Guidance Document Database

When a defined benefit multiemployer plan merges into a defined contribution annuity plan, the multiemployer plan terminates; addresses the rules and procedures governing distribution of the assets of a terminated multiemployer plan.

Considers the timing of the bond/escrow requirement in a sale of assets and requests that PBGC grant a waiver of the bond/escrow and contract language requirements.

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

Addresses whether a seller and purchaser can retroactively bring a sale of assets within the coverage of the law by posting an appropriate bond and by amending the sales contract.

Addresses the definition of withdrawal for a construction industry employer.

A plan maintained exclusively for substantial owners is exempt from coverage under Title IV.

The purchase of participating group annuity contracts to satisfy all accrued benefits with a termination/reestablishment transaction of a plan is permissible.

Addresses whether certain types of labor disputes involving an employer’s employees would constitute a withdrawal from a multiemployer plan and specifically cites strikes and lockouts as examples.

Addresses what may constitute a complete or partial withdrawal from a multiemployer plan as a result of certain events occurring during contract negotiations; addresses the labor dispute exemption from withdrawal liability.

Addresses the definition of “building and construction industry” and explains that the term should be given the same meaning as it has under the Taft-Hartley Act.

Provides that because guaranteed benefits are determined at time of plan termination, a clause in a plan that provides for the cessation of benefits in pay status of participants who violate prohibitions against certain competitive employment will be determined at such time that the clause becomes applicable to a participant.

Conditions under which PBGC would allow a company to restore its pension plan after filing a notice to terminate.

A plan operating under a favorable IRS determination letter is covered under Title IV.

Discusses and compares a seller's withdrawal liability risks and obligations pre-MPPAA and post-MPPAA, and whether an employer's failure to object to an estimate of withdrawal liability (for informational purposes) bars that employer from challenging that underlying estimate upon a subsequent actual assessment of withdrawal liability.

The fact that a benefit formula may be modified by a plan amendment does not alter the defined benefit nature of the plan.  If the plan is amended to convert it to an individual account plan, it would be treated as terminated.

Addresses the ability of an employer challenging its withdrawal liability assessment, to raise additional issues for review by the multiemployer plan, or in arbitration, after making its initial submission.

Tax qualified defined benefit plans are generally covered under Title IV.

PBGC deducts an annuity purchase when calculating a participant’s maximum guaranteed benefit.

Addresses issues concerning the merger of a multiemployer defined benefit plan with a defined contribution plan.

Addresses whether officers or shareholders may be held liable for a corporation’s withdrawal liability.

PBGC guaranteed benefits are not impacted by funding difficulties, and an employer is liable to PBGFC to the extent guaranteed benefits exceed plan assets

PBGC approval is not needed to merge a single employer plan into a multiemployer plan, but such a transaction would be a reportable event.

PBGC, once it is appointed statutory trustee of a terminated plan, pays lump sums to participants entitled to small benefits.

Addresses the legal effect of PBGC approval of a multiemployer plan amendment.

A plan where participants are eligible for benefits as calculated from time to time by an actuary is a defined benefit plan providing basic benefits.