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29 U.S.C. § 1081 — Coverage

Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1081 — Coverage

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Stable record: federal_law:legal_authorities:record_usc_18e2bb413f1d4c65319e8163
Source file: Laws/federal/codes/united-states-code/title-29/section-1081-coverage--0261bda539.md
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Source location: Title 29, Chapter 18, § 1081; chapter-018-employee-retirement-income-security-program.md

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**(a) Plans excepted from applicability of this part** This part shall apply to any employee pension benefit plan described in [section 1003(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1003/a&num=0&edition=prelim), (and not exempted under [section 1003(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1003/b&num=0&edition=prelim)), other than— (1) an employee welfare benefit plan; (2) an insurance contract plan described in subsection (b); (3) a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees; (4) (A) a plan which is established and maintained by a society, order, or association described in section 501(c)(8) or (9) of title 26, if no part of the contributions to or under such plan are made by employers of participants in such plan; or (B) a trust described in [section 501(c)(18) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section501/c/18&num=0&edition=prelim); (5) a plan which has not at any time after September 2, 1974, provided for employer contributions; (6) an agreement providing payments to a retired partner or deceased partner or a deceased partner’s successor in interest as described in [section 736 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section736&num=0&edition=prelim); (7) an individual retirement account or annuity as described in [section 408(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section408/a&num=0&edition=prelim), or a retirement bond described in [section 409 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section409&num=0&edition=prelim) (as effective for obligations issued before January 1, 1984); (8) an individual account plan (other than a money purchase plan) and a defined benefit plan to the extent it is treated as an individual account plan (other than a money purchase plan) under [section 1002(35)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002/35/B&num=0&edition=prelim); (9) an excess benefit plan; or (10) any plan, fund or program under which an employer, all of whose stock is directly or indirectly owned by employees, former employees or their beneficiaries, proposes through an unfunded arrangement to compensate retired employees for benefits which were forfeited by such employees under a pension plan maintained by a former employer prior to the date such pension plan became subject to this chapter. **(b) “Insurance contract plan” defined** For the purposes of paragraph (2) of subsection (a) a plan is an “insurance contract plan” if— (1) the plan is funded exclusively by the purchase of individual insurance contracts, (2) such contracts provide for level annual premium payments to be paid extending not later than the retirement age for each individual participating in the plan, and commencing with the date the individual became a participant in the plan (or, in the case of an increase in benefits, commencing at the time such increase became effective), (3) benefits provided by the plan are equal to the benefits provided under each contract at normal retirement age under the plan and are guaranteed by an insurance carrier (licensed under the laws of a State to do business with the plan) to the extent premiums have been paid, (4) premiums payable for the plan year, and all prior plan years under such contracts have been paid before lapse or there is reinstatement of the policy, (5) no rights under such contracts have been subject to a security interest at any time during the plan year, and (6) no policy loans are outstanding at any time during the plan year. A plan funded exclusively by the purchase of group insurance contracts which is determined under regulations prescribed by the Secretary of the Treasury to have the same characteristics as contracts described in the preceding sentence shall be treated as a plan described in this subsection. **(c) Applicability of this part to terminated multiemployer plans** This part applies, with respect to a terminated multiemployer plan to which [section 1321 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1321&num=0&edition=prelim) applies, until the last day of the plan year in which the plan terminates, within the meaning of [section 1341a(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341a/a/2&num=0&edition=prelim).

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 412 — Minimum funding standards

**(a) Requirement to meet minimum funding standard** (1) **In general** — A plan to which this section applies shall satisfy the minimum funding standard applicable to the plan for any plan year. (2) **Minimum funding standard** — For purposes of paragraph (1), a plan shall be treated as satisfying the minimum funding standard for a plan year if— (A) in the case of a defined benefit plan which is not a multiemployer plan or a CSEC plan, the employer makes contributions to or under the plan for the plan year which, in the aggregate, are not less than the minimum required contribution determined under section 430 for the plan for the plan year, (B) in the case of a money purchase plan which is not a multiemployer plan, the employer makes contributions to or under the plan for the plan year which are required under the terms of the plan, (C) in the case of a multiemployer plan, the employers make contributions to or under the plan for any plan year which, in the aggregate, are sufficient to ensure that the plan does not have an accumulated funding deficiency under section 431 as of the end of the plan year, and (D) in the case of a CSEC plan, the employers make contributions to or under the plan for any plan year which, in the aggregate, are sufficient to ensure that the plan does not have an accumulated funding deficiency under section 433 as of the end of the plan year. **(b) Liability for contributions** (1) **In general** — Except as provided in paragraph (2), the amount of any contribution required by this section (including any required installments under paragraphs (3) and (4) of section 430(j) or under section 433(f)) shall be paid by the employer responsible for making contributions to or under the plan. (2) **Joint and several liability where emp

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 412

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1001 — Congressional findings and declaration of policy

**(a) Benefit plans as affecting interstate commerce and the Federal taxing power** The Congress finds that the growth in size, scope, and numbers of employee benefit plans in recent years has been rapid and substantial; that the operational scope and economic impact of such plans is increasingly interstate; that the continued well-being and security of millions of employees and their dependents are directly affected by these plans; that they are affected with a national public interest; that they have become an important factor affecting the stability of employment and the successful development of industrial relations; that they have become an important factor in commerce because of the interstate character of their activities, and of the activities of their participants, and the employers, employee organizations, and other entities by which they are established or maintained; that a large volume of the activities of such plans are carried on by means of the mails and instrumentalities of interstate commerce; that owing to the lack of employee information and adequate safeguards concerning their operation, it is desirable in the interests of employees and their beneficiaries, and to provide for the general welfare and the free flow of commerce, that disclosure be made and safeguards be provided with respect to the establishment, operation, and administration of such plans; that they substantially affect the revenues of the United States because they are afforded preferential Federal tax treatment; that despite the enormous growth in such plans many employees with long years of employment are losing anticipated retirement benefits owing to the lack of vesting provisions in such plans; that owing to the inadequacy of current minimum standards, the soundness and stabilit

Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1001

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 736 — Payments to a retiring partner or a deceased partner’s successor in interest

**(a) Payments considered as distributive share or guaranteed payment** Payments made in liquidation of the interest of a retiring partner or a deceased partner shall, except as provided in subsection (b), be considered— (1) as a distributive share to the recipient of partnership income if the amount thereof is determined with regard to the income of the partnership, or (2) as a guaranteed payment described in section 707(c) if the amount thereof is determined without regard to the income of the partnership. **(b) Payments for interest in partnership** (1) **General rule** — Payments made in liquidation of the interest of a retiring partner or a deceased partner shall, to the extent such payments (other than payments described in paragraph (2)) are determined, under regulations prescribed by the Secretary, to be made in exchange for the interest of such partner in partnership property, be considered as a distribution by the partnership and not as a distributive share or guaranteed payment under subsection (a). (2) **Special rules** — For purposes of this subsection, payments in exchange for an interest in partnership property shall not include amounts paid for— (A) unrealized receivables of the partnership (as defined in section 751(c)), or (B) good will of the partnership, except to the extent that the partnership agreement provides for a payment with respect to good will. (3) **Limitation on application of paragraph (2)** — Paragraph (2) shall apply only if— (A) capital is not a material income-producing factor for the partnership, and (B) the retiring or deceased partner was a general partner in the partnership.

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 736

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1084 — Minimum funding standards for multiemployer plans

**(a) In general** For purposes of [section 1082 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1082&num=0&edition=prelim), the accumulated funding deficiency of a multiemployer plan for any plan year is the amount, determined as of the end of the plan year, equal to the excess (if any) of the total charges to the funding standard account of the plan for all plan years (beginning with the first plan year for which this part applies to the plan) over the total credits to such account for such years. **(b) Funding standard account** (1) **Account required** — Each multiemployer plan to which this part applies shall establish and maintain a funding standard account. Such account shall be credited and charged solely as provided in this section. (2) **Charges to account** — For a plan year, the funding standard account shall be charged with the sum of— (A) the normal cost of the plan for the plan year, (B) the amounts necessary to amortize in equal annual installments (until fully amortized)— (i) in the case of a plan which comes into existence on or after January 1, 2008, the unfunded past service liability under the plan on the first day of the first plan year to which this section applies, over a period of 15 plan years, (ii) separately, with respect to each plan year, the net increase (if any) in unfunded past service liability under the plan arising from plan amendments adopted in such year, over a period of 15 plan years, (iii) separately, with respect to each plan year, the net experience loss (if any) under the plan, over a period of 15 plan years, and (iv) separately, with respect to each plan year, the net loss (if any) resulting from changes in actuarial assumptions used under the plan, over

Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1084

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 409 — Qualifications for tax credit employee stock ownership plans

**(a) Tax credit employee stock ownership plan defined** Except as otherwise provided in this title, for purposes of this title, the term “tax credit employee stock ownership plan” means a defined contribution plan which— (1) meets the requirements of section 401(a), (2) is designed to invest primarily in employer securities, and (3) meets the requirements of subsections (b), (c), (d), (e), (f), (g), (h), and (o) of this section. **(b) Required allocation of employer securities** (1) **In general** — A plan meets the requirements of this subsection if— (A) the plan provides for the allocation for the plan year of all employer securities transferred to it or purchased by it (because of the requirements of section 41(c)(1)(B)) 11 See References in Text note below. to the accounts of all participants who are entitled to share in such allocation, and (B) for the plan year the allocation to each participant so entitled is an amount which bears substantially the same proportion to the amount of all such securities allocated to all such participants in the plan for that year as the amount of compensation paid to such participant during that year bears to the compensation paid to all such participants during that year. (2) **Compensation in excess of $100,000 disregarded** — For purposes of paragraph (1), compensation of any participant in excess of the first $100,000 per year shall be disregarded. (3) **Determination of compensation** — For purposes of this subsection, the amount of compensation paid to a participant for any period is the amount of such participant’s compensation (within the meaning of section 415(c)(3)) for such period. (4) **Suspension of allocation in certain cases** — Notwithstanding paragraph (1), the allocation to the account of any partici

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 409

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1031 — Repeal and effective date

**(a)** (1) The Welfare and Pension Plans Disclosure Act [[29 U.S.C. 301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section301&num=0&edition=prelim) et seq.] is repealed except that such Act shall continue to apply to any conduct and events which occurred before the effective date of this part. (2) (A) [Section 664 of title 18](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title18-section664&num=0&edition=prelim) is amended by striking out “any such plan subject to the provisions of the Welfare and Pension Plans Disclosure Act” and inserting in lieu thereof “any employee benefit plan subject to any provisions of title I of the Employee Retirement Income Security Act of 1974”. (B) (i) Section 1027 of such title 18 is amended by striking out “Welfare and Pension Plans Disclosure Act” and inserting in lieu thereof “title I of the Employee Retirement Income Security Act of 1974”, and by striking out “Act” each place it appears and inserting in lieu thereof “title”. (ii) The heading for such section is amended by striking out “welfare and pension plans disclosure act” and inserting in lieu thereof “employee retirement income security act of 1974”. (iii) The table of sections of chapter 47 of such title 18 is amended by striking out “Welfare and Pension Plans Disclosure Act” in the item relating to section 1027 and inserting in lieu thereof “Employee Retirement Income Security Act of 1974”. (C) Section 1954 of such title 18 is amended by striking out “any plan subject to the provisions of the Welfare and Pension Plans Disclosure Act as amended” and inserting in lieu thereof “any employee welfare benefit plan or employee pension benefit plan, respectively, subject to any provision of title I of the Employee Re

Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1031

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1321 — Coverage

**(a) Plans covered** Except as provided in subsection (b), this subchapter applies to any plan (including a successor plan) which, for a plan year— (1) is an employee pension benefit plan (as defined in paragraph (2) of [section 1002 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002&num=0&edition=prelim)) established or maintained— (A) by an employer engaged in commerce or in any industry or activity affecting commerce, or (B) by any employee organization, or organization representing employees, engaged in commerce or in any industry or activity affecting commerce, or (C) by both, which has, in practice, met the requirements of part I of subchapter D of chapter 1 of title 26 (as in effect for the preceding 5 plan years of the plan) applicable to the plans described in paragraph (2) for the preceding 5 plan years; or (2) is, or has been determined by the Secretary of the Treasury to be, a plan described in [section 401(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section401/a&num=0&edition=prelim), or which meets, or has been determined by the Secretary of the Treasury to meet, the requirements of [section 404(a)(2) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section404/a/2&num=0&edition=prelim). For purposes of this subchapter, a successor plan is considered to be a continuation of a predecessor plan. For this purpose, unless otherwise specifically indicated in this subchapter, a successor plan is a plan which covers a group of employees which includes substantially the same employees as a previously established plan, and provides substantially the same benefits as that plan provided. **(b) Plans not covered** This section does not a

Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1321

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1002 — Definitions

For purposes of this subchapter: (1) The terms “employee welfare benefit plan” and “welfare plan” mean any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that such plan, fund, or program was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, (A) medical, surgical, or hospital care or benefits, or benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs, or day care centers, scholarship funds, or prepaid legal services, or (B) any benefit described in [section 186(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section186/c&num=0&edition=prelim) (other than pensions on retirement or death, and insurance to provide such pensions). (2) (A) Except as provided in subparagraph (B), the terms “employee pension benefit plan” and “pension plan” mean any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program— (i) provides retirement income to employees, or (ii) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan or the method of distributing benefits from the plan. A distribution from a plan, fund, or program shall not be treated as made

Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1002

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1081 — Coverage

Page 447 TITLE 29—LABOR § 1081 gate, than the rules provided under sections 1052, 1053, and 1054 of this title. (2) For purposes of paragraph (1), the term ‘‘supplementary or special plan provision’’ means any plan provision which— (A) provides supplementary benefits, not in excess of one-third of the basic benefit, in the form of an annuity for the life of the partici- pant, or (B) provides that, under a contractual agree- ment based on medical evidence as to the ef- fects of working in an adverse environment for an extended period of time, a participant hav- ing 25 years of service is to be treated as hav- ing 30 years of service. (3) This subsection shall apply with respect to a plan if (and only if) the application of this sub- section results in a later effective date for this part than the effective date required by sub- section (b). (d) If the administrator of a plan elects under section 1017(d) of this Act to make applicable to a plan year and to all subsequent plan years the provisions of title 26 relating to participation, vesting, funding, and form of benefit, this part shall apply to the first plan year to which such election applies and to all subsequent plan years. (e)(1) No pension plan to which section 1052 of this title applies may make effective any plan amendment with respect to breaks in service (which amendment is made or becomes effective after January 1, 1974, and before the date on which section 1052 of this title first becomes ef- fective with respect to such plan) which provides that any employee’s participation in the plan would commence at any date later than the later of— (A) the date on which his participation would commence under the break in service rules of section 1052(b) of this title, or (B) the date

Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1081

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