The Office of Management and Budget has approved revisions to the Pension Benefit Guaranty Corporation’s standard termination, distress termination and missing participants forms and instructions. The new forms and instructions can be found on the Plan Terminations page of PBGC’s website.
These new forms, which cover standard termination of fully funded plans, distress termination of underfunded plans and distribution of benefits to participants who cannot be located, must be used for terminations for which the first Notice of Intent to Terminate is issued on or after June 1, 2014. If the first Notice of Intent to Terminate is issued before June 1, 2014, either the new or old forms may be used.
John Iekel is Senior Writer and Editor for the ASPPA Net and NTSA Net portals.
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