Source: https://www.law.cornell.edu/uscode/text/29/1389
Timestamp: 2017-02-28 06:25:50
Document Index: 514812787

Matched Legal Cases: ['§ 1389', 'art 1', '§ 1389', '§ 1389', '§\u202f4209', '§\u202f104']

29 U.S. Code § 1389 - De minimis rule | US Law | LII / Legal Information Institute
U.S. Code › Title 29 › Chapter 18 › Subchapter III › Subtitle E › Part 1 › § 1389 29 U.S. Code § 1389 - De minimis rule
(a) Reduction of unfunded vested benefits allocable to employer withdrawn from planExcept in the case of a plan amended under subsection (b), the amount of the unfunded vested benefits allocable under section 1391 of this title to an employer who withdraws from a plan shall be reduced by the smaller of—
¾ of 1 percent of the plan’s unfunded vested obligations (determined as of the end of the plan year ending before the date of withdrawal), or
(b) Amendment of plan for reduction of amount of unfunded vested benefits allocable to employer withdrawn from planA plan may be amended to provide for the reduction of the amount determined under section 1391 of this title by not more than the greater of—
the amount determined under subsection (a), or
the amount determined under subsection (a)(1), or
(c) NonapplicabilityThis section does not apply—
to an employer who withdraws in a plan year in which substantially all employers withdraw from the plan, or
in any case in which substantially all employers withdraw from the plan during a period of one or more plan years pursuant to an agreement or arrangement to withdraw, to an employer who withdraws pursuant to such agreement or arrangement.
(Pub. L. 93–406, title IV, § 4209, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1225.)