Termination of Multiemployer Plans (29 CFR Part 4041A)

Plan sponsors of terminating multiemployer pension plans give notices to PBGC about plan terminations and to plan participants about electing benefit options, and apply to PBGC for permission to pay lump sums greater than $1,750 or to pay nonvested plan benefits. PBGC uses information submitted to it to assess the likelihood of benefit reductions or suspensions and risks to PBGC and participants and to estimate the need for financial assistance to plans. Participants use information sent to them to make personal financial decisions. Plans terminated by mass withdrawal, plans terminated by plan amendment that are expected to become insolvent, and insolvent plans receiving financial assistance from PBGC are required to file actuarial valuations and withdrawal liability information with PBGC.

The latest form for Termination of Multiemployer Plans (29 CFR Part 4041A) expires 2022-06-30 and can be found here.