Source: http://www.law.cornell.edu/uscode/text/29/1391?qt-us_code_tabs=2
Timestamp: 2014-12-26 06:01:38
Document Index: 377410737

Matched Legal Cases: ['§ 1391', 'art 1', '§ 1391', '§ 1391', '§ 4211', '§ 104', '§ 558', '§ 7891', '§ 204', '§ 558', '§ 558', 'art 4211']

29 U.S. Code § 1391 - Methods for computing withdrawal liability | LII / Legal Information Institute
U.S. Code › Title 29 › Chapter 18 › Subchapter III › Subtitle E › Part 1 › § 1391 29 U.S. Code § 1391 - Methods for computing withdrawal liability
Determination of amount of unfunded vested benefits allocable to employer withdrawn from plan The amount of the unfunded vested benefits allocable to an employer that withdraws from a plan shall be determined in accordance with subsection (b), (c), or (d) of this section.
Factors determining computation of amount of unfunded vested benefits allocable to employer withdrawn from plan (1)
Except as provided in subsections (c) and (d) of this section, the amount of unfunded vested benefits allocable to an employer that withdraws is the sum of—
An employer’s proportional share of the unamortized amount of the change in the plan’s unfunded vested benefits for plan years ending after September 25, 1980, is the sum of the employer’s proportional shares of the unamortized amount of the change in unfunded vested benefits for each plan year in which the employer has an obligation to contribute under the plan ending—
The change in a plan’s unfunded vested benefits for a plan year is the amount by which—
An employer’s proportional share of the unamortized amount of a change in unfunded vested benefits is the product of—
An employer’s proportional share of the unamortized amount of the plan’s unfunded vested benefits for the last plan year ending before September 26, 1980, is the product of—
the denominator of which is the sum of all contributions made for the most recent 5 plan years ending before September 26, 1980, by all employers—
Except as otherwise provided in regulations prescribed by the corporation, the reallocated unfunded vested benefits for a plan year is the sum of—
any amount which the plan sponsor determines in that plan year to be uncollectible for reasons arising out of cases or proceedings under title 11, or similar proceedings.
any amount which the plan sponsor determines in that plan year will not be assessed as a result of the operation of section 1389, 1399
(c)(1)(B), or 1405 of this title against an employer to whom a notice described in section 1399 of this title has been sent, and
An employer’s proportional share of the unamortized amount of the reallocated unfunded vested benefits with respect to a plan year is the product of—
Amendment of multiemployer plan for determination respecting amount of unfunded vested benefits allocable to employer withdrawn from plan; factors determining computation of amount (1)
A multiemployer plan, other than a plan which primarily covers employees in the building and construction industry, may be amended to provide that the amount of unfunded vested benefits allocable to an employer that withdraws from the plan is an amount determined under paragraph (2), (3), (4), or (5) of this subsection, rather than under subsection (b) or (d) of this section. A plan described in section 1383
(b)(1)(B)(i) of this title (relating to the building and construction industry) may be amended, to the extent provided in regulations prescribed by the corporation, to provide that the amount of the unfunded vested benefits allocable to an employer not described in section 1383
(b)(1)(A) of this title shall be determined in a manner different from that provided in subsection (b) of this section.
The amount determined under this subparagraph is the product of—
The amount of the unfunded vested benefits allocable to an employer under this paragraph is the product of—
The amount of the unfunded vested benefits allocable to an employer under this paragraph is equal to the sum of—
The value of plan assets determined under this subparagraph is the value of plan assets allocated to nonforfeitable benefits which are attributable to service with the employers who have an obligation to contribute under the plan in the plan year preceding the plan year in which the employer withdraws, which is determined by multiplying—
The share of plan assets, determined under subparagraph (C), which is allocated to the employer shall be determined in accordance with one of the following methods which shall be adopted by the plan by amendment:
by multiplying the value of plan assets determined under subparagraph (C) by a fraction—
by multiplying the value of plan assets under subparagraph (C) by a fraction—
The amount of the plan’s unfunded vested benefits for a plan year preceding the plan year in which an employer withdraws, which is not attributable to service with employers who have an obligation to contribute under the plan in the plan year preceding the plan year in which such employer withdraws, is equal to—
Fresh start option.— Notwithstanding paragraph (1), a plan may be amended to provide that the withdrawal liability method described in subsection (b) shall be applied by substituting the plan year which is specified in the amendment and for which the plan has no unfunded vested benefits for the plan year ending before September 26, 1980.
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 (1)
The method of calculating an employer’s allocable share of unfunded vested benefits set forth in subsection (c)(3) of this section shall be the method for calculating an employer’s allocable share of unfunded vested benefits under a plan to which section 404
(c) of title 26, or a continuation of such a plan, applies, unless the plan is amended to adopt another method authorized under subsection (b) or (c) of this section.
Sections 1384, 1389, 1399
(c)(1)(B), and 1405 of this title shall not apply with respect to the withdrawal of an employer from a plan described in paragraph (1) unless the plan is amended to provide that any of such sections apply.
Reduction of liability of withdrawn employer in case of transfer of liabilities to another plan incident to withdrawal or partial withdrawal of employer In the case of a transfer of liabilities to another plan incident to an employer’s withdrawal or partial withdrawal, the withdrawn employer’s liability under this part shall be reduced in an amount equal to the value, as of the end of the last plan year ending on or before the date of the withdrawal, of the transferred unfunded vested benefits.
Computations applicable in case of withdrawal following merger of multiemployer plans In the case of a withdrawal following a merger of multiemployer plans, subsection (b), (c), or (d) of this section shall be applied in accordance with regulations prescribed by the corporation; except that, if a withdrawal occurs in the first plan year beginning after a merger of multiemployer plans, the determination under this section shall be made as if each of the multiemployer plans had remained separate plans.
(Pub. L. 93–406, title IV, § 4211, as added Pub. L. 96–364, title I, § 104(2),Sept. 26, 1980, 94 Stat. 1226; amended Pub. L. 98–369, div. A, title V, § 558(b)(1)(A), (B),July 18, 1984, 98 Stat. 899; Pub. L. 101–239, title VII, § 7891(a)(1),Dec. 19, 1989, 103 Stat. 2445; Pub. L. 109–280, title II, § 204(c)(2),Aug. 17, 2006, 120 Stat. 887.)
2006—Subsec. (c)(5)(E). Pub. L. 109–280added subpar. (E).
1989—Subsec. (d)(1). Pub. L. 101–239substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.
1984—Subsec. (b). Pub. L. 98–369, § 558(b)(1)(A), (B), substituted “September 25, 1980” for “April 28, 1980” in pars. (1)(A) and (2)(A), (B)(ii)(II), and “September 26, 1980” for “April 29, 1980” in pars. (1)(B) and (2)(B)(ii)(I), (D), and in par. (3) in provisions preceding subpar. (A) and in subpar. (B)(i), (ii).
Subsec. (c)(2). Pub. L. 98–369, § 558(b)(1)(A), (B), substituted “September 25, 1980” for “April 28, 1980” in subpars. (B)(ii)(II) and (C)(i)(II) and “September 26, 1980” for “April 29, 1980” in subpar. (B)(i), (ii)(I), (II).
Amendment by Pub. L. 109–280applicable with respect to plan withdrawals occurring on or after Jan. 1, 2007, see section 204(c)(3) ofPub. L. 109–280, set out as a note under section 1390 of this title.
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.29 CFR - Labor29 CFR Part 4211 - ALLOCATING UNFUNDED VESTED BENEFITS TO WITHDRAWING EMPLOYERS