§4203.5. PBGC action on requests.
29 C.F.R. § 4203.5
General. The PBGC shall approve a plan amendment providing for the application of special complete or partial withdrawal liability rules upon a determination by the PBGC that the plan amendment—
Will apply only to an industry that has characteristics that would make use of the special withdrawal rules appropriate; and
Will not pose a significant risk to the insurance system.
Notice of pendency of request. As soon as practicable after receiving a request for approval of a plan amendment containing all the information required under § 4203.4, the PBGC shall publish a notice of the pendency of the request in the Federal Register. The notice shall contain a summary of the request and invite interested persons to submit written comments to the PBGC concerning the request. The notice will normally provide for a comment period of 45 days.
PBGC decision on request. After the close of the comment period, PBGC shall issue its decision in writing on the request for approval of a plan amendment. Notice of the decision shall be published in the Federal Register.
Notes, amendments, and revision history
Authority
Authority: 29 U.S.C. 1302(b)(3).
Source
Source: 61 FR 34083, July 1, 1996, unless otherwise noted.