The PBGC will publish a proposed rule in the Federal Register on Wednesday to implement a change in actuarial and financial reporting requirements mandated by the Pension Protection Act of 2006.
Under the PPA-mandated change, ERISA Section 4010 financial and actuarial filings would be required for any PBGC-insured plan that is less than 80% funded, said Gary Pastorius, a PBGC spokesman. Before the change, the filings were required when a plan’s unfunded vested benefits exceeded $50 million, Mr. Pastorius said.
“The proposed rule would provide guidance and clarification to plan administrators in complying with the changes to reporting requirements,” Mr. Pastorius said.
