Pension Benefit Guaranty Corporation (PBGC) Regulation

Current understanding

To be populated as evidence accumulates.

Evidence log

• 2026-08-20 — Determination of Target Normal Cost and Funding Target for Single-Employer Defined Benefit Plans: cross-connection with single-employer-defined-benefit-funding: Funding target and target normal cost calculations under IRC §430 feed into PBGC variable-rate premium determinations and plan termination underfunding assessments. (novelty: 2)
• 2025-04-09 — Protecting Employees and Retirees in Business Bankruptcies Act of 2025: 2025 — Protecting Employees and Retirees in Business Bankruptcies Act of 2025 introduced; bill would elevate multiemployer pension-plan withdrawal liability claims in Chapter 11 priority, potentially affecting PBGC-insured plan recoveries when contributing employers file bankruptcy. (novelty: 3)
• 2026-06-11 — Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2027: 2026 — HR9260 (FY2027 Labor-HHS-Education appropriations) introduced; measure carries annual funding streams relevant to PBGC-adjacent pension oversight within the DOL/EBSA appropriations title. (novelty: 2)
• 2026-07-21 — Penalties for Failure To Provide Certain Notices or Other Material Information: PBGC proposed rule formalizing policies for calculating, imposing, and waiving monetary penalties on pension plans that fail to timely provide required notices or other material information to PBGC and participants. (novelty: 2)
• 2025-02-13 — Susan Muffley Act of 2025: 2025 — Susan Muffley Act of 2025 introduced, which would require PBGC to restore full vested monthly benefits (plus lump-sum back payments) to Delphi Corporation pension participants whose benefits were reduced following GM’s 2009 bankruptcy. (novelty: 2) (novelty: 2)
• 2026-05-21 — Form 5500 Filing Simplification Act: 2026 — House committee voted 22-12 to report the Form 5500 Filing Simplification Act (HR7362), which would streamline annual pension plan reporting filed jointly with DOL, IRS, and PBGC; PBGC relies on Form 5500 data for premium and funding oversight. (novelty: 2) (novelty: 2)
• 2026-06-16 — Technical Amendments: Special Financial Assistance: 2026 — PBGC proposed technical amendments to its Special Financial Assistance regulation clarifying permissible investments and withdrawal-liability settlement approval requirements, and repealing the provision allowing reallocation of employer contributions for health benefit costs. (novelty: 2) (novelty: 2)
• 2026-07-06 — Improvements to Rules on Recoupment of Benefit Overpayments: PBGC proposed rule would simplify recoupment of benefit overpayments in terminated single-employer plans by applying a flat 5% monthly benefit reduction rate and ending recoupment from surviving beneficiaries — reducing administrative complexity for PBGC and easing repayment burdens on retirees and survivors. (novelty: 2)

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