29 CFR § 4044.41 - General valuation rules.

---
identifier: "/us/cfr/t29/s4044.41"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "29 CFR § 4044.41 - General valuation rules."
title_number: 29
title_name: "Labor"
section_number: "4044.41"
section_name: "General valuation rules."
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"
---


# 4044.41 General valuation rules.

(a) *Valuation of benefits*—(1) *Trusteed plans.* The plan administrator of a plan that has been or will be placed into trusteeship by the PBGC shall value plan benefits in accordance with §§ 4044.51 through 4044.58.

(2) *Non-trusteed plans.* The plan administrator of a non-trusteed plan shall value plan benefits in accordance with §§ 4044.71 through 4044.75. If a plan is unable to satisfy all benefits assigned to priority categories 1 through 4 on the distribution date, the PBGC will place it into trusteeship and the plan administrator shall re-value the benefits in accordance with §§ 4044.51 through 4044.58.

(b) *Valuation of assets.* Plan assets generally will be valued at their fair market value as defined in § 4001.2 of this chapter. As appropriate, plan assets will be valued at their fair value in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).

[61 FR 34059, July 1, 1996, as amended at 76 FR 34606, June 14, 2011; 88 FR 44052, July 11, 2023; 89 FR 48300, June 6, 2024]