PBGC's missing participants program now covers defined contribution plans
By Milliman Employee Benefits Research Group
05 February 2018
The Pension Benefit Guaranty Corporation’s (PBGC) recently released final rule updating the agency’s regulations on missing participants in terminated single-employer defined benefit (DB) plans newly extends the program to retirement plans not previously covered. These include most defined contribution (DC) retirement plans, PBGC-covered multiemployer pension plans (MEPPs), and small professional organizations’ DB plans. The final rule applies to plans- other than MEPPs- that terminate on or after January 1, 2018, and gives DC plan sponsors the option to transfer the assets to the PBGC rather than to establish individual retirement accounts at a financial institution for the missing participants.
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Milliman Employee Benefits Research Group
PBGC's missing participants program now covers defined contribution plans
CAB 18-1: The Pension Benefit Guaranty Corporation’s recently released final rule updating the agency’s regulations on missing participants in terminated single-employer defined benefit plans newly extends the program to retirement plans not previously covered.
Milliman Employee Benefits Research Group