§1222 — Title 29 Labor | U.S. Code

§1222 Duties

Title 29 › Chapter 18— EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter II— JURISDICTION, ADMINISTRATION, ENFORCEMENT; JOINT PENSION TASK FORCE, ETC. › Subtitle Subtitle B— Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force; Studies › Part 1— joint pension, profit-sharing, and employee stock ownership plan task force › § 1222

Last updated Apr 5, 2026|Official source

Summary

The Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force must, within 24 months after September 2, 1974, study several pension and stock-ownership issues: how section 411 of title 26 and section 1053 of this title affect age discrimination; pension portability between plans; how subchapter III (termination insurance) should treat small-employer plans; ways to broaden stock ownership, especially employee stock ownership plans (see section 4975(e)(7) of title 26 and section 1107(d)(6) of this title); whether federal law should preempt state and local pension rules; and other matters the committees in section 1221 refer. The Task Force must report its findings to each committee named in section 1221.

Title 29, §1222

Labor — Source: USLM XML via OLRC

(a)The Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force shall, within 24 months after September 2, 1974, make a full study and review of—

(1)the effect of the requirements of section 411 of title 26 and of section 1053 of this title to determine the extent of discrimination, if any, among employees in various age groups resulting from the application of such requirements;

(2)means of providing for the portability of pension rights among different pension plans;

(3)the appropriate treatment under subchapter III of this chapter (relating to termination insurance) of plans established and maintained by small employers;

(4)the broadening of stock ownership, particularly with regard to employee stock ownership plans (as defined in section 4975(e)(7) of title 26 and section 1107(d)(6) of this title) and all other alternative methods for broadening stock ownership to the American labor force and others;

(5)the effects and desirability of the Federal preemption of State and local law with respect to matters relating to pension and similar plans; and

(6)such other matter as any of the committees referred to in section 1221 of this title may refer to it.

(b)The Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force shall report the results of its study and review to each of the committees referred to in section 1221 of this title.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1989—Subsec. (a)(1), (4). Pub. L. 101–239 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. 1976—Subsec. (a). Pub. L. 94–455, § 803(i)(1), (2)(A)(iii), substituted “Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force” for “Joint Pension Task Force” in provision preceding par. (1), redesignated pars. (4) and (5) as (5) and (6), respectively, and added par. (4). Subsec. (b). Pub. L. 94–455, § 803(i)(2)(A)(iii), substituted “Joint Pension, Profit-Sharing, and Employee Stock Ownership Plan Task Force” for “Joint Pension Task Force”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1989 AmendmentAmendment by Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 7891(f) of Pub. L. 101–239, set out as a note under section 1002 of this title.