Dealing with PBGC Reportable Events: A Practical Guide for Employers and Their Advisors

A live 90-minute CLE webinar with interactive Q&A


Tuesday, January 24, 2017 (in 6 days)
1:00pm-2:30pm EST, 10:00am-11:30am PST


This CLE webinar will provide practical guidance on meeting the challenges posed by the reportable events rules, with a focus on how those rules interact with the PBGC’s Early Warning Program.

Description

The PBGC made major modifications, effective in 2016, to its reportable events rules. Complying with these complex rules can be challenging for employers, particularly since reporting is triggered by events that arise on a sporadic basis and that may involve only some distant member of the contributing sponsor’s “controlled group.” Corporate finance and HR staff, as well as their advisors, need to have a solid understanding of these rules so that they can properly identify and plan for events that are reportable and timely report them to PBGC.

Occurrence of a reportable event can have serious consequences under corporate loan and other agreements, and may lead to PBGC threatening to initiate an involuntary termination of a pension plan and thus potentially triggering an enormous liability. In addition, failure to comply with the rules in a timely manner not only can have serious consequences under corporate loan and other agreements but can also result in a penalty of up to $2,063 per day for so long as the delinquency continues, with the full penalty assessed separately against each contributing sponsor and each plan administrator required to report the event.

The new regulations significantly change the definitions of many of the reportable events, in some cases dramatically expanding the scope of the reportable event. For example, while the “loan default” reportable event rules were previously structured to ensure that “technical” defaults would not have to be reported, the new rules not only clearly capture “technical” defaults, but also for the first time require reporting even of non-defaults where the lender waives or agrees to an amendment of a covenant the effect of which is to cure or avoid a breach that would trigger a default.

The new regulations also eliminate most of the reporting extensions, and significantly revise the reporting waiver rules. For example, there is now a more stringent test for waivers based on the level of pension plan funding and a new focus, for waiver purposes, on the financial risk profile of the employer responsible for funding the pension plan.

Listen as our experienced panel provides practical guidance to meet the challenges of dealing with the PBGC’s Early Warning Program and its reportable events rules, one year after implementation of those rules.

Outline

  1. PBGC Involvement in Corporate and Plan Events, Transactions, and Trends
  2. Types of Corporate and Plan Events, Transactions, and Trends of Concern
  3. PBGC’s Information Needs and Desires
  4. Understanding the New PBGC Reportable Events Requirements
  5. Dealing with PBGC Reporting: Strategies and Pitfalls
  6. Settling Disputes with PBGC: Strategies and Pitfalls

Benefits

The panel will discuss these and other important topics:

  • How can employers ensure that potential reportable events are properly identified based on coordination among multiple controlled group entities and their advisors?
  • What are the key reporting requirements that are most likely to be overlooked by employers and their advisors, and what options are available to deal with penalty assessments?
  • How can employers deal effectively with reportable event issues in the context of loan and other corporate agreements?
  • What steps is PBGC likely to take in response to a reportable event filing, and how can employers deal effectively with PBGC demands for additional funding of pension plans?

Faculty

Harold J. Ashner, Partner
Keightley & Ashner, Washington, D.C.

Mr. Ashner's nationally-recognized boutique law firm in Washington, DC, practices in a broad range of areas relating to employee benefits and employment law. He previously served as Assistant General Counsel for Legislation and Regulations at PBGC, where he drafted or supervised virtually all regulations and policies issued by PBGC from 1988 until he left the agency in early 2005, along with PBGC’s General Counsel and Deputy General Counsel, to form Keightley & Ashner LLP. He is the author of several publications on PBGC-related matters and a frequent speaker on such matters at professional conferences, serves in various leadership roles with the American Bar Association, and is routinely retained by major law firms, actuarial consulting firms, investment banking firms, and employers to deal with PBGC-related issues.

Deborah A. Tully, FSA
Pine Cliff Consulting, Framingham, Mass.

Ms. Tully's firm specializes in actuarial consulting that focuses on retirement plan financial management, strategy, and compliance. She has extensive experience with complex retirement and benefits issues including communications to senior leaders, board members, investors, legislators and regulators.She has testified on pension issues before Congress and is a current member of the ERISA Advisory Council to the Department of Labor. Prior to joining her firm, she was the Senior Director of Compensation & Benefits Finance for Raytheon Company. Before joining Raytheon, she was a consulting actuary with Mercer, Aon and Buck Consultants.


Live Webinar

Live Webinar $297.00

Add a colleague on the same connection in the same room for only $97.00 in the shopping cart or by calling customer service.

This webinar is eligible for at least 1.5 general CLE credits.

CLE credits are not available for PR.

*In KS, OH, PA, for more than 1 attendee on the connection you must contact Strafford CLE via email or call 1-800-926-7926 ext. 35 prior to the program for special instructions.


Recordings

CLE On-Demand - Streaming Video

Includes recorded streaming video of full program plus PDF handouts.

On-demand is the only recorded format recognized for CLE credits in DE, IN, KS, LA, MS, NC, OH, OK, SC, TN, VA, WI.

AK, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN*, KS, KY, LA, ME, MN, MO, MT, NC, ND, NH**, NJ, NM, NV, NY, OH*, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.

**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.

CLE On-Demand Video $297.00
Available 48 hours after the live event

How does this work?


Recorded Event

Includes full event recording plus handouts (available after live webinar).

Strafford is an approved provider and self-study CLE credit is available in most states.

AK, AZ, CA, CO, CT, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NM, NY, OR, PA, TN, TX, UT, VT, WA, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

Strafford will process CLE credit for one person on each recording.

Additional copies of a recording can be purchased at a discount. Please call Strafford Customer Service toll-free at 1-800-926-7926 ext 10 or email customerservice@straffordpub.com to place your order.

Recorded Webinar Download $297.00
Available 48 hours after the live event

How does this work?

Recorded Audio Download (MP3) $297.00
Available 24 hours after the live event

How does this work?

DVD (Slide Presentation with Audio) $297.00 plus $9.45 S&H
Available ten business days after the live event

How does this work?


Registration Plus Recorded Event

Best value!

Live Webinar & Webinar Download $394.00

Recorded Webinar Download Only $97.00 with Registration/Webinar Combo

Live Webinar & Audio Download $394.00

Recorded Audio Download (MP3) Only $97.00 with Registration/MP3 Combo

Live Webinar & DVD $394.00 plus $9.45 S&H

DVD (Slide Presentation with Audio) Only $97.00 with Registration/DVD Combo


Webinar

Strafford webinars offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

or call 1-800-926-7926

Can't Attend the Live Program?

CLE Credits By State

See CLE State Map >

or call 1-800-926-7926

Customer Reviews

The program was very helpful and gave me a good overview.

Lauren Piana

Odin, Feldman & Pittleman

The program covered topics that are of significant concern to many of my clients and I enjoyed the good discussion of the case law supporting the various points made.

Larry Crabtree

King & Ballow

I appreciated that the seminar’s comprehensive coverage was targeted to those not already expert in this area of law.

Patricia Chapman

Gleaves Swearingen

I appreciated the practical solutions to common problems.

Patricia Killian

McCarter & English

The seminar reinforced information and explained issues in a clear manner without being either too elementary or too technical.

Mary Bowden

SC&H Group

or call 1-800-926-7926

Employment & ERISA Advisory Board

Susan E. Bernstein

Special Counsel

Schulte Roth & Zabel

Judith (Jude) Biggs

Partner

Holland & Hart

Joshua Davis

Director

Goulston & Storrs

Barbara E. Hoey

Partner

Kelley Drye

Jeffrey Hollingsworth

Partner

Perkins Coie

Diana L. Hoover

Partner

Hoover Kernell

Paul J. Kennedy

Shareholder

Littler Mendelson

Marcia Nelson Jackson

Partner

Wick Phillips

William C. Martucci

Partner

Shook Hardy & Bacon

Nancy Morrison O'Connor

Partner

Bracewell & Giuliani

Laura Foote Reiff

Shareholder

Greenberg Traurig

Eugene Scalia

Partner

Gibson Dunn & Crutcher

Peter Steinmeyer

Member

Epstein Becker & Green

Teresa R. Tracy

Partner

Freeman Freeman Smiley

Todd D. Wozniak

Shareholder

Greenberg Traurig

or call 1-800-926-7926

Our Guarantee

Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.