The following terms are defined in
§ 4001.2 of this chapter: ERISA, IRS, multiemployer plan, PBGC, plan, and plan sponsor. In addition, the following terms are defined for purposes of this part:
Application for partition means a plan sponsor's application for partition under
section 4233 of ERISA and this part.
Application for a suspension of benefits means a plan sponsor's application for a suspension of benefits to the Secretary of the Treasury (Treasury) under
section 305(e)(9)(G) of ERISA.
Completed application means an application for partition for which PBGC has made a determination under
§ 4233.10 that the application contains all required information and satisfies the requirements described in
§§ 4233.4 through 4233.9.
Effective date of partition means the date upon which a partition is effective and which is set forth in a partition order.
Interested party means, with respect to a plan—
(1) Each participant in the plan;
(2) Each beneficiary of a deceased participant;
(4) Each employer that has an obligation to contribute under the plan; and
(5) Each employee organization that currently has a collective bargaining agreement pursuant to which the plan is maintained.
Original plan means an eligible multiemployer plan under 4233(b) of ERISA that is partitioned upon the issuance of a partition order under
section 4233(c) of ERISA.
Proposed partition means a proposed partition as structured and described by the plan sponsor in an application for partition.
Residual benefit means, with respect to a participant or beneficiary whose benefit was partially transferred to a successor plan pursuant to a partition order, the portion of the benefit payable under the original plan, the amount of which is equal to the difference between the benefit defined in
section 4233(e)(1)(A) of ERISA, and the successor plan benefit. The residual benefit as of the effective date of the partition is not subject to a separate guarantee under
section 4022A of ERISA.
Successor plan benefit means, with respect to a participant or beneficiary whose benefit was wholly or partially transferred from an original plan to a successor plan, the portion of the accrued nonforfeitable monthly benefit which would be guaranteed under
section 4022A as of the effective date of the partition, calculated under the terms of the original plan without reflecting any changes relating to a benefit suspension under
section 305(e)(9) of ERISA. The payment of a successor plan benefit is subject to the limitations and conditions contained in
sections 4022A(a)-(f) of ERISA.
29 C.F.R. § 4233.2 — Definitions. · eCFR editorial change effective 2017-01-01 · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-4233.2 · printed Oct 16, 2026