Section 4063 of ERISA requires that a plan administrator notify PBGC if either of the following occurs:
- a substantial employer withdraws from a multiple employer plan (Section 4063); or
- an employer who is a contributing sponsor has a substantial cessation of operations at a facility (Sections 4062(e) and 4063(a))
The notice under Section 4063 is in addition to any Reportable Event notice that may be required under Section 4043.
For now no specific format is required, but the notice should identify the affected plan and employer, and include a statement that there has been a withdrawal by a substantial employer from a multiple employer plan or a cessation of operations under Section 4062(e), and a request that PBGC determine the resulting liability. PBGC is working on a form, which will be published in the Federal Register and subject to comment under the Paperwork Reduction Act.
The notice must be filed with the PBGC’s Corporate Finance & Restructuring Department (CFRD) within 60 days of the withdrawal or cessation. It may be mailed to CFRD at 1200 K Street, NW, Washington, DC 20005-4026, faxed to 202-842-2643, or emailed to email@example.com (for withdrawals) or firstname.lastname@example.org (for cessations).