29 CFR 4043.61 - Advance reporting filing obligation.
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(a) In general. Unless a waiver or extension applies with respect to the plan, each contributing sponsor of a plan for which a reportable event under this subpart is going to occur is required to notify the PBGC no later than 30 days before the effective date of the reportable event if the contributing sponsor is subject to advance reporting. If there is a change in contributing sponsor, the reporting obligation applies to the person who is the contributing sponsor of the plan on the notice date.
(b) Persons subject to advance reporting. A contributing sponsor is subject to the advance reporting requirement under paragraph (a) of this section if—
(1) Neither the contributing sponsor nor the member of the plan's controlled group to which the event relates is a public company; and
(2) The contributing sponsor is a member of a controlled group maintaining one or more plans that, in the aggregate (disregarding plans with no unfunded vested benefits) have—
(i) Vested benefits amounts that exceed the actuarial values of plan assets by more than $50 million; and
(1) Actuarial value of assets. The actuarial value of plan assets is determined in accordance with § 4006.4(b)(2) of this chapter;
(2) Funded vested benefit percentage. The aggregate funded vested percentage of one or more plans is the percentage that the total actuarial values of plan assets bears to the plans' total vested benefits amounts; and
(3) Testing date. Each plan's assets and vested benefits amount are determined as of that plan's testing date for the plan year that includes the effective date of the reportable event.
(d) Shortening of 30-day period. Pursuant to § 4043.3(d), the PBGC may, upon review of an advance notice, shorten the notice period to allow for an earlier effective date.
Title 29 published on 2014-07-01
no entries appear in the Federal Register after this date.