[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR4022.4]

[Page 713-714]
 
                             TITLE 29--LABOR
 
                          GUARANTY CORPORATION
 
PART 4022--BENEFITS PAYABLE IN TERMINATED SINGLE-EMPLOYER PLANS--Table of Contents
 
           Subpart A--General Provisions; Guaranteed Benefits
 
Sec. 4022.4  Entitlement to a benefit.

    (a) A participant or his surviving beneficiary is entitled to a 
benefit if under the provisions of a plan:
    (1) The benefit was in pay status on the date of the termination of 
the plan.
    (2) A benefit payable at normal retirement age is an optional form 
of payment to the benefit otherwise payable at such age and the 
participant elected the benefit before the termination date of the plan.
    (3) Except for a benefit described in paragraph (a)(2) of this 
section, before the termination date the participant had satisfied the 
conditions of the plan necessary to establish the right to receive the 
benefit prior to such date other than application for the benefit, 
satisfaction of a waiting period described in the plan, or retirement; 
or
    (4) Absent an election by the participant, the benefit would be 
payable upon retirement.
    (5) In the case of a benefit that returns all or a portion of a 
participant's accumulated mandatory employee contributions upon death, 
the participant

[[Page 714]]

(or beneficiary) had satisfied the conditions of the plan necessary to 
establish the right to the benefit other than death or designation of a 
beneficiary.
    (b) If none of the conditions set forth in paragraph (a) of this 
section is met, the PBGC will determine whether the participant is 
entitled to a benefit on the basis of the provisions of the plan and the 
circumstances of the case.