PBGC Looking For Ideas

On their blog the Pension Benefit Guaranty Corporation (PBGC) expressed interest in ideas on what information to make available.

  • What PBGC data or content should be more readily available?
  • Which PBGC online service or data would you like to be easier to use?
  • Which PBGC service would you like to use on your mobile device?

You can submit your feedback to Opengov@pbgc.gov. Here is mine.

PBGC already supplies some useful spreadsheets that can be manipulated:

Since the identifier numbers (EIN and PN) are provided you can go to http://www.efast.dol.gov and find the corresponding 5500 filings to check out funded status but it would be helpful, especially for Single-Employer plans, to see numbers from the premium filings including the amount of the premium and the asset and liability amounts for calculation of the variable rate portion of the premium.

This would provide a truer measure of the funded status of many Single-Employer plans as the PBGC factors approximate those in PPA before the MAP-21 and HATFA ‘relief’.  Whereas Multiemployer plans report liabilities using RPA ’94 rates approximating the lower PPA rates, there is no place other than the PBGC calculation of the variable rate premium amount where Single-Employer Plans show this higher liability amount.

Revealing what plans are paying in PBGC premiums, especially in a historical context, would also be helpful in explaining why there are so many fewer Defined Benefit plans these days.

5 responses to this post.

  1. Posted by skip3house on December 5, 2017 at 1:04 pm

    The 401K -like systems are free of bad figuring, and should be maintained as best able upon being hired. Just use safe stuff like S&P 500,…..

    Reply

  2. Posted by dentss dunnigan .... on December 6, 2017 at 11:22 am

    It’s the only fair way …..SLO County will cover its pension shortfall by making employees pay more ….http://www.sanluisobispo.com/news/local/article188148294.html

    Reply

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