PRIA, Government Policy, Made Personal

Summary

Any change to a multiemployer plan made more than 36 months after the effective date must be approved by the corporation before it takes effect. If the plan sponsor sends the corporation a notice and a copy of the change, the corporation has 90 days to reject it; if it does not reject it within 90 days, the change takes effect. Any change about how withdrawal liability is calculated must follow section 1391(c)(5). The corporation may reject a change only if it finds the change would create an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.

Title 29, §1400

Labor, Source: USLM XML via OLRC

(a)Amendment of covered multiemployer plan; procedures applicable

Except as provided in subsection (b), if an amendment to a multiemployer plan authorized by any preceding section of this part is adopted more than 36 months after the effective date of this section, the amendment shall be effective only if the corporation approves the amendment, or, within 90 days after the corporation receives notice and a copy of the amendment from the plan sponsor, fails to disapprove the amendment.

(b)Amendment respecting methods for computing withdrawal liability

An amendment permitted by section 1391(c)(5) of this title may be adopted only in accordance with that section.

(c)Criteria for disapproval by corporation

The corporation shall disapprove an amendment referred to in subsection (a) or (b) only if the corporation determines that the amendment creates an unreasonable risk of loss to plan participants and beneficiaries or to the corporation.

§1400 Approval of Amendments

Summary

Title 29, §1400

Notes & Related Subsidiaries

Editorial Notes

References in Text

Effective Date

Citations & Metadata