The Pension Benefit Guaranty Corp. has proposed some relief for sponsors of single and multiemployer pension plans who are tardy on premium payments.
The federal agency charged with guarantying the country’s private-sector pension plans says that as premiums have risen, so have the penalties on late payments.
"We think penalties should be no more than necessary to encourage timely payments," said PBGC Director Tom Reeder in a release. Reeder was appointed and confirmed to lead the agency last year. "I'm committed to doing everything I can to help companies keep their pension plans."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
