PBGC Issues Final Rule on Miscellaneous Provisions

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule providing minor clarifications and improvements to several miscellaneous provisions. Among other things, the rule would do the following.

•    Provides additional time for terminating plans to submit their final premium filing by amending the deadline to the earlier of the normal premium due date or 45 days after the date the post-distribution certification is filed. The change is applicable to plan years beginning on or after January 1, 2026.
•    Adds exceptions under ownership rules in distress terminations to mitigate potential misuse of option agreements and protect benefits of participants who are not direct owners or participate in the management of the company.
•    Eliminates certain reporting of withdrawal liability information for termination of an insolvent multiemployer plan receiving financial assistance from the PBGC.
•    Modifies methodology for determining the expense loading charge when calculating the present value of benefits for single-employer plans terminating in a distress or involuntary termination to allow indexing on its website. This change to the benefits valuation regulation applies to calculations where the valuation date is on or after January 31, 2026. 
•    Requires coverage determination requests and forms related to standard terminations and the Missing Participant Program to be submitted electronically.
•    Codifies the special premium rules for cooperative and small employer charity (CSEC) plans and certain community newspaper plans that were implemented in the Setting Every Community Up for Retirement Enhancement Act of 2019.

The amendments under this final rule generally apply as of September 15, 2025, and subject to the applicability dates noted.