§1346 — Title 29 Labor | U.S. Code

Summary

The company and the plan administrator must give the trustee any information they have or can get about a plan that is being ended. They must provide six kinds of information: the amount of benefits for each participant; the amount of basic guaranteed benefits for each participant under sections 1322 and 1322a; the present value at termination of the total basic guaranteed benefits (not counting section 1322b); the fair market value of the plan’s assets at termination; the calculations required by section 1344 and the actuarial assumptions used for the numbers above; and any other plan information the trustee needs to finish the termination.

Title 29, §1346

Labor — Source: USLM XML via OLRC

The corporation and the plan administrator of any plan to be terminated under this subtitle shall furnish to the trustee such information as the corporation or the plan administrator has and, to the extent practicable, can obtain regarding—

(1)the amount of benefits payable with respect to each participant under a plan to be terminated,

(2)the amount of basic benefits guaranteed under section 1322 or 1322a of this title which are payable with respect to each participant in the plan,

(3)the present value, as of the time of termination, of the aggregate amount of basic benefits payable under section 1322 or 1322a of this title (determined without regard to section 1322b of this title),

(4)the fair market value of the assets of the plan at the time of termination,

(5)the computations under section 1344 of this title, and all actuarial assumptions under which the items described in paragraphs (1) through (4) were computed, and

(6)any other information with respect to the plan the trustee may require in order to terminate the plan.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1980—Par. (2). Pub. L. 96–364, § 403(e)(1), inserted “basic” before “benefits” and “or 1322a” after “1322”. Par. (3). Pub. L. 96–364, § 403(e), inserted “basic” before “benefits” and “or 1322a” after “1322”, and substituted “1322b” for “1322(b)(5)”.

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.

§1346 Reports to Trustee