Guidance documents database

Defined contribution plans are not covered plans under Title IV.

Addresses whether the amount of a multiemployer plan’s unfunded vested benefits may be retroactively corrected when a computational error resulted in overassessment and overpayment of withdrawal liability.

PBGC could not determine that an employer engaged in services different than those specified in 4021(c) was a professional service employer.

PBGC not subject to state divorce court; PBGC’s authority is limited by the terms of title IV of ERISA and therefore the PBGC cannot submit to the state court's jurisdiction.

Addresses variances from the bond/escrow and contract-language prerequisites to the asset sale exception to withdrawal.

A participant who has completed the requisite number of years of service and has attained retirement age has a nonforfeitable vested benefit in the plan, even if he has not ended his employment as the time of plan termination.

Addresses the calculation of withdrawal liability in a situation where several members of a controlled group have an obligation to contribute to the same multiemployer pension plan and are sold or liquidated in a series of transactions.

Economist is a professional individual for purposes of the Professional Service Employer plan coverage exemption.

Addresses the circumstances under which a bankruptcy proceeding may give rise to withdrawal liability.

Plan of an employer located in Canada that is a division of a company incorporated in the US is a foreign plan and is not covered under Title IV.

A split-up of one plan and the termination of another is not subject to the asset reversion implementation guidelines; PBGC recognizes the termination and reestablishment of a plan.

Plan of transit system acquired by county is excluded from coverage.

Excess assets do not revert to the plan sponsor.

Discusses mechanics of converting defined benefit plan to an individual account plan.

Plan assets must be allocated in succession to the benefits described in each of the six priority categories established by statute.

This opinion letter addresses the meaning of the term "facility" for purposes of partial withdrawal.

Plan continues to be covered under Title IV because IRS has not determined the plan is disqualified.

Pharmacist is a professional individual for purposes of the Professional Service Employer plan exemption.

Addresses whether a partial withdrawal occurs when an employer outsources work to a third party.

Addresses whether a withdrawal from a multiemployer plan will be triggered by various circumstances occurring after a 4204 sale of assets such as a second subsequent sale or a change in corporate structure.

Initial determination that notice of intent to terminate not valid where not issued by plan administrator, where company argued it was de facto plan administrator but plan clearly identified board to be created as plan administrator.

States the conditions that must be met for the sale of assets exception to withdrawal liability to apply; buyer did not comply with the bond/escrow and sale contract requirements.

Plan is not an Individual account plan because it does not provide for individual accounts for each participant. Plan is covered under Title IV.

A letter of credit can satisfy the bond or escrow requirement of the trucking industry exemption from withdrawal liability.

Implementation guidelines do not generally apply to a transfer of assets from a single-employer plan to a multiemployer plan, followed by the termination of the single-employer plan, but because plan termination is a prerequisite to a reversion of plan assets to an employer, PBGC will not recognize a plan termination when it is intended as a means to recover surplus plan assets without satisfying termination requirements.