Health Administration Responsibility Project
United States Code
TITLE 29 - LABOR
CHAPTER 18
EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
Table of Contents
(Click for ERISA to 29 USC section cross-reference)
SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS
- SUBTITLE A - GENERAL PROVISIONS (1001-1003)
- SUBTITLE B - REGULATORY PROVISIONS
- PART 1 - REPORTING AND DISCLOSURE (1021-1031)
- PART 2 - PARTICIPATION AND VESTING (1051-1061)
- PART 3 - FUNDING (1081-1086)
- PART 4 - FIDUCIARY RESPONSIBILITY (1101-1114)
- PART 5 - ADMINISTRATION AND ENFORCEMENT (1131-1147)
- PART 6 - CONTINUATION COVERAGE AND ADDITIONAL STANDARDS FOR GROUP HEALTH PLANS (1161-1169)
- PART 7 - GROUP HEALTH PLAN REQUIREMENTS
- SUBPART A - REQUIREMENTS RELATING TO PORTABILITY, ACCESS, AND RENEWABILITY (1181-1183)
- SUBPART B - OTHER REQUIREMENTS (1185-1185b)
- SUBPART C - GENERAL PROVISIONS (1191-1191c)
SUBCHAPTER II - JURISDICTION, ADMINISTRATION, ENFORCEMENT; JOINT PENSION TASK FORCE, ETC.
- SUBTITLE A - JURISDICTION, ADMINISTRATION, AND ENFORCEMENT (1201-1204)
- 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 (1221-1222)
- PART 2 - OTHER STUDIES (1231-1232)
- SUBTITLE C - ENROLLMENT OF ACTUARIES (1241-1242)
SUBCHAPTER III - PLAN TERMINATION INSURANCE
- SUBTITLE A - PENSION BENEFIT GUARANTY CORPORATION (1301-1311)
- SUBTITLE B - COVERAGE (1321-1323)
- SUBTITLE C - TERMINATIONS (1341-1350)
- SUBTITLE D - LIABILITY (1361-1371)
- SUBTITLE E - SPECIAL PROVISIONS FOR MULTIEMPLOYER PLANS
- PART 1 - EMPLOYER WITHDRAWALS (1381-1405)
- PART 2 - MERGER OR TRANSFER OF PLAN ASSETS OR LIABILITIES (1411-1415)
- PART 3 - REORGANIZATION; MINIMUM CONTRIBUTION REQUIREMENT FOR MULTIEMPLOYER PLANS (1421-1426)
- PART 4 - FINANCIAL ASSISTANCE (1431)
- PART 5 - BENEFITS AFTER TERMINATION (1441)
- PART 6 - ENFORCEMENT (1451-1453)
- SUBTITLE F - TRANSITION RULES AND EFFECTIVE DATES (1461)
SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS
SUBTITLE A - GENERAL PROVISIONS
- § 1001.
Congressional findings and declaration of policy.
- (a) Benefit plans as affecting interstate commerce and the Federal taxing power.
- (b) Protection of interstate commerce and beneficiaries by requiring disclosure and reporting, setting standards of conduct, etc., for fiduciaries.
- (c) Protection of interstate commerce, the Federal taxing power, and beneficiaries by vesting of accrued benefits, setting minimum standards of funding, requiring termination insurance.
- § 1001a. Additional Congressional findings and declaration of policy.
- (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) Repealed.
- (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.
- § 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.
- § 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.
- (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.
- (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.
- (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.
- (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.
- § 1185b.
Required coverage for reconstructive surgery following mastectomies.
- (a) In general.
- (b) Notice.
- (c) Prohibitions.
- (d) Rule of construction.
- (e) Preemption, relation to State laws.
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.
- (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
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.
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.
- (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 basic-benefit 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.
- (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.
- (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.
- (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.
- § 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.
- (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 single-employer 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.
- (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.
- (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.
- (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.