NOIT - 60 days

[ndj2377]

For the 60 days requirement, is the day the notice provide included in the 60 days? For example - if the NOIT was provided September 2nd and the Plan Termination Date was November 1st - does that satisfy the 60-day requirement? Looking for definitive answers and they are hard to come by.

[NJ Mike]

Check out the PBGC instructions for counting days:

A. Computation of Time; Filing and Issuance Rules (see 29 CFR § 4041.3 and 29 CFR § 4000 Subpart D)

In computing any period of time, if you are counting forward, begin counting on the day after the event occurs and count the last day of the period. If you are counting backwards, begin counting on the day before the event occurs and count the first day of the period. If you counted forward and the last day of the period is a weekend or Federal holiday, then the period runs until the next regular business day after the last day of the period. If an event cannot be more than a certain number of days before a certain date and the last day of the period is a weekend or Federal holiday, then the period runs until the next regular business day before the last day of the period.

Note: A proposed termination date may be any day, including a Saturday, Sunday or Federal holiday.

Example: Suppose you are issuing a notice of intent to terminate. The notice must be issued at least 60 days, but not more than 90 days, before the proposed termination date. Suppose the 60th day before the proposed termination date is a Saturday. Your notice is timely if you issue it on the following Monday even though that is only 58 days before the proposed termination date. Similarly, if the 90th day before the proposed termination date is Monday, July 4, 2011 (a Federal holiday), your notice is timely if you issue it on Friday, July 1, even though that is 93 days before the proposed termination date.

 Mike

 

[ndj2377]

25 minutes ago, NJ Mike said:

Check out the PBGC instructions for counting days:

A. Computation of Time; Filing and Issuance Rules (see 29 CFR § 4041.3 and 29 CFR § 4000 Subpart D)

In computing any period of time, if you are counting forward, begin counting on the day after the event occurs and count the last day of the period. If you are counting backwards, begin counting on the day before the event occurs and count the first day of the period. If you counted forward and the last day of the period is a weekend or Federal holiday, then the period runs until the next regular business day after the last day of the period. If an event cannot be more than a certain number of days before a certain date and the last day of the period is a weekend or Federal holiday, then the period runs until the next regular business day before the last day of the period.

Note: A proposed termination date may be any day, including a Saturday, Sunday or Federal holiday.

Example: Suppose you are issuing a notice of intent to terminate. The notice must be issued at least 60 days, but not more than 90 days, before the proposed termination date. Suppose the 60th day before the proposed termination date is a Saturday. Your notice is timely if you issue it on the following Monday even though that is only 58 days before the proposed termination date. Similarly, if the 90th day before the proposed termination date is Monday, July 4, 2011 (a Federal holiday), your notice is timely if you issue it on Friday, July 1, even though that is 93 days before the proposed termination date.

 Mike

 

Thanks Mike -

Based on their instructions, it would appear that the timing I laid out is ok. Counting backwards, count the day before the event occurs (October 31st) and the first day of the period (September 2nd).