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CCH® PENSION AND BENEFITS — 7/28/06

PBGC extends reporting relief for employers that valued benefits using PFEA interest rate

The Pension Benefit Guaranty Corporation has extended the waiver, granted in PBGC Technical Update 06-1 (see CCH Pension Plan Guide ¶19,975Z-10), of reporting by certain employers of financial and actuarial information under ERISA §4010. The waiver now applies to filings for information years ending on or after December 31, 2005, and on or before December 30, 2006, for employers who would not be required to file if vested benefits were valued using the Pension Funding Equity Act (PFEA) 85% Corporate Rate for purposes of determining whether a 4010 filing is required. The PBGC extending this reporting relief because pending legislation creates uncertainty as to which interest rate will be applicable. According to the PBGC, this Technical Update has no effect on the determination of premiums or any other reporting requirements.

For more information on this and related topics, consult the CCH Pension Plan Guide.

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