Title 29, LaborRelease 119-110

§1414 Asset Transfer Rules

Title 29 › CHAPTER 18 — EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › SUBCHAPTER III — PLAN TERMINATION INSURANCE › Subtitle E — Special Provisions for Multiemployer Plans › part 2 — merger or transfer of plan assets or liabilities › § 1414

Last updated Sep 22, 2026|Official source

Summary

Multiemployer plans must adopt rules for moving assets to another plan. The rules must not unfairly block transfers tied to moving liabilities. They must be applied the same way to each transfer, but can allow reasonable differences based on the transfer’s likely financial effect. Rules that allow transfers under section 1412(c)(3) meet this test. The corporation must write rules that exclude very small (de minimis) transfers from these requirements. Transfers under written reciprocity agreements are not covered unless the corporation’s regulations say they are.

Full Legal Text

Title 29, §1414

Labor, Source: USLM XML via OLRC

(a)Applicability and scope

A transfer of assets from a multiemployer plan to another plan shall comply with asset-transfer rules which shall be adopted by the multiemployer plan and which—

(1)do not unreasonably restrict the transfer of plan assets in connection with the transfer of plan liabilities, and

(2)operate and are applied uniformly with respect to each proposed transfer, except that the rules may provide for reasonable variations taking into account the potential financial impact of a proposed transfer on the multiemployer plan.

Plan rules authorizing asset transfers consistent with the requirements of section 1412(c)(3) of this title shall be considered to satisfy the requirements of this subsection.

(b)Exemption of de minimis transfers

The corporation shall prescribe regulations which exempt de minimis transfers of assets from the requirements of this part.

(c)Written reciprocity agreements

This part shall not apply to transfers of assets pursuant to written reciprocity agreements, except to the extent provided in regulations prescribed by the corporation.

Reference

Citations & Metadata

Citation

29 U.S.C. § 1414

Title 29, Labor

Last Updated

Sep 22, 2026

Release point: 119-110