Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_418e
Timestamp: 2020-06-03 05:26:42
Document Index: 364272564

Matched Legal Cases: ['§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418', '§ 418']

Internal Revenue Code, § 418E. Insolvent Plans
I.R.C. § 418E(a) Suspension Of Certain Benefit Payments —
I.R.C. § 418E(b) Definitions —
I.R.C. § 418E(b)(1) Insolvency —
I.R.C. § 418E(b)(2) Resource Benefit Level —
The term “resource benefit level” means the level of monthly benefits determined under subsections (c)(1) and (3) and (d)(3) to be the highest level which can be paid out of the plan's available resources.
I.R.C. § 418E(b)(3) Available Resources —
The term “available resources” means the plan's cash, marketable assets, contributions, withdrawal liability payments, and earnings, less reasonable administrative expenses and amounts owed for such plan year to the Pension Benefit Guaranty Corporation under section 4261(b)(2) of the Employee Retirement Income Security Act of 1974.
I.R.C. § 418E(b)(4) Insolvency Year —
I.R.C. § 418E(c) Benefit Payments Under Insolvent Plans
I.R.C. § 418E(c)(1) Determination Of Resource Benefit Level —
I.R.C. § 418E(c)(2) Uniformity Of The Benefit Suspension
I.R.C. § 418E(c)(2)(A) —
The suspension of benefit payments under this section shall, in accordance with regulations prescribed by the Secretary, apply in substantially uniform proportions to the benefits of all persons in pay status under the plan, except that the Secretary may prescribe rules under which benefit suspensions for different participant groups may be varied equitably to reflect variations in contribution rates and other relevant factors including differences in negotiated levels of financial support for plan benefit obligations.
I.R.C. § 418E(c)(2)(B) —
I.R.C. § 418E(c)(2)(B)(i) —
I.R.C. § 418E(c)(2)(B)(i)(I) —
I.R.C. § 418E(c)(2)(B)(i)(II) —
I.R.C. § 418E(c)(2)(B)(ii) —
I.R.C. § 418E(c)(2)(B)(ii)(I) —
I.R.C. § 418E(c)(2)(B)(ii)(II) —
I.R.C. § 418E(c)(2)(B)(iii) —
I.R.C. § 418E(c)(2)(B)(iii)(I) —
I.R.C. § 418E(c)(2)(B)(iii)(II) —
I.R.C. § 418E(c)(2)(B)(iv) —
I.R.C. § 418E(c)(3) Resource Benefit Level Below Level Of Basic Benefits —
I.R.C. § 418E(c)(4) Excess Resources
I.R.C. § 418E(c)(4)(A) In General —
I.R.C. § 418E(c)(4)(B) Excess Resources —
For purposes of this paragraph, the term “excess resources" means available resources above the amount necessary to support the resource benefit level, but no greater than the amount necessary to pay benefits for the plan year at the benefit levels under the plan.
I.R.C. § 418E(c)(5) Unpaid Benefits —
I.R.C. § 418E(c)(6) Retroactive Payments —
I.R.C. § 418E(d) Plan Sponsor Determination
I.R.C. § 418E(d)(1) Triennial Test —
I.R.C. § 418E(d)(2) Determination Of Insolvency —
I.R.C. § 418E(d)(3) Determination Of Resource Benefit Level —
I.R.C. § 418E(d)(4) —
For purposes of this subsection, the value of plan assets shall be the value of the available plan assets determined under regulations prescribed by the Secretary of the Treasury.
I.R.C. § 418E(e) Notice Requirements
I.R.C. § 418E(e)(1) Impending Insolvency —
If the plan sponsor of a plan in critical status, as described in section 432(b)(2), determines under subsection (d)(1) or (2) that the plan may become insolvent (within the meaning of subsection (b)(1)), the plan sponsor shall—
I.R.C. § 418E(e)(1)(A) —
notify the Secretary and the parties described in section 101(f)(1) of the Employee Retirement Income Security Act of 1974 of that determination, and
I.R.C. § 418E(e)(1)(B) —
inform the parties described in section 101(f)(1) of the Employee Retirement Income Security Act of 1974 that if insolvency occurs certain benefit payments will be suspended, but that basic benefits will continue to be paid.
I.R.C. § 418E(e)(2) Resource Benefit Level —
I.R.C. § 418E(e)(3) Potential Need For Financial Assistance —
I.R.C. § 418E(e)(4) Regulations —
I.R.C. § 418E(e)(5) Corporation May Prescribe Time —
I.R.C. § 418E(f) Financial Assistance
I.R.C. § 418E(f)(1) Permissive Application —
I.R.C. § 418E(f)(2) Mandatory Application —
I.R.C. § 418E(g) Financial Assistance —
I.R.C. § 418E(h) —
Subsections (a) and (c) shall not apply to a plan that, for the plan year, is operating under section 432(e)(9), regarding benefit suspensions by certain multiemployer plans in critical and declining status.
(Added by Pub. L. 96-364, title II, Sec. 202(a), Sept. 26, 1980, 94 Stat. 1282; amended by Pub. L. 109-280, title II, Sec. 213, Aug. 17, 2006, 120 Stat. 780; Pub. L. 113-235, Div. O, title I, Sec. 108(b)(2), Dec. 16, 2014; Pub. L. 115-141, Div. U, title IV, Sec. 401(a)(92)-(94), Mar. 23, 2018, 132 Stat. 348.)
2018--Sec. 418E. Pub. L. 115-141, Div. U, Sec. 401(a)(92), amended Sec. 418E by substituting ‘‘section 432(b)(2)’’ for ‘‘subsection 432(b)(2)’’ each place it appeared.
Subsec.(d)(1). Pub. L. 115-141, Div. U, Sec. 401(a)(93), amended par. (1) by substituting ‘‘section 432(b)(2),’’ for ‘‘section 432(b)(2),,’’; substituting ‘‘section 432(b)(2))’’, for ‘‘section 432(b)(2),)’’; substituting ‘‘compare the value of plan assets for that plan year with’’ for ‘‘compare the value of plan assets’’ and all that follows through ‘‘for that plan year with’’.
Subsec. (e)(1)(A). Pub. L. 115-141, Div. U, Sec. 401(a)(94), amended subpar. (A). Prior to amendment, subpar. (A) read as follows:
“notify the Secretary, the Pension Benefit Guaranty Corporation, the parties described in section 101(f)(1) of the Employee Retirement Income Security Act of 1974 of that determination, and”.
2014--Pub. L. 113-235, Div. O, Sec. 108(b)(2)(A), amended Sec. 418B by substituting “critical status, as described in section 432(b)(2),” for “reorganization” each place it appeared.
Subsec. (c)(2). Pub. L. 113-235, Div. O, Sec. 108(b)(2)(B), amended par. (2) by substituting “(A) The suspension” for “The suspension”; by striking “(within the meaning of section 418(b)(6))”; and by adding subpar. (B).
Subsec. (d)(1). Pub. L. 113-235, Div. O, Sec. 108(b)(2)(C)(i), amended par. (1) by striking “(determined in accordance with section 418B(e)(B)(ii))”.
Subsec. (d)(4). Pub. L. 113-235, Div. O, Sec. 108(b)(2)(C)(ii), added par. (4).
Subsec. (e)(1)(A). Pub. L. 113-235, Div. O, Sec. 108(b)(2)(D)(i), amended subpar. (A) by substituting “the parties described in section 101(f)(1) of the Employee Retirement Income Security Act of 1974” for “the corporation, the parties described in section 418A(a)(2), and the plan participants and beneficiaries”. Note the Sec. 418E(e)(1)(A), before amendment, did not contain the language “the corporation,”.
Subsec. (e)(1)(B). Pub. L. 113-235, Div. O, Sec. 108(b)(2)(D)(ii), amended subpar. (B) by substituting “section 101(f)(1) of the Employee Retirement Income Security Act of 1974” for “section 418A(a)(2) and the plan participants and beneficiaries”.
Subsec. (h). Pub. L. 113-235, Div. O, Sec. 108(b)(2)(E), added subsec. (h).
2006--Subsec. (d)(1). Pub. L. 109-280, Sec. 213(a), amended par. (1) by substituting “5 plan years” for “3 plan years" the second place it appeared and by adding the sentence at the end.
Amendments by Pub. L. 115-141, Div. U, Sec. 401(a)(92)-(94), effective March 23, 2018.
Amendments by Pub. L. 113-235, Div. O, Sec. 108(b)(2), effective with respect to plan years beginning after December 31, 2014.
Amendments by Sec. 213 of Pub. L. 109-280 effective with respect to the determinations made in plan years beginning after 2007.