Source: http://www.chanrobles.com/usa/uslaws/cfr/title29/29-9.1.5.21.31.php
Timestamp: 2020-01-21 11:50:42
Document Index: 196453616

Matched Legal Cases: ['ART 4219', 'ART 4219', 'ART 4219', 'ART 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§ 4219', '§4001', 'art 4281', '§4219', '§4219']

CHAN ROBLES VIRTUAL LAW LIBRARY : 29 C.F.R. PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY
United States> Code of Federal Regulations> Title 29 - Labor> CHAPTER XL--PENSION BENEFIT GUARANTY CORPORATION> PART 4219--NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY> PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY
29 C.F.R. PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY
§ 4219.1 Purpose and scope.
§ 4219.11 Withdrawal liability upon mass withdrawal.
§ 4219.13 Amount of liability for de minimis amounts.
§ 4219.14 Amount of liability for 20-year-limitation amounts.
§ 4219.17 Filings with PBGC.
§ 4219.18 Withdrawal in a plan year in which substantially all employers withdraw.
§ 4219.20 Information collection.
§ 4219.31 Overdue and defaulted withdrawal liability; overpayment.
§ 4219.32 Interest on overdue, defaulted and overpaid withdrawal liability.
§ 4219.33 Plan rules concerning overdue and defaulted withdrawal liability.
Source: 61 FR 34102, July 1, 1996, unless otherwise noted.
(c) Subpart C. Subpart C establishes the interest rate to be charged on overdue, defaulted and overpaid withdrawal liability under section 4219(c)(6) of ERISA, and authorizes multiemployer plans to adopt alternative rules concerning assessment of interest and related matters. Subpart C applies to multiemployer plans covered under title IV of ERISA, and to employers that have withdrawn from such plans after April 28, 1980 (May 2, 1979, for certain employers in the seagoing industry).
(a) The following terms are defined in §4001.2 of this chapter: employer, ERISA, IRS, mass withdrawal, multiemployer plan, nonforfeitable benefit, PBGC, plan, and plan year.
Mass withdrawal valuation date means—
Reallocation liability means the amount of unfunded vested benefits allocated to an employer in the event of a mass withdrawal.
Unfunded vested benefits means the amount by which the present value of a plan's vested benefits exceeds the value of plan assets (including claims of the plan for unpaid initial withdrawal liability and redetermination liability), determined in accordance with section 4281 of ERISA and part 4281, subpart B.
(c) For purposes of subpart B—
(i) The numerator of which is the sum of the employer's initial withdrawal liability and the employer's redetermination liability, if any; and
(ii) The denominator of which is the sum of all initial withdrawal liabilities and all the redetermination liabilities of all employers liable for reallocation liability.
(3) Special rule for certain employers with no or reduced initial withdrawal liability. If an employer has no initial withdrawal liability because of the application of the free-look rule in section 4210 of ERISA, then, in computing the fraction prescribed in paragraph (c)(1), the plan sponsor shall use the employer's allocable share of unfunded vested benefits, determined under section 4211 of ERISA at the time of the employer's withdrawal and adjusted in accordance with section 4225 of ERISA, if applicable. If an employer's initial withdrawal liability was reduced pursuant to section 4209(a) or (b) of ERISA and the employer is not liable for de minimis amounts pursuant to §4219.13, then, in computing the fraction prescribed in paragraph (c)(1) of this section, the plan sponsor shall use the employer's allocable share of unfunded vested benefits, determined under section 4211 of ERISA at the time of the employer's withdrawal and adjusted in accordance with section 4225 of ERISA, if applicable.
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.