§ 1387. Reduction or waiver of complete withdrawal liability; procedures and standards applicable

233 words·~1 min read·/usc/title-29/section-1387

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(a)The corporation shall provide by regulation for the reduction or waiver of liability for a complete withdrawal in the event that an employer who has withdrawn from a plan subsequently resumes covered operations under the plan or renews an obligation to contribute under the plan, to the extent that the corporation determines that reduction or waiver of withdrawal liability is consistent with the purposes of this chapter.

(b)The corporation shall prescribe by regulation a procedure and standards for the amendment of plans to provide alternative rules for the reduction or waiver of liability for a complete withdrawal in the event that an employer who has withdrawn from the plan subsequently resumes covered operations or renews an obligation to contribute under the plan. The rules may apply only to the extent that the rules are consistent with the purposes of this chapter.

(Pub. L. 93–406, title IV, § 4207, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1223.)

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Public Law 96–364
To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to improve retirement income security under private multiemployer pension plans by strengthening the funding requirements for those plans, to authorize plan preservation measures for financially troubl

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U.S. Code

Congressional findings and declaration of policy
§ 1001

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Pub. L. 93–406, title IV, § 4207
Pub. L. 96–364, title I, § 104(2)
94 Stat. 1223
Pub. L. 93–406

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§ 1387

Reduction or waiver of complete withdrawal liability; procedures and standards applicable

Stat.×1

U.S.C.§ 1001

Pub. L.Pub. L. 93–406, title IV, § 4207

Pub. L.Pub. L. 96–364, title I, § 104(2)

Stat.94 Stat. 1223

Pub. L.Pub. L. 93–406

Cites 5Cited by 1 across 1 source