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29 U.S.C. § 1461 — Effective date; special rules
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The provisions of this subchapter take effect on September 2, 1974.
**(b)** Notwithstanding the provisions of subsection (a), the corporation shall pay benefits guaranteed under this subchapter with respect to any plan—
(1) which is not a multiemployer plan,
(2) which terminates after June 30, 1974, and before September 2, 1974,
(3) to which [section 1321 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1321&num=0&edition=prelim) would apply if that section were effective beginning on July 1, 1974, and
(4) with respect to which a notice is filed with the Secretary of Labor and received by him not later than 10 days after September 2, 1974, except that, for reasonable cause shown, such notice may be filed with the Secretary of Labor and received by him not later than October 31, 1974, stating that the plan is a plan described in paragraphs (1), (2), and (3).
The corporation shall not pay benefits guaranteed under this subchapter with respect to a plan described in the preceding sentence unless the corporation finds substantial evidence that the plan was terminated for a reasonable business purpose and not for the purpose of obtaining the payment of benefits by the corporation under this subchapter or for the purpose of avoiding the liability which might be imposed under subtitle D if the plan terminated on or after September 2, 1974. The provisions of subtitle D do not apply in the case of such a plan which terminates before September 2, 1974. For purposes of determining whether a plan is a plan described in paragraph (2), the provisions of [section 1348 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1348&num=0&edition=prelim) shall not apply, but the corporation shall make
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Source file: Laws/federal/codes/united-states-code/title-29/section-1461-effective-date-special-rules--ade0b9776b.md
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Source location: Title 29, Chapter 18, § 1461; chapter-018-employee-retirement-income-security-program.md
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**(a)** The provisions of this subchapter take effect on September 2, 1974.
**(b)** Notwithstanding the provisions of subsection (a), the corporation shall pay benefits guaranteed under this subchapter with respect to any plan—
(1) which is not a multiemployer plan,
(2) which terminates after June 30, 1974, and before September 2, 1974,
(3) to which [section 1321 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1321&num=0&edition=prelim) would apply if that section were effective beginning on July 1, 1974, and
(4) with respect to which a notice is filed with the Secretary of Labor and received by him not later than 10 days after September 2, 1974, except that, for reasonable cause shown, such notice may be filed with the Secretary of Labor and received by him not later than October 31, 1974, stating that the plan is a plan described in paragraphs (1), (2), and (3).
The corporation shall not pay benefits guaranteed under this subchapter with respect to a plan described in the preceding sentence unless the corporation finds substantial evidence that the plan was terminated for a reasonable business purpose and not for the purpose of obtaining the payment of benefits by the corporation under this subchapter or for the purpose of avoiding the liability which might be imposed under subtitle D if the plan terminated on or after September 2, 1974. The provisions of subtitle D do not apply in the case of such a plan which terminates before September 2, 1974. For purposes of determining whether a plan is a plan described in paragraph (2), the provisions of [section 1348 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1348&num=0&edition=prelim) shall not apply, but the corporation shall make the determination on the basis of the date on which benefits ceased to accrue or on any other reasonable basis consistent with the purposes of this subsection.
**(c)**
(1) Except as provided in paragraphs (2), (3), and (4), the corporation shall not pay benefits guaranteed under this subchapter with respect to a multiemployer plan which terminates before August 1, 1980. Whenever the corporation exercises the authority granted under paragraph (2) or (3), the corporation shall notify the Committee on Education and Labor and the Committee on Ways and Means of the House of Representatives, and the Committee on Labor and Public Welfare and the Committee on Finance of the Senate.
(2) The corporation may, in its discretion, pay benefits guaranteed under this subchapter with respect to a multiemployer plan which terminates after September 2, 1974 and before August 1, 1980, if—
(A) the plan was maintained during the 60 months immediately preceding the date on which the plan terminates, and
(B) the corporation determines that the payment by the corporation of benefits guaranteed under this subchapter with respect to that plan will not jeopardize the payments the corporation anticipates it may be required to make in connection with benefits guaranteed under this subchapter with respect to multiemployer plans which terminate after July 31, 1980.
(3) Notwithstanding any provision of section 1321 or 1322 of this title which would prevent such payments, the corporation, in carrying out its authority under paragraph (2), may pay benefits guaranteed under this subchapter with respect to a multiemployer plan described in paragraph (2) in any case in which those benefits would otherwise not be payable if—
(A) the plan has been in effect for at least 5 years,
(B) the plan has been in substantial compliance with the funding requirements for a qualified plan with respect to the employees and former employees in those employment units on the basis of which the participating employers have contributed to the plan for the preceding 5 years, and
(C) the participating employers and employee organization or organizations had no reasonable recourse other than termination.
(4) If the corporation determines, under paragraph (2) or (3), that it will pay benefits guaranteed under this subchapter with respect to a multiemployer plan which terminates before August 1, 1980, the corporation—
(A) may establish requirements for the continuation of payments which commenced before January 2, 1974, with respect to retired participants under the plan,
(B) may not, notwithstanding any other provision of this subchapter, make payments with respect to any participant under such a plan who, on January 1, 1974, was receiving payment of retirement benefits, in excess of the amounts and rates payable with respect to such participant on that date,
(C) shall review from time to time payments made under the authority granted to it by paragraphs (2) and (3), and reduce or terminate such payments to the extent necessary to avoid jeopardizing the ability of the corporation to make payments of benefits guaranteed under this subchapter in connection with multiemployer plans which terminate after July 31, 1980, without increasing premium rates for such plans.
**(d)** Notwithstanding any other provision of this subchapter, guaranteed benefits payable by the corporation pursuant to its discretionary authority under this section shall continue to be paid at the level guaranteed under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim), without regard to any limitation on payment under subparagraph (C) of subsection (c)(4).
**(e)**
(1) Except as provided in paragraphs (2), (3), and (4), the amendments to this chapter made by the Multiemployer Pension Plan Amendments Act of 1980 shall take effect on September 26, 1980.
(2)
(A) Except as provided in this paragraph, part 1 of subtitle E, relating to withdrawal liability, takes effect on September 26, 1980.
(B) For purposes of determining withdrawal liability under part 1 of subtitle E, an employer who has withdrawn from a plan shall be considered to have withdrawn from a multiemployer plan if, at the time of the withdrawal, the plan was a multiemployer plan as defined in [section 1301(a)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1301/a/3&num=0&edition=prelim) as in effect at the time of the withdrawal.
(3) Sections 1421 through 1426 11 See References in Text note below. of this title, relating to multiemployer plan reorganization, shall take effect, with respect to each plan, on the first day of the first plan year beginning on or after the earlier of—
(A) the date on which the last collective bargaining agreement providing for employer contributions under the plan, which was in effect on September 26, 1980, expires, without regard to extensions agreed to on or after September 26, 1980, or
(B) 3 years after September 26, 1980.
(4) [Section 1415 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1415&num=0&edition=prelim) shall take effect on September 26, 1980.
**(f)**
(1) In the event that before September 26, 1980, the corporation has determined that—
(A) an employer has withdrawn from a multiemployer plan under [section 1363 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1363&num=0&edition=prelim), and
(B) the employer is liable to the corporation under such section,
the corporation shall retain the amount of liability paid to it or furnished in the form of a bond and shall pay such liability to the plan in the event the plan terminates in accordance with [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) before the earlier of September 26, 1985, or the day after the 5-year period commencing on the date of such withdrawal.
(2) In any case in which the plan is not so terminated within the period described in paragraph (1), the liability of the employer is abated and any payment held in escrow shall be refunded without interest to the employer or the employer’s bond shall be cancelled.
**(g)**
(1) In any case in which an employer or employers withdrew from a multiemployer plan before the effective date of part 1 of subtitle E, the corporation may—
(A) apply [section 1363(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1363/d&num=0&edition=prelim), as in effect before the amendments made by the Multiemployer Pension Plan Amendments Act of 1980, to such plan,
(B) assess liability against the withdrawn employer with respect to the resulting terminated plan,
(C) guarantee benefits under the terminated plan under [section 1322 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1322&num=0&edition=prelim), as in effect before such amendments, and
(D) if necessary, enforce such action through suit brought under [section 1303 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1303&num=0&edition=prelim).
(2) The corporation shall use the revolving fund used by the corporation 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) in guaranteeing benefits under a terminated plan described in this subsection.
**(h)**
(1) In the case of an employer who entered into a collective bargaining agreement—
(A) which was effective on January 12, 1979, and which remained in effect through May 15, 1982, and
(B) under which contributions to a multiemployer plan were to cease on January 12, 1982,
any withdrawal liability incurred by the employer pursuant to part 1 of subtitle E as a result of the complete or partial withdrawal of the employer from the multiemployer plan before January 16, 1982, shall be void.
(2) In any case in which—
(A) an employer engaged in the grocery wholesaling business—
(i) had ceased all covered operations under a multiemployer plan before June 30, 1981, and had relocated its operations to a new facility in another State, and
(ii) had notified a local union representative on May 14, 1980, that the employer had tentatively decided to discontinue operations and relocate to a new facility in another State, and
(B) all State and local approvals with respect to construction of and commencement of operations at the new facility had been obtained, a contract for construction had been entered into, and construction of the new facility had begun before September 26, 1980,
any withdrawal liability incurred by the employer pursuant to part 1 of subtitle E as a result of the complete or partial withdrawal of the employer from the multiemployer plan before June 30, 1981, shall be void.
**(i)** The preceding provisions of this section shall not apply with respect to amendments made to this subchapter in provisions enacted after October 22, 1986.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** Except as otherwise provided in this section, gross income of an employee does not include employer-provided coverage under an accident or health plan.
**(b) Contributions to Archer MSAs**
(1) **In general** — In the case of an employee who is an eligible individual, amounts contributed by such employee’s employer to any Archer MSA of such employee shall be treated as employer-provided coverage for medical expenses under an accident or health plan to the extent such amounts do not exceed the limitation under section 220(b)(1) (determined without regard to this subsection) which is applicable to such employee for such taxable year.
(2) **No constructive receipt** — No amount shall be included in the gross income of any employee solely because the employee may choose between the contributions referred to in paragraph (1) and employer contributions to another health plan of the employer.
(3) **Special rule for deduction of employer contributions** — Any employer contribution to an Archer MSA, if otherwise allowable as a deduction under this chapter, shall be allowed only for the taxable year in which paid.
(4) **Employer MSA contributions required to be shown on return** — Every individual required to file a return under section 6012 for the taxable year shall include on such return the aggregate amount contributed by employers to the Archer MSAs of such individual or such individual’s spouse for such taxable year.
(5) **MSA contributions not part of COBRA coverage** — Paragraph (1) shall not apply for purposes of section 4980B.
(6) **Definitions** — For purposes of this subsection, the terms “eligible individual” and “Archer MSA” have the respective meanings given to such terms by section 220.
(7) **Cross reference** — For penalty on failure b
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Federal law — U.S. Code and appendices · legal_authorities
**(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
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to transfer from old plan to new plan pursuant to employee participation in another multiemployer plan after certified change of representative** In any case in which an employer has completely or partially withdrawn from a multiemployer plan (hereafter in this section referred to as the “old plan”) as a result of a certified change of collective bargaining representative occurring after September 25, 1980, if participants of the old plan who are employed by the employer will, as a result of that change, participate in another multiemployer plan (hereafter in this section referred to as the “new plan”), the old plan shall transfer assets and liabilities to the new plan in accordance with this section.
**(b) Notification by employer of plan sponsor of old plan; notification by plan sponsor of old plan of employer and plan sponsor of new plan; appeal by new plan to prevent transfer; further proceedings**
(1) The employer shall notify the plan sponsor of the old plan of a change in multiemployer plan participation described in subsection (a) no later than 30 days after the employer determines that the change will occur.
(2) The plan sponsor of the old plan shall—
(A) notify the employer of—
(i) the amount of the employer’s withdrawal liability determined under part 1 of this subtitle with respect to the withdrawal,
(ii) the old plan’s intent to transfer to the new plan the nonforfeitable benefits of the employees who are no longer working in covered service under the old plan as a result of the change of bargaining representative, and
(iii) the amount of assets and liabilities which are to be transferred to the new plan, and
(B) notify the plan sponsor of the new plan of the benefits, assets, and liabilities which will be transferred
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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
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** For purposes of this subchapter the termination date of a single-employer plan is—
(1) in the case of a plan terminated in a standard termination in accordance with the provisions of [section 1341(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341/b&num=0&edition=prelim), the termination date proposed in the notice provided under [section 1341(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341/a/2&num=0&edition=prelim),
(2) in the case of a plan terminated in a distress termination in accordance with the provisions of [section 1341(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341/c&num=0&edition=prelim), the date established by the plan administrator and agreed to by the corporation,
(3) in the case of a plan terminated in accordance with the provisions of [section 1342 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1342&num=0&edition=prelim), the date established by the corporation and agreed to by the plan administrator, or
(4) in the case of a plan terminated under section 1341(c) or 1342 of this title in any case in which no agreement is reached between the plan administrator and the corporation (or the trustee), the date established by the court.
**(b)** For purposes of this subchapter, the date of termination of a multiemployer plan is—
(1) in the case of a plan terminated in accordance with the provisions of [section 1341a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1341a&num=0&edition=prelim), the date determined under subsection (b) of that section; or
(2) in the case of a plan terminated in accordance with the
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Energy credit**
(1) **In general** — For purposes of section 46, except as provided in paragraphs (1)(B), (2)(B), and (3)(B) of subsection (c), the energy credit for any taxable year is the energy percentage of the basis of each energy property placed in service during such taxable year.
(2) **Energy percentage**
(A) *In general* — Except as provided in paragraphs (6) and (7), the energy percentage is—
(i) 6 percent in the case of—
(I) qualified fuel cell property,
(II) energy property described in clause (i) or (iii) of paragraph (3)(A) but only with respect to property the construction of which begins before January 1, 2025,
(III) energy property described in paragraph (3)(A)(ii),
(IV) qualified small wind energy property,
(V) waste energy recovery property,
(VI) energy storage technology,
(VII) qualified biogas property,
(VIII) microgrid controllers, and
(IX) energy property described in clauses (v) and (vii) of paragraph (3)(A), and
(ii) in the case of any energy property to which clause (i) does not apply, 0 percent.
(B) *Coordination with rehabilitation credit* — The energy percentage shall not apply to that portion of the basis of any property which is attributable to qualified rehabilitation expenditures.
(C) *Nonapplication of increases to energy percentage* — For purposes of energy property described in subparagraph (A)(ii), the energy percentage applicable to such property pursuant to such subparagraph shall not be increased or otherwise adjusted by any provision of this section.
(3) **Energy property** — For purposes of this subpart, the term “energy property” means any property—
(A) which is—
(i) equipment which uses solar energy to generate electricity, to he
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Single-employer plans with two or more contributing sponsors** Except as provided in subsection (d), the plan administrator of a single-employer plan which has two or more contributing sponsors at least two of whom are not under common control—
(1) shall notify the corporation of the withdrawal during a plan year of a substantial employer for such plan year from the plan, within 60 days after such withdrawal, and
(2) request that the corporation determine the liability of all persons with respect to the withdrawal of the substantial employer.
The corporation shall, as soon as practicable thereafter, determine whether there is liability resulting from the withdrawal of the substantial employer and notify the liable persons of such liability.
**(b) Computation of liability** Except as provided in subsection (c), any one or more contributing sponsors who withdraw, during a plan year for which they constitute a substantial employer, from a single-employer plan which has two or more contributing sponsors at least two of whom are not under common control, shall, upon notification of such contributing sponsors by the corporation as provided by subsection (a), be liable, together with the members of their controlled groups, to the corporation in accordance with the provisions of [section 1362 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1362&num=0&edition=prelim) and this section. The amount of liability shall be computed on the basis of an amount determined by the corporation to be the amount described in [section 1362 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1362&num=0&edition=prelim) for the entire plan, as if the plan had been terminated by the corporation on the date of
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Nonforfeitable benefits** Subject to the limitations contained in subsection (b), the corporation shall guarantee, in accordance with this section, the payment of all nonforfeitable benefits (other than benefits becoming nonforfeitable solely on account of the termination of a plan) under a single-employer plan which terminates at a time when this subchapter applies to it.
**(b) Exceptions**
(1) Except to the extent provided in paragraph (7)—
(A) no benefits provided by a plan which has been in effect for less than 60 months at the time the plan terminates shall be guaranteed under this section, and
(B) any increase in the amount of benefits under a plan resulting from a plan amendment which was made, or became effective, whichever is later, within 60 months before the date on which the plan terminates shall be disregarded.
(2) For purposes of this subsection, the time a successor plan (within the meaning of [section 1321(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1321/a&num=0&edition=prelim)) has been in effect includes the time a previously established plan (within the meaning of [section 1321(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1321/a&num=0&edition=prelim)) was in effect. For purposes of determining what benefits are guaranteed under this section in the case of a plan to which [section 1321 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1321&num=0&edition=prelim) does not apply on September 3, 1974, the 60-month period referred to in paragraph (1) shall be computed beginning on the first date on which such section does apply to the plan.
(3) The amount of monthly benefits described in subsection (a) p
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** If an employer withdraws from a multiemployer plan in a complete withdrawal or a partial withdrawal, then the employer is liable to the plan in the amount determined under this part to be the withdrawal liability.
**(b)** For purposes of subsection (a)—
(1) The withdrawal liability of an employer to a plan is the amount determined under [section 1391 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1391&num=0&edition=prelim) to be the allocable amount of unfunded vested benefits, adjusted—
(A) first, by any de minimis reduction applicable under [section 1389 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1389&num=0&edition=prelim),
(B) next, in the case of a partial withdrawal, in accordance with [section 1386 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1386&num=0&edition=prelim),
(C) then, to the extent necessary to reflect the limitation on annual payments under [section 1399(c)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1399/c/1/B&num=0&edition=prelim), and
(D) finally, in accordance with [section 1405 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1405&num=0&edition=prelim).
(2) The term “complete withdrawal” means a complete withdrawal described in [section 1383 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1383&num=0&edition=prelim).
(3) The term “partial withdrawal” means a partial withdrawal described in [section 1385 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1385&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Benefits of covered plans subject to guarantee** The corporation shall guarantee, in accordance with this section, the payment of all nonforfeitable benefits (other than benefits becoming nonforfeitable solely on account of the termination of a plan) under a multiemployer plan—
(1) to which this subchapter applies, and
(2) which is insolvent under section 1426(b) or 1441(d)(2) of this title.
**(b) Benefits or benefit increases not eligible for guarantee**
(1)
(A) For purposes of this section, a benefit or benefit increase which has been in effect under a plan for less than 60 months is not eligible for the corporation’s guarantee. For purposes of this paragraph, any month of any plan year during which the plan was insolvent or terminated (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)) shall not be taken into account.
(B) For purposes of this section, a benefit or benefit increase which has been in effect under a plan for less than 60 months before the first day of the plan year for which an amendment reducing the benefit or the benefit increase is taken into account under section 1425(a)(2) 11 See References in Text note below. of this title in determining the minimum contribution requirement for the plan year under section 1423(b) 1 of this title is not eligible for the corporation’s guarantee.
(2) For purposes of this section—
(A) the date on which a benefit or a benefit increase under a plan is first in effect is the later of—
(i) the date on which the documents establishing or increasing the benefit were executed, or
(ii) the effective date of the benefit or benefit increase;
(B) the period of time for which a benef
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1322a
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