Pension Benefit Guaranty Corporation (PBGC) Liens and Liability
Liability to Pension Benefit Guaranty Corporation (PBGC) and liens enforceable by PBGC arise in connection with terminated and ongoing single-employer defined benefit plans. We work with clients on PBGC liens and liability, including:
- Addressing statutory lien under Internal Revenue Code section 430(k) for missed contributions.
- Addressing statutory lien under Employee Retirement Income Security Act (ERISA) section 4068 for failure to pay termination liability.
- Lien for minimum funding waiver.
- Addressing cessation of operations at a facility under ERISA section 4062(e).
- Settling liability under section 4062 and 4064 for termination of single-employer plans (including "multiple employer" plans).
- Settling PBGC premium liability.
- Settling penalties assessed under ERISA section 4071 of liability.