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Pension Resource

29 C.F.R. § 4022.82

Method of recoupment.
CFR 1997 annual edition (revised as of 1997-07-01) · superseded Jul 1, 1998
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(a) Future benefit reductions. Unless a participant or beneficiary elects otherwise under paragraph (b) of this section, the PBGC shall recoup overpayments of benefits in accordance with this paragraph. The benefit reduction under this paragraph shall be an amount equal to the fraction determined under paragraphs (a)(1) and (a)(2) of this section, multiplied by each future benefit payment to which the participant or beneficiary is entitled.
(1) Computation. The PBGC shall determine the fractional multiplier by dividing the amount of the benefit overpayment by the present value of the benefit payable with respect to the participant under title IV of ERISA. The PBGC shall determine the present value of the benefit to which a participant or beneficiary is entitled under title IV of ERISA as of the termination date, using the PBGC interest rates and factors in effect on that date. The PBGC may, however, utilize a different date of determination if warranted by the facts and circumstances of a particular case.
(2) Limitation on benefit reduction. Except as provided in paragraph (a)(1) of this section, the PBGC shall reduce benefits with respect to a participant or beneficiary by no more than the greater of (i) ten percent per month or (ii) the amount of benefit per month in excess of the maximum guaranteeable benefit payable under section 4022(b)(3)(B) of ERISA, determined without adjustment for age and benefit form.
(3) PBGC notice to participant or beneficiary. Before effecting a benefit reduction pursuant to this paragraph, the PBGC shall notify the participant or beneficiary in writing of the amount of the benefit overpayment and of the amount of the reduced benefit computed under this section. The notice will advise the participant or beneficiary of the repayment option set forth in paragraph (b) of this section and inform him or her that the PBGC will proceed to recover the benefit overpayment in accordance with this paragraph unless an election to repay in a lump sum is made in accordance with paragraph (b).
(b) Lump sum repayment. A participant or beneficiary who has received a net benefit overpayment may elect to repay the excess in a single payment on or before a date agreed to by the participant or beneficiary and the PBGC. If the full payment is not made by the agreed upon date or a date is not agreed upon, the PBGC may proceed to recover the overpayment in accordance with paragraph (a) of this section.
29 C.F.R. § 4022.82 — Method of recoupment. · CFR 1997 annual edition (revised as of 1997-07-01) · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-4022.82&asof=1997-07-01 · printed Oct 16, 2026
On this page
  • (a) Future benefit reductions.
  • (b) Lump sum repayment.
Implements
ERISA § 4022 (29 U.S.C. § 1322) Single-employer plan benefits guaranteed
Cited by (code & regs)
Guidance addressing this section
PBGC
Proposed Rules
Also cited in 2 other documents
IRS / Treasury
Revenue Procedures
  • Rev. Proc. 2015-27 Apr 20, 2015 — This revenue procedure contains modifications to Revenue Procedure 2013–12, 2013–4 I.R.B. 313. The modifications reflected in this revenue procedure include mi…
PBGC
Final Rules
  • 76 FR 34590 Jun 14, 2011 — Bankruptcy Filing Date Treated as Plan Termination Date for Certain Purposes; Guaranteed Benefits; Allocation of Plan Assets; Pension Protection Act of 2006 (a)

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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, 1998Jun 30, 2011CFR 2010 annual edition (revised as of 2010-07-01) run 12763 FR 29354, May 29, 1998View · Redline (sign in)
Jul 1, 2011Jun 30, 2012CFR 2011 annual edition (revised as of 2011-07-01) run 12763 FR 29354, May 29, 1998View · Redline (sign in)
Jul 1, 2012currenteCFR editorial change effective 2017-01-01 run 276 FR 34604, June 14, 2011View · Redline (sign in)
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