Opinion letters database

A plan operating under a favorable IRS determination letter, regardless of whether it was later revoked, is covered by PBGC.

PBGC reconsidered its decision to disallow a waiver of benefits with respect to an allocation of assets under the plan.

“Licensed” or “registered” engineers are “public” engineers under ERISA 4021(c)(2)(B).

Not appropriate to charge against plan assets legal fees arising from plan termination.

Plan of municipal corporation designated by constitution as political subdivision of state and having taxing power is a governmental plan exempt under ERISA 4021(b)(2).

Plan covered by Railroad Retirement Act financed by contributions required under that act is not covered by Title IV.

Services provided by analytical chemist owners qualify employer as a professional services employer.

In addition to offering each participant the option of receiving guaranteed benefits in the form of an annuity, the plan also may offer each participant the optional forms of benefit distribution that are provided by the plan and each participant must be notified in writing that if he elects to receive his benefit other than as an annuity, the benefit will not be guaranteed by PBGC.

Application of Title IV to a sale of assets and whether PBGC would impose liability.

Taft-Hartley plans and coverage under Title IV; if a fixed contribution rate proves to have been inadequate to fund promised plan benefits, upon
plan termination plan participants no longer lose their pensions. PBGC ascertains the amount of a plan's
insufficiency and pays the benefits guaranteed by Title IV.

Employer providing consulting services in bio-mechanics, forensic physics, traffic reconstruction, injury analysis, and automotive and traffic safety is a professional services employer.

Disposition of individual life insurance policies held by terminating pension and profit-sharing plans.

Title IV doesn't prohibit the withdrawal of a notice of intent to terminate and PBGC will treat the request for withdrawal as a new notice of intent to terminate.

Effect of IRS determination that partial terminations had occurred in a plan that had previously received a notice of sufficiency from PBGC.

Determined that a plan with actuarially equivalent monthly benefit is guaranteed under Title IV.

Determined that plans are governmental plans, excluded from coverage.

Sole stockholder and only participant excluded from coverage under Title IV.

Liability of substantial employer for withdrawal when company stops contributing to pension plan after a sale; liability can be waived if an agreement is in place ensuring the plan remains fully covered.

Timing of plan's initial date for premium payments.

Disability benefits guaranteed when participants were disabled well before termination.

Increased vesting schedule subject to 5-year phase in beginning on effective date of amendment.

Employer contributions to a salary reduction plan not treated as mandatory contributions; discussion of cash payments constituting priority category five.

Proposed alternative to termination might be allowed by PBGC if requirements satisfied.

Criteria for arrangements for payment of employer liability under § 4062; deferred payments of employer liability.

Valid notice of intent to terminate a defined benefit pension plan, must be submitted by the "plan administrator" of the plan, as defined in § § 3(16) and 4001(a)(1) of the Act.