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29 U.S.C. § 1307 — Payment of premiums
Federal law — U.S. Code and appendices · legal_authorities
**(a) Premiums payable when due; accrual; waiver or reduction** The designated payor of each plan shall pay the premiums imposed by the corporation under this subchapter with respect to that plan when they are due. Premiums under this subchapter are payable at the time, and on an estimated, advance, or other basis, as determined by the corporation. Premiums imposed by this subchapter on September 2, 1974 (applicable to that portion of any plan year during which such date occurs) are due within 30 days after such date. Premiums imposed by this subchapter on the first plan year commencing after September 2, 1974, are due within 30 days after such plan year commences. Premiums shall continue to accrue until a plan’s assets are distributed pursuant to a termination procedure, or until a trustee is appointed pursuant to [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), whichever is earlier. The corporation may waive or reduce premiums for a multiemployer plan for any plan year during which such plan receives financial assistance from the corporation under [section 1431 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1431&num=0&edition=prelim), except that any amount so waived or reduced shall be treated as financial assistance under such section.
**(b) Late payment charge; waiver; interest on overpayment**
(1) If any basic benefit premium is not paid when it is due the corporation is authorized to assess a late payment charge of not more than 100 percent of the premium payment which was not timely paid. The preceding sentence shall not apply to any payment of premium made within 60 days after the date on which payment is due, if before such date, th
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Source file: Laws/federal/codes/united-states-code/title-29/section-1307-payment-of-premiums--a3104c9675.md
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Source location: Title 29, Chapter 18, § 1307; chapter-018-employee-retirement-income-security-program.md
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**(a) Premiums payable when due; accrual; waiver or reduction** The designated payor of each plan shall pay the premiums imposed by the corporation under this subchapter with respect to that plan when they are due. Premiums under this subchapter are payable at the time, and on an estimated, advance, or other basis, as determined by the corporation. Premiums imposed by this subchapter on September 2, 1974 (applicable to that portion of any plan year during which such date occurs) are due within 30 days after such date. Premiums imposed by this subchapter on the first plan year commencing after September 2, 1974, are due within 30 days after such plan year commences. Premiums shall continue to accrue until a plan’s assets are distributed pursuant to a termination procedure, or until a trustee is appointed pursuant to [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), whichever is earlier. The corporation may waive or reduce premiums for a multiemployer plan for any plan year during which such plan receives financial assistance from the corporation under [section 1431 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1431&num=0&edition=prelim), except that any amount so waived or reduced shall be treated as financial assistance under such section.
**(b) Late payment charge; waiver; interest on overpayment**
(1) If any basic benefit premium is not paid when it is due the corporation is authorized to assess a late payment charge of not more than 100 percent of the premium payment which was not timely paid. The preceding sentence shall not apply to any payment of premium made within 60 days after the date on which payment is due, if before such date, the designated payor obtains a waiver from the corporation based upon a showing of substantial hardship arising from the timely payment of the premium. The corporation is authorized to grant a waiver under this subsection upon application made by the designated payor, but the corporation may not grant a waiver if it appears that the designated payor will be unable to pay the premium within 60 days after the date on which it is due. If any premium is not paid by the last date prescribed for a payment, interest on the amount of such premium at the rate imposed under [section 6601(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6601/a&num=0&edition=prelim) (relating to interest on underpayment, nonpayment, or extensions of time for payment of tax) shall be paid for the period from such last date to the date paid.
(2) The corporation is authorized to pay, subject to regulations prescribed by the corporation, interest on the amount of any overpayment of premium refunded to a designated payor. Interest under this paragraph shall be calculated at the same rate and in the same manner as interest is calculated for underpayments under paragraph (1).
**(c) Civil action to recover premium penalty and interest** If any designated payor fails to pay a premium when due, the corporation is authorized to bring a civil action in any district court of the United States within the jurisdiction of which the plan assets are located, the plan is administered, or in which a defendant resides or is found for the recovery of the amount of the premium penalty, and interest, and process may be served in any other district. The district courts of the United States shall have jurisdiction over actions brought under this subsection by the corporation without regard to the amount in controversy.
**(d) Basic benefits guarantee not stopped by designated payor’s failure to pay premiums when due** The corporation shall not cease to guarantee basic benefits on account of the failure of a designated payor to pay any premium when due.
**(e) Designated payor**
(1) For purposes of this section, the term “designated payor” means—
(A) the contributing sponsor or plan administrator in the case of a single-employer plan, and
(B) the plan administrator in the case of a multiemployer plan.
(2) If the contributing sponsor of any single-employer plan is a member of a controlled group, each member of such group shall be jointly and severally liable for any premiums required to be paid by such contributing sponsor. For purposes of the preceding sentence, the term “controlled group” means any group treated as a single employer under subsection (b), (c), (m), or (o) of [section 414 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section414&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to institute proceedings to terminate a plan** The corporation may institute proceedings under this section to terminate a plan whenever it determines that—
(1) the plan has not met the minimum funding standard required under [section 412 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section412&num=0&edition=prelim), or has been notified by the Secretary of the Treasury that a notice of deficiency under [section 6212 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6212&num=0&edition=prelim) has been mailed with respect to the tax imposed under [section 4971(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section4971/a&num=0&edition=prelim),
(2) the plan will be unable to pay benefits when due,
(3) the reportable event described in [section 1343(c)(7) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1343/c/7&num=0&edition=prelim) has occurred, or
(4) the possible long-run loss of the corporation with respect to the plan may reasonably be expected to increase unreasonably if the plan is not terminated.
The corporation shall as soon as practicable institute proceedings under this section to terminate a single-employer plan whenever the corporation determines that the plan does not have assets available to pay benefits which are currently due under the terms of the plan. The corporation may prescribe a simplified procedure to follow in terminating small plans as long as that procedure includes substantial safeguards for the rights of the participants and beneficiaries under the plans, and for the employers who maintain such plans (including the requirement for a court decree under subsection (c)). Not
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1342
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of four revolving funds on books of Treasury of the United States** There are established on the books of the Treasury of the United States four revolving funds to be used by the corporation in carrying out its duties under this subchapter. One of the funds shall be used with respect to basic benefits guaranteed under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim), one of the funds shall be used with respect to basic benefits guaranteed under [section 1322a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322a&num=0&edition=prelim), one of the funds shall be used with respect to nonbasic benefits guaranteed under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim) (if any), and the remaining fund shall be used with respect to nonbasic benefits guaranteed under [section 1322a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322a&num=0&edition=prelim) (if any), other than subsection (g)(2) thereof (if any). Whenever in this subchapter reference is made to the term “fund” the reference shall be considered to refer to the appropriate fund established under this subsection.
**(b) Credits to funds; availability of funds; investment of moneys in excess of current needs**
(1) Each fund established under this section shall be credited with the appropriate portion of—
(A) premiums, penalties, interest, and charges collected under this subchapter,
(B) the value of the assets of a plan administered under [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1305
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Service for predecessor employer** For purposes of this part—
(1) in any case in which the employer maintains a plan of a predecessor employer, service for such predecessor shall be treated as service for the employer, and
(2) in any case in which the employer maintains a plan which is not the plan maintained by a predecessor employer, service for such predecessor shall, to the extent provided in regulations prescribed by the Secretary, be treated as service for the employer.
**(b) Employees of controlled group of corporations**
(1) **In general** — For purposes of sections 401, 408(k), 408(p), 410, 411, 415, and 416, all employees of all corporations which are members of a controlled group of corporations (within the meaning of section 1563(a), determined without regard to section 1563(a)(4) and (e)(3)(C)) shall be treated as employed by a single employer. With respect to a plan adopted by more than one such corporation, the applicable limitations provided by section 404(a) shall be determined as if all such employers were a single employer, and allocated to each employer in accordance with regulations prescribed by the Secretary.
(2) **Special rules for applying family attribution** — For purposes of applying the attribution rules under section 1563 with respect to paragraph (1), the following rules apply:
(A) Community property laws shall be disregarded for purposes of determining ownership.
(B) Except as provided by the Secretary, stock of an individual not attributed under section 1563(e)(5) to such individual’s spouse shall not be attributed to such spouse by reason of the combined application of paragraphs (1) and (6)(A) of section 1563(e).
(C) Except as provided by the Secretary, in the case of stock in different corporations that is attribut
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 414
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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
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
**(a) Investigatory authority; audit of statistically significant number of terminating plans** The corporation may make such investigations as it deems necessary to enforce any provision of this subchapter or any rule or regulation thereunder, and may require or permit any person to file with it a statement in writing, under oath or otherwise as the corporation shall determine, as to all the facts and circumstances concerning the matter to be investigated. The corporation shall annually audit a statistically significant number of plans terminating under [section 1341(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341/b&num=0&edition=prelim) to determine whether participants and beneficiaries have received their benefit commitments and whether [section 1350(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1350/a&num=0&edition=prelim) has been satisfied. Each audit shall include a statistically significant number of participants and beneficiaries.
**(b) Discovery powers vested in board members or officers designated by the chairman** For the purpose of any such investigation, or any other proceeding under this subchapter, the Director, any member of the board of directors of the corporation, or any officer designated by the Director or chairman, may administer oaths and affirmations, subpena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, or other records which the corporation deems relevant or material to the inquiry.
**(c) Contempt** In the case of contumacy by, or refusal to obey a subpena issued to, any person, the corporation may invoke the aid of any court of the United States within the jurisd
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1303
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Schedules for premium rates and bases for application; establishment, coverage, etc.**
(1) The corporation shall prescribe such schedules of premium rates and bases for the application of those rates as may be necessary to provide sufficient revenue to the fund for the corporation to carry out its functions under this subchapter. The premium rates charged by the corporation for any period shall be uniform for all plans, other than multiemployer plans, insured by the corporation with respect to basic benefits guaranteed by it under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim), and shall be uniform for all multiemployer plans with respect to basic benefits guaranteed by it under [section 1322a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322a&num=0&edition=prelim).
(2) The corporation shall maintain separate schedules of premium rates, and bases for the application of those rates, for—
(A) basic benefits guaranteed by it under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim) for single-employer plans,
(B) basic benefits guaranteed by it under [section 1322a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322a&num=0&edition=prelim) for multiemployer plans,
(C) nonbasic benefits guaranteed by it under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim) for single-employer plans,
(D) nonbasic benefits guaranteed by it under [section 1322a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1306
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In any case in which a single-employer plan is terminated in a distress termination under [section 1341(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341/c&num=0&edition=prelim) or a termination otherwise instituted by the corporation under [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), any person who is, on the termination date, a contributing sponsor of the plan or a member of such a contributing sponsor’s controlled group shall incur liability under this section. The liability under this section of all such persons shall be joint and several. The liability under this section consists of—
(1) liability to the corporation, to the extent provided in subsection (b), and
(2) liability to the trustee appointed under subsection (b) or (c) of [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), to the extent provided in subsection (c).
**(b) Liability to corporation**
(1) **Amount of liability**
(A) *In general* — Except as provided in subparagraph (B), the liability to the corporation of a person described in subsection (a) shall be the total amount of the unfunded benefit liabilities (as of the termination date) to all participants and beneficiaries under the plan, together with interest (at a reasonable rate) calculated from the termination date in accordance with regulations prescribed by the corporation.
(B) *Special rule in case of subsequent insufficiency* — For purposes of subparagraph (A), in any case described in [section 1341(c)(3)(C)(ii) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-se
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1362
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Special financial assistance**
(1) **In general** — The corporation shall provide special financial assistance to an eligible multiemployer plan under this section, upon the application of a plan sponsor of such a plan for such assistance.
(2) **Inapplicability of certain repayment obligation** — A plan receiving special financial assistance pursuant to this section shall not be subject to repayment obligations with respect to such special financial assistance.
**(b) Eligible multiemployer plans**
(1) **In general** — For purposes of this section, a multiemployer plan is an eligible multiemployer plan if—
(A) the plan is in critical and declining status (within the meaning of [section 1085(b)(6) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1085/b/6&num=0&edition=prelim)) in any plan year beginning in 2020 through 2022;
(B) a suspension of benefits has been approved with respect to the plan under [section 1085(e)(9) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1085/e/9&num=0&edition=prelim) as of March 11, 2021;
(C) in any plan year beginning in 2020 through 2022, the plan is certified by the plan actuary to be in critical status (within the meaning of [section 1085(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1085/b/2&num=0&edition=prelim)), has a modified funded percentage of less than 40 percent, and has a ratio of active to inactive participants which is less than 2 to 3; or
(D) the plan became insolvent for purposes of [section 418E of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section418E&num=0&edition=prelim) after December 16, 2014, and has remained so insolvent an
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1432
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Federal law — U.S. Code and appendices · legal_authorities
Page 650
TITLE 29—LABOR
§ 1307
§ 1307. Payment of premiums
(a) Premiums payable when due; accrual; waiver
or reduction
The designated payor of each plan shall pay
the premiums imposed by the corporation under
this subchapter with respect to that plan when
they are due. Premiums under this subchapter
are payable at the time, and on an estimated,
advance, or other basis, as determined by the
corporation. Premiums imposed by this sub-
chapter on September 2, 1974 (applicable to that
portion of any plan year during which such date
occurs) are due within 30 days after such date.
Premiums imposed by this subchapter on the
first plan year commencing after September 2,
1974, are due within 30 days after such plan year
commences. Premiums shall continue to accrue
until a plan’s assets are distributed pursuant to
a termination procedure, or until a trustee is
appointed pursuant to section 1342 of this title,
whichever is earlier. The corporation may waive
or reduce premiums for a multiemployer plan
for any plan year during which such plan re-
ceives financial assistance from the corporation
under section 1431 of this title, except that any
amount so waived or reduced shall be treated as
financial assistance under such section.
(b) Late payment charge; waiver; interest on
overpayment
(1) If any basic benefit premium is not paid
when it is due the corporation is authorized to
assess a late payment charge of not more than
100 percent of the premium payment which was
not timely paid. The preceding sentence shall
not apply to any payment of premium made
within 60 days after the date on which payment
is due, if before such date, the designated payor
obtains a waiver from the corporation based
upon a showing of substantial hardship arising
from the t
Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1307
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.