Deposit Into Pension Funds. The statute provides that recipients may not use Fiscal Recovery Funds for ‘‘deposit into any pension fund.’’ For the reasons discussed below, Treasury interprets ‘‘deposit’’ in this context to refer to an extraordinary payment into a pension fund for the purpose of reducing an accrued, unfunded liability. More specifically, the interim final rule does not permit this assistance to be used to make a payment into a pension fund if both:
Appears in 27 contracts
Samples: Funding Agreement, Funding Agreement, Funding Agreement
