86 FR 1256 — Methods for Computing Withdrawal Liability, Multiemployer Pension Reform Act of 2014 PBGCFinal Rules (FR)Jan 8, 2021★ strong match
…t does not affect the value of adjustable benefit reductions and benefit suspensions in calculating withdrawal liability. In the final rule, PBGC is clarifying in new § 4211.12(d)(3) that in the case of a plan that primarily covers employees in the building and construction industry, the plan year designated by a plan …
84 FR 2075 — Methods for Computing Withdrawal Liability, Multiemployer Pension Reform Act of 2014 PBGCProposed Rules (FR)Proposed Feb 6, 2019★ strong match
… years ending after the designated plan year are reduced by the value of all outstanding claims for withdrawal liability that can reasonably be expected to be collected from employers that had withdrawn from the plan as of the end of the designated plan year.
(3) In the case of a plan that primarily covers employees in…
PBGCRegulationsJan 1, 2017related by meaning
(f) (f) Payment of initial withdrawal liability. An employer's payment of its total initial withdrawal liability, whether by prepayment or otherwise, for a withdrawal which is later determined to be part of a mass withdrawal shall not exclude the employer from or otherwise limit the employer's mass withdrawal liability…
PBGCCode / StatuteJan 4, 1995★ strong match
… of this title (relating to the building and construction industry) applies is liable for a partial withdrawal only if the employer's obligation to contribute under the plan is continued for no more than an insubstantial portion of its work in the craft and area jurisdiction of the collective bargaining agreement of th…
PBGCCode / StatuteJan 6, 2025★ strong match
…to contribute under a plan for work performed in the building and construction industry, a complete withdrawal occurs only as described in paragraph (2), if—
(b)(1)(A) (A) substantially all the employees with respect to whom the employer has an obligation to contribute under the plan perform work in the building and co…
PBGCPBGC Opinion LettersAug 18, 1995★ strong match
perform covered work within the juri sdiction of t he collective bargai ning
agree men t,
or
tra nsf ers such work t o anot her l ocati on. ERISA § § 4205( a)( 2) [ *2] and 4 205(b) (2) (A)( i) , 29 U.S. C §
§
138 5(a) (2), 1 385 (b)(2 )(A)( i).
Further , a
parti al wi thdrawal occurs i f th e employer per manentl y c…
PBGCRegulationsJan 1, 2017related by meaning
…escrow. The bond or escrow allowed by this section shall be in an amount equal to 70 percent of the withdrawal liability payments that would otherwise be due. The bond or escrow relating to each payment shall be furnished before the due date of that payment. A single bond or escrow may be provided for more than one pay…
PBGCRegulationsJan 1, 2017★ strong match
…n may, subject to the approval of the PBGC, establish by plan amendment special complete or partial withdrawal liability rules. A complete withdrawal liability rule adopted pursuant to this part shall be similar to the rules for the construction and entertainment industries described in section 4203 (b) and (c) of ERIS…
PBGCRegulationsJan 1, 2017★ strong match
… employer's liability under section 4206(a) (relating to the calculation of liability for a partial withdrawal) and section 4219(c)(1) (relating to the amount of the annual partial withdrawal liability payments) of ERISA, for a subsequent partial withdrawal described in section 4205(a)(2) of ERISA (relating to a partia…
PBGC Tech. Update 10-3 — Simplified Methods for Applying the Requirement to Disregard Benefit Reductions in Determining Withdrawal Liability - Multiemployer Pension Plans - Pension Pro… PBGCPBGC Technical Updates★ strong match
the Code will be included in the determination of withdrawal liability only if such benefit is also a nonforfeitable benefit.[4]
Withdrawal Liability Under section 4201 of ERISA, if an employer withdraws from a multiemployer plan, in a complete or partial withdrawal, the employer is liable to the plan for withdrawal l…
PBGCRegulationsJan 1, 2017related by meaning
…escrow. The bond or escrow allowed by this section shall be in an amount equal to 50 percent of the withdrawal liability payments that would otherwise be due. The bond or escrow relating to each payment shall be furnished before the due date of that payment. A single bond or escrow may be provided for more than one pay…
84 FR 18715 — Terminated and Insolvent Multiemployer Plans and Duties of Plan Sponsors PBGCFinal Rules (FR)May 2, 2019
sors file the withdrawal liability information electronically and within the time period provides for an efficient process for plan sponsors and PBGC. The two commenters expressed concerns about the scope of the withdrawal liability information required to be filed with PBGC, including whether a plan is required to pro…
PBGCCode / StatuteJan 6, 2025
(b) (b)
(b)(1) (1) In the case of an employer that has withdrawal liability for a partial withdrawal from a plan, any withdrawal liability of that employer for a partial or complete withdrawal from that plan in a subsequent plan year shall be reduced by the amount of any partial withdrawal liability (reduced by any aba…
PBGCPBGC Opinion LettersSep 30, 1994related by meaning
…oye r must b e includ ed in
reall ocated
unfunded vested ben efits when determining the withd rawal liability of withdrawing emp loyers
u
nder the
"pr esum ptive ru le" in se ction 4 211 (b) o f ER ISA .
Secti on
4211(b )(4)(
B) of ER ISA provides that "[e]xcept as otherwise provided in regul ations prescribed by the
c…
29 C.F.R. § 4206.8(b) — Reduction of credit for abatement or other reduction of prior partial withdrawal liability. PBGCRegulationsJan 1, 2017★ strong match
…ns of this part by a fraction—
(b)(1) (1) The numerator of which is the excess of the total partial withdrawal liability of the employer for all partial withdrawals in prior years (excluding those partial withdrawals for which the credit is zero) over the present value of each abatement or other reduction of that prior…
PBGCRegulationsJan 1, 2017
…ultiemployer plan satisfies the requirements in § 4208.4 for the reduction or waiver of its partial withdrawal liability, it may apply to the plan for abatement of its partial withdrawal liability. Applications shall identify the eligible employer, the withdrawn employer (if different), the date of withdrawal, and the …
PBGCRegulationsJan 1, 2017
(c) (c) Partial withdrawal—partial cessation of contribution obligation. The plan sponsor shall determine whether there is a partial withdrawal described in section 4205(a)(2) of ERISA (relating to a partial cessation of the employer's contribution obligation) in accordance with the rules in section 4205 of ERISA, as m…
PBGCPBGC Opinion LettersAug 2, 1994related by meaning
…ant to the agree men t or arra ngem ent. ER ISA § 42 09( c)(1 ); 29 C .F.R. § 264 8.9.
W hen
a mass withdrawal occurs by t he withdrawal of eve
ry employer fro
m a p lan, slightly differ ent rules app ly.
PBGCCode / StatuteJan 6, 2017★ strong match
(a) (a) If an employer withdraws from a multiemployer plan in a complete withdrawal or a partial withdrawal, then the employer is liable to the plan in the amount determined under this part to be the withdrawal liability.
PBGCRegulationsJul 1, 1997related by meaning
The obligation of an employer to make payments of initial withdrawal liability and mass withdrawal liability shall cease on the date on which the plan's assets are distributed in full satisfaction of all nonforfeitable benefits provided by the plan.