[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR4022.1]

[Page 785-786]
 
                             TITLE 29--LABOR
 
            CHAPTER XL--PENSION BENEFIT GUARANTY CORPORATION
 
PART 4022_BENEFITS PAYABLE IN TERMINATED SINGLE-EMPLOYER PLANS--Table 
of Contents
 
            Subpart A_General Provisions; Guaranteed Benefits
 
Sec. 4022.1  Purpose and scope.




            Subpart A_General Provisions; Guaranteed Benefits

Sec.
4022.1 Purpose and scope.
4022.2 Definitions.
4022.3 Guaranteed benefits.
4022.4 Entitlement to a benefit.
4022.5 Determination of nonforfeitable benefits.
4022.6 Annuity payable for total disability.
4022.7 Benefits payable in a single installment.
4022.8 Form of payment.
4022.9 Time of payment; benefit applications.
4022.10 Earliest PBGC Retirement Date.

              Subpart B_Limitations on Guaranteed Benefits

4022.21 Limitations; in general.
4022.22 Maximum guaranteeable benefit.
4022.23 Computation of maximum guaranteeable benefits.
4022.24 Benefit increases.
4022.25 Five-year phase-in of benefit guarantee for participants other 
          than substantial owners.
4022.26 Phase-in of benefit guarantee for participants who are 
          substantial owners.
4022.27 Effect of tax disqualification.

Subpart C--Calculation and Payment of Unfunded Nonguaranteed Benefits 
[Reserved]

            Subpart D_Benefit Reductions in Terminating Plans

4022.61 Limitations on benefit payments by plan administrator.
4022.62 Estimated guaranteed benefit.
4022.63 Estimated title IV benefit.

Subpart E_PBGC Recoupment and Reimbursement of Benefit Overpayments and 
                              Underpayments

4022.81 General rules.
4022.82 Method of recoupment.
4022.83 PBGC reimbursement of benefit underpayments.

               Subpart F_Certain Payments Owed Upon Death

4022.91 When do these rules apply?
4022.92 What definitions do I need to know for these rules?
4022.93 Who will get benefits the PBGC may owe me at the time of my 
          death?
4022.94 What are the PBGC's rules on designating a person to get 
          benefits the PBGC may owe me at the time of my death?
4022.95 Examples.

 Subpart G_Certain-and-Continuous and Similar Annuity Payments Owed for 
                       Future Periods After Death

4022.101 When do these rules apply?
4022.102 What definitions do I need to know for these rules?
4022.103 Who will get benefits if I die when payments for future periods 
          under a certain-and-continuous or similar annuity are owed 
          upon my death?
4022.104 Examples.

Appendix A to Part 4022--Lump Sum Mortality Rates
Appendix B to Part 4022--Lump Sum Interest Rates for PBGC Payments
Appendix C to Part 4022--Lump Sum Interest Rtaes for Private-Sector 
          Payments
Appendix D to Part 4022--Maximum Guaranteeable Monthly Benefit

    Authority: 29 U.S.C. 1302, 1322, 1322b, 1341(c)(3)(D), and 1344.

    Source: 61 FR 34028, July 1, 1996, unless otherwise noted.



    The purpose of this part is to prescribe rules governing the 
calculation and payment of benefits payable in terminated single-
employer plans under section 4022 of ERISA. Subpart A, which applies to 
each plan providing benefits guaranteed under title IV of ERISA, 
contains definitions applicable to all subparts, and describes benefits 
that are guaranteed by the PBGC subject to the limitations set forth in 
subpart B. Subpart C is reserved for rules relating to the calculation 
and payment of unfunded nonguaranteed benefits under section 4022(c) of 
ERISA. Subpart D prescribes procedures that minimize the overpayment of 
benefits by plan administrators after initiating

[[Page 786]]

distress terminations of single-employer plans that are not expected to 
be sufficient for guaranteed benefits. Subpart E sets forth the method 
of recoupment of benefit payments in excess of the amounts permitted 
under sections 4022, 4022B, and 4044 of ERISA from participants and 
beneficiaries in PBGC-trusteed plans, and provides for reimbursement of 
benefit underpayments. (The provisions of this part have not been 
amended to take account of changes made in section 4022 of ERISA by 
sections 766 and 777 of the Retirement Protection Act of 1994.)

[61 FR 34028, July 1, 1996, as amended at 62 FR 67728, Dec. 30, 1997]