<?xml version='1.0' encoding='utf-8'?>

<rss version="2.0">
  <channel>
    <title>The Federal Register</title>
    <link>http://thefederalregister.com/b.p/agency/Pension_Benefit_Guaranty_Corporation/2008-07-01/</link>
    <description>Daily Publications of Meetings and Rules Changes for the Federal Government</description>
    <pubDate>Thu, Dec 4 2008 11:00:00 GMT</pubDate>
    <lastBuildDate>Thu, Dec 4 2008 11:00:00 GMT</lastBuildDate>
    <webMaster>info@thefederalregister.com</webMaster>
    <item>
  <title><![CDATA[
Bankruptcy Filing Date Treated as Plan Termination Date for  Certain Purposes; Guaranteed Benefits; Allocation of Plan]]></title>
  <link>http://thefederalregister.com/d.p/2008-07-01-E8-14813</link>
  <description><![CDATA[ This is a proposed rule to implement section 404 of the 
Pension Protection Act of 2006. Section 404 amended Title IV of ERISA 
to provide that when an underfunded, PBGCcovered, singleemployer 
pension plan terminates while its contributing sponsor is in 
bankruptcy, sections 4022 and 4044(a)(3) of ERISA are to be applied by 
treating the date the sponsor's bankruptcy petition was filed as the 
termination date of the plan. Section 4022 determines which benefits 
are guaranteed by PBGC, and section 4044(a)(3) determines which 
benefits are entitled to priority in ``priority category 3'' in the 
statutory hierarchy for allocating the assets of a terminated plan. 
Thus, under the 2006 amendments, when a plan terminates while the 
sponsor is in bankruptcy, the amount of benefits guaranteed by PBGC and 
the amount of benefits in priority category 3 are fixed at the date of 
the bankruptcy filing rather than at the plan termination date. This 
will, in most cases, reduce the amount of guaranteed benefits and the <script type="text/javascript">
<!--
google_ad_client = "pub-2051746026283201";
google_ad_width = 728;
google_ad_height = 15;
google_ad_format = "728x15_0ads_al";
//2007-08-22: federalregister-rss
google_ad_channel = "2005962856";
google_color_border = "CC0000";
google_color_bg = "FFFFFF";
google_color_link = "CC0000";
google_color_text = "000000";
google_color_url = "008000";
//-->
</script>
<script type="text/javascript"
  src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
</script>
]]></description>
  <guid>http://thefederalregister.com/d.p/2008-07-01-E8-14813</guid>
  <pubDate>Tue, Jul 1 2008 11:00:00 GMT</pubDate>
</item>
</channel>
</rss>

