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Reportable events

COVID-19-Related Single-Employer Plan Sponsors and Administrators Questions and Answers

The following questions and answers provide guidance related to plan sponsor obligations and PBGC operations in light of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the COVID-19 pandemic.

Reportable Events – Missed Contributions

As a result of the CARES Act,1 required contributions (including quarterly contributions) that would otherwise be due in 2020 are now due January 1, 2021.

Active Participant Reduction Reportable Events

Active Participant Reduction Reportable Events

 

This Technical Update 17-1 provides Pension Benefit Guaranty Corporation (“PBGC”) guidance on compliance with the active participant reduction event requirements of section 4043(c)(3) of the Employee Retirement Income Security Act of 1974 (“ERISA”) and PBGC’s regulation on Reportable Events and Certain Other Notification Requirements (29 CFR part 4043.23(a)).

Opinion Letter 76-11

Pension Benefit Guaranty Corporation 76-11 Janua ry 20, 1976 RE FERENCE: [*1] 404 3(b)(8) Reportable Events. Mergers, Consolidations & other Transfers of Plan Assets OP INION: This is in r esponse to your inquiry as t o whether the * * * may transfer a portion of the assets in a certain pensionfund to the new retirement plan established by the * * * I wish to confirm what * * * an attorney in this office, told yo u in a rec ent telephone conversation.

Opinion Letter 76-46

Pension Benefit Guaranty Corporation 76-46 April 2, 1976 RE FERENCE: [*1] 2 08 Mergers, Consolidations and other Transfers of Plan Assets404 3(b)(8) Reportable Events. Mergers, Consolidations & other Transfers of Plan Assets OP INION: Th is has reference to your March 5, 1976 letter. You state that you r client proposes to transfer the funding of apensi on plan from a deposit administrat ion group annuity to a trust fund administered by a bank. Neither the bene fitsnor contributions are to be curtailed.

Opinion Letter 75-90

Pension Benefit Guaranty Corporation 76-90 July 9, 1976 RE FERENCE: [*1] 404 4 Allocation of Assets OP INION: This i s in response to your letter asking what distribution options must be offered to pa rticipants upon the termin ation of the * * * Retirement Plan (the "Plan"). As I unde rstand the pertinent facts, * * * (the "Company") has ado pted an amendment to the Plan whi ch changesit to a profit- sharing plan.

Opinion Letter 76-121

Pension Benefit Guaranty Corporation 76-121 December 22, 1976 RE FERENCE: [*1] 404 3(b)(3) Reportable Events. Decrease in Participants OP INION: Th is is in response to your letter of * * * referred to this Corporation by * * * * * * You ask whether the above- referenced plan has experienced a reportable event under Section 4043(b)(3) ofthe Employee Retirement Income Security Act of 1974 (the Act) due to reductions in parti cipation during the previoustwo p lan years.

Opinion Letter 76-114

Pension Benefit Guaranty Corporation 76-114 October 1, 1976 RE FERENCE: [*1] 404 3(b)(2) Reportable Events. Amendment Decreasing Benefits OP INION: This is in r esponse to your letter dated * * * concerning the applicability of Section 4043(b)(2) of the Employee Retirement Income Security Act of 1974 (the "Act") to the adoption of an amendment to a covered plan under which the life insuran ce benefit under the plan is eliminated.

Opinion Letter 81-20

Pension Benefit Guaranty Corporation 81-20 July 15, 1981 RE FERENCE: [*1] 4 043. Reportable Events29 C FR 2617 Determination of Plan Sufficiency & Termination of Sufficient Plans OP INION: This i s in response to your inquiry as to w hether a reportable event occurs under the Pension Benefit GuarantyC orporation's regu lation on Repo rting and Notification Requirements for Reportable Events, 29 C.F.R.

Opinion Letter 75-07

Pension Benefit Guaranty Corporation 75-7 May 9, 1975 RE FERENCE: [*1] 2 08 Mergers, Consolidations and other Transfers of Plan Assets101 5(l). (IRC § 414) Definitions and Special Rules. Mergers, Consolidations and Other Transfers of Plan Assets404 3(b)(8) Reportable Events. Mergers, Consolidations & other Transfers of Plan Assets OP INION: Th is is in res ponse to your letter to us concerning the merger of the * * * and * * * into the * * * This will also serveto co nfirm your recent telephone conversation with * * * of our office.

Opinion Letter 85-08

Pension Benefit Guaranty Corporation 85-8 April 2, 1985 REFERENCE: [*1] 4043(b) Reportable Event. Definition of Reportable Event 4043(b)(8) Reportable Events. Mergers, Consolidations & other Transfers of Plan Assets 29 CFR 2615 Reporting & Notification Requirements for Reportable Events 4062(b) Liability of Employer in Single Employer Plans. Amount of Employer Liability 4062(e). Liability of Employer in Single Employer Plans.

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