§ 4231.9. Notice of merger or transfer.
507 words·~2 min read·
/us/cfr/t29/s§ 4231.9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each notice of proposed merger or transfer required under section 4231(b)(1) of ERISA and this subpart must contain the following information:
(a)For each plan involved in the merger or transfer---
(1)The name of the plan;
(2)The name, address and telephone number of the plan sponsor and of the plan sponsor's duly authorized representative, if any; and
(3)The plan sponsor's EIN and the plan's PN and, if different, the EIN or PN last filed with PBGC. If no EIN or PN has been assigned, the notice must so indicate.
(b)Whether the transaction being reported is a merger or transfer, whether it involves any plan that has terminated under section 4041A(a)(2) of ERISA, whether any significantly affected plan is involved in the transaction (and, if so, identifying each such plan), and whether it is a de minimis transaction as defined in § 4231.7 (and, if so, including an enrolled actuary's certification to that effect).
(c)The proposed effective date of the transaction.
(d)Except as provided under § 4231.4(b), a copy of each plan provision stating that no participant's or beneficiary's accrued benefit will be lower immediately after the effective date of the merger or transfer than the benefit immediately before that date.
(e)For each plan that exists after the transaction, one of the following statements, certified by an enrolled actuary:
(1)A statement that the plan satisfies the applicable plan solvency test set forth in § 4231.6, indicating which is the applicable test, and including the supporting data, calculations, assumptions, and methods.
(2)A statement of the basis on which the actuary has determined under § 4231.3(a)(3)(ii) that benefits under the plan are not reasonably expected to be subject to suspension under section 4245 of ERISA, including the supporting data, calculations, assumptions, and methods.
(f)For each plan that exists before a transaction (unless the transaction is de minimis and does not involve either a request for financial assistance, or any plan that has terminated under section 4041A(a)(2) of ERISA), a copy of the most recent actuarial valuation report that satisfies the requirements of § 4231.5.
(g)For each significantly affected plan that exists after the transaction, the following information used in making the plan solvency determination under § 4231.6(b):
(1)The present value of the accrued benefits and plan's fair market value of assets under the valuation required by § 4231.5, allocable to the plan after the transaction.
(2)The fair market value of assets in the plan after the transaction (determined in accordance with § 4231.6(c)(4)).
(3)The expected benefit payments for the plan for the first plan year beginning on or after the proposed effective date of the transaction (determined in accordance with § 4231.6(c)(3)).
(4)The contribution rates in effect for the plan for the first plan year beginning on or after the proposed effective date of the transaction.
(5)The expected contributions for the plan for the first plan year beginning on or after the proposed effective date of the transaction (determined in accordance with § 4231.6(c)(1)).