![]() Some have not (e.g., plans with 2019 plan years beginning on July 1, 2019).ĬSEC plans that have already paid 2019 premiums based on prior law are eligible for a refund of the excess of what they paid over what they owe pursuant to the revised rules. ![]() Some CSEC plans have already paid their 2019 premiums. Assets underlying the UVB calculation, including whether and how to include contributions for the prior plan year made during the 8½ month period after the plan year ends.The per-participant cap on the variable-rate premium.Premium rates are not indexed after 2019.Įxcept for the SECURE Act changes, the provisions in PBGC’s premium regulations (29 CFR parts 40) and premium filing instructions continue to apply to CSEC plans.The liability underlying the UVB calculation (i.e., the present value of vested benefits) is determined using the plan’s funding assumptions (e.g., the plan’s selected discount rate and mortality table).The variable-rate premium is $9 per $1,000 of unfunded vested benefits (UVBs).The flat-rate premium is $19 per participant.Under the SECURE Act, starting with plan years beginning in 2019, premiums for CSEC plans are determined differently than for other single-employer plans. Summary of premium rules applicable to CSEC plans PBGC will amend its premium rates regulation (29 CFR part 4006) at a later date in a rulemaking to incorporate the SECURE Act premium changes. ![]() This guidance supersedes any inconsistent information with respect to CSEC plans in PBGC's premium filing instructions. This Technical Update provides Pension Benefit Guaranty Corporation (PBGC) guidance for cooperative and small-employer charity (CSEC) plans (as defined in section 210(f)(1) of ERISA) on filing PBGC premiums for 20 plan years that reflect the premium changes under the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). ![]()
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