Source: http://www.law.cornell.edu/cfr/text/29/4044.1
Timestamp: 2014-12-27 20:46:57
Document Index: 234306325

Matched Legal Cases: ['art 4044', '§ 4044', '§ 4044', 'art 4041', '§ 4044', '§ 4044', '§ 4044', '§ 4044']

29 CFR 4044.1 - Purpose and scope. | LII / Legal Information Institute
CFR › Title 29 › Subtitle B › Chapter XL › Subchapter E › Part 4044 › Subpart A › Section 4044.1 29 CFR 4044.1 - Purpose and scope.
§ 4044.1
Sections 4044.1 through 4044.4 set forth general rules for applying §§ 4044.10 through 4044.17. Sections 4044.10 through 4044.17 interpret the rules and describe procedures for allocating plan assets to priority categories 1 through 6.
The purpose of subpart B is to establish the method of determining the value of benefits and assets under terminating single-employer pension plans covered by title IV of ERISA. This valuation is needed for both plans trusteed under title IV and plans which are not trusteed. For the former, the valuation is needed to allocate plan assets in accordance with subpart A of this part and to determine the amount of any plan asset insufficiency. For the latter, the valuation is needed to allocate assets in accordance with subpart A and to distribute the assets in accordance with subpart B of part 4041 of this chapter.
Section 4044.41 sets forth the general provisions of subpart B and applies to all terminating single-employer plans. Sections 4044.51 through 4044.57 prescribe the benefit valuation rules for plans that are placed into trusteeship by PBGC, including (in §§ 4044.55 through 4044.57) the rules and procedures a plan administrator shall follow to determine the expected retirement age (XRA) for a plan participant entitled to early retirement benefits for whom the annuity starting date is not known as of the valuation date. This applies to all trusteed plans which have such early retirement benefits. The plan administrator shall determine an XRA under § 4044.55, § 4044.56 or § 4044.57, as appropriate, for each active participant or participant with a deferred vested benefit who is entitled to an early retirement benefit and who as of the valuation date has not selected an annuity starting date.
Sections 4044.71 through 4044.75 prescribe the benefit valuation rules for calculating the value of a benefit to be paid a participant or beneficiary under a terminating pension plan that is distributing assets where the plan has not been placed into trusteeship by PBGC.
[61 FR 34059, July 1, 1996, as amended at 76 FR 34605, June 14, 2011]