Sec. 3. Adjustment to the PBGC maximum guaranteed benefit
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In applying title IV of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1301 et seq. ), to the pilots' pension plan described in subsection
(b)during the period beginning on the date of enactment of this Act and ending on the date that is 2 years after such date of enactment— the monthly benefits guaranteed under section 4022 of such Act ( 29 U.S.C. 1322 ), shall be calculated under subsection (b)(3)(B) of such section as though the plan termination date were the date of enactment of this Act rather than December 30, 2004; the maximum guaranteed benefit under section 4022 and 4022B of such Act ( 29 U.S.C. 1322 , 1322b), shall be the maximum such amount that would be available if the plan termination date were the date of enactment of this Act rather than December 30, 2004; and in applying sections 4022(b)(3) and 4022B(a) of such Act ( 29 U.S.C. 1322(b)(3) , 1322b(a)), with respect to plan participants who retired from the service connected to the pilots' pension plan prior to December 1, 2007, the term commencing at age 60 shall be substituted for the term commencing at age 65 . For purposes of this section, the term pilots' pension plan means the pilot's pension plan that was sponsored by United Airlines, Inc., and which was terminated under section 4048 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1348 ), on December 30, 2004.
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