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2026-07-06 10:51:44 -04:00

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LegalText 29 U.S.C. § 1397 Application of part in case of certain pre-1980 withdrawals; adjustment of covered plan us united_states_code code_section 29 LABOR 18 EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM 1397 29 U.S.C. § 1397 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc29@119-100.zip /us/usc/t29/s1397 data/legal/raw/us/code/title-29/usc29.xml a324bf437be3d75996df5ca2e4a9d022e0ab4af0c0804a302cc0d6fbf65e1f9f 123f65eaf0f6719b01d66f4a47cd03d5134b66fbd92ae96d7387b67454b98476 dec9718d438d53ae7251000b7fe4ea919984c9a1112c857fddff34198dd7c19e 2026-07-04 official
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29 U.S.C. § 1397 - Application of part in case of certain pre-1980 withdrawals; adjustment of covered plan

Text

(a) For the purpose of determining the amount of unfunded vested benefits allocable to an employer for a partial or complete withdrawal from a plan which occurs after September 25, 1980, and for the purpose of determining whether there has been a partial withdrawal after such date, the amount of contributions, and the number of contribution base units, of such employer properly allocable—

(1) to work performed under a collective bargaining agreement for which there was a permanent cessation of the obligation to contribute before September 26, 1980, or

(2) to work performed at a facility at which all covered operations permanently ceased before September 26, 1980, or for which there was a permanent cessation of the obligation to contribute before that date,

shall not be taken into account.

(b) A plan may, in a manner not inconsistent with regulations, which shall be prescribed by the corporation, adjust the amount of unfunded vested benefits allocable to other employers under a plan maintained by an employer described in subsection (a).

(Pub. L. 93406, title IV, § 4217, as added Pub. L. 96364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1235; amended Pub. L. 98369, div. A, title V, § 558(b)(1)(A), (B), July 18, 1984, 98 Stat. 899.)

Notes

Editorial Notes

Amendments1984—Subsec. (a). Pub. L. 98369, § 558(b)(1)(A), (B), substituted “September 25, 1980” for “April 28, 1980” in provisions preceding par. (1) and “September 26, 1980” for “April 29, 1980” in pars. (1) and (2).