What kinds of business transactions may be of concern to the PBGC?
The PBGC is particularly concerned about transactions that substantially weaken the financial support for a pension plan. 2. What are some examples of these types of business transactions? Examples of transactions that may substantially weaken the financial support for a pension plan: (1) A breakup of a controlled group, including a spin-off of a subsidiary, (2) A transfer of significantly underfunded pension liabilities in connection with the sale of a business, (3) A leveraged buyout, (4) A major divestiture by an employer who retains significantly underfunded pension liabilities, (5) A payment of extraordinary dividends, or (6) A substitution of secured debt for a significant amount of previously unsecured debt. IV. PBGC Information Needs 1. Why does the PBGC request additional information under the Early Warning Program? Frequently, the PBGC first learns of a transaction from reports in the financial press. Because limited information is reported in the press, we cannot always dete
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- What kinds of business transactions may be of concern to the PBGC?
