29-U.S.C.-1397
§1397 – Application of Part In Case of Certain Pre-1980 Withdrawals; Adjustment of Covered Plan
Pathway
Title 29 > Chapter 18 > Subchapter III > Subtitle E > Part 1 > Section 1397
Details
- Reference: Section 1397
- Legend: §1397 – Application of Part In Case of Certain Pre-1980 Withdrawals; Adjustment of Covered Plan
- USCode Year: 2013
Provision Content
(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) of this section.
(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.)
Amendments
1984—Subsec. (a). Pub. L. 98–369, §558(b)(1)(A), (B), substituted September 25, 1980 for April 28, 1980 in provisions preceding par. (1) and September 26, 1980 for April 29, 1980 in pars. (1) and (2).
U.S. Encyclopedia of Law Coverage
29-U.S.C.-1387 in the Legal Encyclopedia: Labor
In this entry about 29-U.S.C.-1387, find legal reference material, bibliographies and premiere content related to labor in the American Encyclopedia of Law, presenting a comprehensive view of the United States labor-specific issues, written by authorities in the field.
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