Source: https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&mc=true&r=PART&n=pt29.9.4281
Timestamp: 2019-12-13 01:26:00
Document Index: 577903268

Matched Legal Cases: ['art 4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4001', '§4281', '§4281', '§4281', '§4000', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', '§4281', 'art 4000', '§4000']

Title 29 → Subtitle B → Chapter XL → Subchapter J → Part 4281
§4281.1 Purpose and scope.
§4281.2 Definitions.
§4281.3 Filing and issuance rules.
§4281.4 Collection of information.
§4281.41 Benefit suspensions.
§4281.43 Notice of insolvency.
§4281.44 Contents of notice of insolvency.
§4281.45 Notice of insolvency benefit level.
§4281.46 Contents of notice of insolvency benefit level.
§4281.47 Application for financial assistance.
The following terms are defined in §4001.2 of this chapter: annuity, employer, ERISA, fair market value, IRS, insurer, irrevocable commitment, mass withdrawal, multiemployer plan, nonforfeitable benefit, normal retirement age, PBGC, person, plan, plan administrator, and plan year. In addition, for purposes of this part:
Pro rata means that the required benefit reduction or payment must be allocated among affected participants in the same proportion that each such participant's nonforfeitable benefits under the plan bear to all nonforfeitable benefits of those participants under the plan.
(b) Method of issuance. The notices under this part must be issued to participants and beneficiaries by the methods provided in §4281.32(c) for notices of benefit reductions, §4281.43(c) for notices of insolvency, and §4281.45(d) for notices of insolvency benefit level.
(d) Where to file. Filings with PBGC under this part must be made as described in §4000.4 of this chapter.
[84 FR 18725, May 2, 2019]
(a) Requirement of notice. The plan sponsor of a plan that determines that the plan is insolvent in the current plan year or is expected to be insolvent in the next plan year must file with PBGC a notice of insolvency containing the information described in §4281.44(a) and issue to plan participants and beneficiaries a notice of insolvency containing the information described in §4281.44(b). Once notices of insolvency with respect to a plan have been provided as required, no notice of insolvency need be provided with respect to the plan for any subsequent year. A notice of insolvency may be combined with a notice of insolvency benefit level under §4281.45 for the same plan year.
[84 FR 18726, May 2, 2019]
(a) Notice to PBGC. A notice of insolvency required under §4281.43(a) to be filed with PBGC must contain the information and certification specified in the notice of insolvency instructions on PBGC's website (www.pbgc.gov).
(b) Notice to participants and beneficiaries. A notice of insolvency required under §4281.43(a) to be issued to plan participants and beneficiaries must contain all of the following information—
(a) Requirement of notice. The plan sponsor of an insolvent plan must file with PBGC a notice of insolvency benefit level containing the information described in §4281.46(a) and issue to plan payees (which, for purposes of this section, means participants and beneficiaries in pay status or reasonably expected to enter pay status during the insolvency year) a notice of insolvency benefit level containing the information described in §4281.46(b) in each of the following circumstances—
(b) Combined notices. The plan sponsor may combine a notice of insolvency benefit level under this section and a notice of insolvency under §4281.43 for the same plan year.
(a) Notice to PBGC. A notice of insolvency benefit level required by §4281.45(a) to be filed with PBGC must contain the information and certification specified in the notice of insolvency benefit level instructions on PBGC's website (www.pbgc.gov).
(b) Notice to participants and beneficiaries in or entering pay status. A notice of insolvency benefit level required by §4281.45(a) to be delivered to plan participants and beneficiaries in pay status or reasonably expected to enter pay status during the insolvency year must contain all of the following information—
(a) General. If the plan sponsor of a plan determines that the plan's resource benefit level for an insolvency year is below the level of benefits guaranteed by PBGC or that the plan will be unable to pay guaranteed benefits when due for any month during the year, the plan sponsor must apply to PBGC for financial assistance pursuant to section 4261 of ERISA. The application must be filed within the time specified under paragraph (b) of this section and must contain the information under paragraph (c) of this section.
(3) How and where to apply. Application to PBGC for financial assistance must be made in accordance with the rules in subpart A of part 4000 of this chapter. See §4000.4 of this chapter for information on where to apply.
[61 FR 34118, July 1, 1996, as amended at 84 FR 18727, May 2, 2019]