Guidance Document Database

Discusses four plans in one plan document with one trust. Sale of a unit and separation of the unit’s assets from the master trust is not a reportable event, nor a termination of one of the plans.

Discusses PBGC’s interpretation of the present value of the normal form of benefit provided by the plan payable at normal retirement age.

PBGC must be given a multiemployer plan’s notice of merger.

Allocation of assets of terminating plan otherwise than in accordance with section 4044 is not allowed. Transfer of asset to a defined contribution plan requires that all participants be offered option for immediate receipt of their benefits.

PBGC did not guarantee benefits for a terminated plan, the termination of which was done in concert with the establishment of new retirement arrangements designed to provide substantially the same benefits.

Addresses whether an employer may contractually modify its statutory withdrawal liability obligation to a multiemployer plan by assuming "additional liability", and the limitations of such a modification.

Plan is an Individual account plan and is not a covered plan under Title IV.

Discusses benefit guaranty and its limits for a retiree receiving monthly benefits from an ongoing plan.

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

Addresses the transfer of surplus assets to another trust after plan termination.

Forester is not a professional individual for purposes of the Professional Service Employer plan exemption.

The only participant entitled to be credited with service or receive a benefit under the plan has continuously fallen within the definition of a "substantial owner.”

Whether the facts of a plan’s intended termination provide that PBGC should restore the plan to its pre-termination date status.

Discusses the definition of “employer” in the context of withdrawal liability and how it applies to a group of trades or businesses under common control; addresses the rules governing partial withdrawals.

A plan that established itself and had its first plan year end on the same day must pay partial premiums for that plan year.

Individual account plan is exempt from coverage.

Participant count is determined as of last day of previous plan year and may not be adjusted for changes that occur during the plan year.

Addresses whether a qualified preretirement survivor annuity is a nonforfeitable benefit where the participant had not died as of the date of plan termination. Under the Multiemployer Pension Reform Act of 2014, a qualified preretirement survivor annuity is not to be treated as forfeitable solely because the participant is alive on the date of multiemployer plan insolvency or termination.

Plan maintained pursuant to a contract with a federal agency is a Governmental plan exempt from Title IV coverage.

Employees cease accruing service credit as of date of plan termination.

A plan maintained by an actuary with the principal business the performance of actuarial services is a professional service employer plan.

Under presumptive method, if a plan is fully funded because the value of plan assets never falls below liabilities, the plan would record a zero change in the value of unfunded vested benefits despite fluctuations in unfunded vested benefits.

Addresses the relevance of events occurring after a plan’s reallocation record date on the reallocation liability calculation.

Plans that are tax-qualified under IRC 401(a) are covered by Title IV. Plans funded by flexible annuity policies may or may not be designed to achieve a defined benefit objective.

Addresses calculation of partial withdrawal credit using the "modified presumptive method" where contributions are averaged over a 10-year period.