Sec. 131. PREMIUM INCREASES FOR MULTIEMPLOYER PLANS
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## SEC. 131 PREMIUM INCREASES FOR MULTIEMPLOYER PLANS ###
(a)Increase in Premium Rate for Multiemployer Plans Section 4006(a)(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1306(a)(3)) is amended— ####
(1)in subparagraph (A)— #####
(A)in clause (iv), by striking “or” at the end; #####
(B)in clause (v)— ######
(i)by inserting “and before January 1, 2015,” after “December 31, 2012,”; and ######
(ii)by striking the period at the end and inserting “, or”; and #####
(C)by adding at the end the following: > > ###### “(vi) > > in the case of a multiemployer plan, for plan years beginning after December 31, 2014, $26 for each individual who is a participant in such plan during the applicable plan year.” > ; and ####
(2)by adding at the end the following: > > ##### “(M) > > For each plan year beginning in a calendar year after 2015, there shall be substituted for the dollar amount specified in clause
(vi)of subparagraph
(A)an amount equal to the greater of— > > > ###### “(i) > > the product derived by multiplying such dollar amount by the ratio of— > > > ###### “(I) > > the national average wage index (as defined in section 209(k)(1) of the Social Security Act) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to > > > ###### “(II) > > the national average wage index (as so defined) for 2013; and > > > ###### “(ii) > > such dollar amount for plan years beginning in the preceding calendar year. > > If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.” > . ###
(b)Treatment of Certain Funds Section 4005(b)(3) of such Act (29 U.S.C. 1305(b)(3)) is amended— ####
(1)by striking “Whenever” and inserting “(A) Whenever”; and ####
(2)by adding at the end the following: > > ##### “(B) > > Notwithstanding subparagraph (A)— > > > ###### “(i) > > the amounts of premiums received under section 4006 with respect to the fund to be used for basic benefits under section 4022A in a fiscal year in the period beginning with fiscal year 2016 and ending with fiscal year 2020 shall be placed in a noninterest-bearing account within such fund in the following amounts: > > > ###### “(I) > > for fiscal year 2016, $108,000,000; > > > ###### “(II) > > for fiscal year 2017, $111,000,000; > > > ###### “(III) > > for fiscal year 2018, $113,000,000; > > > ###### “(IV) > > for fiscal year 2019, $149,000,000; and > > > ###### “(V) > > for fiscal year 2020, $296,000,000; > > > ###### “(ii) > > premiums received in fiscal years specified in subclauses
(I)through
(V)of clause
(i)shall be allocated in order first to the noninterest-bearing account in the amount specified and second to any other accounts within such fund; and > > > ###### “(iii) > > financial assistance, as provided under section 4261, shall be withdrawn proportionately from the noninterest-bearing and other accounts within the fund.” > . ###
(c)Report In addition to any other report required by section 4022A(f), not later than June 1, 2016, the Pension Benefit Guaranty Corporation shall submit to Congress a report that includes— ####
(1)an analysis of whether the premium levels enacted under the amendment made by subsection
(a)are sufficient for the Pension Benefit Guaranty Corporation to meet its projected mean stochastic basic benefit guarantee obligations for the ten- and twenty-year periods beginning with 2015, including an explanation of the assumptions underlying this analysis; and ####
(2)if the analysis under paragraph
(1)concludes that the premium levels are insufficient to meet such obligations (or are in excess of the levels sufficient to meet such obligations), a proposed schedule of revised premiums sufficient to meet (but not exceed) such obligations. ###
(d)Effective Date **[**[29 U.S.C. 1306 note](/us/usc/t29/s1306)**]** The amendments made by subsection
(a)shall apply with respect to plan years beginning after December 31, 2014. # TITLE II REMEDIATION MEASURES FOR DEEPLY TROUBLED PLANS
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