May 28, 2020 . Welcome to Paraparaumu Beach Golf Club, New Zealand. PBGC is a federal agency that protects the retirement incomes of nearly 37 million US workers in private sector defined benefit pension plans and is currently responsible for the benefits of about 1.5 million people in failed pension plans. Find resources you need to help affected individuals claim the Health Coverage Tax Credit (HCTC) or enroll in the Advance Monthly Payment (AMP) program. The Pension Benefit Guaranty Corporation (PBGC) has announced two key appointments to its leadership team. PBGC Insurance Operations. We protect the retirement security of over 34 million Americans in single-employer and multiemployer pension plans. Notices to participants and beneficiaries must state clearly that their account balances are being transferred to the “Pension Benefit Guaranty Corporation’s Defined Contribution Missing Participants Program,” and include the PBGC’s website address and customer contact number. PBGC Customer Contact Center hours are 8:00 a.m. to 7:00 p.m. Eastern Time, Monday – Friday (except federal holidays). Call PBGC's Customer Contact Center: Call at 1-800-400-7242. That post is available here, and describes the DOL’s guidance on Missing Participants - Best Practices for Pension Plans (“Best Practices”). Thank you for your patience as we worked to resolve the outage. Notices to participants and beneficiaries must state clearly that their account balances are being transferred to the “Pension Benefit Guaranty Corporation’s Defined Contribution Missing Participants Program,” and include the PBGC’s website address and customer contact number. On the basis of its definition of small entity, PBGC certifies under section 605(b) of the Regulatory Flexibility Act (5 U.S.C. The PBGC Staff describes this two-step transaction as: Step 1: A spinoff of most plan participants into a new plan late in the year into a new plan that is virtually identical to the old plan, but with a new name, EIN, and plan number, leaving only a small group of retirees in the original plan. 1-800-400-7242. By fax: 202-842-2643 (call 202-326-4070 to confirm that the fax has been received). By providing PBGC with your email address, it will be used by PBGC to contact you regarding your account status (including confirmation of registration), and may be used to contact you for other purposes (for example, to notify you about major changes … The U.S. Supreme Court declined to review an appellate court ruling in a case brought against the PBGC by Delta pilots seeking $600 million. At that time, PBGC recommended that plan sponsors clarify their plan documents to specify which set of rates the plan uses. For general inquiries about the PBGC OIG and its operations, dial the OIG phone number: 1-800-400-7242 and then enter extension 4030 during local business hours. PBGC Practitioner Contact Center hours are 8:00 a.m. to 5:00 p.m. Eastern Monday – Friday (except federal holidays). Janice Brown-Taylor has been named Deputy Chief of Benefits Administration and Michael Hutchins is the Director for the Plan Asset & Data Management Department. This spreadsheet lists the active multiemployer pensions plans insured by PBGC. HQ Phone (202) 326-4000. Your plan's name or number, which can be found in the upper right corner of correspondence from PBGC. TTY/ASCII (American Standard Code for Information Interchange) users, call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 1-800-400-7242. That post is available here, and describes the DOL’s guidance on Missing Participants - Best Practices for Pension Plans (“Best Practices”). The Pension Benefit Guaranty Corporation (PBGC) has released its Fiscal Year (FY) 2020 Annual Report, which notes, among other things, that the expected insolvency date of the agency’s multiemployer insurance program has been delayed from FY 2025 to sometime in FY 2026.. background-color: aliceblue; The Pension Benefit Guaranty Corporation (PBGC) has contracted with Serco Inc. for field office support services. In fact, according to the PBGC’s own assessment, its funds for the single-employer program are expected to grow between 2019 and 2029 from $8.7 billion to $46.3 billion. Beneficiaries / Report Death of a Participant, Qualified Domestic Relations Orders and PBGC, State Life and Health Insurance Guaranty Association Offices, Missing Participants (Standard/Distress Terminations only), Federal Register Notices Open for Comment, ERISA Section 4044 Retirement Assumptions, Reportable Events & Large Unpaid Contributions, Workers, Retirees, & Beneficiaries in Single-Employer Plans, Workers, Retirees, & Beneficiaries in Multiemployer Plans. Last Update. We will update this message as we work to resolve the issue. Your plan's name or number.   PBGC Customer Contact Center hours are 8 a.m. to 7 p.m. Eastern Time, Monday Through Friday (except Federal holidays). More contact information “This year’s report illustrates that PBGC’s two insurance programs are in dramatically different financial positions,” Hartogensis said. The Pension Search Directory helps PBGC find people who are owed pensions they earned from private defined benefit pension plans that have been closed. In fact, according to the PBGC’s own assessment, its funds for the single-employer program are expected to grow between 2019 and 2029 from $8.7 billion to $46.3 billion. The PBGC, however, believed that $8.1 million of the surplus (earnings on employee contributions in excess of the plan rate as calculated under PBGC's "presumptive method") were "attributable to employee contributions," within the meaning of section 4044(d) (2) of ERISA, 29 U.S.C. position: fixed; Business Profile. We see that you have visited MyPBA before, would you like to be directed to this site. The PBGC expects the final rule will benefit multiemployer pension plans that adopt the simplified methodology by reducing the cost associated with the withdrawal liability calculation. [When submitting information by Internet E-Mail, … Pension Benefit Guaranty Corporation Field Operations Support Services. The case was investigated by the PBGC Office of Inspector General, with assistance from the U.S. Attorney’s Office for the Southern District of Florida and the Miami Gardens Police Department. 1-(202) 326-4030 between the hours of 8:00 AM and 5:00 PM, Monday through Friday. TTY/ASCII (American Standard Code for Information Interchange) users, call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 1-202-229-4343. For TTY/ASCII (American Standard Code for Information Interchange) users, call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 1-800-400-7242. Share . At that time, PBGC recommended that plan sponsors clarify their plan documents to specify which set of rates the plan uses. Located just 45 minutes drive from New Zealand's Capital City, Wellington, the course has hosted the New Zealand Open 12 times. … Pension Benefit Guaranty Corporation. The PBGC, however, believed that $8.1 million of the surplus (earnings on employee contributions in excess of the plan rate as calculated under PBGC's "presumptive method") were "attributable to employee contributions," within the meaning of section 4044(d) (2) of ERISA, 29 U.S.C. How can we help you? For assistance with premium filings, email: premiums@pbgc.gov or call 1-800-736-2444; For other PBGC submissions, such as ERISA 4010 filings, Reportable Events, and Multiemployer notices and financial assistance applications, access the e-Filing Portal PBGC’s Customer Contact Center phone system is experiencing high call volumes which has resulted in intermittent technical issues. The employers are usually in the same or related industries, such as transportation, construction, mining, and hospitality. The real PBGC customer contact center # is 1-800-400-7242 or (202) 326-4000, and the real web site is pbgc.gov. If you do not wish to use MyPBA, please contact PBGC by telephone or through regular mail. PBGC’s 2019 proposal called for the agency to adopt the Section 417(e)(3) methodology for lump sums paid by the PBGC. Multi Location Business Find locations. TTY/ASCII (American Standard Code for Information Interchange) users, call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 1-800-400-7242. On January 18, we published a blog post regarding new Department of Labor (“DOL”) guidance on missing plan participants. Hilary Duke (duke.hilary@pbgc.gov), Assistant General Counsel for Regulatory Affairs, Office of the General Counsel, 202-229-3839. PBGC Missing Participant Payments. Please read our privacy policy before sending an email to PBGC. The solution: The Pension Benefit Guaranty Corporation (PBGC), which was founded in 1974 and protects retirees if a pension plan becomes insolvent. Jeffrey Donahue could face 15 years in prison for conspiracy to bribe a public official. § 1344(d) (2), and therefore Firestone had a statutory duty to return that sum to the employees. The Bipartisan Budget Act, which was signed by President Obama on November 2, 2015, set PBGC premiums [16] as follows for single-employer pension plans: PBGC Practitioner Contact Center hours are 8:00 a.m. to 5:00 p.m. Eastern Monday – Friday (except federal holidays). Penney’s defined benefit plan is fully funded and is insured by the Pension Benefit Guaranty Corp., which will assume the plan’s assets and the … That could put your retirement at risk if the employer or its pension fund runs into trouble. Plan sponsors should contact the PBGC via email at the email address provided on the form for which they are eligible for a filing extension. On January 18, we published a blog post regarding new Department of Labor (“DOL”) guidance on missing plan participants. If you wish to be notified when new reports are posted to the OIG website subscribe to our RSS feed. The solution: The Pension Benefit Guaranty Corporation (PBGC), which was founded in 1974 and protects retirees if a pension plan becomes insolvent. The PBGC does not cover defined-contribution plans, such as a 401(k) or 403(b).In this article, we’ll show you what the PBGC can tell you about the health of your company’s pension plan. Please contact PBGC’s Customer Contact Center at 1-800-400-7242, to create your MyPBA account. That post is available here, and describes the DOL's guidance on Missing Participants - Best Practices for Pension Plans ("Best Practices"). Louisa Soulard Contact Information. [CDATA[/* >