---
kind: "section"
citation: "29 C.F.R. § 4022.51"
title: "29"
number: "4022.51"
heading: "Determination of section 4022(c) benefits in a PPA 2006 bankruptcy termination."
url: "https://uscodex.org/cfr/29/4022.51"
---

# §4022.51. Determination of section 4022(c) benefits in a PPA 2006 bankruptcy termination.

- (a) **Amount of unfunded nonguaranteed benefits.** For purposes of this section, and subject to [paragraph (b)](#b) of this section, a plan's amount of unfunded nonguaranteed benefits means the plan's outstanding amount of benefit liabilities, as defined in [section 4001(a)(19)](/cfr/29/4001.md?p=a-19) of ERISA, determined as of the plan's termination date. A plan's amount of unfunded nonguaranteed benefits is multiplied by the applicable recovery ratio to determine the aggregate amount to be allocated with respect to participants of the plan under [section 4022(c)(1)](/cfr/29/4022.md?p=c-1) of ERISA.
- (b) **Benefits included in unfunded nonguaranteed benefits.** For purposes of computing benefits under [section 4022(c)](/cfr/29/4022.md?p=c) of ERISA in a PPA 2006 bankruptcy termination, unfunded nonguaranteed benefits are benefits under a plan as of the plan's termination date that are neither guaranteed by PBGC (taking into account [section 4022(g)](/cfr/29/4022.md?p=g) of ERISA) nor funded by the plan's assets (taking into account [section 4044(e)](/cfr/29/4044.md?p=e) of ERISA).
- (c) **Determination of recovery ratio.** In a PPA 2006 bankruptcy termination, the recovery ratio under [section 4022(c)(3)](/cfr/29/4022.md?p=c-3) of ERISA is determined as follows. The numerator is based on PBGC's recoveries under section [4062](/cfr/29/4062.md), [4063](/cfr/29/4063.md), or [4064](/cfr/29/4064.md), valued as of the plan's (or plans') termination date (or dates). The denominator of the recovery ratio is based on the amount of unfunded benefit liabilities, as defined in [section 4001(a)(18)](/cfr/29/4001.md?p=a-18) of ERISA, as of the plan's (or plans') termination date (or dates).

## Notes

### Amendments

[76 FR 34603, June 14, 2011]

### Authority

Authority: 29 U.S.C. 1302, 1322, 1322b, 1341(c)(3)(D), and 1344.

### Source

Source: 61 FR 34028, July 1, 1996, unless otherwise noted.

### Amendments

[76 FR 34603, June 14, 2011]