Page 343 TITLE 29—LABOR

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(a) Effects of multiemployer pension

plans.

(b) Modification of multiemployer plan

termination insurance provisions

and replacement of program.

(c) Policy.

1001b. Findings and declaration of policy.

(a) Findings.

(b) Additional findings.

(c) Declaration of policy.

1002. Definitions.

1003. Coverage.

SUBTITLE B—REGULATORY PROVISIONS

PART 1—REPORTING AND DISCLOSURE

1021. Duty of disclosure and reporting.

(a) Summary plan description and information to be furnished to participants and beneficiaries.

(b) Reports to be filed with Secretary of

Labor.

(c) Terminal and supplementary reports.

(d) Notice of failure to meet minimum

funding standards.

(e) Notice of transfer of excess pension

assets to health benefits accounts.

(f) Information necessary to comply with

Medicare and Medicaid Coverage

Data Bank requirements.

(g) Reporting by certain arrangements.

(h) Simple retirement accounts.

(h) Cross reference.

1022. Summary plan description.

1023. Annual reports.

(a) Publication and filing.

(b) Financial statement.

(c) Information to be furnished by administrator.

(d) Actuarial statement.

(e) Statement from insurance company,

insurance service, or other similar

organizations which sell or guarantee plan benefits.

1024. Filing and furnishing of information.

(a) Filing of annual report with Secretary.

(b) Publication of summary plan description and annual report to participants and beneficiaries of plan.

(c) Statement of rights.

(d) Cross references.

1025. Reporting of participant’s benefit rights.

(a) Statement furnished by administrator to participants and beneficiaries.

(b) One-per-year limit on reports.

(c) Individual statement furnished by administrator to participants setting

forth information in administrator’s Internal Revenue registration

statement and notification of forfeitable benefits.

(d) Plans to which more than one unaffiliated employer is required to contribute; regulations.

1026. Reports made public information.

1027. Retention of records.

1028. Reliance on administrative interpretations.

1029. Forms.

(a) Information required on forms.

(b) Information not required on forms.

(c) Format and content of summary plan

description, annual report, etc., required to be furnished to plan participants and beneficiaries.

1030. Alternative methods of compliance.

1031. Repeal and effective date.

PART 2—PARTICIPATION AND VESTING

1051. Coverage.

Sec.

1052. Minimum participation standards.

1053. Minimum vesting standards.

(a) Nonforfeitability requirements.

(b) Computation of period of service.

(c) Plan amendments altering vesting

schedule.

(d) Nonforfeitable benefits after lesser

period and in greater amounts than

required.

(e) Consent for distribution; present

value; covered distributions.

1054. Benefit accrual requirements.

(a) Satisfaction of requirements by pension plans.

(b) Enumeration of plan requirements.

(c) Employee’s accrued benefits derived

from employer and employee contributions.

(d) Employee service which may be disregarded in determining employee’s

accrued benefits under plan.

(e) Opportunity to repay full amount of

distributions which have been reduced through disregarded employee service.

(f) Employer treated as maintaining a

plan.

(g) Decrease of accrued benefits through

amendment of plan.

(h) Notice of significant reduction in benefit accruals.

(i) Prohibition on benefit increases

where plan sponsor is in bankruptcy.

(j) Cross reference.

1055. Requirement of joint and survivor annuity

and preretirement survivor annuity.

(a) Required contents for applicable

plans.

(b) Applicable plans.

(c) Plans meeting requirements of section.

(d) ‘‘Qualified joint and survivor annuity’’ defined.

(e) ‘‘Qualified preretirement survivor annuity’’ defined.

(f) Marriage requirements for plan.

(g) Distribution of present value of annuity; written consent; determination

of present value.

(h) Definitions.

(i) Increased costs from providing annuity.

(j) Use of participant’s accrued benefit as

security for loan as not preventing

distribution.

(k) Spousal consent.

(l) Regulations; consultation of Secretary of the Treasury with Secretary of Labor.

1056. Form and payment of benefits.

(a) Commencement date for payment of

benefits.

(b) Decrease in plan benefits by reason of

increases in benefit levels under Social Security Act or Railroad Retirement Act of 1937.

(c) Forfeiture of accrued benefits derived

from employer contributions.

(d) Assignment or alienation of plan benefits.

(e) Limitation on distributions other

than life annuities paid by plan.

(f) Missing participants in terminated

plans.

1057. Temporary variances from certain vesting requirements.

1058. Mergers and consolidations of plans or transfers of plan assets.
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Sec.

1059. Recordkeeping and reporting requirements.

1060. Multiple employer plans.

(a) Plan maintained by more than one

employer.

(b) Maintenance of plan of predecessor

employer.

(c) Plan maintained by controlled group

of corporations.

(d) Plan of trades or businesses under

common control.

1061. Effective dates.

PART 3—FUNDING

1081. Coverage.

(a) Plans excepted from applicability of

this part.

(b) ‘‘Insurance contract plan’’ defined.

(c) Applicability of this part to terminated multiemployer plans.

(d) Financial assistance from Pension

Benefit Guaranty Corporation.

1082. Minimum funding standards.

(a) Avoidance of accumulated funding deficiency.

(b) Funding standard account.

(c) Methods.

(d) Additional funding requirements for

plans which are not multiemployer

plans.

(e) Quarterly contributions required.

(f) Imposition of lien where failure to

make required contributions.

(g) Qualified transfers to health benefit

accounts.

(h) Cross reference.

1083. Variance from minimum funding standard.

(a) Waiver of requirements in event of

business hardship.

(b) Matters considered in determining

business hardship.

(c) ‘‘Waived funding deficiency’’ defined.

(d) Special rules.

(e) Notice of filing of application for

waiver.

(f) Cross reference.

1084. Extension of amortization periods.

(a) Determinations by Secretary in

granting extension.

(b) Amendment of plan.

(c) Notice of filing of application for extension.

1085. Alternative minimum funding standard.

(a) Maintenance of account.

(b) Operation of account.

(c) Interest.

1085a. Security for waivers of minimum funding

standard and extensions of amortization period.

(a) Security may be required.

(b) Consultation with the Pension Benefit Guaranty Corporation.

(c) Exception for certain waivers and extensions.

1085b. Security required upon adoption of plan

amendment resulting in significant underfunding.

(a) In general.

(b) Form of security.

(c) Amount of security.

(d) Release of security.

(e) Notice.

(f) Definitions.

1086. Effective dates.

PART 4—FIDUCIARY RESPONSIBILITY

1101. Coverage.

(a) Scope of coverage.

(b) Securities or policies deemed to be included in plan assets.

Sec.

(c) Clarification of application of ERISA

to insurance company general accounts.

1102. Establishment of plan.

(a) Named fiduciaries.

(b) Requisite features of plan.

(c) Optional features of plan.

1103. Establishment of trust.

(a) Benefit plan assets to be held in trust;

authority of trustees.

(b) Exceptions.

(c) Assets of plan not to inure to benefit

of employer; allowable purposes of

holding plan assets.

(d) Termination of plan.

1104. Fiduciary duties.

(a) Prudent man standard of care.

(b) Indicia of ownership of assets outside

jurisdiction of district courts.

(c) Control over assets by participant or

beneficiary.

(d) Plan terminations.

1105. Liability for breach of co-fiduciary.

(a) Circumstances giving rise to liability.

(b) Assets held by two or more trustees.

(c) Allocation of fiduciary responsibility;

designated persons to carry out fiduciary responsibilities.

(d) Investment managers.

1106. Prohibited transactions.

(a) Transactions between plan and party

in interest.

(b) Transactions between plan and fiduciary.

(c) Transfer of real or personal property

to plan by party in interest.

1107. Limitation with respect to acquisition and

holding of employer securities and employer real property by certain plans.

(a) Percentage limitation.

(b) Exception.

(c) Election.

(d) Definitions.

(e) Marketable obligations.

(f) Maximum percentage of stock held by

plan; time of holding or acquisition;

necessity of legally binding contract.

1108. Exemptions from prohibited transactions.

(a) Grant of exemptions.

(b) Enumeration of transactions exempted from section 1106 prohibitions.

(c) Fiduciary benefits and compensation

not prohibited by section 1106.

(d) Owner-employees; family members;

shareholder employees.

(e) Acquisition or sale by plan of qualifying employer securities; acquisition, sale, or lease by plan of qualifying employer real property.

(f) Applicability of statutory prohibitions to mergers or transfers.

1109. Liability for breach of fiduciary duty.

1110. Exculpatory provisions; insurance.

1111. Persons prohibited from holding certain positions.

(a) Conviction or imprisonment.

(b) Penalty.

(c) Definitions.

(d) Salary of person barred from employee benefit plan office during appeal of conviction.

1112. Bonding.

(a) Requisite bonding of plan officials.

(b) Unlawful acts.

(c) Conflict of interest prohibited in procuring bonds.

(d) Exclusiveness of statutory basis for

bonding requirement for persons

handling funds or other property of

employee benefit plans.
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Sec.

(e) Regulations.

1113. Limitation of actions.

1114. Effective date.

PART 5—ADMINISTRATION AND ENFORCEMENT

1131. Criminal penalties.

1132. Civil enforcement.

(a) Persons empowered to bring a civil

action.

(b) Plans qualified under Internal Revenue Code; maintenance of actions

involving delinquent contributions.

(c) Administrator’s refusal to supply requested information; penalty for

failure to provide annual report in

complete form.

(d) Status of employee benefit plan as entity.

(e) Jurisdiction.

(f) Amount in controversy; citizenship of

parties.

(g) Attorney’s fees and costs; awards in

actions involving delinquent contributions.

(h) Service upon Secretary of Labor and

Secretary of the Treasury.

(i) Administrative assessment of civil

penalty.

(j) Direction and control of litigation by

Attorney General.

(k) Jurisdiction of actions against the

Secretary of Labor.

(l) Civil penalties on violations by fiduciaries.

(m) Penalty for improper distribution.

1133. Claims procedure.

1134. Investigative authority.

(a) Investigation and submission of reports, books, etc.

(b) Frequency of submission of books and

records.

(c) Other provisions applicable relating

to attendance of witnesses and production of books, records, etc.

1135. Regulations.

1136. Coordination and responsibility of agencies

enforcing this subchapter and related Federal laws.

(a) Coordination with other agencies and

departments.

(b) Responsibility for detecting and investigating civil and criminal violations of this subchapter and related

Federal laws.

(c) Coordination of enforcement with

States with respect to certain arrangements.

1137. Administration.

1138. Appropriations.

1139. Separability.

1140. Interference with protected rights.

1141. Coercive interference.

1142. Advisory Council on Employee Welfare and

Pension Benefit Plans.

(a) Establishment; membership; terms;

appointment and reappointment;

vacancies; quorum.

(b) Duties and functions.

(c) Executive secretary; secretarial and

clerical services.

(d) Compensation.

(e) Termination.

1143. Research, studies, and reports.

(a) Authorization to undertake research

and surveys.

(b) Submission of annual report to Congress; contents.

(c) Cooperation with Congress.

1143a. Studies by Comptroller General.

Sec.

(1) In general.

(2) Access to books, documents, etc.

(3) Definitions.

(4) Effective date.

1144. Other laws.

(a) Supersedure; effective date.

(b) Construction and application.

(c) Definitions.

(d) Alteration, amendment, modification,

invalidation, impairment, or supersedure of any law of the United

States prohibited.

1145. Delinquent contributions.

1146. Outreach to promote retirement income savings.

(a) In general.

(b) Methods.

(c) Information to be made available.

(d) Establishment of site on Internet.

(e) Coordination.

1147. National Summit on Retirement Savings.

(a) Authority to call Summit.

(b) Planning and direction.

(c) Purpose of National Summit.

(d) Scope of National Summit.

(e) National Summit participants.

(f) National Summit administration.

(g) Report.

(h) ‘‘State’’ defined.

(i) Authorization of appropriations.

(j) Financial obligation for fiscal year

1998.

(k) Contracts.

PART 6—CONTINUATION COVERAGE AND ADDITIONAL

STANDARDS FOR GROUP HEALTH PLANS

1161. Plans must provide continuation coverage to

certain individuals.

(a) In general.

(b) Exception for certain plans.

1162. Continuation coverage.

1163. Qualifying event.

1164. Applicable premium.

1165. Election

1166. Notice requirements.

(a) In general.

(b) Alternative means of compliance with

requirements for notification of

multiemployer plans by employers.

(c) Rules relating to notification of

qualified beneficiaries by plan administrator.

1167. Definitions and special rules.

1168. Regulations.

1169. Additional standards for group health plans.

(a) Group health plan coverage pursuant

to medical child support orders.

(b) Rights of States with respect to group

health plans where participants or

beneficiaries thereunder are eligible

for medicaid benefits.

(c) Group health plan coverage of dependent children in cases of adoption.

(d) Continued coverage of costs of a pediatric vaccine under group health

plans.

(e) Regulations.

PART 7—GROUP HEALTH PLAN REQUIREMENTS

Subpart A—Requirements Relating to Portability,

Access, and Renewability

1181. Increased portability through limitation on

preexisting condition exclusions.

(a) Limitation on preexisting condition

exclusion period; crediting for periods of previous coverage.

(b) Definitions.

(c) Rules relating to crediting previous

coverage.
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Sec.

(d) Exceptions.

(e) Certifications and disclosure of coverage.

(f) Special enrollment periods.

(g) Use of affiliation period by HMOs as

alternative to preexisting condition

exclusion.

1182. Prohibiting discrimination against individual

participants and beneficiaries based on

health status.

(a) In eligibility to enroll.

(b) In premium contributions.

1183. Guaranteed renewability in multiemployer

plans and multiple employer welfare arrangements.

Subpart B—Other Requirements

1185. Standards relating to benefits for mothers

and newborns.

(a) Requirements for minimum hospital

stay following birth.

(b) Prohibitions.

(c) Rules of construction.

(d) Notice under group health plan.

(e) Level and type of reimbursements.

(f) Preemption; exception for health insurance coverage in certain States.

1185a. Parity in application of certain limits to

mental health benefits.

(a) In general.

(b) Construction.

(c) Exemptions.

(d) Separate application to each option

offered.

(e) Definitions.

(f) Sunset.

Subpart C—General Provisions

1191. Preemption; State flexibility; construction.

(a) Continued applicability of State law

with respect to health insurance issuers.

(b) Special rules in case of portability requirements.

(c) Rules of construction.

(d) Definitions.

1191a. Special rules relating to group health plans.

(a) General exception for certain small

group health plans.

(b) Exception for certain benefits.

(c) Exception for certain benefits if certain conditions met.

(d) Treatment of partnerships.

1191b. Definitions.

(a) Group health plan.

(b) Definitions relating to health insurance.

(c) Excepted benefits.

(d) Other definitions.

1191c. Regulations.

SUBCHAPTER II—JURISDICTION, ADMINISTRATION, ENFORCEMENT; JOINT PENSION TASK

FORCE, ETC.

SUBTITLE A—JURISDICTION, ADMINISTRATION, AND

ENFORCEMENT

1201. Procedures in connection with the issuance of

certain determination letters by the Secretary of the Treasury covering qualifications under Internal Revenue Code.

(a) Additional material required of applicants.

(b) Opportunity to comment on application.

(c) Intervention by Pension Benefit

Guaranty Corporation or Secretary

of Labor into declaratory judgment

action under section 7476 of title 26,

action by Corporation authorized.

Sec.

(d) Notification and information by Secretary of the Treasury to Secretary

of Labor upon issuance by Secretary of the Treasury of a determination letter to applicant.

(e) Effective date.

1202. Procedures with respect to continued compliance with Internal Revenue requirements

relating to participation, vesting, and funding standards.

(a) Notification by Secretary of the

Treasury to Secretary of Labor of

issuance of a preliminary notice of

intent to disqualify or of commencement of proceedings to determine satisfaction of requirements.

(b) Notification to Secretary of Labor before Secretary of the Treasury sends

notice of deficiency under section

4971 of title 26; waiver of imposition

of tax; requests for investigation;

consultation.

(c) Extended application of regulations

prescribed by Secretary of the

Treasury relating to minimum participation standards, minimum

vesting standards, and minimum

funding standards.

(d) Opportunity afforded Secretary of the

Treasury to intervene in cases involving construction or application

of minimum standards; review of

briefs filed by Pension Benefit

Guaranty Corporation or Secretary

of Labor.

(e) Consultative requirements respecting

promulgation of proposed or final

regulations.

1203. Procedures in connection with prohibited

transactions.

(a) Notification to Secretary of Labor;

opportunity to comment on imposition of tax under section 4975 of

title 26; waiver; requests for investigations.

(b) Consultation.

(c) Transmission of information to Secretary of the Treasury.

1204. Coordination between the Department of the

Treasury and the Department of Labor.

SUBTITLE B—JOINT PENSION, PROFIT-SHARING, AND EMPLOYEE STOCK OWNERSHIP PLAN TASK FORCE; STUDIES

PART 1—JOINT PENSION, PROFIT-SHARING, AND EMPLOYEE

STOCK OWNERSHIP PLAN TASK FORCE

1221. Establishment.

1222. Duties.

PART 2—OTHER STUDIES

1231. Congressional study.

1232. Protection for employees under Federal procurement, construction, and research contracts and grants.

(a) Study and investigation by Secretary

of Labor.

(b) Consultation.

(c) Regulations.

(d) Congressional review of regulations;

resolution of disapproval.

SUBTITLE C—ENROLLMENT OF ACTUARIES

1241. Joint Board for the Enrollment of Actuaries.

1242. Enrollment by Board; standards and qualifications; suspension or termination of enrollment.
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Sec.

SUBCHAPTER III—PLAN TERMINATION

INSURANCE

SUBTITLE A—PENSION BENEFIT GUARANTY

CORPORATION

1301. Definitions.

1302. Pension Benefit Guaranty Corporation.

(a) Establishment within Department of

Labor.

(b) Powers of corporation.

(c) Omitted.

(d) Board of directors; compensation; reimbursement for expenses.

(e) Meetings.

(f) Adoption of bylaws; amendment, alteration; publication in the Federal

Register.

(g) Exemption from taxation.

(h) Advisory committee to corporation.

1303. Operation of corporation.

(a) Investigatory authority; audit of statistically significant number of terminating plans.

(b) Discovery powers vested in board

members or officers designated by

the chairman.

(c) Contempt.

(d) Cooperation with other governmental

agencies.

(e) Civil actions by corporation; jurisdiction; process; expeditious handling

of case; costs; limitation on actions.

(f) Civil actions against corporation; appropriate court; award of costs and

expenses; limitation on actions; jurisdiction; removal of actions.

1304. Repealed.

1305. Pension benefit guaranty funds.

(a) Establishment of four revolving funds

on books of Treasury of the United

States.

(b) Credits to funds; availability of funds;

investment of moneys in excess of

current needs.

(c) Authority to issue notes or other obligations; purchase by Secretary of

the Treasury as public debt transaction.

(d) Establishment of fifth fund; purpose,

availability, etc.

(e) Establishment of sixth fund; purpose,

availability, etc.

(f) Deposit of premiums into separate revolving fund.

(g) Other use of funds; deposits of repayments.

(h) Voting by corporation of stock paid

as liability.

1306. Premium rates.

(a) Schedules for premium rates and

bases for application; establishment, coverage, etc.

(b) Revised schedule; Congressional procedures applicable.

(c) Rates for plans for basic benefits.

1307. Payment of premiums.

(a) Premiums payable when due; accrual;

waiver or reduction.

(b) Late payment charge; waiver.

(c) Civil action to recover premium penalty and interest.

(d) Basic benefits guarantee not stopped

by designated payor’s failure to pay

premiums when due.

(e) Designated payor.

1308. Annual report by the corporation.

1309. Portability assistance.

1310. Authority to require certain information.

(a) Information required.

Sec.

(b) Persons required to provide information.

(c) Information exempt from disclosure

requirements.

1311. Notice to participants.

(a) In general.

(b) Exception.

SUBTITLE B—COVERAGE

1321. Coverage.

(a) Plans covered.

(b) Plans not covered.

(c) Definitions.

1322. Single-employer plan benefits guaranteed.

(a) Nonforfeitable benefits.

(b) Exceptions.

(c) Payment by corporation to participants and beneficiaries of recovery

percentage of outstanding amount

of benefit liabilities.

(d) Authorization to guarantee other

classes of benefits.

(e) Nonforfeitability of preretirement

survivor annuity.

(f) Effective date of plan amendments.

1322a. Multiemployer plan benefits guaranteed.

(a) Benefits of covered plans subject to

guarantee.

(b) Benefits or benefit increases not eligible for guarantee.

(c) Determinations respecting amount of

guarantee.

(d) Amount of guarantee of reduced benefit.

(e) Ineligibility of benefits for guarantee.

(f) Study, report, etc., respecting premium increase in existing basicbenefit guarantee levels; Congressional procedures applicable for revision of schedules.

(g) Guarantee of payment of other classes of benefits and establishment of

terms and conditions of guarantee;

promulgation of regulations for establishment of supplemental program to guarantee benefits otherwise ineligible; status of benefits;

applicability of revised schedule of

premiums.

(h) Applicability to nonforfeitable benefits accrued as of July 30, 1980; manner and extent of guarantee.

1322b. Aggregate limit on benefits guaranteed; criteria applicable.

1323. Plan fiduciaries.

SUBTITLE C—TERMINATIONS

1341. Termination of single-employer plans.

(a) General rules governing single-employer plan terminations.

(b) Standard termination of single-employer plans.

(c) Distress termination of single-employer plans.

(d) Sufficiency.

(e) Limitation on the conversion of a defined benefit plan to a defined contribution plan.

1341a. Termination of multiemployer plans.

(a) Determinative factors.

(b) Date of termination.

(c) Duties of plan sponsor of amended

plan.

(d) Duties of plan sponsor of nonoperative plan.

(e) Amount of contribution of employer

under amended plan for each plan

year subsequent to plan termination date.
TITLE 29—LABOR Page 348

Sec.

(f) Payment of benefits; reporting requirements for terminated plans

and rules and standards for administration of such plans.

1342. Institution of termination proceedings by the

corporation.

(a) Authority to institute proceedings to

terminate a plan.

(b) Appointment of trustee.

(c) Adjudication that plan must be terminated.

(d) Powers of trustee.

(e) Filing of application notwithstanding

pendency of other proceedings.

(f) Exclusive jurisdiction; stay of other

proceedings.

(g) Venue.

(h) Compensation of trustee and professional service personnel appointed

or retained by trustee.

1343. Reportable events.

(a) Notification that event has occurred.

(b) Notification that event is about to

occur.

(c) Enumeration of reportable events.

(d) Notification to corporation by Secretary of the Treasury.

(e) Notification to corporation by Secretary of Labor.

(f) Disclosure exemption.

1344. Allocation of assets.

(a) Order of priority of participants and

beneficiaries.

(b) Adjustment of allocations; reallocations; mandatory contributions; establishment of subclasses and categories.

(c) Increase or decrease in value of assets.

(d) Distribution of residual assets; restrictions on reversions pursuant to

recently amended plans; assets attributable to employee contributions; calculation of remaining assets.

1345. Recapture of payments.

(a) Authorization to recover benefits.

(b) Recoverable amount.

(c) Payments made on or after death or

disability of participant; waiver of

recovery in case of hardship.

1346. Reports to trustee.

1347. Restoration of plans.

1348. Termination date.

1349. Repealed.

1350. Missing participants.

(a) General rule.

(b) Definitions.

(c) Regulatory authority.

SUBTITLE D—LIABILITY

1361. Amounts payable by corporation.

1362. Liability for termination of single-employer

plans under a distress termination or a termination by corporation.

(a) In general.

(b) Liability to corporation.

(c) Liability to section 1342 trustee.

(d) Definitions.

(e) Treatment of substantial cessation of

operations.

1363. Liability of substantial employer for withdrawal from single-employer plans under

multiple controlled groups.

(a) Single-employer plans with two or

more contributing sponsors.

(b) Computation of liability.

(c) Bond in lieu of payment of liability;

5-year termination period.

Sec.

(d) Alternate appropriate procedure.

(e) Indemnity agreement.

1364. Liability on termination of single-employer

plans under multiple controlled groups.

1365. Annual report of plan administrator.

1366. Annual notification to substantial employers.

1367. Recovery of liability for plan termination.

1368. Lien for liability.

(a) Creation of lien.

(b) Term of lien.

(c) Priority.

(d) Civil action; limitation period.

(e) Release or subordination.

(f) Definitions.

1369. Treatment of transactions to evade liability;

effect of corporate reorganization.

(a) Treatment of transactions to evade liability.

(b) Effect of corporate reorganization.

1370. Enforcement authority relating to terminations of single-employer plans.

(a) In general.

(b) Status of plan as party to action and

with respect to legal process.

(c) Jurisdiction and venue.

(d) Right of corporation to intervene.

(e) Awards of costs and expenses.

(f) Limitation on actions.

1371. Penalty for failure to timely provide required

information.

SUBTITLE E—SPECIAL PROVISIONS FOR MULTIEMPLOYER

PLANS

PART 1—EMPLOYER WITHDRAWALS

1381. Withdrawal liability established; criteria and

definitions.

1382. Determination and collection of liability; notification of employer.

1383. Complete withdrawal.

(a) Determinative factors.

(b) Building and construction industry.

(c) Entertainment industry.

(d) Other determinative factors.

(e) Date of complete withdrawal.

(f) Special liability withdrawal rules for

industries other than construction

and entertainment industries; procedures applicable to amend plans.

1384. Sale of assets.

(a) Complete or partial withdrawal not

occurring as a result of sale and

subsequent cessation of covered operations or cessation of obligation

to contribute to covered operations;

continuation of liability of seller.

(b) Liability of purchaser.

(c) Variances or exemptions from continuation of liability of seller; procedures applicable.

(d) ‘‘Unrelated party’’ defined.

1385. Partial withdrawals.

(a) Determinative factors.

(b) Criteria applicable.

(c) Retail food industry.

(d) Continuation of liability of employer

for partial withdrawal under

amended plan.

1386. Adjustment for partial withdrawal; determination of amount; reduction for partial

withdrawal liability; procedures applicable.

1387. Reduction or waiver of complete withdrawal

liability; procedures and standards applicable.

1388. Reduction of partial withdrawal liability.

(a) Obligation of employer for payments

for partial withdrawal for plan

years beginning after the second

consecutive plan year following the

partial withdrawal year; criteria applicable; furnishing of bond in lieu

of payment of partial withdrawal liability.
Page 349 TITLE 29—LABOR

Sec.

(b) Obligation of employer for payments

for partial withdrawal for plan

years beginning after the second

consecutive plan year; other criteria applicable.

(c) Pro rata reduction of amount of partial withdrawal liability payment of

employer for plan year following

partial withdrawal year.

(d) Building and construction industry;

entertainment industry.

(e) Reduction or elimination of partial

withdrawal liability under any conditions; criteria; procedures applicable.

1389. De minimis rule.

(a) Reduction of unfunded vested benefits

allocable to employer withdrawn

from plan.

(b) Amendment of plan for reduction of

amount of unfunded vested benefits

allocable to employer withdrawn

from plan.

(c) Nonapplicability.

(d) Presumption of employer withdrawal

from plan pursuant to agreement or

arrangement applicable in action or

proceeding to determine or collect

withdrawal liability.

1390. Nonapplicability of withdrawal liability for

certain temporary contribution obligation

periods; exception.

1391. Methods for computing withdrawal liability.

(a) Determination of amount of unfunded

vested benefits allocable to employer withdrawn from plan.

(b) Factors determining computation of

amount of unfunded vested benefits

allocable to employer withdrawn

from plan.

(c) Amendment of multiemployer plan

for determination respecting

amount of unfunded vested benefits

allocable to employer withdrawn

from plan; factors determining computation of amount.

(d) Method of calculating allocable share

of employer of unfunded vested benefits set forth in subsection (c)(3) of

this section; applicability of certain

statutory provisions.

(e) Reduction of liability of withdrawn

employer in case of transfer of liabilities to another plan incident to

withdrawal or partial withdrawal of

employer.

(f) Computations applicable in case of

withdrawal following merger of

multiemployer plans.

1392. Obligation to contribute.

(a) ‘‘Obligation to contribute’’ defined.

(b) Payments of withdrawal liability not

considered contributions.

(c) Transactions to evade or avoid liability.

1393. Actuarial assumptions.

(a) Use by plan actuary in determining

unfunded vested benefits of a plan

for computing withdrawal liability

of employer.

(b) Factors determinative of unfunded

vested benefits of plan for computing withdrawal liability of employer.

(c) Determination of amount of unfunded

vested benefits.

1394. Application of plan amendments; exception.

1395. Plan notification to corporation of potentially significant withdrawals.

Sec.

1396. Special rules for plans under section 404(c) of

title 26.

(a) Amount of withdrawal liability; determinative factors.

(b) Covered plans.

(c) Amount of liability of employer; ‘‘a

year of signatory service’’ defined.

1397. Application of part in case of certain pre-1980

withdrawals; adjustment of covered plan.

1398. Withdrawal not to occur because of change in

business form or suspension of contributions during labor dispute.

1399. Notice, collection, etc., of withdrawal liability.

(a) Furnishing of information by employer to plan sponsor.

(b) Notification, demand for payment,

and review upon complete or partial

withdrawal by employer.

(c) Payment requirements; amount, etc.

(d) Applicability of statutory prohibitions.

1400. Approval of amendments.

(a) Amendment of covered multiemployer plan; procedures applicable.

(b) Amendment respecting methods for

computing withdrawal liability.

(c) Criteria for disapproval by corporation.

1401. Resolution of disputes.

(a) Arbitration proceedings; matters subject to arbitration, procedures applicable, etc.

(b) Alternative collection proceedings;

civil action subsequent to arbitration award; conduct of arbitration

proceedings.

(c) Presumption respecting finding of

fact by arbitrator.

(d) Payments by employer prior and subsequent to determination by arbitrator; adjustments; failure of employer to make payments.

(e) Furnishing of information by plan

sponsor to employer respecting

computation of withdrawal liability

of employer; fees.

1402. Reimbursements for uncollectible withdrawal

liability.

(a) Required supplemental program to reimburse for payments due from employers uncollectible as a result of

employer involvement in bankruptcy case or proceedings; program

participation, premiums, etc.

(b) Discretionary supplemental program

to reimburse for payments due from

employers uncollectible for other

appropriate reasons.

(c) Payment of cost of program.

(d) Terms and conditions, limitations,

etc., of supplemental program.

(e) Arrangements by corporation with

private insurers for implementation

of program; election of coverage by

participating plans with private insurers.

1403. Withdrawal liability payment fund.

(a) Establishment of or participation in

fund by plan sponsors.

(b) Definitions.

(c) Payments to plan; amount, criteria,

etc.

(d) Application of payments by plan.

(e) Subrogation of fund to rights of plan.

(f) Discharge of rights of fiduciary of

fund; standards applicable, etc.
TITLE 29—LABOR Page 350

Sec.

(g) Prohibition on payments from fund to

plan where certain labor negotiations involve employer withdrawn

or partially withdrawn from plan

and continuity of labor organization representing employees continues.

(h) Purchase of insurance by employer.

(i) Promulgation of regulations for establishment and maintenance of

fund.

1404. Alternative method of withdrawal liability

payments.

1405. Limitation on withdrawal liability.

(a) Unfunded vested benefits allocable to

employer in bona fide sale of assets

of employer in arms-length transaction to unrelated party; maximum amount; determinative factors.

(b) Unfunded vested benefits allocable to

insolvent employer undergoing liquidation or dissolution; maximum

amount; determinative factors.

(c) Property not subject to enforcement

of liability; precondition.

(d) Insolvency of employer; liquidation or

dissolution value of employer.

(e) One or more withdrawals of employer

attributable to same sale, liquidation, or dissolution.

PART 2—MERGER OR TRANSFER OF PLAN ASSETS OR

LIABILITIES

1411. Mergers and transfers between multiemployer

plans.

(a) Authority of plan sponsor.

(b) Criteria.

(c) Actions not deemed violation of section 1106(a) or (b)(2) of this title.

(d) Nature of plan to which liabilities are

transferred.

1412. Transfers between a multiemployer plan and

a single-employer plan.

(a) General authority.

(b) Accrued benefit of participant or beneficiary not lower immediately

after effective date of transfer or

merger.

(c) Liability of multiemployer plan to

corporation where single-employer

plan terminates within 60 months

after effective date of transfer;

amount of liability, exemption, etc.

(d) Guarantee of benefits under singleemployer plan.

(e) Transfer of liabilities by multiemployer plan to single-employer plan.

(f) Additional requirements by corporation for protection of interests of

plan participants, beneficiaries and

corporation; approval by corporation of transfer of assets or liabilities to single-employer plan from

plan in reorganization; covered

transfers in connection with termination.

1413. Partition.

(a) Authority of corporation.

(b) Authority of plan sponsor upon application to corporation for partition

order; procedures applicable to corporation.

(c) Authority of corporation notwithstanding pendency of partition proceeding.

(d) Scope of partition order.

(e) Nature of plan created by partition.

Sec.

(f) Authority of corporation to obtain decree partitioning plan and appointing trustee for terminated portion

of partitioned plan.

1414. Asset transfer rules.

(a) Applicability and scope.

(b) Exemption of de minimis transfers.

(c) Written reciprocity agreements.

1415. Transfers pursuant to change in bargaining

representative.

(a) Authority to transfer from old plan to

new plan pursuant to employee participation in another multiemployer plan after certified change of

representative.

(b) Notification by employer of plan

sponsor of old plan; notification by

plan sponsor of old plan of employer

and plan sponsor of new plan; appeal

by new plan to prevent transfer; further proceedings.

(c) Reduction of amount of withdrawal

liability of employer upon transfer

of appropriate amount of assets and

liabilities by plan sponsor of old

plan to new plan.

(d) Escrow payments by employer upon

complete or partial withdrawal and

prior to transfer.

(e) Prohibition on transfer of assets to

new plan by plan sponsor of old

plan; exemptions.

(f) Agreement between plan sponsors of

old plan and new plan to transfer in

compliance with other statutory

provisions; reduction of withdrawal

liability of employer from old plan;

amount of withdrawal liability of

employer to new plan.

(g) Definitions.

PART 3—REORGANIZATION; MINIMUM CONTRIBUTION

REQUIREMENT FOR MULTIEMPLOYER PLANS

1421. Reorganization status.

(a) Reorganization index of plan for plan

year greater than zero.

(b) Determination of reorganization

index of plan for plan year; applicable factors, definitions, etc.

(c) Payment of benefits to participants.

(d) Terminated multiemployer plans.

1422. Notice of reorganization and funding requirements.

1423. Minimum contribution requirement.

(a) Maintenance of funding standard account; amount of accumulated funding deficiency.

(b) Determination of amount; applicable

factors.

(c) Current contribution base; valuation

contribution base.

(d) Maximum amount; amount of funding

standard requirement; applicability

to plan amendments increasing benefits.

(e) Adjustment of vested benefits charge.

(f) Waiver of accumulated funding deficiency.

(g) Statutory methods applicable for determinations.

1424. Overburden credit against minimum contribution requirement.

(a) Applicability of overburden credit to

determinations.

(b) Determination of overburden status

of plan.

(c) Amount of overburden credit.

(d) Amount of overburden factor.

(e) Definitions; determinative factors.
Page 351 TITLE 29—LABOR § 1001

Sec.

(f) Eligibility of plan for overburden

credit for plan year.

(g) Overburden credit where 2 or more

multiemployer plans merge.

1425. Adjustments in accrued benefits.

(a) Amendment of multiemployer plan in

reorganization to reduce or eliminate accrued benefits attributable

to employer contributions ineligible

for guarantee of corporation; adjustment of vested benefits charge

to reflect plan amendment.

(b) Reduction of accrued benefits; notice

by plan sponsors to plan participants and beneficiaries.

(c) Recoupment by plan of excess benefit

payment.

(d) Amendment of plan to increase or restore accrued benefits previously reduced or rate of future benefit accruals; conditions, applicable factors, etc.

(e) ‘‘Inactive participant’’ defined.

(f) Promulgation of rules; contents, etc.

1426. Insolvent plans.

(a) Suspension of payments of benefits;

conditions, amount, etc.

(b) Determination of insolvency status

for plan year; definitions.

(c) Determination by plan sponsor of

plan in reorganization of resource

benefit level of plan for each insolvency year; uniform application of

suspension of benefits; adjustments

of benefit payments.

(d) Applicability and determinations respecting plan assets; time for determinations of resource benefit level

and level of basic benefits.

(e) Notice, etc., requirements of plan

sponsor of plan in reorganization regarding insolvency and resource

benefit levels.

(f) Financial assistance from corporation; conditions and criteria applicable.

PART 4—FINANCIAL ASSISTANCE

1431. Assistance by corporation.

(a) Authority; procedure applicable;

amount.

(b) Conditions; repayment terms.

(c) Assistance pending final determination of application.

PART 5—BENEFITS AFTER TERMINATION

1441. Benefits under certain terminated plans.

(a) Amendment of plan by plan sponsor

to reduce benefits, and suspension

of benefit payments.

(b) Determinations respecting value of

nonforfeitable benefits under terminated plan and value of assets of

plan.

(c) Amendment of plan by plan sponsor

to reduce benefits for conservation

of assets; factors applicable.

(d) Suspension of benefit payments; determinative factors; powers and duties of plan sponsor; retroactive

benefit payments.

PART 6—ENFORCEMENT

1451. Civil actions.

(a) Persons entitled to maintain actions.

(b) Failure of employer to make withdrawal liability payment within

prescribed time.

Sec.

(c) Jurisdiction of Federal and State

courts.

(d) Venue and service of process.

(e) Costs and expenses.

(f) Time limitations.

(g) Service of complaint on corporation;

intervention by corporation.

1452. Penalty for failure to provide notice.

1453. Election of plan status.

(a) Authority, time, and criteria.

(b) Requirements.

(c) Effective date.

SUBTITLE F—TRANSITION RULES AND EFFECTIVE DATES

1461. Effective date; special rules.

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred to in section 441 of this title;

title 7 section 1a; title 15 sections 77b, 631b, 662; title 18

section 1027; title 20 section 1085; title 26 sections 412,

414; title 26 section 404; title 31 section 9502; title 42 sections 1395w–22, 1396s, 3035r; title 45 section 743.

SUBCHAPTER I—PROTECTION OF

EMPLOYEE BENEFIT RIGHTS

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in sections 1201, 1202,

1203, 1343 of this title; title 18 sections 664, 1027, 1954;

title 19 sections 2345, 2373; title 26 section 6103.

SUBTITLE A—GENERAL PROVISIONS

§ 1001. Congressional findings and declaration of

policy

(a) Benefit plans as affecting interstate commerce and the Federal taxing power

The Congress finds that the growth in size,

scope, and numbers of employee benefit plans in

recent years has been rapid and substantial;

that the operational scope and economic impact

of such plans is increasingly interstate; that the

continued well-being and security of millions of

employees and their dependents are directly affected by these plans; that they are affected

with a national public interest; that they have

become an important factor affecting the stability of employment and the successful development of industrial relations; that they have become an important factor in commerce because

of the interstate character of their activities,

and of the activities of their participants, and

the employers, employee organizations, and

other entities by which they are established or

maintained; that a large volume of the activities of such plans are carried on by means of the

mails and instrumentalities of interstate commerce; that owing to the lack of employee information and adequate safeguards concerning

their operation, it is desirable in the interests of

employees and their beneficiaries, and to provide for the general welfare and the free flow of

commerce, that disclosure be made and safeguards be provided with respect to the establishment, operation, and administration of such

plans; that they substantially affect the revenues of the United States because they are afforded preferential Federal tax treatment; that

despite the enormous growth in such plans many

employees with long years of employment are

losing anticipated retirement benefits owing to

the lack of vesting provisions in such plans; that