Regulatory Updates

PBGC COVID-19-Related Compliance FAQs for DB Plans

The Pension Benefit Guaranty Corporation (PBGC), the agency that provides benefit insurance for many single-employer defined benefit (DB) pension plans, has issued frequently-asked-question (FAQ) compliance guidance for these plans as their sponsoring employers deal with the coronavirus (COVID-19) pandemic. Included in these FAQs are the following.

  • Extended deadline to make required plan contributions
  • PBGC processing of distress termination applications
  • PBGC collection of termination liabilities
  • Early Warning Program inquiries during the pandemic
  • Reporting of minimum required contribution failures

Regulatory Updates

SEC Proposal to Modernize Reports and Disclosures

The SEC has announced a proposal to modify and modernize the disclosure framework of mutual funds and exchange-traded funds that is intended to better serve the needs of retail investors.