PBGC Announces 2022 Inflation Adjustments for Civil Penalties

The Pension Benefit Guaranty Corporation has published in the Federal Register inflation-adjusted penalty amounts for failure to provide certain notices or other material information and for failure to provide certain multiemployer notices.

• Per day penalty under Section 4071 rises from $2,259 to $2,400
• Per day penalty under Section 4302 rises from $301 to $320

These adjustments for 2022 are made under the authority of the Federal Civil Penalties Inflation Adjustment Act and are in effect for any of the described penalties that are assessed after January 14, 2022.