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29 U.S.C. § 1402 — Reimbursements for uncollectible withdrawal liability
Federal law — U.S. Code and appendices · legal_authorities
**(a) Required supplemental program to reimburse for payments due from employers uncollectible as a result of employer involvement in bankruptcy case or proceedings; program participation, premiums, etc.** By May 1, 1982, the corporation shall establish by regulation a supplemental program to reimburse multiemployer plans for withdrawal liability payments which are due from employers and which are determined to be uncollectible for reasons arising out of cases or proceedings involving the employers under title 11, or similar cases or proceedings. Participation in the supplemental program shall be on a voluntary basis, and a plan which elects coverage under the program shall pay premiums to the corporation in accordance with a premium schedule which shall be prescribed from time to time by the corporation. The premium schedule shall contain such rates and bases for the application of such rates as the corporation considers to be appropriate.
**(b) Discretionary supplemental program to reimburse for payments due from employers uncollectible for other appropriate reasons** The corporation may provide under the program for reimbursement of amounts of withdrawal liability determined to be uncollectible for any other reasons the corporation considers appropriate.
**(c) Payment of cost of program** The cost of the program (including such administrative and legal costs as the corporation considers appropriate) may be paid only out of premiums collected under such program.
**(d) Terms and conditions, limitations, etc., of supplemental program** The supplemental program may be offered to eligible plans on such terms and conditions, and with such limitations with respect to the payment of reimbursements (including the exclusion of de minimis amounts of uncollectible employer li
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1402
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Stable record: federal_law:legal_authorities:record_usc_ed2567db1560e08accfd768f
Source file: Laws/federal/codes/united-states-code/title-29/section-1402-reimbursements-for-uncollectible-withdrawal-liability--e5d2a0168a.md
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Passage SHA-256: 397858fd41d11cece9762e1d55aaaeafc3cfb6f9e81a87bc46a822699354df12
Source location: Title 29, Chapter 18, § 1402; chapter-018-employee-retirement-income-security-program.md
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**(a) Required supplemental program to reimburse for payments due from employers uncollectible as a result of employer involvement in bankruptcy case or proceedings; program participation, premiums, etc.** By May 1, 1982, the corporation shall establish by regulation a supplemental program to reimburse multiemployer plans for withdrawal liability payments which are due from employers and which are determined to be uncollectible for reasons arising out of cases or proceedings involving the employers under title 11, or similar cases or proceedings. Participation in the supplemental program shall be on a voluntary basis, and a plan which elects coverage under the program shall pay premiums to the corporation in accordance with a premium schedule which shall be prescribed from time to time by the corporation. The premium schedule shall contain such rates and bases for the application of such rates as the corporation considers to be appropriate.
**(b) Discretionary supplemental program to reimburse for payments due from employers uncollectible for other appropriate reasons** The corporation may provide under the program for reimbursement of amounts of withdrawal liability determined to be uncollectible for any other reasons the corporation considers appropriate.
**(c) Payment of cost of program** The cost of the program (including such administrative and legal costs as the corporation considers appropriate) may be paid only out of premiums collected under such program.
**(d) Terms and conditions, limitations, etc., of supplemental program** The supplemental program may be offered to eligible plans on such terms and conditions, and with such limitations with respect to the payment of reimbursements (including the exclusion of de minimis amounts of uncollectible employer liability, and the reduction or elimination of reimbursements which cannot be paid from collected premiums) and such restrictions on withdrawal from the program, as the corporation considers necessary and appropriate.
**(e) Arrangements by corporation with private insurers for implementation of program; election of coverage by participating plans with private insurers** The corporation may enter into arrangements with private insurers to carry out in whole or in part the program authorized by this section and may require plans which elect coverage under the program to elect coverage by those private insurers.
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Federal law — U.S. Code and appendices · legal_authorities
**(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
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
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
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
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
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of or participation in fund by plan sponsors** The plan sponsors of multiemployer plans may establish or participate in a withdrawal liability payment fund.
**(b) Definitions** For purposes of this section, the term “withdrawal liability payment fund”, and the term “fund”, mean a trust which—
(1) is established and maintained under [section 501(c)(22) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section501/c/22&num=0&edition=prelim),
(2) maintains agreements which cover a substantial portion of the participants who are in multiemployer plans which (under the rules of the trust instrument) are eligible to participate in the fund,
(3) is funded by amounts paid by the plans which participate in the fund, and
(4) is administered by a Board of Trustees, and in the administration of the fund there is equal representation of—
(A) trustees representing employers who are obligated to contribute to the plans participating in the fund, and
(B) trustees representing employees who are participants in plans which participate in the fund.
**(c) Payments to plan; amount, criteria, etc.**
(1) If an employer withdraws from a plan which participates in a withdrawal liability payment fund, then, to the extent provided in the trust, the fund shall pay to that plan—
(A) the employer’s unattributable liability,
(B) the employer’s withdrawal liability payments which would have been due but for section 1388, 1389, 1399, or 1405 of this title,11 So in original. Probably should be followed by “and”.
(C) the employer’s withdrawal liability payments to the extent they are uncollectible.
(2) The fund may provide for the payment of the employer’s attributable liability if the fund—
(A) provides for the payment of both
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1403
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 717
TITLE 29—LABOR
§ 1402
(i) employs not more than 500 employees,
and
(ii) is required to make contributions to
the plan for not more than 250 employees.
(B) CONTROLLED GROUP.—Any group treated
as a single employer under subsection (b)(1) of
section 1301 of this title, without regard to any
transaction that was a basis for the plan’s
finding under section 1392 of this title, shall be
treated as a single employer for purposes of
this subparagraph.
(4) ADDITIONAL SECURITY PENDING RESOLUTION
OF DISPUTE.—If a withdrawal liability dispute to
which this subsection applies is not concluded
by 12 months after the electing person posts the
bond or escrow described in paragraph (2), the
electing person shall, at the start of each suc-
ceeding 12-month period, provide an additional
bond or amount held in escrow equal to the sum
of the withdrawal liability payments that would
otherwise be payable to the plan during that pe-
riod.
(5) The liability of the party furnishing a bond
or escrow under this subsection shall be reduced,
upon the payment of the bond or escrow to the
plan, by the amount thereof.
(Pub. L. 93–406, title IV, § 4221, as added Pub. L.
96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1239;
amended Pub. L. 108–218, title II, § 202(a), Apr. 10,
2004, 118 Stat. 608; Pub. L. 109–280, title II,
§ 204(d)(1), Aug. 17, 2006, 120 Stat. 887; Pub. L.
110–458, title I, § 105(b)(2), Dec. 23, 2008, 122 Stat.
5105.)
Editorial Notes
AMENDMENTS
2008—Subsecs. (e) to (g). Pub. L. 110–458 redesignated
subsecs. (f) and (g) as (e) and (f), respectively, and
struck out former subsec. (e). Prior to amendment, text
read as follows: ‘‘If any employer requests in writing
that the plan sponsor make available to the employer
general information necess
Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1402
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.