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Since the Pension Plan was a single-employer plan, the
question then becomes whether it was terminated in accordance
with ERISA sec. 4041(a)(1), 29 U.S.C. sec. 1341(a)(1). As
stated, a single-employer plan may be terminated only in a
standard or distress termination. ERISA sec. 4041(a)(1), 29
U.S.C. sec. 1341(a)(1). A distress termination requires that the
PBGC determine whether any of the criteria for a distress
termination have been met. ERISA sec. 4041(c)(2)(B), 29 U.S.C.
sec. 1341(c)(2)(B). In this case, the PBGC has made no such
finding. Thus, the remaining question is whether the Pension
Plan was terminated as of June 30, 1988, by a standard
termination.
A standard termination requires the plan administrator to
(1) provide a "60-day advance notice of intent to terminate to
affected parties", (2) notify the PBGC as soon as practicable
after notice of intent to terminate has been sent to affected
parties, and (3) give notice, not later than the date on which
notice is sent to the PBGC, to each participant or beneficiary
under the plan specifying the amount of his or her benefit as of
the proposed termination date and the data used to determine the
benefit such as length of service, age of the participant or
beneficiary, wages, assumptions, including the interest rate, and
any other information required by the PBGC. ERISA sec.
4041(b)(2)(B), 29 U.S.C. sec. 1341(b)(2)(B). The plan
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