§ 1397. Application of part in case of certain pre-1980 withdrawals; adjustment of covered plan

245 words·~1 min read·/usc/title-29/section-1397

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(a)For the purpose of determining the amount of unfunded vested benefits allocable to an employer for a partial or complete withdrawal from a plan which occurs after September 25, 1980, and for the purpose of determining whether there has been a partial withdrawal after such date, the amount of contributions, and the number of contribution base units, of such employer properly allocable—

(1)to work performed under a collective bargaining agreement for which there was a permanent cessation of the obligation to contribute before September 26, 1980, or

(2)to work performed at a facility at which all covered operations permanently ceased before September 26, 1980, or for which there was a permanent cessation of the obligation to contribute before that date,

shall not be taken into account.

(b)A plan may, in a manner not inconsistent with regulations, which shall be prescribed by the corporation, adjust the amount of unfunded vested benefits allocable to other employers under a plan maintained by an employer described in subsection (a).

(Pub. L. 93–406, title IV, § 4217, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1235; amended Pub. L. 98–369, div. A, title V, § 558(b)(1)(A), (B), July 18, 1984, 98 Stat. 899.)

Connections2 cite this

Cited by 2 sections

U.S. Code

§ 1381
Withdrawal liability established; criteria and definitions

statutes-at-large

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

6 references not yet in our index

Pub. L. 93–406, title IV, § 4217
Pub. L. 96–364, title I, § 104(2)
94 Stat. 1235
Pub. L. 98–369, div. A, title V, § 558(b)(1)(A)
98 Stat. 899
Pub. L. 98–369, § 558(b)(1)(A)

Citation graph

cites case law

§ 1397

Application of part in case of certain pre-1980 withdrawals; adjustment of covered plan

Stat.×1

U.S.C.×1

Pub. L.Pub. L. 93–406, title IV, § 4217

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

Stat.94 Stat. 1235

Pub. L.Pub. L. 98–369, div. A, title V, § 558(b)(1)(A)

Stat.98 Stat. 899

Cites 6 · showing 5Cited by 2 across 2 sources