PBGC Updates SFA Documentation

The Pension Benefit Guaranty Corporation (PBGC) updated several documents in the Special Financial Assistance (SFA) information collection. The updates include changes to the application instructions requiring the submission of census data in all participant categories to enable PBGC to perform an independent death audit to identify deceased pension plan participants. 

In addition, PBGC has clarified the information that must be provided with the plan’s certification of the amount of the fair market value of assets, provided a toll-free number for plans to call to determine if the plan has outstanding debt, updated the model plan amendment regarding compliance to provide instructions if fewer than all trustees have executed the amendment, and clarified an example on the change of assumptions regarding CBUs.

The updated documents include: