SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in section 5621 of this title.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in section 1106a of this title.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in section 2339B of this title; title 8 sections 1189, 1531.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in section 81a of this title.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in sections 3533, 3535 of this title.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in section 5602 of this title.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in sections 77uuu, 78c, 79z–5, 80a–45, 80b–18 of this title.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in sections 78ccc, 78fff, 78fff–4 of this title. Sec.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in sections 1202, 1426, 1461 of this title.
(a) Maintenance of funding standard account; amount of accumulated funding deficiency
(1) For any plan year for which a plan is in re- organization—
(A) the plan shall continue to maintain its funding standard account while it is in reorga- nization, and
(B) the plan’s accumulated funding defi- ciency under section 1082(a) of this title for such plan year shall be equal to the excess (if any) of—
(i) the sum of the minimum contribution requirement for such plan year (taking into account any overburden credit under section 1424(a) of this title) plus the plan’s accumu- lated funding deficiency for the preceding plan year (determined under this section if the plan was in reorganization during such year or under section 1082(a) of this title if the plan was not in reorganization), over
(ii) amounts considered contributed by em- ployers to or under the plan for the plan year (increased by any amount waived under subsection (f) of this section for the plan year).
(2) For purposes of paragraph (1), withdrawal liability payments (whether or not received) which are due with respect to withdrawals be- fore the end of the base plan year shall be con- sidered amounts contributed by the employer to or under the plan if, as of the adjustment date, it was reasonable for the plan sponsor to xxxxxx- xxxx that such payments would be made during the plan year.
SECTION REFERRED TO IN OTHER SECTIONS. This section is referred to in sections 1202, 1422, 1423, 1461 of this title.
(a) Amendment of multiemployer plan in reorga- nization to reduce or eliminate accrued ben- efits attributable to employer contributions ineligible for guarantee of corporation; ad- justment of vested benefits charge to reflect plan amendment
(1) Notwithstanding sections 1053 and 1054 of this title, a multiemployer plan in reorganiza- tion may be amended in accordance with this section, to reduce or eliminate accrued benefits attributable to employer contributions which, under section 1322a(b) of this title, are not eligi- ble for the corporation’s guarantee. The preced- ing sentence shall only apply to accrued benefits under plan amendments (or plans) adopted after March 26, 1980, or under collective bargaining agreements entered into after March 26, 1980.
(2) In determining the minimum contribution requirement with respect to a plan for a plan year under section 1423(b) of this title, the vest- ed benefits charge may be adjusted to reflect a plan amendment reducing benefits under this section or section 412(c)(8) of title 26, but only if the amendment is adopted and effective no later than 21⁄2 months after the end of the plan year, or within such extended period as the Secretary of the Treasury may prescribe by regulation under section 412(c)(10) of title 26.
(b) Reduction of accrued benefits; notice by plan sponsors to plan participants and bene- ficiaries
(1) Accrued benefits may not be reduced under this section unless—
(A) notice has been given, at least 6 months before the first day of the plan year in which the amendment reducing benefits is adopted, to—
(i) plan participants and beneficiaries,
(ii) each employer who has an obligation to contribute (within the meaning of section 1392(a) of this title) under the plan, and
(iii) each employee organization which, for purposes of collective bargaining, represents plan participants employed by such an em- ployer, that the plan is in reorganization and that, if contributions under the plan are not in- creased, accrued benefits under the plan will be reduced or an excise tax will be imposed on employers;
(B) in accordance with regulations pre- scribed by the Secretary of the Treasury—
(i) any category of accrued benefits is not reduced with respect to inactive participants to a greater extent proportionally than such category of accrued benefits is reduced with respect to active participants,
(ii) benefits attributable to emplo...
