Opinion letters database

Missing participants in connection with termination of pension plan.

Withdrawn: Superseded by regulation. This letter is for a plan that terminated before 1994, which is when ERISA was amended to provide that PBGC establish a missing participants program. (02/12/2026)

Methods for making a distribution for missing participants.

Withdrawn: Superseded by regulation. This letter is for a plan that terminated before 1994, which is when ERISA was amended to provide that PBGC establish a missing participants program. (02/12/2026)

A plan that is at the full funding limitation is exempt from the variable rate premium

Withdrawn: No longer relevant. Law has changed on this issue. (02/12/2026)

Sole topic is payment of QPSAs in terminated multiemployer plans under outdated law.

Withdrawn: Superseded by statute. (03/16/2026)

Missing participants in connection with termination of pension plan.
Premiums are required in a plan year for employees who are participants in a plan, event though they are neither accruing benefits nor entitled to service credits for accrual purpose because their compensation is below the minimum compensation level in an excess plan.

Withdrawn: Superseded by regulation. This letter is for a plan that terminated before 1994, which is when ERISA was amended to provide that PBGC establish a missing participants program.  (02/12/2026)

Liability of floor offset plan to pay PBGC premium for participant. Based on old definition of participant but logic and result would be the same.

Withdrawn: Superseded by regulation. (03/16/2026)

Premiums are required in a plan year for employees who are participants in a plan, event though they are neither accruing benefits nor entitled to service credits for accrual purpose because their compensation is below the minimum compensation level in an excess plan.

Withdrawn: Superseded by regulation.  (02/12/2026)

PBGC opinion letters not binding on public or courts but entitled to deference.

Withdrawn: Rescind. Contrary to the Supreme Court’s Loper Bright decision. (02/12/2026)

PBGC determined that benefits were not payable to participants still working at the business.

Withdrawn: PBGC discontinued its working-retirement restrictions in 2021, when PBGC concluded that the best reading of Title IV and PBGC’s regulations was that PBGC should not restrict participants who remain employed by the former plan sponsor after DOPT from commencing the PBGC benefits to which they are entitled. (02/12/2026)

PBGC opined on what reportable events are triggered by a spinoff and referred to Opinion letter 85-5.

Withdrawn: Superseded by regulation. ERISA Section 4043.29 Change in controlled group – see definition. Refers to the old rules for 4062(e) and also mentions Opinion Letters 82-29 and 82-30, which have been rescinded. (02/12/2026)

Employees that are eligible for retirement but continue to work for a new employer after a company purchases it are not treated as retirees.

Withdrawn: PBGC discontinued its working-retirement restrictions in 2021, when PBGC concluded that the best reading of Title IV and PBGC’s regulations was that PBGC should not restrict participants who remain employed by the former plan sponsor after DOPT from commencing the PBGC benefits to which they are entitled. (06/01/2021)

This letter addresses a question as to whether PBGC guarantees extend to a plan established by a Guam corporation or proprietorship for employees who reside in Guam.

Withdrawn: PBGC does not consider a plan to be covered under Title IV of ERISA where its trust is created or organized outside the U.S. and no §1022(i)(2) election has been made. (04/19/2013)

The described spin-off is a reportable event and sales transaction principles apply to the spin-off and transfer transactions.

Withdrawn: Superseded by regulation. ERISA Section 4043.29 Change in controlled group – see definition. Refers to the old rules for 4062(e) and also mentions Opinion Letters 82-29 and 82-30, which have been rescinded (02/12/2026)

A terminating plan may create a special bank account to hold benefits of missing participants.

Withdrawn: Superseded by regulation. This letter is for a plan that terminated before 1994, which is when ERISA was amended to provide that PBGC establish a missing participants program.  (02/12/2026)

Payment of premiums for an individual.

Withdrawn: Superseded by regulation.  (02/12/2026)

PBGC generally won't seek from the seller and other members of a controlled group of corporations with the seller employer liability under § 4062 with respect to a termination of a pension plan by a successor employer after the sale of stock of a subsidiary corporation, if certain conditions are met.

Withdrawn: This letter is no longer informative given the significant changes made to the applicability of 4062(e) as outlined in H.R.83 (2014).  (02/12/2026)

Effect of §§ 4064, 4062,and 4062(e) on a transaction involving
an employer's sale of substantially all of its assets, and the concurrent transfer of its defined benefit pension plans, to an unrelated buyer.

Withdrawn: This letter is no longer informative given the significant changes made to the applicability of 4062(e) as outlined in H.R.83 (2014) (02/12/2026)

A plan administrator must notify PBGC of those reportable events for which the 30 day notice requirement is not waived.

Withdrawn: Superseded by regulation.  Referred to reporting when it was required on the 5500.  5500 no longer requires reporting of reportable events.    (02/12/2026)

The sale by a parent corporation with a division that maintains a pension plan with nonforfeitable benefits which are not funded of $1 million or more of an incorporated subsidiary, irrespective of its relative size, results in a reportable event.

Withdrawn: Superseded by regulation.  ERISA Section 4043.29 Change in controlled group – provides for waivers for de minimis members  (02/12/2026)

PBGC explained criteria for partitioning a multiemployer plan.

Withdrawn: Obsolete. No longer applicable since the passage of MPRA in 2014.  (02/12/2026)

Employees who during a plan year earn credited service but whose compensation falls below the level to qualify for benefits must be counted as participants for purposes of calculating premiums.

Withdrawn: Obsolete. This opinion letter refers to a one-time election.  (02/12/2026)

Premiums were required for participants that earn credited service in a plan year.

Withdrawn: Superseded by regulation and premium filing instructions.  (02/12/2026)

PBGC lacked sufficient information to answer the question.

Withdrawn: Insufficient information to answer specific question. General discussion superseded by regulation. (02/12/2026)

PBGC declined to waive termination liability.

Withdrawn: Not helpful guidance. The specific facts of this letter might not prove illustrative of likely outcomes.  As a result, this letter has been rescinded. (02/12/2026)

A participant in more than one plan maintained by a controlled group need be counted for premiums only by the plan or plans in which he is currently accruing benefits.

Withdrawn: Superseded by regulation. (02/12/2026)