29 U.S.C. § 1057 — Repealed. Pub. L. 109–280, title I, § 108(d),

Page 441 TITLE 29—LABOR § 1057 1984—Subsec. (d)(3). Pub. L. 98–397 added par. (3). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2022 AMENDMENT Amendment by section 339(b) of Pub. L. 117–328 appli- cable to domestic relations orders received by plan ad- ministrators after Dec. 31, 2022, including any such order which is submitted for reconsideration after such date, see section 339(c) of Pub. L. 117–328, set out as a note under section 414 of Title 26, Internal Revenue Code. EFFECTIVE DATE OF 2014 AMENDMENT Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of Title 26, Internal Revenue Code. Amendment by Pub. L. 113–159 applicable to plan years beginning after Dec. 31, 2014, except as otherwise provided, see section 2003(c)(3) of Pub. L. 113–159, set out as a note under section 436 of Title 26, Internal Rev- enue Code. Amendment by Pub. L. 113–97 applicable to years be- ginning after Dec. 31, 2013, see section 3 of Pub. L. 113–97, set out as a note under section 401 of Title 26, In- ternal Revenue Code. EFFECTIVE DATE OF 2008 AMENDMENT Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amend- ment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code. EFFECTIVE DATE OF 2006 AMENDMENT Amendment by section 103(a) of Pub. L. 109–280 appli- cable to plan years beginning after Dec. 31, 2007, with collective bargaining exception, see section 103(c) of Pub. L. 109–280, set out as a note under section 1021 of this title. Amendment by section 108(a)(9), (10) of Pub. L. 109–280 applicable to plan years beginning after 2007, see sec- tion 108(e) of Pub. L. 109–280, set out as a note under section 1021 of this title. Pub. L. 109–280, title IV, § 410(c), Aug. 17, 2006, 120 Stat. 935, provided that: ‘‘The amendments made by this section [amending this section and section 1350 of this title] shall apply to distributions made after final regulations implementing subsections (c) and (d) of sec- tion 4050 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1350(c), (d)] (as added by sub- section (a)), respectively, are prescribed.’’ EFFECTIVE DATE OF 1997 AMENDMENT Amendment by Pub. L. 105–34 applicable to judg- ments, orders, and decrees issued, and settlement agreements entered into, on or after Aug. 5, 1997, see section 1502(c) of Pub. L. 105–34, set out as a note under section 401 of Title 26, Internal Revenue Code. EFFECTIVE DATE OF 1994 AMENDMENT Pub. L. 103–465, title VII, § 761(b), Dec. 8, 1994, 108 Stat. 5034, provided that: ‘‘(1) IN GENERAL.—Except as provided in paragraph (2), the amendments made by this section [amending this section and sections 1082, 1132, and 1301 of this title] shall apply to plan years beginning after December 31, 1994. ‘‘(2) CONTRIBUTING SPONSOR.—The amendment made by subsection (a)(11) [amending section 1301 of this title] shall be effective as if included in the Pension Protection Act [Pub. L. 100–203, title IX, subtitle D, part II, §§ 9302–9346].’’ Pub. L. 103–465, title VII, § 776(e), Dec. 8, 1994, 108 Stat. 5048, provided that: ‘‘The provisions of this section [en- acting section 1350 of this title and amending this sec- tion and sections 1303, 1305, and 1341 of this title and section 401 of Title 26, Internal Revenue Code] shall be effective with respect to distributions that occur in plan years commencing after final regulations imple- menting these provisions are prescribed by the Pension Benefit Guaranty Corporation.’’ [Final implementing regulations were issued Nov. 22, 1995, effective for dis- tributions in plan years beginning on or after Jan. 1, 1996. See 60 F.R. 61740.] EFFECTIVE DATE OF 1989 AMENDMENT Amendment by section 7891(a)(1) of Pub. L. 101–239 ef- fective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 7891(f) of Pub. L. 101–239, set out as a note under section 1002 of this title. Amendment by section 7894(c)(8) of Pub. L. 101–239 ef- fective, except as otherwise provided, as if originally included in the provision of the Employee Retirement Income Security Act of 1974, Pub. L. 93–406, to which such amendment relates, see section 7894(i) of Pub. L. 101–239, set out as a note under section 1002 of this title. Pub. L. 101–239, title VII, § 7894(c)(9)(B), Dec. 19, 1989, 103 Stat. 2449, provided that: ‘‘The amendment made by subparagraph (A) [amending this section] shall take ef- fect as if included in section 104 of the Retirement Eq- uity Act of 1984 [Pub. L. 98–397].’’ EFFECTIVE DATE OF 1986 AMENDMENT Amendment by Pub. L. 99–514 effective as if included in the provision of the Retirement Equity Act of 1984, Pub. L. 98–397, to which such amendment relates, ex- cept as otherwise provided, see section 1898(j) of Pub. L. 99–514, set out as a note under section 401 of Title 26, In- ternal Revenue Code. EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–397 effective Jan. 1, 1985, except as otherwise provided, see section 303(d) of Pub. L. 98–397, set out as a note under section 1001 of this title. APPLICABILITY OF AMENDMENTS BY SUBTITLES A AND B OF TITLE I OF PUB. L. 109–280 For special rules on applicability of amendments by subtitles A (§§ 101–108) and B (§§ 111–116) of title I of Pub. L. 109–280 to certain eligible cooperative plans, PBGC settlement plans, and eligible government contractor plans, see sections 104, 105, and 106 of Pub. L. 109–280, set out as notes under section 401 of Title 26, Internal Revenue Code. PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1989 For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, set out as a note under section 401 of Title 26, Internal Revenue Code. § 1057. Repealed. Pub. L. 109–280, title I, § 108(d), formerly § 107(d), Aug. 17, 2006, 120 Stat. 820, renumbered Pub. L. 111–192, title II, § 202(a), June 25, 2010, 124 Stat. 1297 Section, Pub. L. 93–406, title I, § 207, Sept. 2, 1974, 88 Stat. 865, related to temporary variances from certain vesting requirements. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal applicable to plan years beginning after 2007, see section 108(e) of Pub. L. 109–280, set out as an Effec- tive Date of 2006 Amendment note under section 1021 of this title. Page 442 TITLE 29—LABOR § 1058 § 1058. Mergers and consolidations of plans or transfers of plan assets A pension plan may not merge or consolidate with, or transfer its assets or liabilities to, any other plan after September 2, 1974, unless each participant in the plan would (if the plan then terminated) receive a benefit immediately after the merger, consolidation, or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately be- fore the merger, consolidation, or transfer (if the plan had then terminated). The preceding sentence shall not apply to any transaction to the extent that participants either before or after the transaction are covered under a multi- employer plan to which subchapter III of this chapter applies. (Pub. L. 93–406, title I, § 208, Sept. 2, 1974, 88 Stat. 865; Pub. L. 96–364, title IV, § 402(b)(1), Sept. 26, 1980, 94 Stat. 1299.) Editorial Notes AMENDMENTS 1980—Pub. L. 96–364 substituted provisions respecting applicability of preceding sentence to transactions under a covered multiemployer plan to which sub- chapter III applies, for provisions relating to applica- bility of paragraph to a multiemployer plan only to ex- tent determined by Corporation. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96–364 effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title. § 1059. Recordkeeping and reporting require- ments (a)(1) Except as provided by paragraph (2) every employer shall, in accordance with such regulations as the Secretary may prescribe, maintain records with respect to each of his em- ployees sufficient to determine the benefits due or which may become due to such employees. The plan administrator shall make a report, in such manner and at such time as may be pro- vided in regulations prescribed by the Secretary, to each employee who is a participant under the plan and who— (A) requests such report, in such manner and at such time as may be provided in such regu- lations, (B) terminates his service with the em- ployer, or (C) has a 1-year break in service (as defined in section 1053(b)(3)(A) of this title). The employer shall furnish to the plan adminis- trator the information necessary for the admin- istrator to make the reports required by the pre- ceding sentence. Not more than one report shall be required under subparagraph (A) in any 12- month period. Not more than one report shall be required under subparagraph (C) with respect to consecutive 1-year breaks in service. The report required under this paragraph shall be in the same form, and contain the same information, as periodic benefit statements under section 1025(a) of this title. (2) If more than one employer adopts a plan, each such employer shall furnish to the plan ad- ministrator the information necessary for the administrator to maintain the records, and make the reports, required by paragraph (1). Such administrator shall maintain the records, and make the reports, required by paragraph (1). (b) If any person who is required, under sub- section (a), to furnish information or maintain records for any plan year fails to comply with such requirement, he shall pay to the Secretary a civil penalty of $10 for each employee with re- spect to whom such failure occurs, unless it is shown that such failure is due to reasonable cause. (Pub. L. 93–406, title I, § 209, Sept. 2, 1974, 88 Stat. 865; Pub. L. 110–458, title I, § 105(f), Dec. 23, 2008, 122 Stat. 5105.) Editorial Notes AMENDMENTS 2008—Subsec. (a)(1). Pub. L. 110–458, § 105(f)(1), in in- troductory provisions, substituted ‘‘such regulations as the Secretary may prescribe’’ for ‘‘regulations pre- scribed by the Secretary’’ and, in concluding provi- sions, inserted last sentence and struck out former last sentence which read as follows: ‘‘The report required under this paragraph shall be sufficient to inform the employee of his accrued benefits under the plan and the percentage of such benefits which are nonforfeitable under the plan.’’ Subsec. (a)(2). Pub. L. 110–458, § 105(f)(2), added par. (2) and struck out former par. (2) which read as follows: ‘‘If more than one employer adopts a plan, each such em- ployer shall, in accordance with regulations prescribed by the Secretary, furnish to the plan administrator the information necessary for the administrator to main- tain the records and make the reports required by para- graph (1). Such administrator shall maintain the records and, to the extent provided under regulations prescribed by the Secretary, make the reports, required by paragraph (1).’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2008 AMENDMENT Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amend- ment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code. REGULATIONS Secretary authorized, effective Sept. 2, 1974, to pro- mulgate regulations wherever provisions of this sub- chapter call for the promulgation of regulations, see section 1031 of this title. § 1060. Multiple employer plans and other special rules (a) Plan maintained by more than one employer Notwithstanding any other provision of this part or part 3, the following provisions of this subsection shall apply to a plan maintained by more than one employer: (1) Section 1052 of this title shall be applied as if all employees of each of the employers were employed by a single employer. (2) Sections 1053 and 1054 of this title shall be applied as if all such employers constituted a single employer, except that the application of any rules with respect to breaks in service