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February 20, 2007 at 12:32 PM
The Pension Benefit Guaranty Corp. is starting to update the pension insurance premium structure.
The agency has proposed a rule to implement pension insurance premium provisions included in the Deficit Reduction Act of 2005 and the Pension Protection Act of 2006.
Since 1991, sponsors of single-employer defined benefit pension plans have been paying a flat rate of $19 per participant.
Sponsors of multiemployer plans have been paying $2.60 per participant since 1989.
The DRA has increased the rate to $30 per participant for single-employer plans and to $8 per participant for multiemployer plans.
