Page 357 TITLE 29—LABOR § 1001b

This plan is an interim arrangement. After the Departments have had a chance to administer ERISA

under this new plan, the Office of Management and

Budget and the Departments will jointly evaluate that

experience. Based on that evaluation, early in 1980, the

Administration will make appropriate legislative proposals to establish a long-term administrative structure for ERISA.

Each provision in this reorganization will accomplish

one or more of the purposes in Title 5 of U.S.C. 901(a).

There will be no change in expenditure or personnel

levels, although a small number of people will be transferred from the Department of Treasury to the Department of Labor.

We all recognize that the administration of ERISA

has been unduly burdensome. I am confident that this

reorganization will significantly relieve much of that

burden.

This plan is the culmination of our effort to streamline ERISA. It provides an administrative arrangement

that will work.

ERISA has been a symbol of unnecessarily complex

government regulation. I hope this new step will become equally symbolic of my Administration’s commitment to making government more effective and less

intrusive in the lives of our people.

JIMMY CARTER.

THE WHITE HOUSE, August 10, 1978.

EXECUTIVE ORDER NO. 12071

Ex. Ord. No. 12071, July 12, 1978, 43 F.R. 30259, which

established the President’s Commission on Pension

Policy and provided for its membership, functions, etc.,

was revoked by Ex. Ord. No. 12379, §1, Aug. 17, 1982, 47

F.R. 36099, set out as a note under section 14 of the Federal Advisory Committee Act in the Appendix to Title

5, Government Organization and Employees.

EX. ORD. NO. 12108. EFFECTIVE DATE OF ERISA

TRANSFERS

Ex. Ord. No. 12108, Dec. 28, 1978, 44 F.R. 1065, provided:

By the authority vested in me as President of the

United States of America by Section 109 of Reorganization Plan No. 4 of 1978 (43 F.R. 47713) [set out above], it

is hereby ordered that the provisions of Reorganization

Plan No. 4 of 1978 shall be effective on Sunday, December 31, 1978.

JIMMY CARTER.

EXECUTIVE ORDER NO. 12262

Ex. Ord. No. 12262, Jan. 7, 1981, 46 F.R. 2313, which established the Interagency Employee Benefit Council

and provided for its membership, functions, etc., was

revoked by Ex. Ord. No. 12379, §9, Aug. 17, 1982, 47 F.R.

36099, set out as a note under section 14 of the Federal

Advisory Committee Act in the Appendix to Title 5,

Government Organization and Employees.

§ 1001a. Additional Congressional findings and

declaration of policy

(a) Effects of multiemployer pension plans

The Congress finds that—

(1) multiemployer pension plans have a substantial impact on interstate commerce and

are affected with a national public interest;

(2) multiemployer pension plans have accounted for a substantial portion of the increase in private pension plan coverage over

the past three decades;

(3) the continued well-being and security of

millions of employees, retirees, and their dependents are directly affected by multiemployer pension plans; and

(4)(A) withdrawals of contributing employers

from a multiemployer pension plan frequently

result in substantially increased funding obligations for employers who continue to contribute to the plan, adversely affecting the

plan, its participants and beneficiaries, and

labor-management relations, and

(B) in a declining industry, the incidence of

employer withdrawals is higher and the adverse effects described in subparagraph (A) are

exacerbated.

(b) Modification of multiemployer plan termination insurance provisions and replacement

of program

The Congress further finds that—

(1) it is desirable to modify the current

multiemployer plan termination insurance

provisions in order to increase the likelihood

of protecting plan participants against benefit

losses; and

(2) it is desirable to replace the termination

insurance program for multiemployer pension

plans with an insolvency-based benefit protection program that will enhance the financial

soundness of such plans, place primary emphasis on plan continuation, and contain program

costs within reasonable limits.

(c) Policy

It is hereby declared to be the policy of this

Act—

(1) to foster and facilitate interstate commerce,

(2) to alleviate certain problems which tend

to discourage the maintenance and growth of

multiemployer pension plans,

(3) to provide reasonable protection for the

interests of participants and beneficiaries of

financially distressed multiemployer pension

plans, and

(4) to provide a financially self-sufficient

program for the guarantee of employee benefits under multiemployer plans.

(Pub. L. 96–364, §3, Sept. 26, 1980, 94 Stat. 1209.)

REFERENCES IN TEXT

This Act, referred to in subsec. (c), is Pub. L. 96–364,

Sept. 26, 1980, 94 Stat. 1208, known as the Multiemployer Pension Plan Amendments Act of 1980. For complete classification of this Act to the Code, see Short

Title of 1980 Amendment note set out under section 1001

of this title and Tables.

CODIFICATION

Section was enacted as part of the Multiemployer

Pension Plan Amendments Act of 1980, and not as part

of the Employee Retirement Income Security Act of

1974 which comprises this chapter.

EFFECTIVE DATE

Section effective Sept. 26, 1980, see section 1461(e)(1)

of this title.

STUDY AND REPORT RESPECTING COLLECTIVE BARGAINING FOR CONTRIBUTIONS TO, AND BENEFITS FROM,

MULTIEMPLOYER PLANS

Section 412(b) of Pub. L. 96–364 directed Secretary of

Labor to study feasibility of requiring collective bargaining on both issues of contributions to, and benefits

from, multiemployer plans, and submit a report on the

study to Congress within 3 years of Sept. 26, 1980.

§ 1001b. Findings and declaration of policy

(a) Findings

The Congress finds that—