cfr_sections
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15 rows where part_number = 4219 sorted by section_id
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
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| 29:29:9.1.4.21.31.1.25.1 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | A | Subpart A—General | § 4219.1 Purpose and scope. | PBGC | [61 FR 34102, July 1, 1996, as amended at 73 FR 79636, Dec. 30, 2008; 86 FR 1277, Jan. 8, 2021] | (a) Subpart A. Subpart A of this part describes the purpose and scope of the provisions in this part and defined terms used in this part. Section 4219(c) of ERISA requires a withdrawn employer to make annual withdrawal liability payments at a set rate over the number of years necessary to amortize its withdrawal liability, generally limited to a period of 20 years. This subpart provides rules for disregarding certain contribution increases in determining the highest contribution rate under section 4219(c) of ERISA. (b) Subpart B —(1) Purpose. When a multiemployer plan terminates by the withdrawal of every employer from the plan, or when substantially all employers withdraw from a multiemployer plan pursuant to an agreement or arrangement to withdraw from the plan, section 4219(c)(1)(D)(i) of ERISA requires that the liability of such withdrawing employers be determined (or redetermined) without regard to the 20-year limitation on annual payments established in section 4219(c)(1)(B) of ERISA. In addition, section 4219(c)(1)(D)(ii) requires that, upon the occurrence of a withdrawal described above, the total unfunded vested benefits of the plan be fully allocated among such withdrawing employers in a manner that is not inconsistent with PBGC regulations. Section 4209(c) of ERISA provides that the de minimis reduction established in sections 4209 (a) and (b) of ERISA does not apply to an employer that withdraws in a plan year in which substantially all employers withdraw from the plan, or to an employer that withdraws pursuant to an agreement to withdraw during a period of one or more plan years during which substantially all employers withdraw pursuant to an agreement or arrangement to withdraw. The purpose of subpart B of this part is to prescribe rules, pursuant to sections 4219(c)(1)(D) and 4209(c) of ERISA, for redetermining an employer's withdrawal liability and fully allocating the unfunded vested benefits of a multiemployer plan in either of two mass-withdrawal situations: the termination of a plan by… | |||
| 29:29:9.1.4.21.31.1.25.2 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | A | Subpart A—General | § 4219.2 Definitions. | PBGC | [61 FR 34102, July 1, 1996, as amended at 73 FR 79636, Dec. 30, 2008; 86 FR 1277, Jan. 8, 2021] | (a) The following terms are defined in § 4001.2 of this chapter: employer, ERISA, IRS, mass withdrawal, multiemployer plan, nonforfeitable benefit, PBGC, plan, and plan year. (b) For purposes of this part: Initial withdrawal liability means the amount of withdrawal liability determined in accordance with sections 4201 through 4225 of title IV without regard to the occurrence of a mass withdrawal. Mass withdrawal liability means the sum of an employer's liability for de minimis amounts, liability for 20-year-limitation amounts, and reallocation liability. Mass withdrawal valuation date means— (1) In the case of a termination by mass withdrawal, the last day of the plan year in which the plan terminates; or (2) in the case of a withdrawal of substantially all employers pursuant to an agreement or arrangement to withdraw, the last day of the plan year as of which substantially all employers have withdrawn. Reallocation liability means the amount of unfunded vested benefits allocated to an employer in the event of a mass withdrawal. Reallocation record date means a date selected by the plan sponsor, which is not earlier than the date of the plan's actuarial report for the year of the mass withdrawal and not later than one year after the mass withdrawal valuation date. Redetermination liability means the sum of an employer's liability for de minimis amounts and the employer's liability for 20-year-limitation amounts. Unfunded vested benefits means the amount by which the present value of a plan's nonforfeitable benefits exceeds the value of plan assets (including claims of the plan for unpaid initial withdrawal liability and redetermination liability), determined in accordance with section 4281 of ERISA and part 4281, subpart B. (c) For purposes of subpart B— Withdrawal means a complete withdrawal as defined in section 4203 of ERISA. | |||
| 29:29:9.1.4.21.31.1.25.3 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | A | Subpart A—General | § 4219.3 Disregarding certain contributions. | PBGC | [86 FR 1277, Jan. 8, 2021] | (a) General rule. For purposes of determining the highest contribution rate under section 4219(c) of ERISA, a plan must disregard: (1) Surcharge. Any surcharge under section 305(e)(7) of ERISA and section 432(e)(7) of the Code the obligation for which accrues on or after December 31, 2014. (2) Contribution increase. Any increase in the contribution rate or other increase in contribution requirements that goes into effect during a plan year beginning after December 31, 2014, so that a plan may meet the requirements of a funding improvement plan under section 305(c) of ERISA and section 432(c) of the Code or a rehabilitation plan under section 305(e) of ERISA and section 432(e) of the Code, except to the extent that one of the following exceptions applies pursuant to section 305(g)(3) of ERISA and section 432(g)(3) of the Code: (i) The increases in contribution requirements are due to increased levels of work, employment, or periods for which compensation is provided. (ii) The additional contributions are used to provide an increase in benefits, including an increase in future benefit accruals, permitted by section 305(d)(1)(B) or (f)(1)(B) of ERISA and section 432(d)(1)(B) or (f)(1)(B) of the Code. (b) Simplified method for a plan that is no longer in endangered or critical status. A plan sponsor may amend a plan without PBGC approval to use the simplified method in this paragraph (b) for purposes of determining the highest contribution rate for a plan that is no longer in endangered or critical status. The highest contribution rate is the greater of— (1) The employer's contribution rate as of the date that is the later of the last day of the first plan year that ends on or after December 31, 2014 and the last day of the plan year the employer first contributes to the plan (the “employer freeze date”) plus any contribution increases after the employer freeze date, and before the employer's withdrawal date that are determined in accordance with the rules under § 4219.3(a)(2)(ii); or (2) The highest c… | |||
| 29:29:9.1.4.21.31.2.25.1 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.11 Withdrawal liability upon mass withdrawal. | PBGC | (a) Initial withdrawal liability. The plan sponsor of a multiemployer plan that experiences a mass withdrawal shall determine initial withdrawal liability pursuant to section 4201 of ERISA of every employer that has completely or partially withdrawn from the plan and for whom the liability has not previously been determined and, in accordance with section 4202 of ERISA, notify each employer of the amount of the initial withdrawal liability and collect the amount of the initial withdrawal liability from each employer. (b) Mass withdrawal liability. The plan sponsor of a multiemployer plan that experiences a mass withdrawal shall also— (1) Notify withdrawing employers, in accordance with § 4219.16(a), that a mass withdrawal has occurred; (2) Within 150 days after the mass withdrawal valuation date, determine the liability of withdrawn employers for de minimis amounts and for 20-year-limitation amounts in accordance with §§ 4219.13 and 4219.14; (3) Within one year after the reallocation record date, determine the reallocation liability of withdrawn employers in accordance with § 4219.15; (4) Notify each withdrawing employer of the amount of mass withdrawal liability determined pursuant to this subpart and the schedule for payment of such liability, and demand payment of and collect that liability, in accordance with § 4219.16; and (5) Notify the PBGC of the occurrence of a mass withdrawal and certify, in accordance with § 4219.17, that determinations of mass withdrawal liability have been completed. (c) Extensions of time. The plan sponsor of a multiemployer plan that experiences a mass withdrawal may apply to the PBGC for an extension of the deadlines contained in paragraph (b) of this section. The PBGC shall approve such a request only if it finds that failure to grant the extension will create an unreasonable risk of loss to plan participants or the PBGC. | ||||
| 29:29:9.1.4.21.31.2.25.2 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.12 Employers liable upon mass withdrawal. | PBGC | (a) Liability for de minimis amounts. An employer shall be liable for de minimis amounts to the extent provided in section 4219(c)(1)(D) of ERISA if the employer's initial withdrawal liability was reduced pursuant to section 4209 (a) or (b) of ERISA. (b) Liability for 20-year-limitation amounts. An employer shall be liable for 20-year-limitation amounts to the extent provided in section 4219(c)(1)(D) of ERISA. (c) Liability for reallocation liability. An employer shall be liable for reallocation liability if the employer withdrew pursuant to an agreement or arrangement to withdraw from a multiemployer plan from which substantially all employers withdrew pursuant to an agreement or arrangement to withdraw, or if the employer withdrew after the beginning of the second full plan year preceding the termination date from a plan that terminated by the withdrawal of every employer, and, as of the reallocation record date— (1) The employer has not been completely liquidated or dissolved; (2) The employer is not the subject of a case or proceeding under title 11, United States Code, or any case or proceeding under similar provisions of state insolvency laws, except that a plan sponsor may determine that such an employer is liable for reallocation liability if the plan sponsor determines that the employer is reasonably expected to be able to pay its initial withdrawal liability and its redetermination liability in full and on time to the plan; and (3) The plan sponsor has not determined that the employer's initial withdrawal liability or its redetermination liability is limited by section 4225 of ERISA. (d) General exclusion. In the event that a plan experiences successive mass withdrawals, an employer that has been determined to be liable under this subpart for any component of mass withdrawal liability shall not be liable as a result of the same withdrawal for that component of mass withdrawal liability with respect to a subsequent mass withdrawal. (e) Free-look rule. An employer that is not liable for… | ||||
| 29:29:9.1.4.21.31.2.25.3 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.13 Amount of liability for | PBGC | An employer that is liable for de minimis amounts shall be liable to the plan for the amount by which the employer's allocable share of unfunded vested benefits for the purpose of determining its initial withdrawal liability was reduced pursuant to section 4209 (a) or (b) of ERISA. Any liability for de minimis amounts determined under this section shall be limited by section 4225 of ERISA to the extent that section would have been limiting had the employer's initial withdrawal liability been determined without regard to the de minimis reduction. | ||||
| 29:29:9.1.4.21.31.2.25.4 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.14 Amount of liability for 20-year-limitation amounts. | PBGC | An employer that is liable for 20-year-limitation amounts shall be liable to the plan for an amount equal to the present value of all initial withdrawal liability payments for which the employer was not liable pursuant to section 4219(c)(1)(B) of ERISA. The present value of such payments shall be determined as of the end of the plan year preceding the plan year in which the employer withdrew, using the assumptions that were used to determine the employer's payment schedule for initial withdrawal liability pursuant to section 4219(c)(1)(A)(ii) of ERISA. Any liability for 20-year-limitation amounts determined under this section shall be limited by section 4225 of ERISA to the extent that section would have been limiting had the employer's initial withdrawal liability been determined without regard to the 20-year limitation. | ||||
| 29:29:9.1.4.21.31.2.25.5 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.15 Determination of reallocation liability. | PBGC | [61 FR 34102, July 1, 1996, as amended at 73 FR 79636, Dec. 30, 2008] | (a) General rule. In accordance with the rules in this section, the plan sponsor shall determine the amount of unfunded vested benefits to be reallocated and shall fully allocate those unfunded vested benefits among all employers liable for reallocation liability. (b) Amount of unfunded vested benefits to be reallocated. For purposes of this section, the amount of a plan's unfunded vested benefits to be reallocated shall be the amount of the plan's unfunded vested benefits, determined as of the mass withdrawal valuation date, adjusted to exclude from plan assets the value of the plan's claims for unpaid initial withdrawal liability and unpaid redetermination liability that are deemed to be uncollectible under § 4219.12(c)(1) or (c)(2). (c) Amount of reallocation liability. An employer's reallocation liability shall be equal to the sum of the employer's initial allocable share of the plan's unfunded vested benefits, as determined under paragraph (c)(1) of this section, plus any unassessable amounts allocated to the employer under paragraph (c)(2), limited by section 4225 of ERISA to the extent that section would have been limiting had the employer's reallocation liability been included in the employer's initial withdrawal liability. If a plan is determined to have no unfunded vested benefits to be reallocated, the reallocation liability of each liable employer shall be zero. (1) Initial allocable share. Except as otherwise provided in rules adopted by the plan pursuant to paragraph (d) of this section, and in accordance with paragraph (c)(3) of this section, an employer's initial allocable share shall be equal to the product of the plan's unfunded vested benefits to be reallocated, multiplied by a fraction— (i) The numerator of which is the yearly average of the employer's contribution base units during the three plan years preceding the employer's withdrawal; and (ii) The denominator of which is the sum of the yearly averages calculated under paragraph (c)(1)(i) of this section for each employer liab… | |||
| 29:29:9.1.4.21.31.2.25.6 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.16 Imposition of liability. | PBGC | (a) Notice of mass withdrawal. Within 30 days after the mass withdrawal valuation date, the plan sponsor shall give written notice of the occurrence of a mass withdrawal to each employer that the plan sponsor reasonably expects may be a liable employer under § 4219.12. The notice shall include— (1) The mass withdrawal valuation date; (2) A description of the consequences of a mass withdrawal under this subpart; and (3) A statement that each employer obligated to make initial withdrawal liability payments shall continue to make those payments in accordance with its schedule. Failure of the plan sponsor to notify an employer of a mass withdrawal as required by this paragraph shall not cancel the employer's mass withdrawal liability or waive the plan's claim for such liability. (b) Notice of redetermination liability. Within 30 days after the date as of which the plan sponsor is required under § 4219.11(b)(2) to have determined the redetermination liability of employers, the plan sponsor shall issue a notice of redetermination liability in writing to each employer liable under § 4219.12 for de minimis amounts or 20-year-limitation amounts, or both. The notice shall include— (1) The amount of the employer's liability, if any, for de minimis amounts determined pursuant to § 4219.13; (2) The amount of the employer's liability, if any, for 20-year-limitation amounts determined pursuant to § 4219.14; (3) The schedule for payment of the liability determined under paragraph (f) of this section; (4) A demand for payment of the liability in accordance with the schedule; and (5) A statement of when the plan sponsor expects to issue notices of reallocation liability to liable employers. (c) Notice of reallocation liability. Within 30 days after the date as of which the plan sponsor is required under § 4219.11(b)(3) to have determined the reallocation liability of employers, the plan sponsor shall issue a notice of reallocation liability in writing to each employer liable for reallocation liability. The noti… | ||||
| 29:29:9.1.4.21.31.2.25.7 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.17 Filings with PBGC. | PBGC | [61 FR 34102, July 1, 1996, as amended at 68 FR 61355, Oct. 28, 2003] | (a) Filing requirements —(1) In general. The plan sponsor shall file with PBGC a notice that a mass withdrawal has occurred and separate certifications that determinations of redetermination liability and reallocation liability have been made and notices provided to employers in accordance with this subpart. (2) Method of filing. The PBGC applies the rules in subpart A of part 4000 of this chapter to determine permissible methods of filing with the PBGC under this subpart. (3) Computation of time. The PBGC applies the rules in subpart D of part 4000 of this chapter to compute any time period under this subpart for filing with the PBGC. (b) Who shall file. The plan sponsor or a duly authorized representative acting on behalf of the plan sponsor shall sign and file the notice and the certifications. (c) When to file. A notice of mass withdrawal for a plan from which substantially all employers withdraw pursuant to an agreement or arrangement to withdraw shall be filed with the PBGC no later than 30 days after the mass withdrawal valuation date. A notice of mass withdrawal termination shall be filed within the time prescribed for the filing of that notice in part 4041A, subparts A and B, of this chapter. Certifications of liability determinations shall be filed with the PBGC no later than 30 days after the date on which the plan sponsor is required to have provided employers with notices pursuant to § 4219.16. (d) Where to file. See § 4000.4 of this chapter for information on where to file. (e) Date of filing. The PBGC applies the rules in subpart C of part 4000 of this chapter to determine the date that a submission under this subpart was filed with the PBGC. (f) Contents of notice of mass withdrawal. If a plan terminates by the withdrawal of every employer, a notice of termination filed in accordance with part 4041A, subparts A and B, of this chapter shall satisfy the requirements for a notice of mass withdrawal under this subpart. If substantially all employers withdraw from a plan pursuan… | |||
| 29:29:9.1.4.21.31.2.25.8 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.18 Withdrawal in a plan year in which substantially all employers withdraw. | PBGC | (a) General rule. An employer that withdraws in a plan year in which substantially all employers withdraw from the plan shall be liable to the plan for de minimis amounts if the employer's initial withdrawal liability was reduced pursuant to section 4209(a) or (b) of ERISA. (b) Amount of liability. An employer's liability for de minimis amounts under this section shall be determined pursuant to § 4219.13. (c) Plan sponsor's obligations. The plan sponsor of a plan that experiences a withdrawal described in paragraph (a) shall— (1) Determine and collect initial withdrawal liability of every employer that has completely or partially withdrawn, in accordance with sections 4201 and 4202 of ERISA; (2) Notify each employer that is or may be liable under this section, in accordance with paragraph (d) of this section; (3) Within 90 days after the end of the plan year in which the withdrawal occurred, determine, in accordance with paragraph (b) of this section, the liability of each withdrawing employer that is liable under this section; (4) Notify each liable employer, in accordance with paragraph (e) of this section, of the amount of its liability under this section, demand payment of and collect that liability; and (5) Certify to the PBGC that determinations of liability have been completed, in accordance with paragraph (g) of this section. (d) Notice of withdrawal. Within 30 days after the end of a plan year in which a plan experiences a withdrawal described in paragraph (a), the plan sponsor shall notify in writing each employer that is or may be liable under this section. The notice shall specify the plan year in which substantially all employers have withdrawn, describe the consequences of such withdrawal under this section, and state that an employer obligated to make initial withdrawal liability payments shall continue to make those payments in accordance with its schedule. (e) Notice of liability. Within 30 days after the determination of liability, the plan sponsor shall issue a notice of … | ||||
| 29:29:9.1.4.21.31.2.25.9 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | B | Subpart B—Redetermination of Withdrawal Liability Upon Mass Withdrawal | § 4219.19 Method and date of issuance; computation of time. | PBGC | [68 FR 61356, Oct. 28, 2003] | The PBGC applies the rules in subpart B of part 4000 of this chapter to determine permissible methods of issuance under this subpart. The PBGC applies the rules in subpart C of part 4000 of this chapter to determine the date that an issuance under this subpart was provided. The PBGC applies the rules in subpart D of part 4000 of this chapter to compute any time period for issuances to third parties under this subpart. | |||
| 29:29:9.1.4.21.31.3.25.1 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | C | Subpart C—Overdue, Defaulted, and Overpaid Withdrawal Liability | § 4219.31 Overdue and defaulted withdrawal liability; overpayment. | PBGC | (a) Overdue withdrawal liability payment. Except as otherwise provided in rules adopted by the plan in accordance with § 4219.33, a withdrawal liability payment is overdue if it is not paid on the date set forth in the schedule of payments established by the plan sponsor. (b) Default. (1) Except as provided in paragraph (c)(1), “default” means— (i) The failure of an employer to pay any overdue withdrawal liability payment within 60 days after the employer receives written notification from the plan sponsor that the payment is overdue; and (ii) Any other event described in rules adopted by the plan which indicates a substantial likelihood that an employer will be unable to pay its withdrawal liability. (2) In the event of a default, a plan sponsor may require immediate payment of all or a portion of the outstanding amount of an employer's withdrawal liability, plus interest. In the event that the plan sponsor accelerates only a portion of the outstanding amount of an employer's withdrawal liability, the plan sponsor shall establish a new schedule of payments for the remaining amount of the employer's withdrawal liability. (c) Plan review or arbitration of liability determination. The following rules shall apply with respect to the obligation to make withdrawal liability payments during the period for plan review and arbitration and with respect to the failure to make such payments: (1) A default as a result of failure to make any payments shall not occur until the 61st day after the last of— (i) Expiration of the period described in section 4219(b)(2)(A) of ERISA; (ii) If the employer requests review under section 4219(b)(2)(A) of ERISA of the plan's withdrawal liability determination or the schedule of payments established by the plan, expiration of the period described in section 4221(a)(1) of ERISA for initiation of arbitration; or (iii) If arbitration is timely initiated either by the plan, the employer or both, issuance of the arbitrator's decision. (2) Any amounts due before the expiration of… | ||||
| 29:29:9.1.4.21.31.3.25.2 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | C | Subpart C—Overdue, Defaulted, and Overpaid Withdrawal Liability | § 4219.32 Interest on overdue, defaulted and overpaid withdrawal liability. | PBGC | (a) Interest assessed. The plan sponsor of a multiemployer plan— (1) Shall assess interest on overdue withdrawal liability payments from the due date, as defined in paragraph (d) of this section, until the date paid, as defined in paragraph (e); and (2) In the event of a default, may assess interest on any accelerated portion of the outstanding withdrawal liability from the due date, as defined in paragraph (d) of this section, until the date paid, as defined in paragraph (e). (b) Interest rate. Except as otherwise provided in rules adopted by the plan pursuant to § 4219.33, interest under this section shall be charged or credited for each calendar quarter at an annual rate equal to the average quoted prime rate on short-term commercial loans for the fifteenth day (or next business day if the fifteenth day is not a business day) of the month preceding the beginning of each calendar quarter, as reported by the Board of Governors of the Federal Reserve System in Statistical Release H.15 (“Selected Interest Rates”). (c) Calculation of interest. The interest rate under paragraph (b) of this section is the nominal rate for any calendar quarter or portion thereof. The amount of interest due the plan for overdue or defaulted withdrawal liability, or due the employer for overpayment, is equal to the overdue, defaulted, or overpaid amount multiplied by: (1) For each full calendar quarter in the period from the due date (or date of overpayment) to the date paid (or date of refund), one-fourth of the annual rate in effect for that quarter; (2) For each full calendar month in a partial quarter in that period, one-twelfth of the annual rate in effect for that quarter; and (3) For each day in a partial month in that period, one-three-hundred-sixtieth of the annual rate in effect for that month. (d) Due date. Except as otherwise provided in rules adopted by the plan, the due date from which interest accrues shall be, for an overdue withdrawal liability payment and for an amount of withdrawal liability in default… | ||||
| 29:29:9.1.4.21.31.3.25.3 | 29 | Labor | XL | I | 4219 | PART 4219—NOTICE, COLLECTION, AND REDETERMINATION OF WITHDRAWAL LIABILITY | C | Subpart C—Overdue, Defaulted, and Overpaid Withdrawal Liability | § 4219.33 Plan rules concerning overdue and defaulted withdrawal liability. | PBGC | Plans may adopt rules relating to overdue and defaulted withdrawal liability, provided that those rules are consistent with ERISA. These rules may include, but are not limited to, rules for determining the rate of interest to be charged on overdue, defaulted and overpaid withdrawal liability (provided that the rate reflects prevailing market rates for comparable obligations); rules providing reasonable grace periods during which late payments may be made without interest; additional definitions of default which indicate a substantial likelihood that an employer will be unable to pay its withdrawal liability; and rules pertaining to acceleration of the outstanding balance on default. Plan rules adopted under this section shall be reasonable. Plan rules shall operate and be applied uniformly with respect to each employer, except that the rules may take into account the creditworthiness of an employer. Rules which take into account the creditworthiness of an employer shall state with particularity the categories of creditworthiness the plan will use, the specific differences in treatment accorded employers in different categories, and the standards and procedures for assigning an employer to a category. |
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CREATE TABLE cfr_sections (
section_id TEXT PRIMARY KEY,
title_number INTEGER,
title_name TEXT,
chapter TEXT,
subchapter TEXT,
part_number TEXT,
part_name TEXT,
subpart TEXT,
subpart_name TEXT,
section_number TEXT,
section_heading TEXT,
agency TEXT,
authority TEXT,
source_citation TEXT,
amendment_citations TEXT,
full_text TEXT
);
CREATE INDEX idx_cfr_title ON cfr_sections(title_number);
CREATE INDEX idx_cfr_part ON cfr_sections(part_number);
CREATE INDEX idx_cfr_agency ON cfr_sections(agency);