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29 U.S.C. § 1411 — Mergers and transfers between multiemployer plans
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority of plan sponsor** Unless otherwise provided in regulations prescribed by the corporation, a plan sponsor may not cause a multiemployer plan to merge with one or more multiemployer plans, or engage in a transfer of assets and liabilities to or from another multiemployer plan, unless such merger or transfer satisfies the requirements of subsection (b).
**(b) Criteria** A merger or transfer satisfies the requirements of this section if—
(1) in accordance with regulations of the corporation, the plan sponsor of a multiemployer plan notifies the corporation of a merger with or transfer of plan assets or liabilities to another multiemployer plan at least 120 days before the effective date of the merger or transfer;
(2) no participant’s or beneficiary’s accrued benefit will be lower immediately after the effective date of the merger or transfer than the benefit immediately before that date;
(3) the benefits of participants and beneficiaries are not reasonably expected to be subject to suspension under [section 1426 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1426&num=0&edition=prelim); and
(4) an actuarial valuation of the assets and liabilities of each of the affected plans has been performed during the plan year preceding the effective date of the merger or transfer, based upon the most recent data available as of the day before the start of that plan year, or other valuation of such assets and liabilities performed under such standards and procedures as the corporation may prescribe by regulation.
**(c) Actions not deemed violation of section 1106(a) or (b)(2) of this title** The merger of multiemployer plans or the transfer of assets or liabilities between multiemployer plans, shall be deemed not to const
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Stable record: federal_law:legal_authorities:record_usc_112fc73e7d65821aecff5e66
Source file: Laws/federal/codes/united-states-code/title-29/section-1411-mergers-and-transfers-between-multiemployer-plans--a21eb5a3d6.md
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Source location: Title 29, Chapter 18, § 1411; chapter-018-employee-retirement-income-security-program.md
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**(a) Authority of plan sponsor** Unless otherwise provided in regulations prescribed by the corporation, a plan sponsor may not cause a multiemployer plan to merge with one or more multiemployer plans, or engage in a transfer of assets and liabilities to or from another multiemployer plan, unless such merger or transfer satisfies the requirements of subsection (b).
**(b) Criteria** A merger or transfer satisfies the requirements of this section if—
(1) in accordance with regulations of the corporation, the plan sponsor of a multiemployer plan notifies the corporation of a merger with or transfer of plan assets or liabilities to another multiemployer plan at least 120 days before the effective date of the merger or transfer;
(2) no participant’s or beneficiary’s accrued benefit will be lower immediately after the effective date of the merger or transfer than the benefit immediately before that date;
(3) the benefits of participants and beneficiaries are not reasonably expected to be subject to suspension under [section 1426 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1426&num=0&edition=prelim); and
(4) an actuarial valuation of the assets and liabilities of each of the affected plans has been performed during the plan year preceding the effective date of the merger or transfer, based upon the most recent data available as of the day before the start of that plan year, or other valuation of such assets and liabilities performed under such standards and procedures as the corporation may prescribe by regulation.
**(c) Actions not deemed violation of section 1106(a) or (b)(2) of this title** The merger of multiemployer plans or the transfer of assets or liabilities between multiemployer plans, shall be deemed not to constitute a violation of the provisions of [section 1106(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1106/a&num=0&edition=prelim) or [section 1106(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1106/b/2&num=0&edition=prelim) if the corporation determines that the merger or transfer otherwise satisfies the requirements of this section.
**(d) Nature of plan to which liabilities are transferred** A plan to which liabilities are transferred under this section is a successor plan for purposes of [section 1322a(b)(2)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322a/b/2/B&num=0&edition=prelim).
**(e) Facilitated mergers**
(1) **In general** — When requested to do so by the plan sponsors, the corporation may take such actions as it deems appropriate to promote and facilitate the merger of two or more multiemployer plans if it determines, after consultation with the Participant and Plan Sponsor Advocate selected under [section 1304 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1304&num=0&edition=prelim), that the transaction is in the interests of the participants and beneficiaries of at least one of the plans and is not reasonably expected to be adverse to the overall interests of the participants and beneficiaries of any of the plans. Such facilitation may include training, technical assistance, mediation, communication with stakeholders, and support with related requests to other government agencies.
(2) **Financial assistance** — In order to facilitate a merger which it determines is necessary to enable one or more of the plans involved to avoid or postpone insolvency, the corporation may provide financial assistance (within the meaning of [section 1431 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1431&num=0&edition=prelim)) to the merged plan if—
(A) one or more of the multiemployer plans participating in the merger is in critical and declining status (as defined in [section 1085(b)(4) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1085/b/4&num=0&edition=prelim));
(B) the corporation reasonably expects that—
(i) such financial assistance will reduce the corporation’s expected long-term loss with respect to the plans involved; and
(ii) such financial assistance is necessary for the merged plan to become or remain solvent;
(C) the corporation certifies that its ability to meet existing financial assistance obligations to other plans will not be impaired by such financial assistance; and
(D) such financial assistance is paid exclusively from the fund for basic benefits guaranteed for multiemployer plans.
Not later than 14 days after the provision of such financial assistance, the corporation shall provide notice of such financial assistance to the Committee on Education and the Workforce of the House of Representatives, the Committee on Ways and Means of the House of Representatives, the Committee on Finance of the Senate, and the Committee on Health, Education, Labor, and Pensions of the Senate.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Suspension of payments of benefits; conditions, amount, etc.** Notwithstanding sections 1053 and 1054 of this title, in any case in which benefit payments under an insolvent multiemployer plan exceed the resource benefit level, any such payments of benefits which are not basic benefits shall be suspended, in accordance with this section, to the extent necessary to reduce the sum of such payments and the payments of such basic benefits to the greater of the resource benefit level or the level of basic benefits, unless an alternative procedure is prescribed by the corporation under [section 1322a(g)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322a/g/5&num=0&edition=prelim).
**(b) Determination of insolvency status for plan year; definitions** For purposes of this section, for a plan year—
(1) a multiemployer plan is insolvent if the plan’s available resources are not sufficient to pay benefits under the plan when due for the plan year, or if the plan is determined to be insolvent under subsection (d);
(2) “resource benefit level” means the level of monthly benefits determined under subsections (c)(1) and (3) and (d)(3) to be the highest level which can be paid out of the plan’s available resources;
(3) “available resources” means the plan’s cash, marketable assets, contributions, withdrawal liability payments, and earnings, less reasonable administrative expenses and amounts owed for such plan year to the corporation under [section 1431(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1431/b/2&num=0&edition=prelim); and
(4) “insolvency year” means a plan year in which a plan is insolvent.
**(c) Determination by plan sponsor of plan in critical status of resource
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1426
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The board of directors of the corporation shall select a Participant and Plan Sponsor Advocate from the candidates nominated by the advisory committee to the corporation under [section 1302(h)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1302/h/1&num=0&edition=prelim) and without regard to the provisions of title 5 relating to appointments in the competitive service or Senior Executive Service.
**(b) Duties** The Participant and Plan Sponsor Advocate shall—
(1) act as a liaison between the corporation, sponsors of defined benefit pension plans insured by the corporation, and participants in pension plans trusteed by the corporation;
(2) advocate for the full attainment of the rights of participants in plans trusteed by the corporation;
(3) assist pension plan sponsors and participants in resolving disputes with the corporation;
(4) identify areas in which participants and plan sponsors have persistent problems in dealings with the corporation;
(5) to the extent possible, propose changes in the administrative practices of the corporation to mitigate problems;
(6) identify potential legislative changes which may be appropriate to mitigate problems; and
(7) refer instances of fraud, waste, and abuse, and violations of law to the Office of the Inspector General of the corporation.
**(c) Removal** If the Participant and Plan Sponsor Advocate is removed from office or is transferred to another position or location within the corporation or the Department of Labor, the board of the 11 So in original. The word “the” probably should not appear. directors of the corporation shall communicate in writing the reasons for any such removal or transfer to Congress not less than 30 days before the removal or tr
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1304
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority; procedure applicable; amount** If, upon receipt of an application for financial assistance under [section 1426(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1426/f&num=0&edition=prelim) or [section 1441(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1441/d&num=0&edition=prelim), the corporation verifies that the plan is or will be insolvent and unable to pay basic benefits when due, the corporation shall provide the plan financial assistance in an amount sufficient to enable the plan to pay basic benefits under the plan.
**(b) Conditions; repayment terms**
(1) Financial assistance shall be provided under such conditions as the corporation determines are equitable and are appropriate to prevent unreasonable loss to the corporation with respect to the plan.
(2) A plan which has received financial assistance shall repay the amount of such assistance to the corporation on reasonable terms consistent with regulations prescribed by the corporation.
**(c) Assistance pending final determination of application** Pending determination of the amount described in subsection (a), the corporation may provide financial assistance in such amounts as it considers appropriate in order to avoid undue hardship to plan participants and beneficiaries.
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1431
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Grant of exemptions** The Secretary shall establish an exemption procedure for purposes of this subsection. Pursuant to such procedure, he may grant a conditional or unconditional exemption of any fiduciary or transaction, or class of fiduciaries or transactions, from all or part of the restrictions imposed by sections 1106 and 1107(a) of this title. Action under this subsection may be taken only after consultation and coordination with the Secretary of the Treasury. An exemption granted under this section shall not relieve a fiduciary from any other applicable provision of this chapter. The Secretary may not grant an exemption under this subsection unless he finds that such exemption is—
(1) administratively feasible,
(2) in the interests of the plan and of its participants and beneficiaries, and
(3) protective of the rights of participants and beneficiaries of such plan.
Before granting an exemption under this subsection from section 1106(a) or 1107(a) of this title, the Secretary shall publish notice in the Federal Register of the pendency of the exemption, shall require that adequate notice be given to interested persons, and shall afford interested persons opportunity to present views. The Secretary may not grant an exemption under this subsection from [section 1106(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1106/b&num=0&edition=prelim) unless he affords an opportunity for a hearing and makes a determination on the record with respect to the findings required by paragraphs (1), (2), and (3) of this subsection.
**(b) Enumeration of transactions exempted from section 1106 prohibitions** The prohibitions provided in [section 1106 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-tit
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1108
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Federal law — U.S. Code and appendices · legal_authorities
Page 720
TITLE 29—LABOR
§ 1411
(A) as of the commencement of liquidation
or dissolution, and
(B) after reducing the liquidation or dis-
solution value of the employer by the
amount determined under paragraph (1).
(c) Property not subject to enforcement of liabil-
ity; precondition
To the extent that the withdrawal liability of
an employer is attributable to his obligation to
contribute to or under a plan as an individual
(whether as a sole proprietor or as a member of
a partnership), property which may be exempt
from the estate under section 522 of title 11 or
under similar provisions of law, shall not be sub-
ject to enforcement of such liability.
(d) Insolvency of employer; liquidation or dis-
solution value of employer
For purposes of this section—
(1) an employer is insolvent if the liabilities
of the employer, including withdrawal liabil-
ity under the plan (determined without regard
to subsection (b)), exceed the assets of the em-
ployer (determined as of the commencement
of the liquidation or dissolution), and
(2) the liquidation or dissolution value of the
employer shall be determined without regard
to such withdrawal liability.
(e) One or more withdrawals of employer attrib-
utable to same sale, liquidation, or dissolu-
tion
In the case of one or more withdrawals of an
employer attributable to the same sale, liquida-
tion, or dissolution, under regulations pre-
scribed by the corporation—
(1) all such withdrawals shall be treated as a
single withdrawal for the purpose of applying
this section, and
(2) the withdrawal liability of the employer
to each plan shall be an amount which bears
the same ratio to the present value of the
withdrawal liability payments to all plans
(after the application of the preceding provi-
sions of this sec
Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1411
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