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PBGC Releases 2012 Premium Payment Instructions

The Pension Benefit Guaranty Corporation (PBGC) released its 2012 Premium Payment Instructions guide, which provides information for defined benefit plans paying premiums for plan years beginning in 2012 and also includes instructions for each data element that must be reported. The 2012 Premium Payment Instructions are available here.

PBGC Issues Guidance on Reportable Events

The Pension Benefit Guaranty Corporation (PBGC) released a Technical Update providing temporary guidance on compliance with certain reportable events requirements under Section 4043 of ERISA. The update addresses two issues: (1) valuing assets, vested benefits and unfunded vested benefits for plan years beginning in 2012, and (2) the waiver of or a simplified notice for reporting certain missed quarterly contributions for small plans for the 2012 plan year. This guidance is available here.

Early Retiree Reinsurance Program Ending

The Centers for Medicare and Medicaid Services (CMS) announced that, based on the funding available for the Early Retiree Reinsurance Program (ERRP), CMS will be denying any request for reimbursement for claims incurred after December 31, 2011. The ERRP was established by the health care reform law to reimburse plan sponsors for a portion of the cost of providing health coverage to early retirees. This announcement is available here.

December 2011
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