2012 US Code
Title 29 - Labor
Chapter 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM (§§ 1001 - 1461)
Subchapter III - PLAN TERMINATION INSURANCE (§§ 1301 - 1461)
Subtitle E - Special Provisions for Multiemployer Plans (§§ 1381 - 1453)
Part 1 - employer withdrawals (§§ 1381 - 1405)
Section 1389 - De minimis rule
| Publication Title | United States Code, 2012 Edition, Title 29 - LABOR |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 29 - LABOR CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM SUBCHAPTER III - PLAN TERMINATION INSURANCE Subtitle E - Special Provisions for Multiemployer Plans part 1 - employer withdrawals Sec. 1389 - De minimis rule |
| Contains | section 1389 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 93-406, title IV, §4209, as added Pub. L. 96-364, title I, §104(2), Sept. 26, 1980, 94 Stat. 1225. |
| Statutes at Large Reference | 94 Stat. 1225 |
| Public Law References | Public Law 93-406, Public Law 96-364 |
Download PDF
Except in the case of a plan amended under subsection (b) of this section, the amount of the unfunded vested benefits allocable under section 1391 of this title to an employer who withdraws from a plan shall be reduced by the smaller of—
(1) ¾ of 1 percent of the plan's unfunded vested obligations (determined as of the end of the plan year ending before the date of withdrawal), or
(2) $50,000,
reduced by the amount, if any, by which the unfunded vested benefits allowable to the employer, determined without regard to this subsection, exceeds $100,000.
(b) Amendment of plan for reduction of amount of unfunded vested benefits allocable to employer withdrawn from planA plan may be amended to provide for the reduction of the amount determined under section 1391 of this title by not more than the greater of—
(1) the amount determined under subsection (a) of this section, or
(2) the lesser of—
(A) the amount determined under subsection (a)(1) of this section, or
(B) $100,000,
reduced by the amount, if any, by which the amount determined under section 1391 of this title for the employer, determined without regard to this subsection, exceeds $150,000.
(c) NonapplicabilityThis section does not apply—
(1) to an employer who withdraws in a plan year in which substantially all employers withdraw from the plan, or
(2) in any case in which substantially all employers withdraw from the plan during a period of one or more plan years pursuant to an agreement or arrangement to withdraw, to an employer who withdraws pursuant to such agreement or arrangement.
(d) Presumption of employer withdrawal from plan pursuant to agreement or arrangement applicable in action or proceeding to determine or collect withdrawal liabilityIn any action or proceeding to determine or collect withdrawal liability, if substantially all employers have withdrawn from a plan within a period of 3 plan years, an employer who has withdrawn from such plan during such period shall be presumed to have withdrawn from the plan pursuant to an agreement or arrangement, unless the employer proves otherwise by a preponderance of the evidence.
(Pub. L. 93–406, title IV, §4209, as added Pub. L. 96–364, title I, §104(2), Sept. 26, 1980, 94 Stat. 1225.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
