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Code of Federal Regulations Title 29. Labor § 29.4262.9 Application for a plan with a partition

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) In general. This section applies to plans partitioned under section 4233 of ERISA. A partitioned plan is in priority group 2 for purposes of § 4262.10(d).

(b) Filing requirements. A plan sponsor of a partitioned plan filing an application for special financial assistance must—

(1) File one application for the original plan and successor plan.

(2) Include in the application—

(i) A statement that the plan was partitioned under section 4233 of ERISA;

(ii) A copy of the plan document and other amendments required under paragraph (c)(2) of this section;  and

(iii) The information required in §§ 4262.6 through 4262.8.

(3) If a plan sponsor has already filed with PBGC any of the required information described in paragraph (b)(2)(iii) of this section, the plan sponsor is not required to file that information with its application for special financial assistance. For any such information not filed with the application, the plan sponsor must note on the checklist described under § 4262.6(a) when the information was filed.

(c) Rescission of partition order. Effective when special financial assistance is paid under § 4262.12, and in a manner consistent with the application procedure determined under paragraph (b) of this section—

(1) PBGC will rescind the partition order;  and

(2) The plan sponsor must amend the plan to remove any provisions or amendments that were required to be adopted under the partition order.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 29. Labor § 29.4262.9 Application for a plan with a partition - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-29-labor/cfr-sect-29-4262-9/

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