The Pension Benefit Guaranty Corporation has opted to waive penalties and extend deadlines to plan administrators and sponsors working in areas of New Jersey affected by Hurricane Sandy, effective Oct. 26, 2012 through Feb. 1, 2013.

The ruling affects administrators and sponsors dealing with plans based in Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean, Somerset and Union counties, and may be expanded if the IRS adds additional areas in connection to those filing extensions.

The full statement by the PBGC is as follows:

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