PART 4001—TERMINOLOGY Authority: 29 U.S.C. 1301, 1302(b)(3). Source: 61 FR 34010, July 1, 1996, unless otherwise noted. § 4001.1 Purpose and scope. (a) In general. (b) Title IV coverage. [61 FR 34010, July 1, 1996, as amended at 82 FR 60817, Dec. 22, 2017] § 4001.2 Definitions. For purposes of this chapter (unless otherwise indicated or required by the context): Affected party (1) Each participant in the plan; (2) Each beneficiary of a deceased participant; (3) Each alternate payee under an applicable qualified domestic relations order, as defined in section 206(d)(3) of ERISA; (4) Each employee organization that currently represents any group of participants; (5) For any group of participants not currently represented by an employee organization, the employee organization, if any, that last represented such group of participants within the 5-year period preceding issuance of the notice of intent to terminate; and (6) The PBGC. If an affected party has designated, in writing, a person to receive a notice on behalf of the affected party, any reference to the affected party (in connection with the notice) shall be construed to refer to such person. Annuity Bankruptcy filing date (1) If all contributing sponsors entered bankruptcy on the same date, that date is the bankruptcy filing date; (2) If all contributing sponsors did not enter bankruptcy on the same date (or if not all contributing sponsors are in bankruptcy), PBGC will determine the date that will be treated as the bankruptcy filing date based on the facts and circumstances, which may include such things as the relative sizes of the contributing sponsors, the relative amounts of their minimum required contributions to the plan, the timing of the different bankruptcies, and the expectations of participants. Basic-type benefit Benefit liabilities Code Complete withdrawal Contributing sponsor Controlled group Corporation Defined benefit plan Disclosure Officer Distress termination Distribution date (1) For benefits provided through the purchase of irrevocable commitments, the date on which the obligation to provide the benefits passes from the plan to the insurer; and (2) For benefits provided other than through the purchase of irrevocable commitments, the date on which the benefits are delivered to the participant or beneficiary (or to another plan or benefit arrangement or other recipient authorized by the participant or beneficiary in accordance with applicable law and regulations) personally or by deposit with a mail or courier service (as evidenced by a postmark or written receipt); or Earliest retirement age at valuation date EIN Employer ERISA Expected retirement age (XRA) Fair market value FOIA Funding standard account Guaranteed benefit Insurer Irrevocable commitment IRS Majority owner (1) The entire interest in an unincorporated trade or business; (2) 50 percent or more of the capital interest or the profits interest in a partnership; or (3) 50 percent or more of either the voting stock of a corporation or the value of all of the stock of a corporation. Mandatory employee contributions Mass withdrawal (1) The withdrawal of every employer from the plan, (2) The cessation of the obligation of all employers to contribute under the plan, or (3) The withdrawal of substantially all employers pursuant to an agreement or arrangement to withdraw. Multiemployer Act Multiemployer plan Multiple employer plan Non-PPA 2006 bankruptcy termination Nonbasic-type benefit Nonforfeitable benefit Normal retirement age Notice of intent to terminate PBGC Person Plan Plan administrator Plan sponsor Plan year PN PPA 2006 bankruptcy termination Proposed termination date Rollover amounts Single-employer plan Standard termination Sufficient for benefit liabilities Sufficient for guaranteed benefits Termination date Title IV benefit Unreduced retirement age (URA) U.S. entity Ultimate parent Voluntary employee contributions [61 FR 34010, July 1, 1996] Editorial Note: For Federal Register § 4001.3 Trades or businesses under common control; controlled groups. For purposes of title IV of ERISA: (a)(1) The PBGC will determine that trades and businesses (whether or not incorporated) are under common control if they are “two or more trades or businesses under common control”, as defined in regulations prescribed under section 414(c) of the Code. (2) The PBGC will determine that all employees of trades or businesses (whether or not incorporated) which are under common control shall be treated as employed by a single employer, and all such trades and businesses shall be treated as a single employer. (3) An individual who owns the entire interest in an unincorporated trade or business is treated as his own employer, and a partnership is treated as the employer of each partner who is an employee within the meaning of section 401(c)(1) of the Code. (b) In the case of a single-employer plan: (1) In connection with any person, a controlled group consists of that person and all other persons under common control with such person. (2) Persons are under common control if they are members of a “controlled group of corporations”, as defined in regulations prescribed under section 414(b) of the Code, or if they are “two or more trades or businesses under common control”, as defined in regulations prescribed under section 414(c) of the Code.