29 C.F.R. § 4044.11 Priority category 1 benefits.
Title 29 - Labor
(a) Definition. The benefits in priority category 1 are participants' accrued benefits derived from voluntary employee contributions. (b) Assigning benefits. Absent an election described in the next sentence, the benefit assigned to priority category 1 with respect to each participant is the balance of the separate account maintained for the participant's voluntary contributions. If a participant has elected to receive an annuity in lieu of his or her account balance, the benefit assigned to priority category 1 with respect to that participant is the present value of that annuity.
Title 29: Labor
PART 4044—ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS
Subpart A—Allocation of Assets
Allocation of Assets To Benefit Categories
§ 4044.11 Priority category 1 benefits.
