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Additional Special Financial Assistance Questions and Answers

PBGC has added a new special financial assistance (SFA) Q&A webpage to provide information about the effect on SFA applications of any changes to PBGC’s SFA interim final rule.

PBGC is reviewing the comments submitted on the interim final rule and  has not yet determined whether, or to what extent, to make changes to the regulation.

PBGC is reviewing comments on the interim final rule and will move to publish a final rule when that review has concluded.  The final rule will reflect any changes to the interim final rule or in the absence of any changes, adopt the interim final rule “as is.”  

Yes.

If PBGC issues a final rule that makes any changes affecting the amount of special financial assistance for a plan, any such changes will not reduce the amount of special financial assistance payable to any plan that successfully submitted its initial application for special financial assistance before the publication of the final rule in the Federal Register.  Further, PBGC expects that if changes are made in the final rule and such changes would result in a greater amount of special financial assistance for plans that have already applied for, or received, special financial assistance before publication of the final rule, those plans will be able to receive the greater amount.

If a plan submits its initial application after PBGC publishes the final rule, the provisions of the final rule,  not the interim final rule, will be used to determine the amount of special financial assistance. 

Last Updated: September 21, 2021