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PBGC RIN: 1212-AB53 Publication ID: Spring 2022 
Title: Special Financial Assistance by PBGC 
Abstract:

This final rule implements section 9704 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.  

 
Agency: Pension Benefit Guaranty Corporation(PBGC)  Priority: Economically Significant 
RIN Status: Previously 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:
Action Source Description Date
Other  Statutory  120 days after date of enactment (March 11, 2021)  07/09/2021 

Overall Description of Deadline: Section 4262(c) as added to the Employee Retirement Income Security Act of 1974 (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 (SFA) applications under this section.

Timetable:
Action Date FR Cite
Interim Final Rule  07/12/2021  86 FR 36598   
Interim Final Rule Effective  07/12/2021 
Interim Final Rule Comment Period End  08/11/2021 
Final Action  06/00/2022 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: Yes 
RIN Data Printed in the FR: No 
Agency Contact:
Hilary Duke
Assistant General Counsel for Regulatory Affairs
Pension Benefit Guaranty Corporation
445 12th Street SW,
Washington, DC 20024
Phone:202 229-3839
Email: duke.hilary@pbgc.gov