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29 U.S.C. § 1397 — Application of part in case of certain pre-1980 withdrawals; adjustment of covered plan
Federal law — U.S. Code and appendices · legal_authorities
**(a)** For the purpose of determining the amount of unfunded vested benefits allocable to an employer for a partial or complete withdrawal from a plan which occurs after September 25, 1980, and for the purpose of determining whether there has been a partial withdrawal after such date, the amount of contributions, and the number of contribution base units, of such employer properly allocable—
(1) to work performed under a collective bargaining agreement for which there was a permanent cessation of the obligation to contribute before September 26, 1980, or
(2) to work performed at a facility at which all covered operations permanently ceased before September 26, 1980, or for which there was a permanent cessation of the obligation to contribute before that date,
shall not be taken into account.
**(b)** A plan may, in a manner not inconsistent with regulations, which shall be prescribed by the corporation, adjust the amount of unfunded vested benefits allocable to other employers under a plan maintained by an employer described in subsection (a).
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Source file: Laws/federal/codes/united-states-code/title-29/section-1397-application-of-part-in-case-of-certain-pre-1980-withdrawals-adjustment-o--1ff5e9be4d.md
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Source location: Title 29, Chapter 18, § 1397; chapter-018-employee-retirement-income-security-program.md
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**(a)** For the purpose of determining the amount of unfunded vested benefits allocable to an employer for a partial or complete withdrawal from a plan which occurs after September 25, 1980, and for the purpose of determining whether there has been a partial withdrawal after such date, the amount of contributions, and the number of contribution base units, of such employer properly allocable—
(1) to work performed under a collective bargaining agreement for which there was a permanent cessation of the obligation to contribute before September 26, 1980, or
(2) to work performed at a facility at which all covered operations permanently ceased before September 26, 1980, or for which there was a permanent cessation of the obligation to contribute before that date,
shall not be taken into account.
**(b)** A plan may, in a manner not inconsistent with regulations, which shall be prescribed by the corporation, adjust the amount of unfunded vested benefits allocable to other employers under a plan maintained by an employer described in subsection (a).
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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).
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1381
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Federal law — U.S. Code and appendices · legal_authorities
Page 712
TITLE 29—LABOR
§ 1397
1 See References in Text note below.
required to make contributions for the
prior plan year if the employer had not
withdrawn, multiplied by
(ii) the contribution rate for the plan
year which would be required to meet the
amortization schedules contained in sec-
tion 1423(d)(3)(B)(ii) 1 of this title (deter-
mined without regard to any limitation on
such rate otherwise provided by this sub-
chapter)
except that an employer shall not be required
to pay an amount in excess of the withdrawal
liability computed with interest; and
(2) the withdrawal liability of an employer
who withdraws after December 31, 1983, as a re-
sult of a termination described in section
1341a(a)(2) of this title which is agreed to by
the labor organization that appoints the em-
ployee representative on the joint board of
trustees which sponsors the plan, shall be de-
termined under subsection (c) if—
(A) as a result of prior employer with-
drawals in any plan year commencing after
January 1, 1980, the number of contribution
base units is reduced to less than 67 percent
of the average number of such units for the
calendar years 1974 through 1979; and
(B) at least 50 percent of the withdrawal li-
ability attributable to the first 33 percent
decline described in subparagraph (A) has
been determined by the plan sponsor to be
uncollectible within the meaning of regula-
tions of the corporation of general applica-
bility; and
(C) the rate of employer contributions
under the plan for each plan year following
the first plan year beginning after Sep-
tember 26, 1980 and preceding the termi-
nation date equals or exceeds the rate de-
scribed in section 1423(d)(3) 1 of this title.
(b) Covered plans
A plan is described in this subsection if—
(1) it is a
Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1397
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