Title 29 — LaborRelease 119-73
§1058 Mergers and consolidations of plans or transfers of plan assets
Title 29 › Chapter CHAPTER 18— - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter SUBCHAPTER I— - PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle Subtitle B— - Regulatory Provisions › Part part 2— - participation and vesting › § 1058
Summary
Pension plans cannot merge or move assets after September 2, 1974, unless each person would get, if the plan ended, a benefit after the change at least as large as the benefit before. The rule does not apply to multiemployer plans under subchapter III.
Full Legal Text
Title 29, §1058
Labor — Source: USLM XML via OLRC
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 before 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 multiemployer plan to which subchapter III of this chapter applies.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1980—Pub. L. 96–364 substituted provisions respecting applicability of preceding sentence to transactions under a covered multiemployer plan to which subchapter III applies, for provisions relating to applicability of paragraph to a multiemployer plan only to extent determined by Corporation.
Statutory Notes and Related Subsidiaries
Effective Date
of 1980 AmendmentAmendment by Pub. L. 96–364 effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title.
Reference
Citations & Metadata
Citation
29 U.S.C. § 1058
Title 29 — Labor
Last Updated
Apr 6, 2026
Release point: 119-73