PBGC Issues Guidance on New Special Financial Assistance Pro

TBD, given 21 days warning, no later than February 11, 2023
22
6
Plans for which PBGC computes the present value of financial assistance under ERISA § 4261 to be in excess of $1 billion (in the absence of SFA)
TBD, given 21 days warning, no later than February 11, 2023
11
Proskauer Observation:
The dates set forth in the above chart are somewhat malleable in that the PBGC may accelerate the date for a priority group depending on the number of applications submitted and other factors.
The IFR also provides that an additional seventh priority group may be added, but the application deadline for such a group would be no later than March 11, 2023. The IFR allows for the processing of certain emergency filings beginning with priority group number two.

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