2016 US Code
Title 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
| 29 U.S.C. § 1322b (2016) |
| §1322b. Aggregate limit on benefits guaranteed; criteria applicable |
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(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. |
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(Pub. L. 93–406, title IV, §4022B, as added Pub. L. 96–364, title I, §102, Sept. 26, 1980, 94 Stat. 1215.) |
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EFFECTIVE DATE
Section effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title. |
| United States Code, 2012 Edition, Supplement 4, Title 29 - LABOR |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 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 |
| section 1322b |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 94 Stat. 1215 |
| Public Law 93-406, Public Law 96-364 |
