Guidance documents database

State liability with respect to private-sector plans to which employees contribute.

Addresses whether a withdrawal would take place if a corporation transfers all of its assets to one of its divisions and whether a withdrawal occurs in the event of a stock sale if contributions to the plan continue.

Addresses the distribution of residual assets to an employer.

Addresses mass withdrawal generally, the effect of a "substantially all" mass withdrawal on the de minimis reduction and 20-year cap, and the meanings of "substantially all" and "agreement or arrangement".

PBGC disapproves proposed plans that an employer wishes to adopt because they would effect an impermissible continuation of terminated plans for which guaranteed benefits are being paid.

Addresses whether, based on an employer's date of withdrawal, that employer is subject to reallocation liability in the event of a mass withdrawal termination.

Advises that defined contribution plans which defined benefit features may be subject to coverage.

Addresses a question as to what constitutes a facility for purposes of determining what CBUs get excluded due to a pre-1980 closure of a facility.

Plan does not meet the Governmental plan exemption from coverage.

For a plan that is being divided into 18 plans, participants should not be double counted for the purpose of premiums.

Each participant is entitled to a share of the excess plan assets where the plan does not provide for return of excess assets to employer upon plan termination.

Plan does not meet the Governmental plan exemption from coverage.

Plan of Canadian company with mostly Canadian participants is not covered under Title IV.

Benefits which became vested solely on account of termination are not guaranteed.

Asset purchaser assuming some pension plans not successor corporation to the seller with respect to plans left with the seller; purchaser is liable for plans it assumed; liability to PBGC is not limited by any agreement between seller and purchaser as to the amount of liability purchaser was willing to assume.

Whether interest and penalties assessed by PBGC for the late payment of premiums respecting a multiemployer plan can be paid from plan assets.

Addresses (1) the calculation of annual withdrawal liability payments where an employer contributes to a multiemployer plan under multiple collective bargaining agreements requiring different contribution rates (the "contract-by-contract" approach); (2) using the contract-by-contract approach to calculate an employer's required contribution rate following plan termination by amendment; (3) whether alternate interest rates may be used to calculate the value of benefits under the plan following a mass withdrawal; (4) the correction of prior errors in valuation when calculating withdrawal liability.

Addresses a request to use employer contributions, PBGC financial assistance, and other monies received by a plan to pay union dues for retirees and beneficiaries.

Food broker is not a professional individual for purposes of the Professional Service Employer plan exemption.

Plan is a Governmental plan; water authority created by statute; board appt by town's council, funded by water assessments, fund pays for plan including deficits upon termination, participants are water authority's employees

Addresses trustees’ ability to adopt alternative withdrawal liability rules under ERISA sections 4219 and 4224 that modify an employer's withdrawal liability payment terms to take into account an employer's financial condition.

Discusses four plans in one plan document with one trust. Sale of a unit and separation of the unit’s assets from the master trust is not a reportable event, nor a termination of one of the plans.

Discusses PBGC’s interpretation of the present value of the normal form of benefit provided by the plan payable at normal retirement age.

PBGC must be given a multiemployer plan’s notice of merger.

Allocation of assets of terminating plan otherwise than in accordance with section 4044 is not allowed. Transfer of asset to a defined contribution plan requires that all participants be offered option for immediate receipt of their benefits.