HCTC: Partners - The Pension Benefit Guaranty Corporation
The Pension Benefit Guaranty Corporation (PBGC) has two key roles within the HCTC process:
- Transmit eligibility records to the HCTC Program.
- Communicate information about the HCTC to individuals.
This page explains the process for transmitting eligibility records and provides materials available for payees.
- The PBGC sends the eligibility records for payees of PBGC-trusteed plans, or candidates who may be able to receive the HCTC, on a monthly basis. The first time a record is received, it alerts the HCTC Program to send an HCTC Eligibility Certificate to the individual.
- As long as records are received for these PBGC payees and they continue to meet the eligibility requirements, they remain eligible for the HCTC. To ensure that HCTC-eligible individuals continue to receive the monthly HCTC, the HCTC Program sends an End of Month Eligibility Review file to the PBGC at the end of each month.
The PBGC is responsible for reviewing the list of individuals for whom the HCTC Program has not received an eligibility record. If there are individuals on the list who are still eligible, the PBGC should notify the HCTC Program and transmit eligibility records for these individuals.
Please note: If a PBGC payee enrolls in Medicare, which typically happens at age 65, he or she is no longer eligible for the HCTC.
Communicate to Individuals
Please use the PBGC Information Guide when explaining the HCTC to employers and payees of PBGC-trusteed plans. The guide provides an overview of eligibility requirements, how the tax credit works, and how to register.
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