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Pension Resource

29 C.F.R. § 4022.51

Determination of section 4022(c) benefits in a PPA 2006 bankruptcy termination.
CFR 2011 annual edition (revised as of 2011-07-01) · superseded Jul 1, 2012 · last amended by 76 FR 34603, June 14, 2011
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(a) Amount of unfunded nonguaranteed benefits. For purposes of this section, and subject to paragraph (b) of this section, a plan's amount of unfunded nonguaranteed benefits means the plan's outstanding amount of benefit liabilities, as defined in section 4001(a)(19) of ERISA, determined as of the plan's termination date. A plan's amount of unfunded nonguaranteed benefits is multiplied by the applicable recovery ratio to determine the aggregate amount to be allocated with respect to participants of the plan under section 4022(c)(1) of ERISA.
(b) Benefits included in unfunded nonguaranteed benefits. For purposes of computing benefits under section 4022(c) of ERISA in a PPA 2006 bankruptcy termination, unfunded nonguaranteed benefits are benefits under a plan as of the plan's termination date that are neither guaranteed by PBGC (taking into account section 4022(g) of ERISA) nor funded by the plan's assets (taking into account section 4044(e) of ERISA).
(c) Determination of recovery ratio. In a PPA 2006 bankruptcy termination, the recovery ratio under section 4022(c)(3) of ERISA is determined as follows. The numerator is based on PBGC's recoveries under section 4062, 4063, or 4064, valued as of the plan's (or plans') termination date (or dates). The denominator of the recovery ratio is based on the amount of unfunded benefit liabilities, as defined in section 4001(a)(18) of ERISA, as of the plan's (or plans') termination date (or dates).

Effective Date Note:

At 76 FR 34603, June 14, 2011, § § 4022.51 was added, effective July 14, 2011.

Source credit, amendments & notes

[76 FR 34603, June 14, 2011]

29 C.F.R. § 4022.51 — Determination of section 4022(c) benefits in a PPA 2006 bankruptcy termination. · CFR 2011 annual edition (revised as of 2011-07-01) · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-4022.51&asof=2011-07-01 · printed Oct 16, 2026
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  • (a) Amount of unfunded nonguaranteed benefits.
  • (b) Benefits included in unfunded nonguaranteed benefits.
  • (c) Determination of recovery ratio.
Implements
ERISA § 4022 (29 U.S.C. § 1322) Single-employer plan benefits guaranteed
Guidance addressing this section

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Also cited in 1 other documents
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

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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, 2011Jun 30, 2012CFR 2011 annual edition (revised as of 2011-07-01) run 12776 FR 34603, June 14, 2011View
Jul 1, 2012currenteCFR amendment effective 2017-01-01 run 276 FR 34603, June 14, 2011View · Redline (sign in)
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