§1322b Aggregate limit on benefits guaranteed; criteria applicable

Summary

No one may get from the corporation more than the value of a monthly life annuity starting at age 65 that equals the amount set in section 1322(b)(3)(B) on the date of the plan’s last termination. That limit applies across all single‑employer and multiemployer plans together. If a multiemployer plan gets financial help from the corporation, benefits paid under that plan are treated as if they came from the corporation’s guarantee unless the corporation’s rules say otherwise. The day a multiemployer plan begins getting that help counts as the plan’s termination date.