8 Jan 2025
⚖️PBGC Announces Civil Penalty Adjustments for 2025 Compliance
Adjustment of Civil Penalties for Inflation
Summary
The Pension Benefit Guaranty Corporation is required to amend its regulations annually to adjust for inflation the maximum civil penalty for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices.
Agencies
- Pension Benefit Guaranty Corporation
Business Impact
$$ - Med
The adjustment of civil penalties by the Pension Benefit Guaranty Corporation introduces new compliance requirements for businesses, specifically regarding the provision of notices under ERISA. The new penalties of $2,739 and $365 can have financial implications for organizations failing to meet these regulatory obligations post-January 8, 2025.