Section 4047 of ERISA gives the PBGC broad authority to take any necessary actions in furtherance of a plan restoration order issued pursuant to
section 4047. This part (along with Treasury regulation
26 CFR 1.412(c)(1)-3) describes certain legal obligations that arise incidental to a plan restoration under
section 4047. This part also establishes procedures with respect to these obligations that are intended to facilitate the orderly transition of a restored plan from terminated (or terminating) status to ongoing status, and to help ensure that the restored plan will continue to be ongoing consistent with the best interests of the plan's participants and beneficiaries and the single-employer insurance program. This part applies to terminated and terminating single-employer plans (except for plans terminated and terminating under
ERISA section 4041(b)) with respect to which the PBGC has issued or is issuing a plan restoration order pursuant to
ERISA section 4047.