29 CFR § 4044.11 - Priority category 1 benefits.

---
identifier: "/us/cfr/t29/s4044.11"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "29 CFR § 4044.11 - Priority category 1 benefits."
title_number: 29
title_name: "Labor"
section_number: "4044.11"
section_name: "Priority category 1 benefits."
chapter_name: "PENSION BENEFIT GUARANTY CORPORATION"
subchapter_number: "E"
subchapter_name: "PLAN TERMINATIONS"
part_number: "4044"
part_name: "ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "29 U.S.C. 1301(a), 1302(b)(3), 1341, 1344, 1362."
regulatory_source: "61 FR 34059, July 1, 1996, unless otherwise noted."
cfr_part: "4044"
---


# 4044.11 Priority category 1 benefits.

(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.