plans' funding levels. An estimated 3,000 large plans started sending the notice last year, but smaller plans with 100 or fewer participants were exempt in 1995.
Companies with plans that are less than 90% funded are required to send the notice. The agency estimates about 4,000 small plans will need to send it this year. The revised notice includes the PBGC's 1996 maximum guarantees and also tells workers where they can get more information on the agency's guarantees.