2012 US Code
Title 29 - Labor
Chapter 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM (§§ 1001 - 1461)
Subchapter III - PLAN TERMINATION INSURANCE (§§ 1301 - 1461)
Subtitle B - Coverage (§§ 1321 - 1323)
Section 1322b - Aggregate limit on benefits guaranteed; criteria applicable

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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 III - PLAN TERMINATION INSURANCE
Subtitle B - Coverage
Sec. 1322b - Aggregate limit on benefits guaranteed; criteria applicable
Containssection 1322b
Date2012
Laws in Effect as of DateJanuary 15, 2013
Positive LawNo
Dispositionstandard
Source CreditPub. L. 93-406, title IV, §4022B, as added Pub. L. 96-364, title I, §102, Sept. 26, 1980, 94 Stat. 1215.
Statutes at Large Reference94 Stat. 1215
Public Law ReferencesPublic Law 93-406, Public Law 96-364

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Coverage - 29 U.S.C. § 1322b (2012)
§1322b. Aggregate limit on benefits guaranteed; criteria applicable

(a) Notwithstanding sections 1322 and 1322a of this title, no person shall receive from the corporation pursuant to a guarantee by the corporation of basic benefits with respect to a participant under all multiemployer and single employer plans an amount, or amounts, with an actuarial value which exceeds the actuarial value of a monthly benefit in the form of a life annuity commencing at age 65 equal to the amount determined under section 1322(b)(3)(B) of this title as of the date of the last plan termination.

(b) For purposes of this section—

(1) the receipt of benefits under a multiemployer plan receiving financial assistance from the corporation shall be considered the receipt of amounts from the corporation pursuant to a guarantee by the corporation of basic benefits except to the extent provided in regulations prescribed by the corporation, and

(2) the date on which a multiemployer plan, whether or not terminated, begins receiving financial assistance from the corporation shall be considered a date of plan termination.

(Pub. L. 93–406, title IV, §4022B, as added Pub. L. 96–364, title I, §102, Sept. 26, 1980, 94 Stat. 1215.)

Effective Date

Section effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title.

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