PBGC Announces Delinquent Premium Payment Penalty Relief Window

On February 9, 2012, the Pension Benefit Guaranty Corporation (“PBGC”) announced a limited voluntary compliance window for covered defined benefit plans that have never paid required premiums.  The relief allows affected plans to pay past-due premiums without any premium payment penalties or information penalties for failure to timely file premium information.  To qualify for the relief, the plan administrator must: (i) contact the PBGC by July 31, 2012; and (ii) pay all past-due premiums (plus interest) and file required information by August 31, 2012.