Mercer Select US - No PBGC reporting waiver for 2009 missed quarterly pension contributions

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No PBGC reporting waiver for 2009 missed quarterly pension contributions

All pension plan sponsors will have to notify the PBGC within 30 days after they know or have reason to know they missed a required pension contribution (unless the contribution is made within 30 days after the due date). Before 2009, the PBGC automatically waived reporting of missed quarterly contributions for employers with no more than 100 participants in all controlled group pension plans, or with 100-500 participants if the missed quarterly was to a well-funded plan. On Feb. 20, the PBGC announced it would grant no such waiver for 2009. The PBGC may still grant case-by-case waivers. (Select News, 25 Feb 2009)

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