CFR 1997 annual edition (revised as of 1997-07-01) · in effect Jul 1, 1997 to Jul 1, 1998
This part sets forth the rules and procedures for terminating a single-employer pension plan in a standard termination or in a distress termination under ERISA. Subpart A contains various general rules that apply to both standard terminations and distress terminations. Subpart B sets forth the specific steps that a plan administrator must follow in order to terminate a plan in a standard termination. Subpart C sets forth the specific steps that a plan administrator must follow in order to terminate a plan in a distress termination. This part applies to the termination of any single-employer plan covered under
section 4021(a) of ERISA and not excluded by
section 4021(b). This part does not reflect the amendments to
section 4041(b)(2)(C)(i) (relating to the PBGC's authority not to nullify a termination if nullification would be inconsistent with the interests of participants and beneficiaries) or 4041(c)(2)(B)(i)(I) (relating to the liquidation criteria for a distress termination) that were contained in the Retirement Protection Act of 1994 (
Pub. L. 103-465,
section 778 (a) and (b)).