Pension Benefit Guaranty Corp, 301 7th St SW, Washington, DC 20229, US

The Pension Benefit Guaranty Corporation (PBGC) is a government agency based in Washington, DC. It is responsible for administering and protecting the pension benefits of workers and retirees in the United States. The PBGC conducts a voluntary quarterly survey of insurance company rates for pricing annuity contracts, which is aimed at determining interest rates for pension plans that terminate or undergo mass withdrawal. The survey is conducted in collaboration with the American Council of Life Insurance and provides the PBGC with blind data to ensure confidentiality. The PBGC's regulations prescribe actuarial valuation methods and assumptions, including interest rate assumptions, for determining the actuarial present value of benefits under single-employer and multiemployer pension plans. The agency gathers pricing data from insurance companies through the Survey of Nonparticipating Single Premium Group Annuity Rates, which is distributed quarterly to approximately 12 insurance companies. The PBGC estimates that 8 insurance companies will complete and return the survey, with an average annual burden of 32 hours and $48. The agency is seeking public comments to evaluate the necessity, accuracy, and quality of the collection of information, as well as to minimize the burden on respondents through the use of technology.Generated from the website