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PBGC | RIN: 1212-AB53 | Publication ID: Spring 2021 |
Title: ●Special Financial Assistance by PBGC | |
Abstract:
This interim final rule implements section 9704 of subtitle H of the American Rescue Plan Act by setting forth the requirements for plan sponsors of financially troubled multiemployer defined benefit pension plans to apply for special financial assistance from the Pension Benefit Guaranty Corporation, and related requirements. |
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Agency: Pension Benefit Guaranty Corporation(PBGC) | Priority: Economically Significant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 29 CFR 4262 | |
Legal Authority: 29 U.S.C. 1432 29 U.S.C. 1302(b)(3) |
Legal Deadline:
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Overall Description of Deadline: Section 4262(c) as added to ERISA by section 9704 of Subtitle H of the American Rescue Plan Act of 2021, requires that within 120 days of the date of enactment of this section, PBGC shall issue regulations or guidance setting forth requirements for special financial assistance applications under this section. |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Hilary Duke Assistant General Counsel for Regulatory Affairs Pension Benefit Guaranty Corporation 1200 K Street NW, Washington, DC 20005 Phone:202 229-3839 Email: duke.hilary@pbgc.gov |