Source: https://law.justia.com/codes/us/2013/title-29/chapter-18/subchapter-i/subtitle-b/part-2/section-1056/
Timestamp: 2019-01-17 15:02:16
Document Index: 595309305

Matched Legal Cases: ['§ 1056', '§ 1001', '§ 1001', '§ 1021', 'art 2', '§ 1051', 'art 2', '§ 1051', '§206', '§104', '§1898', '§7891', '§761', '§1502', '§103', '§107', '§410', '§202', '§101', '§203', '§ 1056', '§206', '§104', '§1898', '§7891', '§761', '§1502', '§103', '§107', '§410', '§202', '§101', '§203', '§401', '§228', '§231', '§203', '§101', '§108', '§107', '§202', '§761', '§7894', '§1898', '§1898', '§1898', '§410', '§761', '§9302', '§776', '§7894']

Form and payment of benefits - 29 U.S.C. § 1056 (2013) :: Title 29 - Labor :: 2013 US Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes US Code 2013 US Code Title 29 - Labor Chapter 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM (§§ 1001 - 1461) Subchapter I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS (§§ 1001 - 1191c) Subtitle B - Regulatory Provisions (§§ 1021 - 1191c) Part 2 - participation and vesting (§§ 1051 - 1061) Section 1056 - Form and payment of benefits
Part 2 - participation and vesting (§§ 1051 - 1061)
Section 1056 - Form and payment of benefits
Sec. 1056 - Form and payment of benefits
Source Credit Pub. L. 93-406, title I, §206, Sept. 2, 1974, 88 Stat. 864; Pub. L. 98-397, title I, §104(a), Aug. 23, 1984, 98 Stat. 1433; Pub. L. 99-514, title XVIII, §1898(c)(2)(B), (4)(B), (5), (6)(B), (7)(B), Oct. 22, 1986, 100 Stat. 2952-2954; Pub. L. 101-239, title VII, §§7891(a)(1), 7894(c)(8), (9)(A), Dec. 19, 1989, 103 Stat. 2445, 2449; Pub. L. 103-465, title VII, §§761(a)(9)(B)(i), 776(c)(2), Dec. 8, 1994, 108 Stat. 5033, 5048; Pub. L. 105-34, title XV, §1502(a), Aug. 5, 1997, 111 Stat. 1058; Pub. L. 109-280, title I, §§103(a), 108(a)(9), (10), formerly §107(a)(9), (10), title IV, §410(b), Aug. 17, 2006, 120 Stat. 809, 819, 935, renumbered Pub. L. 111-192, title II, §202(a), June 25, 2010, 124 Stat. 1297; Pub. L. 110-458, title I, §101(c)(1)(B)-(G), Dec. 23, 2008, 122 Stat. 5097; Pub. L. 111-192, title II, §203(a)(1), June 25, 2010, 124 Stat. 1299.
Statutes at Large References 49 Stat. 620, 967
50 Stat. 307
88 Stat. 864, 1305
98 Stat. 1433
100 Stat. 2952-2954
103 Stat. 2445, 2449
108 Stat. 5033, 5034, 5048
111 Stat. 1058
120 Stat. 809, 935
122 Stat. 5097
124 Stat. 1297, 1299
Public Law References Public Law 93-406, Public Law 93-445, Public Law 98-397, Public Law 99-514, Public Law 100-203, Public Law 101-239, Public Law 103-465, Public Law 105-34, Public Law 109-280, Public Law 110-458, Public Law 111-192
Form and payment of benefits - 29 U.S.C. § 1056 (2013)
Each pension plan shall provide that unless the participant otherwise elects, the payment of benefits under the plan to the participant shall begin not later than the 60th day after the latest of the close of the plan year in which—
(i) the term "qualified domestic relations order" means a domestic relations order—
(ii) the term "domestic relations order" means any judgment, decree, or order (including approval of a property settlement agreement) which—
(E)(i) A domestic relations order shall not be treated as failing to meet the requirements of clause (i) of subparagraph (D) solely because such order requires that payment of benefits be made to an alternate payee—
(ii) For purposes of this subparagraph, the term "earliest retirement age" means the earlier of—
(G)(i) In the case of any domestic relations order received by a plan—
(4) Paragraph (1) shall not apply to any offset of a participant's benefits provided under an employee pension benefit plan against an amount that the participant is ordered or required to pay to the plan if—
(5)(A) The survivor annuity described in paragraph (4)(C)(iii) shall be determined as if—
For purposes of paragraph (1), the term "prohibited payment" means—
Subparagraph (A) shall cease to apply with respect to any plan year, effective as of the first day of the plan year, upon payment by the plan sponsor of a contribution (in addition to any minimum required contribution under section 1083 of this title) equal to—
For purposes of this paragraph, the term "unpredictable contingent event benefit" means any benefit payable solely by reason of—
Subparagraph (A) shall cease to apply with respect to any plan year, effective as of the first day of the plan year (or if later, the effective date of the amendment), upon payment by the plan sponsor of a contribution (in addition to any minimum required contribution under section 1083 of this title) equal to—
A defined benefit plan which is a single-employer plan shall provide that, during any period in which the plan sponsor is a debtor in a case under title 11 or similar Federal or State law, the plan may not pay any prohibited payment. The preceding sentence shall not apply on or after the date on which the enrolled actuary of the plan certifies that the adjusted funding target attainment percentage of such plan is not less than 100 percent.
For purpose 2 of this paragraph, the term "prohibited payment" means—
For purposes of applying this part—
Clause (i) shall be applied to plan years beginning after 2007 and before 2011 by substituting for "100 percent" the applicable percentage determined in accordance with the following table:
In the case of a plan year The applicable
beginning in calendar year: percentage is
(D) Special rule for certain years
(I) such percentage, as determined without regard to this subparagraph, or
(II) the adjusted funding target attainment percentage for such plan for the plan year beginning after October 1, 2007, and before October 1, 2008, as determined under rules prescribed by the Secretary of the Treasury.
(II) clause (i)(II) shall apply based on the last plan year beginning before November 1, 2007, as determined under rules prescribed by the Secretary of the Treasury.
(iii) Applicable provision
For purposes of this subparagraph, the term "applicable provision" means—
(I) paragraph (3), but only for purposes of applying such paragraph to a payment which, as determined under rules prescribed by the Secretary of the Treasury, is a payment under a social security leveling option which accelerates payments under the plan before, and reduces payments after, a participant starts receiving social security benefits in order to provide substantially similar aggregate payments both before and after such benefits are received, and
(II) paragraph (4).
(11) Special rule for 2008
For purposes of this subsection, in the case of plan years beginning in 2008, the funding target attainment percentage for the preceding plan year may be determined using such methods of estimation as the Secretary of the Treasury may provide.
(Pub. L. 93–406, title I, §206, Sept. 2, 1974, 88 Stat. 864; Pub. L. 98–397, title I, §104(a), Aug. 23, 1984, 98 Stat. 1433; Pub. L. 99–514, title XVIII, §1898(c)(2)(B), (4)(B), (5), (6)(B), (7)(B), Oct. 22, 1986, 100 Stat. 2952–2954; Pub. L. 101–239, title VII, §§7891(a)(1), 7894(c)(8), (9)(A), Dec. 19, 1989, 103 Stat. 2445, 2449; Pub. L. 103–465, title VII, §§761(a)(9)(B)(i), 776(c)(2), Dec. 8, 1994, 108 Stat. 5033, 5048; Pub. L. 105–34, title XV, §1502(a), Aug. 5, 1997, 111 Stat. 1058; Pub. L. 109–280, title I, §§103(a), 108(a)(9), (10), formerly §107(a)(9), (10), title IV, §410(b), Aug. 17, 2006, 120 Stat. 809, 819, 935, renumbered Pub. L. 111–192, title II, §202(a), June 25, 2010, 124 Stat. 1297; Pub. L. 110–458, title I, §101(c)(1)(B)–(G), Dec. 23, 2008, 122 Stat. 5097; Pub. L. 111–192, title II, §203(a)(1), June 25, 2010, 124 Stat. 1299.)
The Social Security Act, referred to in subsec. (b), is act Aug. 14, 1935, ch. 531, 49 Stat. 620. Title II of the Social Security Act is classified generally to subchapter II (§401 et seq.) of chapter 7 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.
The Railroad Retirement Act of 1937, referred to in subsec. (b), is act Aug. 29, 1935, ch. 812, 49 Stat. 967, as amended generally by act June 24, 1937, ch. 382, part I, 50 Stat. 307, and which was classified principally to subchapter III (§228a et seq.) of chapter 9 of Title 45, Railroads. The Railroad Retirement Act of 1937 was amended generally and redesignated the Railroad Retirement Act of 1974 by Pub. L. 93–445, title I, Oct. 16, 1974, 88 Stat. 1305. The Railroad Retirement Act of 1974 is classified generally to subchapter IV (§231 et seq.) of chapter 9 of Title 45. For complete classification of these acts to the Code, see Tables.
2010—Subsec. (g)(9)(D). Pub. L. 111–192, §203(a)(1), added subpar. (D).
2008—Subsec. (g)(1)(B)(ii). Pub. L. 110–458, §101(c)(1)(B), substituted "an adjusted funding" for "a funding".
2006—Subsec. (e)(1). Pub. L. 109–280, §108(a)(9), formerly §107(a)(9), as renumbered by Pub. L. 111–192, §202(a), substituted "1083(j)(4)" for "1082(d)" and "1083(j)(4)(E)(i)" for "1082(e)(5)".
1994—Subsec. (e). Pub. L. 103–465, §761(a)(9)(B)(i), added subsec. (e).
1989—Subsec. (a)(1). Pub. L. 101–239, §7894(c)(8), inserted "occurs" before "the date".
1986—Subsec. (d)(3)(E)(i). Pub. L. 99–514, §1898(c)(7)(B)(iii), substituted "A" for "In the case of any payment before a participant has separated from service, a" in introductory provisions and inserted "in the case of any payment before a participant has separated from service," in subcl. (I).
Subsec. (d)(3)(E)(ii). Pub. L. 99–514, §1898(c)(7)(B)(iv), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: "For purposes of this subparagraph, the term &apos;earliest retirement age&apos; has the meaning given such term by section 1055(h)(3) of this section, except that in the case of any individual account plan, the earliest retirement age shall be the date which is 10 years before the normal retirement age."
Subsec. (d)(3)(H)(i). Pub. L. 99–514, §1898(c)(2)(B)(i), substituted "shall separately account for the amounts (hereinafter in this subparagraph referred to as the &apos;segregated amounts&apos;)" for "shall segregate in a separate account in the plan or in an escrow account the amounts".
Pub. L. 109–280, title IV, §410(c), Aug. 17, 2006, 120 Stat. 935, provided that: "The amendments made by this section [amending this section and section 1350 of this title] shall apply to distributions made after final regulations implementing subsections (c) and (d) of section 4050 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1350(c), (d)] (as added by subsection (a)), respectively, are prescribed."
Pub. L. 103–465, title VII, §761(b), Dec. 8, 1994, 108 Stat. 5034, provided that:
"(1) In general.—Except as provided in paragraph (2), the amendments made by this section [amending this section and sections 1082, 1132, and 1301 of this title] shall apply to plan years beginning after December 31, 1994.
"(2) Contributing sponsor.—The amendment made by subsection (a)(11) [amending section 1301 of this title] shall be effective as if included in the Pension Protection Act [Pub. L. 100–203, title IX, subtitle D, part II, §§9302–9346]."
Pub. L. 103–465, title VII, §776(e), Dec. 8, 1994, 108 Stat. 5048, provided that: "The provisions of this section [enacting section 1350 of this title and amending this section and sections 1303, 1305, and 1341 of this title and section 401 of Title 26, Internal Revenue Code] shall be effective with respect to distributions that occur in plan years commencing after final regulations implementing these provisions are prescribed by the Pension Benefit Guaranty Corporation." [Final implementing regulations were issued Nov. 22, 1995, effective for distributions in plan years beginning on or after Jan. 1, 1996. See 60 F.R. 61740.]
Pub. L. 101–239, title VII, §7894(c)(9)(B), Dec. 19, 1989, 103 Stat. 2449, provided that: "The amendment made by subparagraph (A) [amending this section] shall take effect as if included in section 104 of the Retirement Equity Act of 1984 [Pub. L. 98–397]."