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Pension Resource

29 C.F.R. § 4245.3

Notice of insolvency.
CFR 2005 annual edition (revised as of 2005-07-01) · superseded Jul 1, 2006 · last amended by 68 FR 61357, Oct. 28, 2003
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(a) Requirement of notice. A plan sponsor of a multiemployer plan in reorganization that determines under section 4245 (b)(1), (d)(1) or (d)(2) of ERISA that the plan's available resources are or may be insufficient to pay benefits when due for a plan year shall so notify the PBGC and the interested parties, as defined in paragraph (e) of this section. A single notice may cover more than one plan year. The notices shall be delivered in the manner and within the time prescribed in this section and shall contain the information described in § 4245.4.
(b) When delivered. A plan sponsor shall mail or otherwise deliver the notices of insolvency no later than 30 days after it determines that the plan is or may become insolvent, as described in paragraph (a) of this section. However, the notice to participants and beneficiaries in pay status may be delivered concurrently with the first benefit payment made more than 30 days after the determination of insolvency.
(c) Delivery to PBGC
(1) Method of filing. The PBGC applies the rules in subpart A of part 4000 of this chapter to determine permissible methods of filing the notice of insolvency with the PBGC under this part.
(2) Filing date. The PBGC applies the rules in subpart C of part 4000 of this chapter to determine the date that a notice of insolvency under this part was filed with the PBGC.
(d) Delivery to interested parties—(1) Method of issuance. The PBGC applies the rules in subpart B of part 4000 of this chapter to determine permissible methods of issuance of the notice of insolvency to interested parties. In addition to the methods permitted under subpart B of part 4000, the plan sponsor may notify interested parties, other than participants and beneficiaries who are in pay status when the notice is required to be delivered, by posting the notice at participants' work sites or publishing the notice in a union newsletter or in a newspaper of general circulation in the area or areas where participants reside. Notice to a participant shall be deemed notice to that participant's beneficiary or beneficiaries.
(2) Issuance date. The PBGC applies the rules in subpart C of part 4000 of this chapter to determine the date that the notice of insolvency was issued.
(e) Interested parties. For purposes of this part, the term “interested parties” means—
(1) Employers required to contribute to the plan;
(2) Employee organizations that, for collective bargaining purposes, represent plan participants employed by such employers; and
(3) Plan participants and beneficiaries.
Source credit, amendments & notes

[61 FR 34115, July 1, 1996, as amended at 68 FR 61357, Oct. 28, 2003]

29 C.F.R. § 4245.3 — Notice of insolvency. · CFR 2005 annual edition (revised as of 2005-07-01) · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-4245.3&asof=2004-07-01 · printed Oct 16, 2026
On this page
  • (a) Requirement of notice.
  • (b) When delivered.
  • (c) Delivery to PBGC
  • (d) (d) Delivery to interested parties—(1) Method of issuance. …
  • (e) Interested parties.
Implements
ERISA § 4245 (29 U.S.C. § 1426) Insolvent plans
Cited by (code & regs)
Guidance addressing this section
PBGC
Final Rules
  • 84 FR 18715 May 2, 2019 — Terminated and Insolvent Multiemployer Plans and Duties of Plan Sponsors
Proposed Rules
  • 83 FR 32815Proposed Jul 16, 2018 — Terminated and Insolvent Multiemployer Plans and Duties of Plan Sponsors Comments due Sep 14, 2018

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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, 2004CFR 2003 annual edition (revised as of 2003-07-01) run 127View
Jul 1, 2004Jun 30, 2006CFR 2005 annual edition (revised as of 2005-07-01) run 12768 FR 61357, Oct. 28, 2003View · Redline (sign in)
Jul 1, 2006Dec 31, 2016CFR 2016 annual edition (revised as of 2016-07-01) run 12768 FR 61357, Oct. 28, 2003View · Redline (sign in)
Jan 1, 2017May 1, 2019eCFR amendment effective 2017-01-01 run 2668 FR 61357, Oct. 28, 2003View · Redline (sign in)
May 2, 2019Jun 30, 2019eCFR amendment effective 2019-05-02 run 2668 FR 61357, Oct. 28, 2003View · Redline (sign in)
Jul 1, 2019currenteCFR amendment effective 2019-07-01 run 284 FR 18724, May 2, 2019View · Redline (sign in)
Provision-level history (blame)