Justification for Non-Material or Non-substantive Change to Currently Approved Collection
AGENCY: Pension Benefit Guaranty Corporation (PBGC)
TITLE: Qualified Domestic Relations Orders and PBGC
STATUS: OMB control number 1212-0054; expires 01/31/28
CONTACT: Karen Levin (202-229-3559)
The Pension Benefit Guaranty Corporation (PBGC) is making changes to the Qualified Domestic Relations Orders (QDRO) booklet as a non-material/non-substantive change request under OMB Control Number 1212-0054, which currently is scheduled to expire on January 31, 2028. In this submission, PBGC is requesting non-material/non-substantive changes to the booklet effective for plan year 2025.
PBGC is clarifying language in the QDRO booklet to replace instances of the word “their” with more descriptive language to describe how the language relates to either a “participant” or an “alternate payee” and to make additional conforming changes. The edits to the following pages are below shown in red:
Page
4 – The alternate payee may (1) start benefittheir
payments before the participant (subject to certain restrictions),
(2) receive pension benefits over the
alternate payee’s their
lifetime
Page
15 – Information about the participant’s benefit under a
plan trusteed by PBGC may be obtained by a prospective alternate
payee (or their
guardian of
a prospective alternate payee)
Page
20 – Typically, a participant’s age as of the
participant’s their…PBGC
tells each participant what the
participant’s their
EPRD
is in a benefit determination.
Page
21 - If the alternate payee dies before the end
of
the
period
certain,
payments
are
made
to the
alternate payee’s their
beneficiary
Page
21 - The
alternate
payee
selects
a
their
form
of
benefit
when
applying
to
PBGC
for
benefits
Page
25 –
For
the
PBGC Model Separate Interest
QDRO, where the participant retains
a separate interest in only part of the
participant’s their
benefit, the survivor benefit will be
based on only that portion of the benefit
Page
26 – Under “NOTE” - If a
participant is married as of the
participant’s their
annuity starting date
Page
34 – A participant will
automatically receive a theirbenefit
in the form of an annuity unless the participant
chooses
(with
spousal
consent,
if
married)
a
different
form
of
payment.
An
unmarried participant usually
will receive an annuity for the
participant’stheir
life.
Page 35 - then the participant and alternate payee will each receive 10% less of their shares of the $1,000 monthly plan benefit.
Page
38 - However, the participant is taxed on payments made under a QDRO
to the
participant’s theirchildren
as alternate payees.
Page
54 – Under definition of “Earliest PBGC Retirement Date
(EPRD),” Typically, a participant’s age as of the
participant’s their EPRD….
PBGC tells each participant what the
participant’s theirEPRD
is in a benefit determination.
Page
55 – Under definition of “Qualified Preretirement
Survivor Annuity (QPSA)”, A QPSA
is an annuity provided to a surviving
spouse
when
a
vested
participant
dies
before
receiving
payment
of the
participant’s theirbenefit.
PBGC’s changes will not result in any changes to the number of filings or to the hour and cost burden for the information collection.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Murphy Deborah |
| File Modified | 0000-00-00 |
| File Created | 2025-02-27 |