§ 1390. Nonapplicability of withdrawal liability for certain temporary contribution obligation periods; exception
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/usc/title-29/section-1390A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)An employer who withdraws from a plan in complete or partial withdrawal is not liable to the plan if the employer—
(1)first had an obligation to contribute to the plan after September 26, 1980,
(2)had an obligation to contribute to the plan for no more than the lesser of—
(A)6 consecutive plan years preceding the date on which the employer withdraws, or
(B)the number of years required for vesting under the plan,
(3)was required to make contributions to the plan for each such plan year in an amount equal to less than 2 percent of the sum of all employer contributions made to the plan for each such year, and
(4)has never avoided withdrawal liability because of the application of this section with respect to the plan.
(b)Subsection
(a)shall apply to an employer with respect to a plan only if—
(1)the plan is amended to provide that subsection
(a)applies;
(2)the plan provides, or is amended to provide, that the reduction under section 411(a)(3)(E) of title 26 applies with respect to the employees of the employer; and
(3)the ratio of the assets of the plan for the plan year preceding the first plan year for which the employer was required to contribute to the plan to the benefit payments made during that plan year was at least 8 to 1.
(Pub. L. 93–406, title IV, § 4210, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1226; amended Pub. L. 101–239, title VII, § 7891(a)(1), Dec. 19, 1989, 103 Stat. 2445; Pub. L. 109–280, title II, § 204(c)(1), Aug. 17, 2006, 120 Stat. 887.)
Connections4 cite this · traces to 3
Cited by 4 sections · top 3
statutes-at-large
- Public Law 109–280To provide economic security for all Americans, and for other purposes
- Public Law 96–364To 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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- Pub. L. 93–406, title IV, § 4210
- Pub. L. 96–364, title I, § 104(2)
- 94 Stat. 1226
- Pub. L. 101–239, title VII, § 7891(a)(1)
- 103 Stat. 2445
- Pub. L. 109–280, title II, § 204(c)(1)
- 120 Stat. 887
- Pub. L. 109–280
- Pub. L. 101–239
- Pub. L. 109–280, title II, § 204(c)(3)
- Pub. L. 99–514
- section 7891(f) of Pub. L. 101–239
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§ 1390
Nonapplicability of withdrawal liability for certain temporary contribution obligation periods; exception
Stat.×3
U.S.C.×1
Pub. L.Pub. L. 93–406, title IV, § 4210
Pub. L.Pub. L. 96–364, title I, § 104(2)
Stat.94 Stat. 1226
Pub. L.Pub. L. 101–239, title VII, § 7891(a)(1)
Stat.103 Stat. 2445
Cites 15 · showing 8Cited by 4 across 2 sources