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2010-09-24
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Request for Determination of Substantial Damage With Respect to the Cessation of the Obligation to Contribute by Kane Transfer Company to the Freight Drivers and Helpers Local Union No. 557 Pension Fund
Part I
Notices
D09002ee1be006ed0
D09002ee1be006f4d
United States
Pension Benefit Guaranty Corporation
originator
org
United States Government Agency or Subagency
This notice advises interested persons that the Pension Benefit Guaranty Corporation (the ``PBGC'') has declined to make a determination of substantial damage under section 4203(d)(4) of the Employee Retirement Income Security Act with respect to the cessation of contributions under the Freight Drivers and Helpers Local Union No. 557 Pension Fund by Kane Transfer Company. Section 4203(d) provides a special withdrawal rule for the trucking industry, under which a trucking employer is not considered to have withdrawn from the plan if certain conditions are met, including the furnishing of a bond or escrow. After the bond/escrow requirement has been satisfied, the PBGC may make a finding under section 4203(d)(4) that the cessation (considered together with other cessations) has substantially damaged the plan's contribution base. In this event, the employer will be treated as having withdrawn from the plan and the bond or escrow will be paid to the plan. Alternatively, the PBGC may find under section 4203(d)(5) that no substantial damage has been caused, in which case the bond will be canceled or the escrowed amount returned to the employer, and the employer will have no further liability under the plan. The purpose of this notice is to advise interested persons that the PBGC has declined to find substantial damage in this case.
63 FR 1511
https://www.govinfo.gov/app/details/FR-1998-01-09/98-536
98-536
fr09ja98-101
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https://www.govinfo.gov/app/details/FR-1998-01-09/98-536
https://www.govinfo.gov/content/pkg/FR-1998-01-09/html/98-536.htm
https://www.govinfo.gov/content/pkg/FR-1998-01-09/pdf/98-536.pdf
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63 FR 1511
Request for Determination of Substantial Damage With Respect to the Cessation of the Obligation to Contribute by Kane Transfer Company to the Freight Drivers and Helpers Local Union No. 557 Pension Fund; Federal Register Vol. 63, Issue
NOTICE
98-536
I
PENSION BENEFIT GUARANTY CORPORATION
7708-01-P
98-536
Notice of No Determination.
This notice advises interested persons that the Pension Benefit Guaranty Corporation (the ``PBGC'') has declined to make a determination of substantial damage under section 4203(d)(4) of the Employee Retirement Income Security Act with respect to the cessation of contributions under the Freight Drivers and Helpers Local Union No. 557 Pension Fund by Kane Transfer Company. Section 4203(d) provides a special withdrawal rule for the trucking industry, under which a trucking employer is not considered to have withdrawn from the plan if certain conditions are met, including the furnishing of a bond or escrow. After the bond/escrow requirement has been satisfied, the PBGC may make a finding under section 4203(d)(4) that the cessation (considered together with other cessations) has substantially damaged the plan's contribution base. In this event, the employer will be treated as having withdrawn from the plan and the bond or escrow will be paid to the plan. Alternatively, the PBGC may find under section 4203(d)(5) that no substantial damage has been caused, in which case the bond will be canceled or the escrowed amount returned to the employer, and the employer will have no further liability under the plan. The purpose of this notice is to advise interested persons that the PBGC has declined to find substantial damage in this case.
Thomas T. Kim, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005-4026; telephone 202-326-4020 ext. 3581 (For TTY/ TDD, call the Federal relay service at 1-800-877-8339 and ask to be connected to 202-326-4020).
Federal Register
Vol. 63, no. 6
Office of the Federal Register, National Archives and Records Administration
1998-01-09
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Table of Contents:
AE 2.7:
GS 4.107:
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https://www.govinfo.gov/app/details/FR-1998-01-09
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https://www.govinfo.gov/app/details/FR-1998-01-09
https://www.govinfo.gov/content/pkg/FR-1998-01-09/pdf/FR-1998-01-09.pdf
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