Guidance Document Database

Discusses the rules governing plan termination and notes that the employers may owe withdrawal liability.

Addresses whether incorporation of a sole proprietorship constitutes a withdrawal from a multiemployer pension plan where the successor corporation becomes party to the collective bargaining agreement and continues to contribute to the plan on behalf of its employees for the same operations for which contributions were previously contributed by the sole proprietor.

Licensed clinical laboratory bio-analyst is a professional individual for purposes of the Professional Service Employer plan exemption.

Termination is not subject to the spin-off/termination requirements of the implementation guidelines involving asset reversions since no assets will revert to the plan sponsor.

All affected parties may submit comments to PBGC on a proposed distress termination.

Embalmer and funeral director is not a professional individual for purposes of the Professional Service Employer plan exemption.

Welfare plans are not covered under Title IV.

Addresses the distribution of residual assets to an employer.

A restated plan document created an aggregate of single plans and not a single pension plan, with a valid allocation of assets among those separate plans.

Profit sharing plans are excluded from coverage under Title IV.

Addresses whether a multiemployer plan with only one remaining contributing employer continues to be a multiemployer plan.

A plan that in practice met the criteria for tax qualification for five years prior to its termination date was covered under Title IV at plan termination.

Addresses the bond / escrow requirements of section 4204 of ERISA which, if satisfied along with the other 4204 requirements, mean that a sale of assets by a contributing employer will not constitute a withdrawal from a multiemployer plan.

Plan meets the Governmental plan coverage exemption.

Addresses whether the construction industry exception to withdrawal applies where a contractor's CBA expires, its employees do not perform any more work for which the contractor was previously required to make contributions, but the contractor subcontracts for the performance of such work.

Government contractors are not excluded from PBGC coverage.

Addresses the meaning of the term "the unfunded vested benefits attributable to employees of the employer" for purposes of the cap on the unfunded vested benefits attributable to employees of an employer that sold substantially all of its assets to an unrelated buyer.

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

PBGC is not authorized to waive interest charges on late premium payments.

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.