ERIC takes issue with PBGC at-risk plan proposal

The ERISA Industry Committee supports new regulations proposed by the Pension Benefit Guaranty Corporation that would tinker with premium payments, premium rates and reduce regulatory burdens, but is against a provision that would apply loading factors to premiums of at-risk plans.

In a letter to the PBGC, ERIC said it appreciated the efforts of the PBGC and its response to the concerns of plan sponsors. It supports the proposal to change the premium due date for large plans and the proposal to lower the self-correction penalty cap. It does believe that the PBGC should not apply loading factors to premiums for plans that are at-risk.