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29 U.S.C. § 1403 — Withdrawal liability payment fund
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
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Source file: Laws/federal/codes/united-states-code/title-29/section-1403-withdrawal-liability-payment-fund--3100e1eb67.md
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Source location: Title 29, Chapter 18, § 1403; chapter-018-employee-retirement-income-security-program.md
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**(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 the attributable and the unattributable liability of the employer in a single payment, and
(B) is subrogated to all rights of the plan against the employer.
(3) For purposes of this section, the term—
(A) “attributable liability” means the excess, if any, determined under the provisions of a plan not inconsistent with regulations of the corporation, of—
(i) the value of vested benefits accrued as a result of service with the employer, over
(ii) the value of plan assets attributed to the employer, and
(B) “unattributable liability” means the excess of withdrawal liability over attributable liability.
Such terms may be further defined, and the manner in which they shall be applied may be prescribed, by the corporation by regulation.
(4)
(A) The trust of a fund shall be maintained for the exclusive purpose of paying—
(i) any amount described in paragraph (1) and paragraph (2), and
(ii) reasonable and necessary administrative expenses in connection with the establishment and operation of the trust and the processing of claims against the fund.
(B) The amounts paid by a plan to a fund shall be deemed a reasonable expense of administering the plan under sections 1103(c)(1) and 1104(a)(1)(A)(ii) of this title, and the payments made by a fund to a participating plan shall be deemed services necessary for the operation of the plan within the meaning of [section 1108(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1108/b/2&num=0&edition=prelim) or within the meaning of [section 4975(d)(2) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section4975/d/2&num=0&edition=prelim).
**(d) Application of payments by plan**
(1) For purposes of this part—
(A) only amounts paid by the fund to a plan under subsection (c)(1)(A) shall be credited to withdrawal liability otherwise payable by the employer, unless the plan otherwise provides, and
(B) any amounts paid by the fund under subsection (c) to a plan shall be treated by the plan as a payment of withdrawal liability to such plan.
(2) For purposes of applying provisions relating to the funding standard accounts (and minimum contribution requirements), amounts paid from the plan to the fund shall be applied to reduce the amount treated as contributed to the plan.
**(e) Subrogation of fund to rights of plan** The fund shall be subrogated to the rights of the plan against the employer that has withdrawn from the plan for amounts paid by a fund to a plan under—
(1) subsection (c)(1)(A), to the extent not credited under subsection (d)(1)(A), and
(2) subsection (c)(1)(C).
**(f) Discharge of rights of fiduciary of fund; standards applicable, etc.** Notwithstanding any other provision of this chapter, a fiduciary of the fund shall discharge the fiduciary’s duties with respect to the fund in accordance with the standards for fiduciaries prescribed by this chapter (to the extent not inconsistent with the purposes of this section), and in accordance with the documents and instruments governing the fund insofar as such documents and instruments are consistent with the provisions of this chapter (to the extent not inconsistent with the purposes of this section). The provisions of the preceding sentence shall supersede any and all State laws relating to fiduciaries insofar as they may now or hereafter relate to a fund to which this section applies.
**(g) Prohibition on payments from fund to plan where certain labor negotiations involve employer withdrawn or partially withdrawn from plan and continuity of labor organization representing employees continues** No payments shall be made from a fund to a plan on the occasion of a withdrawal or partial withdrawal of an employer from such plan if the employees representing the withdrawn contribution base units continue, after such withdrawal, to be represented under [section 159 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section159&num=0&edition=prelim) (or other applicable labor laws) in negotiations with such employer by the labor organization which represented such employees immediately preceding such withdrawal.
**(h) Purchase of insurance by employer** Nothing in this section shall be construed to prohibit the purchase of insurance by an employer from any other person, to limit the circumstances under which such insurance would be payable, or to limit in any way the terms and conditions of such insurance.
**(i) Promulgation of regulations for establishment and maintenance of fund** The corporation may provide by regulation rules not inconsistent with this section governing the establishment and maintenance of funds, but only to the extent necessary to carry out the purposes of this part (other than [section 1402 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1402&num=0&edition=prelim)).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Exclusive representatives; employees’ adjustment of grievances directly with employer** Representatives designated or selected for the purposes of collective bargaining by the majority of the employees in a unit appropriate for such purposes, shall be the exclusive representatives of all the employees in such unit for the purposes of collective bargaining in respect to rates of pay, wages, hours of employment, or other conditions of employment: Provided, That any individual employee or a group of employees shall have the right at any time to present grievances to their employer and to have such grievances adjusted, without the intervention of the bargaining representative, as long as the adjustment is not inconsistent with the terms of a collective-bargaining contract or agreement then in effect: Provided further, That the bargaining representative has been given opportunity to be present at such adjustment.
**(b) Determination of bargaining unit by Board** The Board shall decide in each case whether, in order to assure to employees the fullest freedom in exercising the rights guaranteed by this subchapter, the unit appropriate for the purposes of collective bargaining shall be the employer unit, craft unit, plant unit, or subdivision thereof: Provided, That the Board shall not (1) decide that any unit is appropriate for such purposes if such unit includes both professional employees and employees who are not professional employees unless a majority of such professional employees vote for inclusion in such unit; or (2) decide that any craft unit is inappropriate for such purposes on the ground that a different unit has been established by a prior Board determination, unless a majority of the employees in the proposed craft unit vote against separate representatio
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 159
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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
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
**(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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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) Exemption from taxation** An organization described in subsection (c) or (d) or section 401(a) shall be exempt from taxation under this subtitle unless such exemption is denied under section 502 or 503.
**(b) Tax on unrelated business income and certain other activities** An organization exempt from taxation under subsection (a) shall be subject to tax to the extent provided in parts II, III, and VI of this subchapter, but (notwithstanding parts II, III, and VI of this subchapter) shall be considered an organization exempt from income taxes for the purpose of any law which refers to organizations exempt from income taxes.
**(c) List of exempt organizations** The following organizations are referred to in subsection (a):
(1) Any corporation organized under Act of Congress which is an instrumentality of the United States but only if such corporation—
(A) is exempt from Federal income taxes—
(i) under such Act as amended and supplemented before July 18, 1984, or
(ii) under this title without regard to any provision of law which is not contained in this title and which is not contained in a revenue Act, or
(B) is described in subsection (l).
(2) Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt under this section. Rules similar to the rules of subparagraph (G) of paragraph (25) shall apply for purposes of this paragraph.
(3) Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition (but only
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 501
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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
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Federal law — U.S. Code and appendices · legal_authorities
Page 718
TITLE 29—LABOR
§ 1403
1 So in original. Probably should be followed by ‘‘and’’.
§ 1403. Withdrawal liability payment fund
(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 ‘‘with-
drawal liability payment fund’’, and the term
‘‘fund’’, mean a trust which—
(1) is established and maintained under sec-
tion 501(c)(22) of title 26,
(2) maintains agreements which cover a sub-
stantial portion of the participants who are in
multiemployer plans which (under the rules of
the trust instrument) are eligible to partici-
pate 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 par-
ticipating 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 pay-
ment 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 pay-
ments which would have been due but for sec-
tion 1388, 1389, 1399, or 1405 of this title,1
(C) the employer’s withdrawal liability pay-
ments 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 the at-
tributable a
Source: Supplied 2024 U.S. Code historical extraction · 29 U.S.C. § 1403
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.