The Pension Benefit Guaranty Corp. has proposed allowing multiemployer plans to electronically file plan termination notices, notices of insolvency and applications for financial assistance.
The proposed change is part of PBGC's ongoing implementation of the Government Paper Elimination Act, according to a filing of the proposal in the Federal Register.
Multiemployer plans are already required to electronically file other documents. The idea is to save taxpayers even more time and money, including reducing the need for plan administrators to contact PBGC.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
