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Title 29 — LaborRelease 119-73

§1347 Restoration of plans

Title 29 › Chapter CHAPTER 18— - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter SUBCHAPTER III— - PLAN TERMINATION INSURANCE › Subtitle Subtitle C— - Terminations › § 1347

Last updated Apr 6, 2026|Official source

Summary

The corporation can stop ending a plan that is being terminated under sections 1341 or 1342 if it decides the plan should not be ended. It may halt the shutdown steps and do what is needed to return the plan to the way it was before the termination process began. If the plan was already ended under sections 1341 or 1342, the corporation may, when it finds that appropriate and within its duties, take steps to restore the plan. That can include returning control of some or all remaining assets and liabilities to the employer or plan administrator.

Full Legal Text

Title 29, §1347

Labor — Source: USLM XML via OLRC

Whenever the corporation determines that a plan which is to be terminated under section 1341 or 1342 of this title, or which is in the process of being terminated under section 1341 or 1342 of this title, should not be terminated under section 1341 or 1342 of this title as a result of such circumstances as the corporation determines to be relevant, the corporation is authorized to cease any activities undertaken to terminate the plan, and to take whatever action is necessary and within its power to restore the plan to its status prior to the determination that the plan was to be terminated under section 1341 or 1342 of this title. In the case of a plan which has been terminated under section 1341 or 1342 of this title the corporation is authorized in any such case in which the corporation determines such action to be appropriate and consistent with its duties under this subchapter, to take such action as may be necessary to restore the plan to its pretermination status, including, but not limited to, the transfer to the employer or a plan administrator of control of part or all of the remaining assets and liabilities of the plan.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1989—Pub. L. 101–239 struck out “under this subtitle” before “should not be terminated”. 1986—Pub. L. 99–272 inserted “under section 1341 or 1342 of this title” after “terminated” in four places and substituted “section 1341 or 1342 of this title the corporation” for “section 1342 of this title the corporation”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1989 AmendmentAmendment by Pub. L. 101–239 effective 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, see section 7893(h) of Pub. L. 101–239, set out as a note under section 1002 of this title.

Effective Date

of 1986 AmendmentAmendment 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.

Reference

Citations & Metadata

Citation

29 U.S.C. § 1347

Title 29 — Labor

Last Updated

Apr 6, 2026

Release point: 119-73