Participant Notices (PBGC.gov)

Section 4011 of ERISA requires certain underfunded plans to notify participants of the plan's funding status and the limits on the PBGC's guarantee. The PBGC's Participant Notice regulations are at 29 CFR Part 4011. The PBGC issues annual Participant Notice Technical Updates and informal guidance on complying with Participant Notice requirements. Under the Pension Protection Act of 2006, ERISA section 4011 is repealed for plan years beginning after December 31, 2006, and replaced by new disclosure requirements under ERISA section 101(f).

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Technical Update 06-3: 2006 Participant Notice (8/30/06)
Technical Update 05-1: 2005 Participant Notice (9/14/05)
Technical Update 04-4: 2004 Participant Notice (9/20/04)
Technical Update 03-17: 2003 Model Participant Notice (9/5/03)
Technical Update 02-2: 2002 Model Participant Notice (8/29/02)
(3/19/01)
Technical Update 00-5: Due Date 2000 Participant Notice (11/22/00)
Technical Update 00-2: 2000 Model Participant Notice (3/27/00)
Technical Update 99-1: 1999 Model Participant Notice (3/1/99)
Technical Update 98-1: 1998 Model Participant Notice (7/16/98)
Technical Update 97-2: 1997 Model Participant Notice (3/17/97)
Technical Update 96-5: 1996 Model Participant Notice (5/9/96)

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In preparation for previous Enrolled Actuaries Meetings, staff of the Pension Benefit Guaranty Corporation met with representatives of the Enrolled Actuaries Program Committee to discuss a number of questions.

Summaries of the questions and answers (in PDF format) discussed at the meetings are available here as a public service.

The summaries reflect the views of individual staff members and do not represent the official position of PBGC.

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PBGC regularly monitors plan compliance with Participant Notice requirements using, among other methods, electronic data comparison of information reported on PBGC premium and Form 5500 filings. Plan administrators that are identified by PBGC as being in potential noncompliance are provided an opportunity to demonstrate compliance. Plan administrators that have failed to issue a Participant Notice are generally required to issue a corrective notice and submit an amended Participant Notice certification, and are subject to penalties under ERISA section 4071. If a plan administrator determines that a required Participant Notice has not been issued, the plan administrator should issue the required notice as soon as practicable and amend the associated PBGC premium filing with an updated Participant Notice certification. The PBGC's Participant Notice Voluntary Correction Program has expired. However, if a plan administrator issues a corrective notice and amends appropriate PBGC premium filings prior to being contacted by PBGC, penalties may be reduced. Plan administrators with questions in this area can submit an e-mail to pnotice@pbgc.gov or mail a letter to:

Participant Notice Compliance Evaluation Program
Contracts and Controls Review Department
Pension Benefit Guaranty Corporation
1200 K ST NW STE 580
WASHINGTON DC 20005-4026

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Press Release: PBGC Proposes Expanded Enforcement for Failure to Inform Workers of Pension Underfunding (5/6/04)

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Current penalty policy : The PBGC's current penalty policy applies to Participant Notices and other types of information.
Proposed Rule : On January 12, 2001, the PBGC published a proposed rule that would, among other things, codify in its regulations an expanded version of its 1995 penalty policy.
Supplemental proposal : On May 7, 2004, the PBGC published a supplemental proposal on Participant Notice penalties.
Voluntary Correction Program ("VCP"): Expired. Generally provided penalty relief for Participant Notice failures for the 2002 and 2003 plan years to plans that corrected the failures in accordance with the guidelines.