29-U.S.C.-1058
§1058 – Mergers and Consolidations of Plans Or Transfers of Plan Assets
Pathway
Title 29 > Chapter 18 > Subchapter I > Subtitle B > Part 2 > Section 1058
Details
- Reference: Section 1058
- Legend: §1058 – Mergers and Consolidations of Plans Or Transfers of Plan Assets
- USCode Year: 2013
Provision Content
A pension plan may not merge or consolidate with, or transfer its assets or liabilities to, any other plan after September 2, 1974, unless each participant in the plan would (if the plan then terminated) receive a benefit immediately after the merger, consolidation, or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger, consolidation, or transfer (if the plan had then terminated). The preceding sentence shall not apply to any transaction to the extent that participants either before or after the transaction are covered under a multiemployer plan to which subchapter III of this chapter applies.
(Pub. L. 93–406, title I, §208, Sept. 2, 1974, 88 Stat. 865; Pub. L. 96–364, title IV, §402(b)(1), Sept. 26, 1980, 94 Stat. 1299.)
Amendments
1980—Pub. L. 96–364 substituted provisions respecting applicability of preceding sentence to transactions under a covered multiemployer plan to which subchapter III applies, for provisions relating to applicability of paragraph to a multiemployer plan only to extent determined by Corporation.
Effective Date of 1980 Amendment
Amendment by Pub. L. 96–364 effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title.
U.S. Encyclopedia of Law Coverage
29-U.S.C.-1052 in the Legal Encyclopedia: Labor
In this entry about 29-U.S.C.-1052, 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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