§ 1002. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 29USC1002]
TITLE 29--LABOR
CHAPTER 18--EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
SUBCHAPTER I--PROTECTION OF EMPLOYEE BENEFIT RIGHTS
Subtitle A--General Provisions
Sec. 1002. Definitions
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
(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.
(B) The Secretary may by regulation prescribe rules consistent with
the standards and purposes of this chapter providing one or more exempt
categories under which--
(i) severance pay arrangements, and
(ii) supplemental retirement income payments, under which the
pension benefits of retirees or their beneficiaries are supplemented
to take into account some portion or all of the increases in the
cost of living (as determined by the Secretary of Labor) since
retirement,
shall, for purposes of this subchapter, be treated as welfare plans
rather than pension plans. In the case of any arrangement or payment a
principal effect of which is the evasion of the standards or purposes of
this chapter applicable to pension plans, such arrangement or payment
shall be treated as a pension plan.
(3) The term ``employee benefit plan'' or ``plan'' means an employee
welfare benefit plan or an employee pension benefit plan or a plan which
is both an employee welfare benefit plan and an employee pension benefit
plan.
(4) The term ``employee organization'' means any labor union or any
organization of any kind, or any agency or employee representation
committee, association, group, or plan, in which employees participate
and which exists for the purpose, in whole or in part, of dealing with
employers concerning an employee benefit plan, or other matters
incidental to employment relationships; or any employees' beneficiary
association organized for the purpose in whole or in part, of
establishing such a plan.
(5) The term ``employer'' means any person acting directly as an
employer, or indirectly in the interest of an employer, in relation to
an employee benefit plan; and includes a group or association of
employers acting for an employer in such capacity.
(6) The term ``employee'' means any individual employed by an
employer.
(7) The term ``participant'' means any employee or former employee
of an employer, or any member or former member of an employee
organization, who is or may become eligible to receive a benefit of any
type from an employee benefit plan which covers employees of such
employer or members of such organization, or whose beneficiaries may be
eligible to receive any such benefit.
(8) The term ``beneficiary'' means a person designated by a
participant, or by the terms of an employee benefit plan, who is or may
become entitled to a benefit thereunder.
(9) The term ``person'' means an individual, partnership, joint
venture, corporation, mutual company, joint-stock company, trust,
estate, unincorporated organization, association, or employee
organization.
(10) The term ``State'' includes any State of the United States, the
District of Columbia, Puerto Rico, the Virgin Islands, American Samoa,
Guam, Wake Island, and the Canal Zone. The term ``United States'' when
used in the geographic sense means the States and the Outer Continental
Shelf lands defined in the Outer Continental Shelf Lands Act (43 U.S.C.
1331-1343).
(11) The term ``commerce'' means trade, traffic, commerce,
transportation, or communication between any State and any place outside
thereof.
(12) The term ``industry or activity affecting commerce'' means any
activity, business, or industry in commerce or in which a labor dispute
would hinder or obstruct commerce or the free flow of commerce, and
includes any activity or industry ``affecting commerce'' within the
meaning of the Labor Management Relations Act, 1947 [29 U.S.C. 141 et
seq.], or the Railway Labor Act [45 U.S.C. 151 et seq.].
(13) The term ``Secretary'' means the Secretary of Labor.
(14) The term ``party in interest'' means, as to an employee benefit
plan--
(A) any fiduciary (including, but not limited to, any
administrator, officer, trustee, or custodian), counsel, or employee
of such employee benefit plan;
(B) a person providing services to such plan;
(C) an employer any of whose employees are covered by such plan;
(D) an employee organization any of whose members are covered by
such plan;
(E) an owner, direct or indirect, of 50 percent or more of--
(i) the combined voting power of all classes of stock
entitled to vote or the total value of shares of all classes of
stock of a corporation.\1\
---------------------------------------------------------------------------
\1\ So in original. The period probably should be a comma.
---------------------------------------------------------------------------
(ii) the capital interest or the profits interest of a
partnership, or
(iii) the beneficial interest of a trust or unincorporated
enterprise,
which is an employer or an employee organization described in
subparagraph (C) or (D);
(F) a relative (as defined in paragraph (15)) of any individual
described in subparagraph (A), (B), (C), or (E);
(G) a corporation, partnership, or trust or estate of which (or
in which) 50 percent or more of--
(i) the combined voting power of all classes of stock
entitled to vote or the total value of shares of all classes of
stock of such corporation,
(ii) the capital interest or profits interest of such
partnership, or
(iii) the beneficial interest of such trust or estate,
is owned directly or indirectly, or held by persons described in
subparagraph (A), (B), (C), (D), or (E);
(H) an employee, officer, director (or an individual having
powers or responsibilities similar to those of officers or
directors), or a 10 percent or more shareholder directly or
indirectly, of a person described in subparagraph (B), (C), (D),
(E), or (G), or of the employee benefit plan; or
(I) a 10 percent or more (directly or indirectly in capital or
profits) partner or joint venturer of a person described in
subparagraph (B), (C), (D), (E), or (G).
The Secretary, after consultation and coordination with the Secretary of
the Treasury, may by regulation prescribe a percentage lower than 50
percent for subparagraph (E) and (G) and lower than 10 percent for
subparagraph (H) or (I). The Secretary may prescribe regulations for
determining the ownership (direct or indirect) of profits and beneficial
interests, and the manner in which indirect stockholdings are taken into
account. Any person who is a party in interest with respect to a plan to
which a trust described in section 501(c)(22) of title 26 is permitted
to make payments under section 1403 of this title shall be treated as a
party in interest with respect to such trust.
(15) The term ``relative'' means a spouse, ancestor, lineal
descendant, or spouse of a lineal descendant.
(16)(A) The term ``administrator'' means--
(i) the person specifically so designated by the terms of the
instrument under which the plan is operated;
(ii) if an administrator is not so designated, the plan sponsor;
or
(iii) in the case of a plan for which an administrator is not
designated and a plan sponsor cannot be identified, such other
person as the Secretary may by regulation prescribe.
(B) The term ``plan sponsor'' means (i) the employer in the case of
an employee benefit plan established or maintained by a single employer,
(ii) the employee organization in the case of a plan established or
maintained by an employee organization, or (iii) in the case of a plan
established or maintained by two or more employers or jointly by one or
more employers and one or more employee organizations, the association,
committee, joint board of trustees, or other similar group of
representatives of the parties who establish or maintain the plan.
(17) The term ``separate account'' means an account established or
maintained by an insurance company under which income, gains, and
losses, whether or not realized, from assets allocated to such account,
are, in accordance with the applicable contract, credited to or charged
against such account without regard to other income, gains, or losses of
the insurance company.
(18) The term ``adequate consideration'' when used in part 4 of
subtitle B of this subchapter means (A) in the case of a security for
which there is a generally recognized market, either (i) the price of
the security prevailing on a national securities exchange which is
registered under section 78f of title 15, or (ii) if the security is not
traded on such a national securities exchange, a price not less
favorable to the plan than the offering price for the security as
established by the current bid and asked prices quoted by persons
independent of the issuer and of any party in interest; and (B) in the
case of an asset other than a security for which there is a generally
recognized market, the fair market value of the asset as determined in
good faith by the trustee or named fiduciary pursuant to the terms of
the plan and in accordance with regulations promulgated by the
Secretary.
(19) The term ``nonforfeitable'' when used with respect to a pension
benefit or right means a claim obtained by a participant or his
beneficiary to that part of an immediate or deferred benefit under a
pension plan which arises from the participant's service, which is
unconditional, and which is legally enforceable against the plan. For
purposes of this paragraph, a right to an accrued benefit derived from
employer contributions shall not be treated as forfeitable merely
because the plan contains a provision described in section 1053(a)(3) of
this title.
(20) The term ``security'' has the same meaning as such term has
under section 77b(1) \2\ of title 15.
---------------------------------------------------------------------------
\2\ See References in Text note below.
---------------------------------------------------------------------------
(21)(A) Except as otherwise provided in subparagraph (B), a person
is a fiduciary with respect to a plan to the extent (i) he exercises any
discretionary authority or discretionary control respecting management
of such plan or exercises any authority or control respecting management
or disposition of its assets, (ii) he renders investment advice for a
fee or other compensation, direct or indirect, with respect to any
moneys or other property of such plan, or has any authority or
responsibility to do so, or (iii) he has any discretionary authority or
discretionary responsibility in the administration of such plan. Such
term includes any person designated under section 1105(c)(1)(B) of this
title.
(B) If any money or other property of an employee benefit plan is
invested in securities issued by an investment company registered under
the Investment Company Act of 1940 [15 U.S.C. 80a-1 et seq.], such
investment shall not by itself cause such investment company or such
investment company's investment adviser or principal underwriter to be
deemed to be a fiduciary or a party in interest as those terms are
defined in this subchapter, except insofar as such investment company or
its investment adviser or principal underwriter acts in connection with
an employee benefit plan covering employees of the investment company,
the investment adviser, or its principal underwriter. Nothing contained
in this subparagraph shall limit the duties imposed on such investment
company, investment adviser, or principal underwriter by any other law.
(22) The term ``normal retirement benefit'' means the greater of the
early retirement benefit under the plan, or the benefit under the plan
commencing at normal retirement age. The normal retirement benefit shall
be determined without regard to--
(A) medical benefits, and
(B) disability benefits not in excess of the qualified
disability benefit.
For purposes of this paragraph, a qualified disability benefit is a
disability benefit provided by a plan which does not exceed the benefit
which would be provided for the participant if he separated from the
service at normal retirement age. For purposes of this paragraph, the
early retirement benefit under a plan shall be determined without regard
to any benefit under the plan which the Secretary of the Treasury finds
to be a benefit described in section 1054(b)(1)(G) of this title.
(23) The term ``accrued benefit'' means--
(A) in the case of a defined benefit plan, the individual's
accrued benefit determined under the plan and, except as provided in
section 1054(c)(3) of this title, expressed in the form of an annual
benefit commencing at normal retirement age, or
(B) in the case of a plan which is an individual account plan,
the balance of the individual's account.
The accrued benefit of an employee shall not be less than the amount
determined under section 1054(c)(2)(B) of this title with respect to the
employee's accumulated contribution.
(24) The term ``normal retirement age'' means the earlier of--
(A) the time a plan participant attains normal retirement age
under the plan, or
(B) the later of--
(i) the time a plan participant attains age 65, or
(ii) the 5th anniversary of the time a plan participant
commenced participation in the plan.
(25) The term ``vested liabilities'' means the present value of the
immediate or deferred benefits available at normal retirement age for
participants and their beneficiaries which are nonforfeitable.
(26) The term ``current value'' means fair market value where
available and otherwise the fair value as determined in good faith by a
trustee or a named fiduciary (as defined in section 1102(a)(2) of this
title) pursuant to the terms of the plan and in accordance with
regulations of the Secretary, assuming an orderly liquidation at the
time of such determination.
(27) The term ``present value'', with respect to a liability, means
the value adjusted to reflect anticipated events. Such adjustments shall
conform to such regulations as the Secretary of the Treasury may
prescribe.
(28) The term ``normal service cost'' or ``normal cost'' means the
annual cost of future pension benefits and administrative expenses
assigned, under an actuarial cost method, to years subsequent to a
particular valuation date of a pension plan. The Secretary of the
Treasury may prescribe regulations to carry out this paragraph.
(29) The term ``accrued liability'' means the excess of the present
value, as of a particular valuation date of a pension plan, of the
projected future benefit costs and administrative expenses for all plan
participants and beneficiaries over the present value of future
contributions for the normal cost of all applicable plan participants
and beneficiaries. The Secretary of the Treasury may prescribe
regulations to carry out this paragraph.
(30) The term ``unfunded accrued liability'' means the excess of the
accrued liability, under an actuarial cost method which so provides,
over the present value of the assets of a pension plan. The Secretary of
the Treasury may prescribe regulations to carry out this paragraph.
(31) The term ``advance funding actuarial cost method'' or
``actuarial cost method'' means a recognized actuarial technique
utilized for establishing the amount and incidence of the annual
actuarial cost of pension plan benefits and expenses. Acceptable
actuarial cost methods shall include the accrued benefit cost method
(unit credit method), the entry age normal cost method, the individual
level premium cost method, the aggregate cost method, the attained age
normal cost method, and the frozen initial liability cost method. The
terminal funding cost method and the current funding (pay-as-you-go)
cost method are not acceptable actuarial cost methods. The Secretary of
the Treasury shall issue regulations to further define acceptable
actuarial cost methods.
(32) The term ``governmental plan'' means a plan established or
maintained for its employees by the Government of the United States, by
the government of any State or political subdivision thereof, or by any
agency or instrumentality of any of the foregoing. The term
``governmental plan'' also includes any plan to which the Railroad
Retirement Act of 1935, or 1937 [45 U.S.C. 231 et seq.] applies, and
which is financed by contributions required under that Act and any plan
of an international organization which is exempt from taxation under the
provisions of the International Organizations Immunities Act [22 U.S.C.
288 et seq.].
(33)(A) The term ``church plan'' means a plan established and
maintained (to the extent required in clause (ii) of subparagraph (B))
for its employees (or their beneficiaries) by a church or by a
convention or association of churches which is exempt from tax under
section 501 of title 26.
(B) The term ``church plan'' does not include a plan--
(i) which is established and maintained primarily for the
benefit of employees (or their beneficiaries) of such church or
convention or association of churches who are employed in connection
with one or more unrelated trades or businesses (within the meaning
of section 513 of title 26), or
(ii) if less than substantially all of the individuals included
in the plan are individuals described in subparagraph (A) or in
clause (ii) of subparagraph (C) (or their beneficiaries).
(C) For purposes of this paragraph--
(i) A plan established and maintained for its employees (or
their beneficiaries) by a church or by a convention or association
of churches includes a plan maintained by an organization, whether a
civil law corporation or otherwise, the principal purpose or
function of which is the administration or funding of a plan or
program for the provision of retirement benefits or welfare
benefits, or both, for the employees of a church or a convention or
association of churches, if such organization is controlled by or
associated with a church or a convention or association of churches.
(ii) The term employee of a church or a convention or
association of churches includes--
(I) a duly ordained, commissioned, or licensed minister of a
church in the exercise of his ministry, regardless of the source
of his compensation;
(II) an employee of an organization, whether a civil law
corporation or otherwise, which is exempt from tax under section
501 of title 26 and which is controlled by or associated with a
church or a convention or association of churches; and
(III) an individual described in clause (v).
(iii) A church or a convention or association of churches which
is exempt from tax under section 501 of title 26 shall be deemed the
employer of any individual included as an employee under clause
(ii).
(iv) An organization, whether a civil law corporation or
otherwise, is associated with a church or a convention or
association of churches if it shares common religious bonds and
convictions with that church or convention or association of
churches.
(v) If an employee who is included in a church plan separates
from the service of a church or a convention or association of
churches or an organization, whether a civil law corporation or
otherwise, which is exempt from tax under section 501 of title 26
and which is controlled by or associated with a church or a
convention or association of churches, the church plan shall not
fail to meet the requirements of this paragraph merely because the
plan--
(I) retains the employee's accrued benefit or account for
the payment of benefits to the employee or his beneficiaries
pursuant to the terms of the plan; or
(II) receives contributions on the employee's behalf after
the employee's separation from such service, but only for a
period of 5 years after such separation, unless the employee is
disabled (within the meaning of the disability provisions of the
church plan or, if there are no such provisions in the church
plan, within the meaning of section 72(m)(7) of title 26) at the
time of such separation from service.
(D)(i) If a plan established and maintained for its employees (or
their beneficiaries) by a church or by a convention or association of
churches which is exempt from tax under section 501 of title 26 fails to
meet one or more of the requirements of this paragraph and corrects its
failure to meet such requirements within the correction period, the plan
shall be deemed to meet the requirements of this paragraph for the year
in which the correction was made and for all prior years.
(ii) If a correction is not made within the correction period, the
plan shall be deemed not to meet the requirements of this paragraph
beginning with the date on which the earliest failure to meet one or
more of such requirements occurred.
(iii) For purposes of this subparagraph, the term ``correction
period'' means--
(I) the period ending 270 days after the date of mailing by the
Secretary of the Treasury of a notice of default with respect to the
plan's failure to meet one or more of the requirements of this
paragraph; or
(II) any period set by a court of competent jurisdiction after a
final determination that the plan fails to meet such requirements,
or, if the court does not specify such period, any reasonable period
determined by the Secretary of the Treasury on the basis of all the
facts and circumstances, but in any event not less than 270 days
after the determination has become final; or
(III) any additional period which the Secretary of the Treasury
determines is reasonable or necessary for the correction of the
default,
whichever has the latest ending date.
(34) The term ``individual account plan'' or ``defined contribution
plan'' means a pension plan which provides for an individual account for
each participant and for benefits based solely upon the amount
contributed to the participant's account, and any income, expenses,
gains and losses, and any forfeitures of accounts of other participants
which may be allocated to such participant's account.
(35) The term ``defined benefit plan'' means a pension plan other
than an individual account plan; except that a pension plan which is not
an individual account plan and which provides a benefit derived from
employer contributions which is based partly on the balance of the
separate account of a participant--
(A) for the purposes of section 1052 of this title, shall be
treated as an individual account plan, and
(B) for the purposes of paragraph (23) of this section and
section 1054 of this title, shall be treated as an individual
account plan to the extent benefits are based upon the separate
account of a participant and as a defined benefit plan with respect
to the remaining portion of benefits under the plan.
(36) The term ``excess benefit plan'' means a plan maintained by an
employer solely for the purpose of providing benefits for certain
employees in excess of the limitations on contributions and benefits
imposed by section 415 of title 26 on plans to which that section
applies without regard to whether the plan is funded. To the extent that
a separable part of a plan (as determined by the Secretary of Labor)
maintained by an employer is maintained for such purpose, that part
shall be treated as a separate plan which is an excess benefit plan.
(37)(A) The term ``multiemployer plan'' means a plan--
(i) to which more than one employer is required to contribute,
(ii) which is maintained pursuant to one or more collective
bargaining agreements between one or more employee organizations and
more than one employer, and
(iii) which satisfies such other requirements as the Secretary
may prescribe by regulation.
(B) For purposes of this paragraph, all trades or businesses
(whether or not incorporated) which are under common control within the
meaning of section 1301(b)(1) of this title are considered a single
employer.
(C) Notwithstanding subparagraph (A), a plan is a multiemployer plan
on and after its termination date if the plan was a multiemployer plan
under this paragraph for the plan year preceding its termination date.
(D) For purposes of this subchapter, notwithstanding the preceding
provisions of this paragraph, for any plan year which began before
September 26, 1980, the term ``multiemployer plan'' means a plan
described in this paragraph (37) as in effect immediately before such
date.
(E) Within one year after September 26, 1980, a multiemployer plan
may irrevocably elect, pursuant to procedures established by the
corporation and subject to the provisions of sections 1453(b) and (c) of
this title, that the plan shall not be treated as a multiemployer plan
for all purposes under this chapter or the Internal Revenue Code of 1954
if for each of the last 3 plan years ending prior to the effective date
of the Multiemployer Pension Plan Amendments Act of 1980--
(i) the plan was not a multiemployer plan because the plan was
not a plan described in subparagraph (A)(iii) of this paragraph and
section 414(f)(1)(C) of title 26 (as such provisions were in effect
on the day before September 26, 1980); and
(ii) the plan had been identified as a plan that was not a
multiemployer plan in substantially all its filings with the
corporation, the Secretary of Labor and the Secretary of the
Treasury.
(F)(i) For purposes of this subchapter a qualified football coaches
plan--
(I) shall be treated as a multiemployer plan to the extent not
inconsistent with the purposes of this subparagraph; and
(II) notwithstanding section 401(k)(4)(B) of title 26, may
include a qualified cash and deferred arrangement.
(ii) For purposes of this subparagraph, the term ``qualified
football coaches plan'' means any defined contribution plan which is
established and maintained by an organization--
(I) which is described in section 501(c) of title 26;
(II) the membership of which consists entirely of individuals
who primarily coach football as full-time employees of 4-year
colleges or universities described in section 170(b)(1)(A)(ii) of
title 26; and
(III) which was in existence on September 18, 1986.
(38) The term ``investment manager'' means any fiduciary (other than
a trustee or named fiduciary, as defined in section 1102(a)(2) of this
title)--
(A) who has the power to manage, acquire, or dispose of any
asset of a plan;
(B) who (i) is registered as an investment adviser under the
Investment Advisers Act of 1940 [15 U.S.C. 80b-1 et seq.]; (ii) is
not registered as an investment adviser under such Act by reason of
paragraph (1) of section 203A(a) of such Act [15 U.S.C. 80b-3a(a)],
is registered as an investment adviser under the laws of the State
(referred to in such paragraph (1)) in which it maintains its
principal office and place of business, and, at the time the
fiduciary last filed the registration form most recently filed by
the fiduciary with such State in order to maintain the fiduciary's
registration under the laws of such State, also filed a copy of such
form with the Secretary; (iii) is a bank, as defined in that Act; or
(iv) is an insurance company qualified to perform services described
in subparagraph (A) under the laws of more than one State; and
(C) has acknowledged in writing that he is a fiduciary with
respect to the plan.
(39) The terms ``plan year'' and ``fiscal year of the plan'' mean,
with respect to a plan, the calendar, policy, or fiscal year on which
the records of the plan are kept.
(40)(A) The term ``multiple employer welfare arrangement'' means an
employee welfare benefit plan, or any other arrangement (other than an
employee welfare benefit plan), which is established or maintained for
the purpose of offering or providing any benefit described in paragraph
(1) to the employees of two or more employers (including one or more
self-employed individuals), or to their beneficiaries, except that such
term does not include any such plan or other arrangement which is
established or maintained--
(i) under or pursuant to one or more agreements which the
Secretary finds to be collective bargaining agreements,
(ii) by a rural electric cooperative, or
(iii) by a rural telephone cooperative association.
(B) For purposes of this paragraph--
(i) two or more trades or businesses, whether or not
incorporated, shall be deemed a single employer if such trades or
businesses are within the same control group,
(ii) the term ``control group'' means a group of trades or
businesses under common control,
(iii) the determination of whether a trade or business is under
``common control'' with another trade or business shall be
determined under regulations of the Secretary applying principles
similar to the principles applied in determining whether employees
of two or more trades or businesses are treated as employed by a
single employer under section 1301(b) of this title, except that,
for purposes of this paragraph, common control shall not be based on
an interest of less than 25 percent,
(iv) the term ``rural electric cooperative'' means--
(I) any organization which is exempt from tax under section
501(a) of title 26 and which is engaged primarily in providing
electric service on a mutual or cooperative basis, and
(II) any organization described in paragraph (4) or (6) of
section 501(c) of title 26 which is exempt from tax under
section 501(a) of title 26 and at least 80 percent of the
members of which are organizations described in subclause (I),
and
(v) the term ``rural telephone cooperative association'' means
an organization described in paragraph (4) or (6) of section 501(c)
of title 26 which is exempt from tax under section 501(a) of title
26 and at least 80 percent of the members of which are organizations
engaged primarily in providing telephone service to rural areas of
the United States on a mutual, cooperative, or other basis.
(41) \3\ Single-employer plan.--The term ``single-employer plan''
means an employee benefit plan other than a multiemployer plan.
---------------------------------------------------------------------------
\3\ So in original. Two pars. (41) have been enacted.
---------------------------------------------------------------------------
(41) \3\ The term ``single-employer plan'' means a plan which is not
a multiemployer plan.
(Pub. L. 93-406, title I, Sec. 3, Sept. 2, 1974, 88 Stat. 833; Pub. L.
96-364, title III, Secs. 302, 305, title IV, Secs. 407(a), 409, Sept.
26, 1980, 94 Stat. 1291, 1294, 1303, 1307; Pub. L. 97-473, title III,
Sec. 302(a), Jan. 14, 1983, 96 Stat. 2612; Pub. L. 99-272, title XI,
Sec. 11016(c)(1), Apr. 7, 1986, 100 Stat. 273; Pub. L. 99-509, title IX,
Sec. 9203(b)(1), Oct. 21, 1986, 100 Stat. 1979; Pub. L. 99-514, title
XVIII, Sec. 1879(u)(3), Oct. 22, 1986, 100 Stat. 2913; Pub. L. 100-202,
Sec. 136(a), Dec. 22, 1987, 101 Stat. 1329-441; Pub. L. 101-239, title
VII, Secs. 7871(b)(2), 7881(m)(2)(D), 7891(a)(1), 7893(a),
7894(a)(1)(A), (2)(A), (3), (4), Dec. 19, 1989, 103 Stat. 2435, 2444,
2445, 2447, 2448; Pub. L. 101-508, title XII, Sec. 12002(b)(2)(C), Nov.
5, 1990, 104 Stat. 1388-566; Pub. L. 102-89, Sec. 2, Aug. 14, 1991, 105
Stat. 446; Pub. L. 104-290, title III, Sec. 308(b)(1), Oct. 11, 1996,
110 Stat. 3440; Pub. L. 105-72, Sec. 1(a), Nov. 10, 1997, 111 Stat.
1457.)
References in Text
This chapter, referred to in pars. (2)(B) and (37)(E), was in the
original ``this Act'', meaning Pub. L. 93-406, known as the Employee
Retirement Income Security Act of 1974. Titles I, III, and IV of such
Act are classified principally to this chapter. For complete
classification of this Act to the Code, see Short Title note set out
under section 1001 of this title and Tables.
The Outer Continental Shelf Lands Act, referred to in par. (10), is
act Aug. 7, 1953, ch. 345, 67 Stat. 462, as amended, which is classified
generally to subchapter III (Sec. 1331 et seq.) of chapter 29 of Title
43, Public Lands. For complete classification of this Act to the Code,
see Short Title note set out under section 1331 of Title 43 and Tables.
The Labor Management Relations Act, 1947, referred to in par. (12),
is act June 23, 1947, ch. 120, 61 Stat. 136, as amended, which is
classified principally to chapter 7 (Sec. 141 et seq.) of this title.
For complete classification of this Act to the Code, see section 141 of
this title and Tables.
The Railway Labor Act, referred to in par. (12), is act May 20,
1926, ch. 347, 44 Stat. 577, as amended, which is classified principally
to chapter 8 (Sec. 151 et seq.) of Title 45, Railroads. For complete
classification of this Act to the Code, see section 151 of Title 45 and
Tables.
Section 77b(1) of title 15, referred to in par. (20), was
redesignated section 77b(a)(1) of title 15 by Pub. L. 104-290, title I,
Sec. 106(a)(1), Oct. 11, 1996, 110 Stat. 3424.
The Investment Company Act of 1940, referred to in par. (21)(B), is
title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, as amended, which
is classified generally to subchapter I (Sec. 80a-1 et seq.) of chapter
2D of Title 15, Commerce and Trade. For complete classification of this
Act to the Code, see section 80a-51 of Title 15 and Tables.
The Railroad Retirement Act of 1935 or 1937, referred to in par.
(32), means act Aug. 29, 1935, ch. 812, 49 Stat. 867, as amended, known
as the Railroad Retirement Act of 1935. The Railroad Retirement Act of
1935 was amended generally by act June 24, 1937, ch. 382, part I, 50
Stat. 307, and was known as the Railroad Retirement Act of 1937. The
Railroad Retirement Act of 1937 was amended generally and redesignated
the Railroad Retirement Act of 1974 by Pub. L. 93-445, title I, Oct. 16,
1974, 88 Stat. 1305 and is classified generally to subchapter IV
(Sec. 231 et seq.) of chapter 9 of Title 45, Railroads. For complete
classification of this Act to the Code, see Tables.
The International Organizations Immunities Act, referred to in par.
(32), is title I of act Dec. 29, 1945, ch. 652, 59 Stat. 669, as
amended, which is classified principally to subchapter XVIII (Sec. 288
et seq.) of chapter 7 of Title 22, Foreign Relations and Intercourse.
For complete classification of this Act to the Code, see Short Title
note set out under section 288 of Title 22 and Tables.
Sections 1453(b) and (c) of this title, referred to in par. (37)(E),
was in the original ``sections 4403(b) and (c)'', meaning sections
4403(b) and (c) of the Employee Retirement Income Security Act of 1974,
which was translated as section 1453(b) and (c) of this title as the
probable intent of Congress, in view of the Employee Retirement Income
Security Act of 1974 not containing a section 4403 and the subject
matter of section 4303 of the Act which is classified to section 1453(b)
and (c) of this title.
The Internal Revenue Code of 1954, referred to in par. (37)(E), was
redesignated the Internal Revenue Code of 1986 by Pub. L. 99-514,
Sec. 2, Oct. 22, 1986, 100 Stat. 2095, and is classified to Title 26,
Internal Revenue Code.
For the effective date of the Multiemployer Pension Plan Amendments
Act of 1980, referred to in par. (37)(E), see section 1461(e) of this
title.
The Investment Advisers Act of 1940, referred to in par. (38)(B), is
title II of act Aug. 22, 1940, ch. 686, 54 Stat. 847, as amended, which
is classified generally to subchapter II (Sec. 80b-1 et seq.) of chapter
2D of Title 15, Commerce and Trade. For complete classification of this
Act to the Code, see section 80b-20 of Title 15 and Tables.
Amendments
1997--Par. (38)(B). Pub. L. 105-72 added introductory provisions and
cls. (i) and (ii), redesignated former cls. (ii) and (iii) as (iii) and
(iv), respectively, and struck out former introductory provisions and
cl. (i) which read as follows: ``who is (i) registered as an investment
adviser under the Investment Advisers Act of 1940 or under the laws of
any State;''.
1996--Par. (38)(B). Pub. L. 104-290 temporarily inserted ``or under
the laws of any State'' before ``; (ii) is a bank,''. See Effective and
Termination Dates of 1996 Amendment note below.
1991--Par. (40)(A)(iii), (B)(v). Pub. L. 102-89 added cl. (iii) at
end of subpar. (A) and cl. (v) at end of subpar. (B).
1990--Par. (41). Pub. L. 101-508 added par. (41) which read as
follows: ``The term `single-employer plan' means a plan which is not a
multiemployer plan.''
1989--Pars. (14), (33), (36), (40)(B)(iv). Pub. L. 101-239,
Sec. 7891(a)(1), substituted ``Internal Revenue Code of 1986'' for
``Internal Revenue Code of 1954'', which for purposes of codification
was translated as ``title 26'' thus requiring no change in text.
Par. (23). Pub. L. 101-239, Sec. 7881(m)(2)(D), inserted at end
``The accrued benefit of an employee shall not be less than the amount
determined under section 1054(c)(2)(B) of this title with respect to the
employee's accumulated contribution.''
Par. (24)(B). Pub. L. 101-239, Sec. 7871(b)(2), amended subpar. (B)
generally. Prior to amendment, subpar. (B) read as follows: ``the latest
of--
``(i) the time a plan participant attains age 65,
``(ii) in the case of a plan participant who commences
participation in the plan within 5 years before attaining normal
retirement age under the plan, the 5th anniversary of the time the
plan participant commences participation in the plan, or
``(iii) in the case of a plan participant not described in
clause (ii), the 10th anniversary of the time the plan participant
commences participation in the plan.''
Par. (33)(D)(iii). Pub. L. 101-239, Sec. 7894(a)(1)(A), substituted
``Secretary of the Treasury'' for ``Secretary'' in subcls. (I) to (III).
Par. (37)(B). Pub. L. 101-239, Sec. 7893(a), substituted ``section
1301(b)(1)'' for ``section 1301(c)(1)''.
Par. (37)(F)(i)(II). Pub. L. 101-239, Sec. 7894(a)(2)(A)(i),
substituted ``the Internal Revenue Code of 1986'' for ``such Code'',
which for purposes of codification was translated as ``title 26'' thus
requiring no change in text.
Par. (37)(F)(ii). Pub. L. 101-239, Sec. 7894(a)(2)(A)(ii), (iii),
inserted ``of such Code'' after ``section 501(c)'' in subcl. (I) and
after ``section 170(b)(1)(A)(ii)'' in subcl. (II), which for purposes of
codification was translated as ``of title 26'' thus requiring no change
in text.
Par. (39). Pub. L. 101-239, Sec. 7894(a)(3), substituted ``mean,
with respect to a plan, the calendar'' for ``mean with respect to a
plan, calendar''.
Par. (41). Pub. L. 101-239, Sec. 7894(a)(4), added par. (41).
1987--Par. (37)(F). Pub. L. 100-202 added subpar. (F).
1986--Par. (24)(B). Pub. L. 99-509 amended subpar. (B) generally.
Prior to amendment, subpar. (B) read as follows: ``the later of--
``(i) the time a plan participant attains age 65, or
``(ii) the 10th anniversary of the time a plan participant
commenced participation in the plan.''
Par. (37)(A). Pub. L. 99-514 repealed the amendment made by Pub. L.
99-272. See note below.
Pub. L. 99-272, which, eff. Jan. 1, 1986, directed the substitution
of ``means a pension plan'' for ``means a plan'' was repealed by Pub. L.
99-514, eff. Jan. 1, 1986.
1983--Par. (40). Pub. L. 97-473 added par. (40).
1980--Par. (2). Pub. L. 96-364, Sec. 409, redesignated existing
provisions as subpar. (A), inserted exception for subpar. (B),
substituted ``(i)'' for ``(A)'' and ``(ii)'' for ``(B)'', and added
subpar. (B).
Par. (14). Pub. L. 96-364, Sec. 305, inserted provisions respecting
a trust described in section 501(c)(22) of title 26.
Par. (33). Pub. L. 96-364, Sec. 407(a), substituted provisions
defining ``church plan'' as a plan established and maintained (to the
extent required in cl. (ii) of subpar. (B)) for employees or
beneficiaries by a church, etc., exempt from tax under section 501 of
title 26, for provisions defining ``church plan'' as a plan established
and maintained for employees by a church, etc., exempt from tax under
section 501 of title 26, or a plan in existence on Jan. 1, 1974,
established and maintained by a church, etc., for employees and
employees of agencies of the church, etc.
Par. (37). Pub. L. 96-364, Sec. 302(a), substantially revised
definition of term ``multiemployer plan'' by, among other changes,
restructuring subpar. (A), resulting in elimination of provisions
covering amount of contributions and payment of benefits, and subpar.
(B), resulting in elimination of provisions reworking amount of
contributions for subsequent plan years, and added subpars. (C) to (E).
Effective Date of 1997 Amendment
Section 1(c) of Pub. L. 105-72 provided that: ``The amendments made
by subsection (a) [amending this section] shall take effect on July 8,
1997, except that the requirement of section 3(38)(B)(ii) of the
Employee Retirement Income Security Act of 1974 [section 1002(38)(B)(ii)
of this title] (as amended by this Act) for filing with the Secretary of
Labor of a copy of a registration form which has been filed with a State
before the date of the enactment of this Act [Nov. 10, 1997], or is to
be filed with a State during the 1-year period beginning with such date,
shall be treated as satisfied upon the filing of such a copy with the
Secretary at any time during such 1-year period. This section shall
supersede section 308(b) of the National Securities Markets Improvement
Act of 1996 [Pub. L. 104-290, amending this section and enacting
provisions set out as an Effective and Termination Dates of 1996
Amendment note below] (and the amendment made thereby).''
Effective and Termination Dates of 1996 Amendment
Amendment by Pub. L. 104-290 effective 270 days after Oct. 11, 1996,
see section 308(a) of Pub. L. 104-290, as amended, set out as a note
under section 80b-2 of Title 15, Commerce and Trade.
Section 308(b)(2) of Pub. L. 104-290 which provided that the
amendment made by paragraph (1), amending this section, ceased to be
effective 2 years after Oct. 11, 1996, was superseded by section 1(c) of
Pub. L. 105-72, set out as an Effective Date of 1997 Amendment note
above.
Effective Date of 1991 Amendment
Section 3 of Pub. L. 102-89 provided that: ``The amendments made by
section 2 [amending this section] shall take effect on the date of the
enactment of this Act [Aug. 14, 1991].''
Effective Date of 1990 Amendment
Amendment by Pub. L. 101-508 applicable to reversions occurring
after Sept. 30, 1990, but not applicable to any reversion after Sept.
30, 1990, if (1) in the case of plans subject to subchapter III of this
chapter, notice of intent to terminate under such subchapter was
provided to participants (or if no participants, to Pension Benefit
Guaranty Corporation) before Oct. 1, 1990, (2) in the case of plans
subject to subchapter I of this chapter (and not subchapter III), notice
of intent to reduce future accruals under section 1054(h) of this title
was provided to participants in connection with termination before Oct.
1, 1990, (3) in the case of plans not subject to subchapter I or III of
this chapter, a request for a determination letter with respect to
termination was filed with Secretary of the Treasury or Secretary's
delegate before Oct. 1, 1990, or (4) in the case of plans not subject to
subchapter I or III of this chapter and having only one participant, a
resolution terminating the plan was adopted by employer before Oct. 1,
1990, see section 12003 of Pub. L. 101-508, set out as a note under
section 4980 of Title 26, Internal Revenue Code.
Effective Date of 1989 Amendment
Amendment by section 7871(b)(2) of Pub. L. 101-239 effective as if
included in the amendments made by section 9203 of Pub. L. 99-509, see
section 7871(b)(3) of Pub. L. 101-239, set out as a note under section
411 of Title 26, Internal Revenue Code.
Amendment by section 7881(m)(2)(D) of Pub. L. 101-239 effective,
except as otherwise provided, as if included in the provision of the
Pension Protection Act, Pub. L. 100-203, Secs. 9302-9346, to which such
amendment relates, see section 7882 of Pub. L. 101-239, set out as a
note under section 401 of Title 26.
Section 7891(f) of Pub. L. 101-239 provided that: ``Except as
otherwise provided in this section, any amendment made by this section
[amending this section, sections 1003, 1025, 1051 to 1056, 1060, 1061,
1081 to 1084, 1085a, 1101, 1103, 1107, 1108, 1132, 1134, 1137, 1161,
1166, 1167, 1201 to 1203, 1222, 1301, 1302, 1307, 1309, 1321 to 1322a,
1342 to 1345, 1362, 1368, 1384, 1385, 1390, 1391, 1393, 1403, 1421,
1423, 1425, and 1453 of this title, and section 4980B of Title 26] shall
take effect as if included in the provision of the Reform Act [probably
means Tax Reform Act of 1986, Pub. L. 99-514] to which such amendment
relates.''
Section 7893(h) of Pub. L. 101-239 provided that: ``Any amendment
made by this section [amending this section and sections 1322a, 1341,
1342, 1347, 1366, 1367, and 1398 of this title] shall take effect as if
included in the provision of the Single-Employer Pension Plan Amendments
Act of 1986 [Pub. L. 99-272, title XI] to which such amendment
relates.''
Section 7894(a)(1)(B) of Pub. L. 101-239 provided that: ``The
amendments made by subparagraph (A) [amending this section] shall take
effect as if included in section 407 of the Multiemployer Pension Plan
Amendments Act of 1980 [Pub. L. 96-364].''
Section 7894(a)(2)(B) of Pub. L. 101-239 provided that: ``The
amendment made by this paragraph [amending this section] shall take
effect as if included in section 136 of Public Law 100-202.''
Section 7894(i) of Pub. L. 101-239 provided that: ``Except as
otherwise provided in this section, any amendment made by this section
[amending this section and sections 1021, 1024 to 1026, 1028, 1031, 1051
to 1056, 1060, 1061, 1081, 1082, 1084, 1086, 1103, 1107, 1108, 1113,
1114, 1132, 1144, 1321 to 1322a, 1344, 1368, and 1461 of this title]
shall take effect 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.''
Effective Date of 1987 Amendment
Section 136(b) of Pub. L. 100-202 provided that: ``The amendment
made by this section [amending this section] shall apply to years
beginning after the date of the enactment of this joint resolution [Dec.
22, 1987].''
Effective Date of 1986 Amendments
Amendment by section 1879(u)(3) of Pub. L. 99-514 effective as if
such provisions were included in the enactment of the Single-Employer
Pension Plan Amendments Act of 1986 [Pub. L. 99-272], see section
1879(u)(4)(A) of Pub. L. 99-514, set out as a note under section 1054 of
this title.
Amendment by Pub. L. 99-509 applicable only with respect to plan
years beginning on or after Jan. 1, 1988, and only with respect to
service performed on or after such date, see section 9204 of Pub. L. 99-
509, set out as an Effective and Termination Dates of 1986 Amendments
note under section 623 of this title.
Amendment by Pub. L. 99-272 effective Jan. 1, 1986, with certain
exceptions, see section 11019 of Pub. L. 99-272, set out as a note under
section 1341 of this title.
Effective Date of 1983 Amendment
Section 302(c) of Pub. L. 97-473 provided that: ``The amendments
made by this section [amending this section and section 1144 of this
title] shall take effect on the date of the enactment of this Act [Jan.
14, 1983].''
Effective Date of 1980 Amendment
Amendment of pars. (2), (14), and (37), by Pub. L. 96-364 effective
Sept. 26, 1980, except as specifically provided, see section 1461(e) of
this title.
Amendment of par. (33) by Pub. L. 96-364 effective Jan. 1, 1974, see
section 407(c) of Pub. L. 96-364, set out as a note under section 414 of
Title 26, Internal Revenue Code.
Regulations
Secretary of Labor, Secretary of the Treasury, and Equal Employment
Opportunity Commission each to issue before Feb. 1, 1988, final
regulations to carry out amendments made by Pub. L. 99-509, see section
9204 of Pub. L. 99-509, set out as an Effective and Termination Dates of
1986 Amendment note under section 623 of this title.
Availability of Documents Via Filing Depository
Section 1(b) of Pub. L. 105-72 provided that: ``A fiduciary shall be
treated as meeting the requirements of section 3(38)(B)(ii) of the
Employee Retirement Income Security Act of 1974 [29 U.S.C.
1002(38)(B)(ii)] (as amended by subsection (a)) relating to provision to
the Secretary of Labor of a copy of the form referred to therein, if a
copy of such form (or substantially similar information) is available to
the Secretary of Labor from a centralized electronic or other record-
keeping database.''
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 [Secs. 1101-1147 and 1171-1177] or title XVIII
[Secs. 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, as amended, set out as a note under section 401 of Title 26,
Internal Revenue Code.
For provisions directing that if any amendments made by Pub. L. 99-
509 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 9204 of Pub. L. 99-509, set out as an
Effective and Termination Dates of 1986 Amendment note under section 623
of this title.
Section Referred to in Other Sections
This section is referred to in sections 623, 1003, 1021, 1023, 1053,
1055, 1056, 1081, 1082, 1143a, 1144, 1144a, 1301, 1321, 1342, 1453,
2104, 2611, 2918 of this title; title 5 sections 8438, 8477; title 7
section 2009cc; title 12 section 1821; title 15 sections 77b, 78c, 662,
7244; title 18 section 1954; title 26 sections 35, 412, 414, 3121, 3306,
4980B, 4980D, 9702, 9712, 9803; title 38 sections 4303, 4317, 4318;
title 42 sections 300bb-8, 300gg-91, 409, 1306, 1320d, 3020e-1.
