Brief Case
Pension Resource

29 C.F.R. § 4041.47

PBGC determination of plan sufficiency/insufficiency.
CFR 1997 annual edition (revised as of 1997-07-01) · superseded Jul 1, 1998
PrintCompare datesAsk AI about this sectionOfficial source ↗
Back to current
The earliest stored text of this section is effective Jul 1, 1997. Showing that version.
(a) General rule. Before distributing plan assets pursuant to a closeout under § 4041.48, the plan administrator shall verify whether the plan's assets are still sufficient to provide for benefits at the level determined by the PBGC, i.e., guaranteed benefits or benefit liabilities. If the plan administrator finds that the plan is no longer able to provide for benefits at the level determined by the PBGC, then paragraph (b) or (c) of this section, as appropriate, shall apply.
(b) Subsequent insufficiency for guaranteed benefits. When a plan administrator finds that a plan is no longer sufficient for guaranteed benefits, the plan administrator shall promptly notify the PBGC in writing of that fact and shall take no further action to implement the plan termination, pending the PBGC's determination and notice pursuant to paragraph (b)(1) or (b)(2) of this section.
(1) PBGC concurrence with finding. If the PBGC concurs with the plan administrator's finding, the distribution notice shall be void, and the PBGC shall—
(i) Issue the plan administrator a notice of inability to determine sufficiency in accordance with § 4041.45(b); and
(ii) Require the plan administrator to submit a new valuation, certified to by an enrolled actuary, of the benefit liabilities and guaranteed benefits under the plan, valued in accordance with §§ 4044.41 through 4044.57 of this chapter as of the date of the plan administrator's notice to the PBGC.
(2) PBGC non-concurrence with finding. If the PBGC does not concur with the plan administrator's finding, it shall so notify the plan administrator in writing, and the distribution notice shall remain in effect.
(c) Subsequent insufficiency for benefit liabilities. When a plan administrator finds that a plan is sufficient for guaranteed benefits but is no longer sufficient for benefit liabilities, the plan administrator shall immediately notify the PBGC in writing of this fact, but shall continue with the distribution of assets in accordance with § 4041.48.
(d) Finding by PBGC of subsequent insufficiency. In any case in which the PBGC finds on its own initiative that a subsequent insufficiency for guaranteed benefits has occurred, paragraph (b)(1) of this section shall apply, except that the guaranteed benefits shall be revalued as of the date of the PBGC's finding.
(e) Restrictions upon finding of subsequent insufficiency. When the plan administrator makes the finding described in paragraph (b) of this section or receives notice that the PBGC has made the finding described in paragraph (d) of this section, the plan administrator shall (except to the extent the PBGC otherwise directs) be subject to the prohibitions in § 4041.4(c).
29 C.F.R. § 4041.47 — PBGC determination of plan sufficiency/insufficiency. · CFR 1997 annual edition (revised as of 1997-07-01) · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-4041.47&asof=1995-01-04 · printed Oct 16, 2026
On this page
  • (a) General rule.
  • (b) Subsequent insufficiency for guaranteed benefits.
  • (c) Subsequent insufficiency for benefit liabilities.
  • (d) Finding by PBGC of subsequent insufficiency.
  • (e) Restrictions upon finding of subsequent insufficiency.
Implements
ERISA § 4041 (29 U.S.C. § 1341) Termination of single-employer plans
Cited by (code & regs)
Guidance addressing this section

No documents are primarily about this section.

Also cited in 2 other documents
PBGC
Final Rules
  • 90 FR 39320 Aug 15, 2025 — Miscellaneous Corrections, Clarifications, and Improvements (d)
Proposed Rules
  • 90 FR 6894Proposed Jan 21, 2025 — Miscellaneous Corrections, Clarifications, and Improvements Comments due Mar 24, 2025 (d)

No court rulings in the library cite this provision yet.

No private letter rulings in the library cite this provision yet.

Each row is a version of the text as published by the official source. Code dates are the edition/release point that first reflected the change; regulation dates are eCFR effective dates. The library checks the official sources automatically, so new versions appear here on their own; “run” opens the sync that recorded a version.

EffectiveThroughSourceAmended by
Jul 1, 1997Jun 30, 1998CFR 1997 annual edition (revised as of 1997-07-01) run 127View
Jul 1, 1998Aug 14, 2025eCFR editorial change effective 2017-01-01 run 26View · Redline (sign in)
Aug 15, 2025Sep 14, 2025eCFR amendment effective 2025-08-15 run 26View · Redline (sign in)
Sep 15, 2025currenteCFR amendment effective 2025-09-15 run 290 FR 39328, Aug. 15, 2025View · Redline (sign in)
Provision-level history (blame)