2012 US Code
Title 29 - Labor
Chapter 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM (§§ 1001 - 1461)
Subchapter I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS (§§ 1001 - 1191c)
Subtitle A - General Provisions (§§ 1001 - 1003)
Section 1001a - Additional Congressional findings and declaration of policy

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Metadata
Publication TitleUnited States Code, 2012 Edition, Title 29 - LABOR
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 29 - LABOR
CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS
Subtitle A - General Provisions
Sec. 1001a - Additional Congressional findings and declaration of policy
Containssection 1001a
Date2012
Laws in Effect as of DateJanuary 15, 2013
Positive LawNo
Dispositionstandard
Source CreditPub. L. 96-364, §3, Sept. 26, 1980, 94 Stat. 1209.
Statutes at Large References94 Stat. 1209, 1208, 1309
Public Law ReferencesPublic Law 96-364

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General Provisions - 29 U.S.C. § 1001a (2012)
§1001a. Additional Congressional findings and declaration of policy (a) Effects of multiemployer pension plans

The Congress finds that—

(1) multiemployer pension plans have a substantial impact on interstate commerce and are affected with a national public interest;

(2) multiemployer pension plans have accounted for a substantial portion of the increase in private pension plan coverage over the past three decades;

(3) the continued well-being and security of millions of employees, retirees, and their dependents are directly affected by multiemployer pension plans; and

(4)(A) withdrawals of contributing employers from a multiemployer pension plan frequently result in substantially increased funding obligations for employers who continue to contribute to the plan, adversely affecting the plan, its participants and beneficiaries, and labor-management relations, and

(B) in a declining industry, the incidence of employer withdrawals is higher and the adverse effects described in subparagraph (A) are exacerbated.

(b) Modification of multiemployer plan termination insurance provisions and replacement of program

The Congress further finds that—

(1) it is desirable to modify the current multiemployer plan termination insurance provisions in order to increase the likelihood of protecting plan participants against benefit losses; and

(2) it is desirable to replace the termination insurance program for multiemployer pension plans with an insolvency-based benefit protection program that will enhance the financial soundness of such plans, place primary emphasis on plan continuation, and contain program costs within reasonable limits.

(c) Policy

It is hereby declared to be the policy of this Act—

(1) to foster and facilitate interstate commerce,

(2) to alleviate certain problems which tend to discourage the maintenance and growth of multiemployer pension plans,

(3) to provide reasonable protection for the interests of participants and beneficiaries of financially distressed multiemployer pension plans, and

(4) to provide a financially self-sufficient program for the guarantee of employee benefits under multiemployer plans.

(Pub. L. 96–364, §3, Sept. 26, 1980, 94 Stat. 1209.)

References in Text

This Act, referred to in subsec. (c), is Pub. L. 96–364, Sept. 26, 1980, 94 Stat. 1208, known as the Multiemployer Pension Plan Amendments Act of 1980. For complete classification of this Act to the Code, see Short Title of 1980 Amendment note set out under section 1001 of this title and Tables.

Codification

Section was enacted as part of the Multiemployer Pension Plan Amendments Act of 1980, and not as part of the Employee Retirement Income Security Act of 1974 which comprises this chapter.

Effective Date

Section effective Sept. 26, 1980, see section 1461(e)(1) of this title.

Study and Report Respecting Collective Bargaining for Contributions to, and Benefits From, Multiemployer Plans

Pub. L. 96–364, title IV, §412(b), Sept. 26, 1980, 94 Stat. 1309, directed Secretary of Labor to study feasibility of requiring collective bargaining on both issues of contributions to, and benefits from, multiemployer plans, and submit a report on the study to Congress within 3 years of Sept. 26, 1980.

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