Source: https://www.ecfr.gov/cgi-bin/text-idx?mc=true&node=sp29.9.4219.b&rgn=div6
Timestamp: 2020-01-19 09:06:27
Document Index: 305150441

Matched Legal Cases: ['art 4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', '§4219', 'art 4041', '§4219', '§4000', '§4219', '§4219']

Title 29 → Subtitle B → Chapter XL → Subchapter I → Part 4219 → Subpart B
§4219.11 Withdrawal liability upon mass withdrawal.
§4219.12 Employers liable upon mass withdrawal.
§4219.13 Amount of liability for de minimis amounts.
§4219.14 Amount of liability for 20-year-limitation amounts.
§4219.15 Determination of reallocation liability.
§4219.16 Imposition of liability.
§4219.17 Filings with PBGC.
§4219.19 Method and date of issuance; computation of time.
§4219.20 Information collection.
(b) Mass withdrawal liability. The plan sponsor of a multiemployer plan that experiences a mass withdrawal shall also—
(1) Notify withdrawing employers, in accordance with §4219.16(a), that a mass withdrawal has occurred;
(2) Within 150 days after the mass withdrawal valuation date, determine the liability of withdrawn employers for de minimis amounts and for 20-year-limitation amounts in accordance with §§4219.13 and 4219.14;
(3) Within one year after the reallocation record date, determine the reallocation liability of withdrawn employers in accordance with §4219.15;
(4) Notify each withdrawing employer of the amount of mass withdrawal liability determined pursuant to this subpart and the schedule for payment of such liability, and demand payment of and collect that liability, in accordance with §4219.16; and
(5) Notify the PBGC of the occurrence of a mass withdrawal and certify, in accordance with §4219.17, that determinations of mass withdrawal liability have been completed.
(a) Liability for de minimis amounts. An employer shall be liable for de minimis amounts to the extent provided in section 4219(c)(1)(D) of ERISA if the employer's initial withdrawal liability was reduced pursuant to section 4209 (a) or (b) of ERISA.
(c) Liability for reallocation liability. An employer shall be liable for reallocation liability if the employer withdrew pursuant to an agreement or arrangement to withdraw from a multiemployer plan from which substantially all employers withdrew pursuant to an agreement or arrangement to withdraw, or if the employer withdrew after the beginning of the second full plan year preceding the termination date from a plan that terminated by the withdrawal of every employer, and, as of the reallocation record date—
An employer that is liable for de minimis amounts shall be liable to the plan for the amount by which the employer's allocable share of unfunded vested benefits for the purpose of determining its initial withdrawal liability was reduced pursuant to section 4209 (a) or (b) of ERISA. Any liability for de minimis amounts determined under this section shall be limited by section 4225 of ERISA to the extent that section would have been limiting had the employer's initial withdrawal liability been determined without regard to the de minimis reduction.
(b) Amount of unfunded vested benefits to be reallocated. For purposes of this section, the amount of a plan's unfunded vested benefits to be reallocated shall be the amount of the plan's unfunded vested benefits, determined as of the mass withdrawal valuation date, adjusted to exclude from plan assets the value of the plan's claims for unpaid initial withdrawal liability and unpaid redetermination liability that are deemed to be uncollectible under §4219.12(c)(1) or (c)(2).
(1) Initial allocable share. Except as otherwise provided in rules adopted by the plan pursuant to paragraph (d) of this section, and in accordance with paragraph (c)(3) of this section, an employer's initial allocable share shall be equal to the product of the plan's unfunded vested benefits to be reallocated, multiplied by a fraction—
[61 FR 34102, July 1, 1996, as amended at 73 FR 79636, Dec. 30, 2008]
(a) Notice of mass withdrawal. Within 30 days after the mass withdrawal valuation date, the plan sponsor shall give written notice of the occurrence of a mass withdrawal to each employer that the plan sponsor reasonably expects may be a liable employer under §4219.12. The notice shall include—
(3) A statement that each employer obligated to make initial withdrawal liability payments shall continue to make those payments in accordance with its schedule. Failure of the plan sponsor to notify an employer of a mass withdrawal as required by this paragraph shall not cancel the employer's mass withdrawal liability or waive the plan's claim for such liability.
(b) Notice of redetermination liability. Within 30 days after the date as of which the plan sponsor is required under §4219.11(b)(2) to have determined the redetermination liability of employers, the plan sponsor shall issue a notice of redetermination liability in writing to each employer liable under §4219.12 for de minimis amounts or 20-year-limitation amounts, or both. The notice shall include—
(1) The amount of the employer's liability, if any, for de minimis amounts determined pursuant to §4219.13;
(2) The amount of the employer's liability, if any, for 20-year-limitation amounts determined pursuant to §4219.14;
(c) Notice of reallocation liability. Within 30 days after the date as of which the plan sponsor is required under §4219.11(b)(3) to have determined the reallocation liability of employers, the plan sponsor shall issue a notice of reallocation liability in writing to each employer liable for reallocation liability. The notice shall include—
(1) The amount of the employer's reallocation liability determined pursuant to §4219.15;
(e) Combined notices. A plan sponsor may combine a notice of redetermination liability with the notice of and demand for payment of initial withdrawal liability. If a mass withdrawal and a withdrawal described in §4219.18 occur concurrently, a plan sponsor may combine—
(1) A notice of mass withdrawal with a notice of withdrawal issued pursuant to §4219.18(d); and
(2) A notice of redetermination liability with a notice of liability issued pursuant to §4219.18(e).
(i) Determination that a mass withdrawal has not occurred. If a plan sponsor determines, after imposing mass withdrawal liability pursuant to this subpart, that a mass withdrawal has not occurred, the plan sponsor shall refund to employers all payments of mass withdrawal liability with interest, except that a plan sponsor shall not refund payments of liability for de minimis amounts to an employer that remains liable for such amounts under §4219.18. Interest shall be credited at the interest rate prescribed in subpart C and shall accrue from the date the payment was received by the plan until the date of the refund.
(a) Filing requirements—(1) In general. The plan sponsor shall file with PBGC a notice that a mass withdrawal has occurred and separate certifications that determinations of redetermination liability and reallocation liability have been made and notices provided to employers in accordance with this subpart.
(c) When to file. A notice of mass withdrawal for a plan from which substantially all employers withdraw pursuant to an agreement or arrangement to withdraw shall be filed with the PBGC no later than 30 days after the mass withdrawal valuation date. A notice of mass withdrawal termination shall be filed within the time prescribed for the filing of that notice in part 4041A, subparts A and B, of this chapter. Certifications of liability determinations shall be filed with the PBGC no later than 30 days after the date on which the plan sponsor is required to have provided employers with notices pursuant to §4219.16.
(d) Where to file. See §4000.4 of this chapter for information on where to file.
(6) For reallocation liability certifications—
(ii) A copy of plan rules, if any, adopted pursuant to §4219.15(d).
[61 FR 34102, July 1, 1996, as amended at 68 FR 61355, Oct. 28, 2003]
[68 FR 61356, Oct. 28, 2003]
The information collection requirements contained in §§4219.16, 4219.17, and 4219.18 have been approved by the Office of Management and Budget under control number 1212-0034.
[61 FR 34102, July 1, 1996. Redesignated at 68 FR 61356, Oct. 28, 2003]