{"data":{"id":"us/29-cfr-4281.2","jurisdiction":"us","citation":"29 CFR 4281.2","heading":"Definitions.","body":"The following terms are defined in § 4001.2 of this chapter: annuity, employer, ERISA, fair market value, IRS, insurer, irrevocable commitment, mass withdrawal, multiemployer plan, nonforfeitable benefit, normal retirement age, PBGC, person, plan, plan administrator, and plan year. In addition, for purposes of this part:\nActuarial valuation means a report submitted to a plan of a valuation of plan assets and liabilities that is performed in accordance with subpart B of this part.\nAvailable resources means available resources as described in section 4245(b)(3) of ERISA.\nBenefits subject to reduction means those benefits accrued under plan amendments (or plans) adopted after March 26, 1980, or under collective bargaining agreements entered into after March 26, 1980, that are not eligible for PBGC's guarantee under section 4022A(b) of ERISA.\nFinancial assistance means financial assistance from PBGC under section 4261 of ERISA.\nInsolvency benefit level means the greater of the resource benefit level or the benefit level guaranteed by PBGC for each participant and beneficiary in pay status.\nInsolvency year means insolvency year as described in section 4245(b)(4) of ERISA.\nInsolvent means unable to pay benefits when due during the plan year.\nPro rata means that the required benefit reduction or payment must be allocated among affected participants in the same proportion that each such participant's nonforfeitable benefits under the plan bear to all nonforfeitable benefits of those participants under the plan.\nReasonably expected to enter pay status means, with respect to plan participants and beneficiaries, persons (other than those in pay status) who, according to plan records, are disabled, have applied for benefits, or have reached or will reach during the applicable period the normal retirement age under the plan, and any others whom it is reasonable for the plan sponsor to expect to enter pay status during the applicable period.\nResource benefit level means resource benefit level as described in section 4245(b)(2) of ERISA.\nValuation date means the last day of the plan year in which the plan terminates and the last day of each plan year thereafter.","path":["Title 29—Labor","Subtitle B—Regulations Relating to Labor","CHAPTER XL—PENSION BENEFIT GUARANTY CORPORATION","SUBCHAPTER J—INSOLVENCY, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS","PART 4281—DUTIES OF PLAN SPONSOR FOLLOWING MASS WITHDRAWAL","Subpart A—General Provisions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-29.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:20Z","sha256":"d4f0542104d7a30ac0c84f657dfdcc28da0119b34189b3a76c2c988b2d1aa391","source_id":"us-cfr","stale":true,"prev":"us/29-cfr-4281.1","next":"us/29-cfr-4281.3"},"notice":"GroundRules: Original legal text. Not legal advice."}