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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 29 - Labor |
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Subtitle B - Regulations Relating to Labor |
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Chapter XL - Pension Benefit Guaranty Corporation |
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SubChapter E - Plan Terminations |
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Part 4041 - Termination of Single-Employer Plans |
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Subpart C - Distress Termination Process |
§ 4041.50 - Closeout of plan.
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§ 4041.50 Closeout of plan.
If a plan administrator receives a distribution notice from the PBGC pursuant to § 4041.47 and neither the plan administrator nor the PBGC makes the finding described in § 4041.49(b) or (d), the plan administrator must distribute plan assets in accordance with § 4041.28 and file a post-distribution certification in accordance with § 4041.29, except that -
(a) The term “plan benefits” is replaced with “title IV benefits”;
(b) For purposes of applying the distribution deadline in § 4041.28(a)(1)(i), the phrase “after the expiration of the PBGC's 60-day (or extended) review period under § 4041.26(a)” is replaced with “the day on which the plan administrator completes the issuance of the notices of benefit distribution pursuant to § 4041.48(a)”; and
(c) For purposes of applying the distribution deadline in § 4041.28(a)(1)(ii), the phrase “the requirements of § 4041.25(c)” is replaced with “the requirements of § 4041.48(d)”.