29 C.F.R. § 4903.21 Application of Federal Claims Collection Standards.
Title 29 - Labor
The PBGC will determine the feasibility of collection by administrative offset, whether to accept a repayment agreement in lieu of offset, and how to apply amounts collected by administrative offset on multiple debts as provided in the Federal Claims Collection Standards (4 CFR 102.3). (a) Feasibility. The PBGC will determine whether collection by administrative offset is feasible on a case-by-case basis in the exercise of sound discretion. In making such determinations, the PBGC will consider: (1) Whether administrative offset can be accomplished, both practically and legally; (2) Whether administrative offset is best suited to further and protect all governmental interests; (3) In appropriate circumstances, the debtor's financial condition; and (4) Whether offset would tend to interfere substantially with or defeat the purposes of the program authorizing the payments against which offset is contemplated. (b) Repayment agreements. The PBGC will exercise its discretion in determining whether to accept a repayment agreement in lieu of offset, balancing the Government's interest in collecting the debt against fairness to the debtor. If the debt is delinquent (within the meaning of 4 CFR 101.2(b)) and the debtor has not disputed its existence or amount, the PBGC will accept a repayment agreement in lieu of offset only if the debtor is able to establish that offset would result in undue financial hardship or would be against equity and good conscience. (c) Multiple debts. When the PBGC collects multiple debts by administrative offset, it will apply the recovered amounts to those debts in accordance with the best interests of the United States, as determined by the facts and circumstances of the particular case, paying special attention to applicable statutes of limitations.
Title 29: Labor
PART 4903—DEBT COLLECTION
Subpart B—Administrative Offset
§ 4903.21 Application of Federal Claims Collection Standards.
