-CITE-
    29 USC CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY
           PROGRAM                                         01/06/03

-EXPCITE-
    TITLE 29 - LABOR
    CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
-MISC1-
         CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM     


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           SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS       

                      SUBTITLE A - GENERAL PROVISIONS                  
    Sec.                                                     
    1001.       Congressional findings and declaration of policy.     
                  (a)  Benefit plans as affecting interstate commerce
                        and the Federal taxing power.                 
                  (b)  Protection of interstate commerce and
                        beneficiaries by requiring disclosure and
                        reporting, setting standards of conduct, etc.,
                        for fiduciaries.                              
                  (c)  Protection of interstate commerce, the Federal
                        taxing power, and beneficiaries by vesting of
                        accrued benefits, setting minimum standards of
                        funding, requiring termination insurance.     
    1001a.      Additional Congressional findings and declaration of
                 policy.                                              
                  (a)  Effects of multiemployer pension plans.        
                  (b)  Modification of multiemployer plan termination
                        insurance provisions and replacement of
                        program.                                      
                  (c)  Policy.                                        
    1001b.      Findings and declaration of policy.                   
                  (a)  Findings.                                      
                  (b)  Additional findings.                           
                  (c)  Declaration of policy.                         
    1002.       Definitions.                                          
    1003.       Coverage.                                             
                  (a)  In general.                                    
                  (b)  Exceptions for certain plans.                  
                  (c)  Voluntary employee contributions to accounts
                        and annuities.                                

                    SUBTITLE B - REGULATORY PROVISIONS                

                     PART 1 - REPORTING AND DISCLOSURE                 
    1021.       Duty of disclosure and reporting.                     
                  (a)  Summary plan description and information to be
                        furnished to participants and beneficiaries.  
                  (b)  Reports to be filed with Secretary of Labor.   
                  (c)  Terminal and supplementary reports.            
                  (d)  Notice of failure to meet minimum funding
                        standards.                                    
                  (e)  Notice of transfer of excess pension assets to
                        health benefits accounts.                     
                  (f)  Repealed.                                      
                  (g)  Reporting by certain arrangements.             
                  (h)  Simple retirement accounts.                    
                  (i)  Notice of blackout periods to participant or
                        beneficiary under individual account plan.    
                  (j)  Cross reference.                               
    1022.       Summary plan description.                             
    1023.       Annual reports.                                       
                  (a)  Publication and filing.                        
                  (b)  Financial statement.                           
                  (c)  Information to be furnished by administrator.  
                  (d)  Actuarial statement.                           
                  (e)  Statement from insurance company, insurance
                        service, or other similar organizations which
                        sell or guarantee plan benefits.              
    1024.       Filing and furnishing of information.                 
                  (a)  Filing of annual report with Secretary.        
                  (b)  Publication of summary plan description and
                        annual report to participants and
                        beneficiaries of plan.                        
                  (c)  Statement of rights.                           
                  (d)  Cross references.                              
    1025.       Reporting of participant's benefit rights.            
                  (a)  Statement furnished by administrator to
                        participants and beneficiaries.               
                  (b)  One-per-year limit on reports.                 
                  (c)  Individual statement furnished by administrator
                        to participants setting forth information in
                        administrator's Internal Revenue registration
                        statement and notification of forfeitable
                        benefits.                                     
                  (d)  Plans to which more than one unaffiliated
                        employer is required to contribute;
                        regulations.                                  
    1026.       Reports made public information.                      
    1027.       Retention of records.                                 
    1028.       Reliance on administrative interpretations.           
    1029.       Forms.                                                
                  (a)  Information required on forms.                 
                  (b)  Information not required on forms.             
                  (c)  Format and content of summary plan description,
                        annual report, etc., required to be furnished
                        to plan participants and beneficiaries.       
    1030.       Alternative methods of compliance.                    
    1031.       Repeal and effective date.                            

                    PART 2 - PARTICIPATION AND VESTING                
    1051.       Coverage.                                             
    1052.       Minimum participation standards.                      
    1053.       Minimum vesting standards.                            
                  (a)  Nonforfeitability requirements.                
                  (b)  Computation of period of service.              
                  (c)  Plan amendments altering vesting schedule.     
                  (d)  Nonforfeitable benefits after lesser period and
                        in greater amounts than required.             
                  (e)  Consent for distribution; present value;
                        covered distributions.                        
    1054.       Benefit accrual requirements.                         
                  (a)  Satisfaction of requirements by pension plans. 
                  (b)  Enumeration of plan requirements.              
                  (c)  Employee's accrued benefits derived from
                        employer and employee contributions.          
                  (d)  Employee service which may be disregarded in
                        determining employee's accrued benefits under
                        plan.                                         
                  (e)  Opportunity to repay full amount of
                        distributions which have been reduced through
                        disregarded employee service.                 
                  (f)  Employer treated as maintaining a plan.        
                  (g)  Decrease of accrued benefits through amendment
                        of plan.                                      
                  (h)  Notice of significant reduction in benefit
                        accruals.                                     
                  (i)  Prohibition on benefit increases where plan
                        sponsor is in bankruptcy.                     
                  (j)  Cross reference.                               
    1055.       Requirement of joint and survivor annuity and
                 preretirement survivor annuity.                      
                  (a)  Required contents for applicable plans.        
                  (b)  Applicable plans.                              
                  (c)  Plans meeting requirements of section.         
                  (d)  "Qualified joint and survivor annuity" defined.
                  (e)  "Qualified preretirement survivor annuity"
                        defined.                                      
                  (f)  Marriage requirements for plan.                
                  (g)  Distribution of present value of annuity;
                        written consent; determination of present
                        value.                                        
                  (h)  Definitions.                                   
                  (i)  Increased costs from providing annuity.        
                  (j)  Use of participant's accrued benefit as
                        security for loan as not preventing
                        distribution.                                 
                  (k)  Spousal consent.                               
                  (l)  Regulations; consultation of Secretary of the
                        Treasury with Secretary of Labor.             
    1056.       Form and payment of benefits.                         
                  (a)  Commencement date for payment of benefits.     
                  (b)  Decrease in plan benefits by reason of
                        increases in benefit levels under Social
                        Security Act or Railroad Retirement Act of
                        1937.                                         
                  (c)  Forfeiture of accrued benefits derived from
                        employer contributions.                       
                  (d)  Assignment or alienation of plan benefits.     
                  (e)  Limitation on distributions other than life
                        annuities paid by plan.                       
                  (f)  Missing participants in terminated plans.      
    1057.       Temporary variances from certain vesting requirements.
    1058.       Mergers and consolidations of plans or transfers of
                 plan assets.                                         
    1059.       Recordkeeping and reporting requirements.             
    1060.       Multiple employer plans.                              
                  (a)  Plan maintained by more than one employer.     
                  (b)  Maintenance of plan of predecessor employer.   
                  (c)  Plan maintained by controlled group of
                        corporations.                                 
                  (d)  Plan of trades or businesses under common
                        control.                                      
    1061.       Effective dates.                                      

                             PART 3 - FUNDING                         
    1081.       Coverage.                                             
                  (a)  Plans excepted from applicability of this part.
                  (b)  "Insurance contract plan" defined.             
                  (c)  Applicability of this part to terminated
                        multiemployer plans.                          
                  (d)  Financial assistance from Pension Benefit
                        Guaranty Corporation.                         
    1082.       Minimum funding standards.                            
                  (a)  Avoidance of accumulated funding deficiency.   
                  (b)  Funding standard account.                      
                  (c)  Methods.                                       
                  (d)  Additional funding requirements for plans which
                        are not multiemployer plans.                  
                  (e)  Quarterly contributions required.              
                  (f)  Imposition of lien where failure to make
                        required contributions.                       
                  (g)  Qualified transfers to health benefit accounts.
                  (h)  Cross reference.                               
    1083.       Variance from minimum funding standard.               
                  (a)  Waiver of requirements in event of business
                        hardship.                                     
                  (b)  Matters considered in determining business
                        hardship.                                     
                  (c)  "Waived funding deficiency" defined.           
                  (d)  Special rules.                                 
                  (e)  Notice of filing of application for waiver.    
                  (f)  Cross reference.                               
    1084.       Extension of amortization periods.                    
                  (a)  Determinations by Secretary in granting
                        extension.                                    
                  (b)  Amendment of plan.                             
                  (c)  Notice of filing of application for extension. 
    1085.       Alternative minimum funding standard.                 
                  (a)  Maintenance of account.                        
                  (b)  Operation of account.                          
                  (c)  Interest.                                      
    1085a.      Security for waivers of minimum funding standard and
                 extensions of amortization period.                   
                  (a)  Security may be required.                      
                  (b)  Consultation with the Pension Benefit Guaranty
                        Corporation.                                  
                  (c)  Exception for certain waivers and extensions.  
    1085b.      Security required upon adoption of plan amendment
                 resulting in significant underfunding.               
                  (a)  In general.                                    
                  (b)  Form of security.                              
                  (c)  Amount of security.                            
                  (d)  Release of security.                           
                  (e)  Notice.                                        
                  (f)  Definitions.                                   
    1086.       Effective dates.                                      

                     PART 4 - FIDUCIARY RESPONSIBILITY                 
    1101.       Coverage.                                             
                  (a)  Scope of coverage.                             
                  (b)  Securities or policies deemed to be included in
                        plan assets.                                  
                  (c)  Clarification of application of ERISA to
                        insurance company general accounts.           
    1102.       Establishment of plan.                                
                  (a)  Named fiduciaries.                             
                  (b)  Requisite features of plan.                    
                  (c)  Optional features of plan.                     
    1103.       Establishment of trust.                               
                  (a)  Benefit plan assets to be held in trust;
                        authority of trustees.                        
                  (b)  Exceptions.                                    
                  (c)  Assets of plan not to inure to benefit of
                        employer; allowable purposes of holding plan
                        assets.                                       
                  (d)  Termination of plan.                           
    1104.       Fiduciary duties.                                     
                  (a)  Prudent man standard of care.                  
                  (b)  Indicia of ownership of assets outside
                        jurisdiction of district courts.              
                  (c)  Control over assets by participant or
                        beneficiary.                                  
                  (d)  Plan terminations.                             
    1105.       Liability for breach of co-fiduciary.                 
                  (a)  Circumstances giving rise to liability.        
                  (b)  Assets held by two or more trustees.           
                  (c)  Allocation of fiduciary responsibility;
                        designated persons to carry out fiduciary
                        responsibilities.                             
                  (d)  Investment managers.                           
    1106.       Prohibited transactions.                              
                  (a)  Transactions between plan and party in
                        interest.                                     
                  (b)  Transactions between plan and fiduciary.       
                  (c)  Transfer of real or personal property to plan
                        by party in interest.                         
    1107.       Limitation with respect to acquisition and holding of
                 employer securities and employer real property by
                 certain plans.                                       
                  (a)  Percentage limitation.                         
                  (b)  Exception.                                     
                  (c)  Election.                                      
                  (d)  Definitions.                                   
                  (e)  Marketable obligations.                        
                  (f)  Maximum percentage of stock held by plan; time
                        of holding or acquisition; necessity of
                        legally binding contract.                     
    1108.       Exemptions from prohibited transactions.              
                  (a)  Grant of exemptions.                           
                  (b)  Enumeration of transactions exempted from
                        section 1106 prohibitions.                    
                  (c)  Fiduciary benefits and compensation not
                        prohibited by section 1106.                   
                  (d)  Owner-employees; family members; shareholder
                        employees.                                    
                  (e)  Acquisition or sale by plan of qualifying
                        employer securities; acquisition, sale, or
                        lease by plan of qualifying employer real
                        property.                                     
                  (f)  Applicability of statutory prohibitions to
                        mergers or transfers.                         
    1109.       Liability for breach of fiduciary duty.               
    1110.       Exculpatory provisions; insurance.                    
    1111.       Persons prohibited from holding certain positions.    
                  (a)  Conviction or imprisonment.                    
                  (b)  Penalty.                                       
                  (c)  Definitions.                                   
                  (d)  Salary of person barred from employee benefit
                        plan office during appeal of conviction.      
    1112.       Bonding.                                              
                  (a)  Requisite bonding of plan officials.           
                  (b)  Unlawful acts.                                 
                  (c)  Conflict of interest prohibited in procuring
                        bonds.                                        
                  (d)  Exclusiveness of statutory basis for bonding
                        requirement for persons handling funds or
                        other property of employee benefit plans.     
                  (e)  Regulations.                                   
    1113.       Limitation of actions.                                
    1114.       Effective date.                                       

                  PART 5 - ADMINISTRATION AND ENFORCEMENT              
    1131.       Criminal penalties.                                   
    1132.       Civil enforcement.                                    
                  (a)  Persons empowered to bring a civil action.     
                  (b)  Plans qualified under Internal Revenue Code;
                        maintenance of actions involving delinquent
                        contributions.                                
                  (c)  Administrator's refusal to supply requested
                        information; penalty for failure to provide
                        annual report in complete form.               
                  (d)  Status of employee benefit plan as entity.     
                  (e)  Jurisdiction.                                  
                  (f)  Amount in controversy; citizenship of parties. 
                  (g)  Attorney's fees and costs; awards in actions
                        involving delinquent contributions.           
                  (h)  Service upon Secretary of Labor and Secretary
                        of the Treasury.                              
                  (i)  Administrative assessment of civil penalty.    
                  (j)  Direction and control of litigation by Attorney
                        General.                                      
                  (k)  Jurisdiction of actions against the Secretary
                        of Labor.                                     
                  (l)  Civil penalties on violations by fiduciaries.  
                  (m)  Penalty for improper distribution.             
    1133.       Claims procedure.                                     
    1134.       Investigative authority.                              
                  (a)  Investigation and submission of reports, books,
                        etc.                                          
                  (b)  Frequency of submission of books and records.  
                  (c)  Other provisions applicable relating to
                        attendance of witnesses and production of
                        books, records, etc.                          
    1135.       Regulations.                                          
    1136.       Coordination and responsibility of agencies enforcing
                 this subchapter and related Federal laws.            
                  (a)  Coordination with other agencies and
                        departments.                                  
                  (b)  Responsibility for detecting and investigating
                        civil and criminal violations of this
                        subchapter and related Federal laws.          
                  (c)  Coordination of enforcement with States with
                        respect to certain arrangements.              
    1137.       Administration.                                       
    1138.       Appropriations.                                       
    1139.       Separability.                                         
    1140.       Interference with protected rights.                   
    1141.       Coercive interference.                                
    1142.       Advisory Council on Employee Welfare and Pension
                 Benefit Plans.                                       
                  (a)  Establishment; membership; terms; appointment
                        and reappointment; vacancies; quorum.         
                  (b)  Duties and functions.                          
                  (c)  Executive secretary; secretarial and clerical
                        services.                                     
                  (d)  Compensation.                                  
                  (e)  Termination.                                   
    1143.       Research, studies, and reports.                       
                  (a)  Authorization to undertake research and
                        surveys.                                      
                  (b)  Omitted.                                       
                  (c)  Cooperation with Congress.                     
    1143a.      Studies by Comptroller General.                       
                  (1)  In general.                                    
                  (2)  Access to books, documents, etc.               
                  (3)  Definitions.                                   
                  (4)  Effective date.                                
    1144.       Other laws.                                           
                  (a)  Supersedure; effective date.                   
                  (b)  Construction and application.                  
                  (c)  Definitions.                                   
                  (d)  Alteration, amendment, modification,
                        invalidation, impairment, or supersedure of
                        any law of the United States prohibited.      
    1144a.      Clarification of church welfare plan status under
                 State insurance law.                                 
                  (a)  In general.                                    
                  (b)  State insurance law.                           
                  (c)  Definitions.                                   
                  (d)  Enforcement authority.                         
                  (e)  Application of section.                        
    1145.       Delinquent contributions.                             
    1146.       Outreach to promote retirement income savings.        
                  (a)  In general.                                    
                  (b)  Methods.                                       
                  (c)  Information to be made available.              
                  (d)  Establishment of site on Internet.             
                  (e)  Coordination.                                  
    1147.       National Summit on Retirement Savings.                
                  (a)  Authority to call Summit.                      
                  (b)  Planning and direction.                        
                  (c)  Purpose of National Summit.                    
                  (d)  Scope of National Summit.                      
                  (e)  National Summit participants.                  
                  (f)  National Summit administration.                
                  (g)  Report.                                        
                  (h)  "State" defined.                               
                  (i)  Authorization of appropriations.               
                  (j)  Financial obligation for fiscal year 1998.     
                  (k)  Contracts.                                     
    1148.       Authority to postpone certain deadlines by reason of
                 Presidentially declared disaster or terroristic or
                 military actions.                                    

     PART 6 - CONTINUATION COVERAGE AND ADDITIONAL STANDARDS FOR GROUP
                               HEALTH PLANS
    1161.       Plans must provide continuation coverage to certain
                 individuals.                                         
                  (a)  In general.                                    
                  (b)  Exception for certain plans.                   
    1162.       Continuation coverage.                                
    1163.       Qualifying event.                                     
    1164.       Applicable premium.                                   
    1165.       Election.                                             
                  (a)  In general.                                    
                  (b)  Temporary extension of COBRA election period
                        for certain individuals.                      
    1166.       Notice requirements.                                  
                  (a)  In general.                                    
                  (b)  Alternative means of compliance with
                        requirements for notification of multiemployer
                        plans by employers.                           
                  (c)  Rules relating to notification of qualified
                        beneficiaries by plan administrator.          
    1167.       Definitions and special rules.                        
    1168.       Regulations.                                          
    1169.       Additional standards for group health plans.          
                  (a)  Group health plan coverage pursuant to medical
                        child support orders.                         
                  (b)  Rights of States with respect to group health
                        plans where participants or beneficiaries
                        thereunder are eligible for medicaid benefits.
                  (c)  Group health plan coverage of dependent
                        children in cases of adoption.                
                  (d)  Continued coverage of costs of a pediatric
                        vaccine under group health plans.             
                  (e)  Regulations.                                   

                  PART 7 - GROUP HEALTH PLAN REQUIREMENTS              

       SUBPART A - REQUIREMENTS RELATING TO PORTABILITY, ACCESS, AND
                               RENEWABILITY
    1181.       Increased portability through limitation on
                 preexisting condition exclusions.                    
                  (a)  Limitation on preexisting condition exclusion
                        period; crediting for periods of previous
                        coverage.                                     
                  (b)  Definitions.                                   
                  (c)  Rules relating to crediting previous coverage. 
                  (d)  Exceptions.                                    
                  (e)  Certifications and disclosure of coverage.     
                  (f)  Special enrollment periods.                    
                  (g)  Use of affiliation period by HMOs as
                        alternative to preexisting condition
                        exclusion.                                    
    1182.       Prohibiting discrimination against individual
                 participants and beneficiaries based on health
                 status.                                              
                  (a)  In eligibility to enroll.                      
                  (b)  In premium contributions.                      
    1183.       Guaranteed renewability in multiemployer plans and
                 multiple employer welfare arrangements.              

                      SUBPART B - OTHER REQUIREMENTS                  
    1185.       Standards relating to benefits for mothers and
                 newborns.                                            
                  (a)  Requirements for minimum hospital stay
                        following birth.                              
                  (b)  Prohibitions.                                  
                  (c)  Rules of construction.                         
                  (d)  Notice under group health plan.                
                  (e)  Level and type of reimbursements.              
                  (f)  Preemption; exception for health insurance
                        coverage in certain States.                   
    1185a.      Parity in application of certain limits to mental
                 health benefits.                                     
                  (a)  In general.                                    
                  (b)  Construction.                                  
                  (c)  Exemptions.                                    
                  (d)  Separate application to each option offered.   
                  (e)  Definitions.                                   
                  (f)  Sunset.                                        
    1185b.      Required coverage for reconstructive surgery following
                 mastectomies.                                        
                  (a)  In general.                                    
                  (b)  Notice.                                        
                  (c)  Prohibitions.                                  
                  (d)  Rule of construction.                          
                  (e)  Preemption, relation to State laws.            

                      SUBPART C - GENERAL PROVISIONS                  
    1191.       Preemption; State flexibility; construction.          
                  (a)  Continued applicability of State law with
                        respect to health insurance issuers.          
                  (b)  Special rules in case of portability
                        requirements.                                 
                  (c)  Rules of construction.                         
                  (d)  Definitions.                                   
    1191a.      Special rules relating to group health plans.         
                  (a)  General exception for certain small group
                        health plans.                                 
                  (b)  Exception for certain benefits.                
                  (c)  Exception for certain benefits if certain
                        conditions met.                               
                  (d)  Treatment of partnerships.                     
    1191b.      Definitions.                                          
                  (a)  Group health plan.                             
                  (b)  Definitions relating to health insurance.      
                  (c)  Excepted benefits.                             
                  (d)  Other definitions.                             
    1191c.      Regulations.                                          

     SUBCHAPTER II - JURISDICTION, ADMINISTRATION, ENFORCEMENT; JOINT
                         PENSION TASK FORCE, ETC.

        SUBTITLE A - JURISDICTION, ADMINISTRATION, AND ENFORCEMENT    
    1201.       Procedures in connection with the issuance of certain
                 determination letters by the Secretary of the
                 Treasury covering qualifications under Internal
                 Revenue Code.                                        
                  (a)  Additional material required of applicants.    
                  (b)  Opportunity to comment on application.         
                  (c)  Intervention by Pension Benefit Guaranty
                        Corporation or Secretary of Labor into
                        declaratory judgment action under section 7476
                        of title 26, action by Corporation authorized.
                  (d)  Notification and information by Secretary of
                        the Treasury to Secretary of Labor upon
                        issuance by Secretary of the Treasury of a
                        determination letter to applicant.            
                  (e)  Effective date.                                
    1202.       Procedures with respect to continued compliance with
                 Internal Revenue requirements relating to
                 participation, vesting, and funding standards.       
                  (a)  Notification by Secretary of the Treasury to
                        Secretary of Labor of issuance of a
                        preliminary notice of intent to disqualify or
                        of commencement of proceedings to determine
                        satisfaction of requirements.                 
                  (b)  Notification to Secretary of Labor before
                        Secretary of the Treasury sends notice of
                        deficiency under section 4971 of title 26;
                        waiver of imposition of tax; requests for
                        investigation; consultation.                  
                  (c)  Extended application of regulations prescribed
                        by Secretary of the Treasury relating to
                        minimum participation standards, minimum
                        vesting standards, and minimum funding
                        standards.                                    
                  (d)  Opportunity afforded Secretary of the Treasury
                        to intervene in cases involving construction
                        or application of minimum standards; review of
                        briefs filed by Pension Benefit Guaranty
                        Corporation or Secretary of Labor.            
                  (e)  Consultative requirements respecting
                        promulgation of proposed or final regulations.
    1203.       Procedures in connection with prohibited transactions.
                  (a)  Notification to Secretary of Labor; opportunity
                        to comment on imposition of tax under section
                        4975 of title 26; waiver; requests for
                        investigations.                               
                  (b)  Consultation.                                  
                  (c)  Transmission of information to Secretary of the
                        Treasury.                                     
    1204.       Coordination between the Department of the Treasury
                 and the Department of Labor.                         

      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
    1221.       Establishment.                                        
    1222.       Duties.                                               

                          PART 2 - OTHER STUDIES                      
    1231.       Congressional study.                                  
    1232.       Protection for employees under Federal procurement,
                 construction, and research contracts and grants.     
                  (a)  Study and investigation by Secretary of Labor. 
                  (b)  Consultation.                                  
                  (c)  Regulations.                                   
                  (d)  Congressional review of regulations; resolution
                        of disapproval.                               

                   SUBTITLE C - ENROLLMENT OF ACTUARIES               
    1241.       Joint Board for the Enrollment of Actuaries.          
    1242.       Enrollment by Board; standards and qualifications;
                 suspension or termination of enrollment.             

                SUBCHAPTER III - PLAN TERMINATION INSURANCE            

             SUBTITLE A - PENSION BENEFIT GUARANTY CORPORATION         
    1301.       Definitions.                                          
    1302.       Pension Benefit Guaranty Corporation.                 
                  (a)  Establishment within Department of Labor.      
                  (b)  Powers of corporation.                         
                  (c)  Omitted.                                       
                  (d)  Board of directors; compensation; reimbursement
                        for expenses.                                 
                  (e)  Meetings.                                      
                  (f)  Adoption of bylaws; amendment, alteration;
                        publication in the Federal Register.          
                  (g)  Exemption from taxation.                       
                  (h)  Advisory committee to corporation.             
                  (i)  Special rules regarding disasters, etc.        
    1303.       Operation of corporation.                             
                  (a)  Investigatory authority; audit of statistically
                        significant number of terminating plans.      
                  (b)  Discovery powers vested in board members or
                        officers designated by the chairman.          
                  (c)  Contempt.                                      
                  (d)  Cooperation with other governmental agencies.  
                  (e)  Civil actions by corporation; jurisdiction;
                        process; expeditious handling of case; costs;
                        limitation on actions.                        
                  (f)  Civil actions against corporation; appropriate
                        court; award of costs and expenses; limitation
                        on actions; jurisdiction; removal of actions. 
    1304.       Repealed.                                             
    1305.       Pension benefit guaranty funds.                       
                  (a)  Establishment of four revolving funds on books
                        of Treasury of the United States.             
                  (b)  Credits to funds; availability of funds;
                        investment of moneys in excess of current
                        needs.                                        
                  (c)  Authority to issue notes or other obligations;
                        purchase by Secretary of the Treasury as
                        public debt transaction.                      
                  (d)  Establishment of fifth fund; purpose,
                        availability, etc.                            
                  (e)  Establishment of sixth fund; purpose,
                        availability, etc.                            
                  (f)  Deposit of premiums into separate revolving
                        fund.                                         
                  (g)  Other use of funds; deposits of repayments.    
                  (h)  Voting by corporation of stock paid as
                        liability.                                    
    1306.       Premium rates.                                        
                  (a)  Schedules for premium rates and bases for
                        application; establishment, coverage, etc.    
                  (b)  Revised schedule; Congressional procedures
                        applicable.                                   
                  (c)  Rates for plans for basic benefits.            
    1307.       Payment of premiums.                                  
                  (a)  Premiums payable when due; accrual; waiver or
                        reduction.                                    
                  (b)  Late payment charge; waiver.                   
                  (c)  Civil action to recover premium penalty and
                        interest.                                     
                  (d)  Basic benefits guarantee not stopped by
                        designated payor's failure to pay premiums
                        when due.                                     
                  (e)  Designated payor.                              
    1308.       Annual report by the corporation.                     
    1309.       Portability assistance.                               
    1310.       Authority to require certain information.             
                  (a)  Information required.                          
                  (b)  Persons required to provide information.       
                  (c)  Information exempt from disclosure
                        requirements.                                 
    1311.       Notice to participants.                               
                  (a)  In general.                                    
                  (b)  Exception.                                     

                           SUBTITLE B - COVERAGE                       
    1321.       Coverage.                                             
                  (a)  Plans covered.                                 
                  (b)  Plans not covered.                             
                  (c)  Definitions.                                   
    1322.       Single-employer plan benefits guaranteed.             
                  (a)  Nonforfeitable benefits.                       
                  (b)  Exceptions.                                    
                  (c)  Payment by corporation to participants and
                        beneficiaries of recovery percentage of
                        outstanding amount of benefit liabilities.    
                  (d)  Authorization to guarantee other classes of
                        benefits.                                     
                  (e)  Nonforfeitability of preretirement survivor
                        annuity.                                      
                  (f)  Effective date of plan amendments.             
    1322a.      Multiemployer plan benefits guaranteed.               
                  (a)  Benefits of covered plans subject to guarantee.
                  (b)  Benefits or benefit increases not eligible for
                        guarantee.                                    
                  (c)  Determinations respecting amount of guarantee. 
                  (d)  Amount of guarantee of reduced benefit.        
                  (e)  Ineligibility of benefits for guarantee.       
                  (f)  Study, report, etc., respecting premium
                        increase in existing basic-benefit guarantee
                        levels; Congressional procedures applicable
                        for revision of schedules.                    
                  (g)  Guarantee of payment of other classes of
                        benefits and establishment of terms and
                        conditions of guarantee; promulgation of
                        regulations for establishment of supplemental
                        program to guarantee benefits otherwise
                        ineligible; status of benefits; applicability
                        of revised schedule of premiums.              
                  (h)  Applicability to nonforfeitable benefits
                        accrued as of July 30, 1980; manner and extent
                        of guarantee.                                 
    1322b.      Aggregate limit on benefits guaranteed; criteria
                 applicable.                                          
    1323.       Plan fiduciaries.                                     

                         SUBTITLE C - TERMINATIONS                     
    1341.       Termination of single-employer plans.                 
                  (a)  General rules governing single-employer plan
                        terminations.                                 
                  (b)  Standard termination of single-employer plans. 
                  (c)  Distress termination of single-employer plans. 
                  (d)  Sufficiency.                                   
                  (e)  Limitation on the conversion of a defined
                        benefit plan to a defined contribution plan.  
    1341a.      Termination of multiemployer plans.                   
                  (a)  Determinative factors.                         
                  (b)  Date of termination.                           
                  (c)  Duties of plan sponsor of amended plan.        
                  (d)  Duties of plan sponsor of nonoperative plan.   
                  (e)  Amount of contribution of employer under
                        amended plan for each plan year subsequent to
                        plan termination date.                        
                  (f)  Payment of benefits; reporting requirements for
                        terminated plans and rules and standards for
                        administration of such plans.                 
    1342.       Institution of termination proceedings by the
                 corporation.                                         
                  (a)  Authority to institute proceedings to terminate
                        a plan.                                       
                  (b)  Appointment of trustee.                        
                  (c)  Adjudication that plan must be terminated.     
                  (d)  Powers of trustee.                             
                  (e)  Filing of application notwithstanding pendency
                        of other proceedings.                         
                  (f)  Exclusive jurisdiction; stay of other
                        proceedings.                                  
                  (g)  Venue.                                         
                  (h)  Compensation of trustee and professional
                        service personnel appointed or retained by
                        trustee.                                      
    1343.       Reportable events.                                    
                  (a)  Notification that event has occurred.          
                  (b)  Notification that event is about to occur.     
                  (c)  Enumeration of reportable events.              
                  (d)  Notification to corporation by Secretary of the
                        Treasury.                                     
                  (e)  Notification to corporation by Secretary of
                        Labor.                                        
                  (f)  Disclosure exemption.                          
    1344.       Allocation of assets.                                 
                  (a)  Order of priority of participants and
                        beneficiaries.                                
                  (b)  Adjustment of allocations; reallocations;
                        mandatory contributions; establishment of
                        subclasses and categories.                    
                  (c)  Increase or decrease in value of assets.       
                  (d)  Distribution of residual assets; restrictions
                        on reversions pursuant to recently amended
                        plans; assets attributable to employee
                        contributions; calculation of remaining
                        assets.                                       
    1345.       Recapture of payments.                                
                  (a)  Authorization to recover benefits.             
                  (b)  Recoverable amount.                            
                  (c)  Payments made on or after death or disability
                        of participant; waiver of recovery in case of
                        hardship.                                     
    1346.       Reports to trustee.                                   
    1347.       Restoration of plans.                                 
    1348.       Termination date.                                     
    1349.       Repealed.                                             
    1350.       Missing participants.                                 
                  (a)  General rule.                                  
                  (b)  Definitions.                                   
                  (c)  Regulatory authority.                          

                          SUBTITLE D - LIABILITY                      
    1361.       Amounts payable by corporation.                       
    1362.       Liability for termination of single-employer plans
                 under a distress termination or a termination by
                 corporation.                                         
                  (a)  In general.                                    
                  (b)  Liability to corporation.                      
                  (c)  Liability to section 1342 trustee.             
                  (d)  Definitions.                                   
                  (e)  Treatment of substantial cessation of
                        operations.                                   
    1363.       Liability of substantial employer for withdrawal from
                 single-employer plans under multiple controlled
                 groups.                                              
                  (a)  Single-employer plans with two or more
                        contributing sponsors.                        
                  (b)  Computation of liability.                      
                  (c)  Bond in lieu of payment of liability; 5-year
                        termination period.                           
                  (d)  Alternate appropriate procedure.               
                  (e)  Indemnity agreement.                           
    1364.       Liability on termination of single-employer plans
                 under multiple controlled groups.                    
    1365.       Annual report of plan administrator.                  
    1366.       Annual notification to substantial employers.         
    1367.       Recovery of liability for plan termination.           
    1368.       Lien for liability.                                   
                  (a)  Creation of lien.                              
                  (b)  Term of lien.                                  
                  (c)  Priority.                                      
                  (d)  Civil action; limitation period.               
                  (e)  Release or subordination.                      
                  (f)  Definitions.                                   
    1369.       Treatment of transactions to evade liability; effect
                 of corporate reorganization.                         
                  (a)  Treatment of transactions to evade liability.  
                  (b)  Effect of corporate reorganization.            
    1370.       Enforcement authority relating to terminations of
                 single-employer plans.                               
                  (a)  In general.                                    
                  (b)  Status of plan as party to action and with
                        respect to legal process.                     
                  (c)  Jurisdiction and venue.                        
                  (d)  Right of corporation to intervene.             
                  (e)  Awards of costs and expenses.                  
                  (f)  Limitation on actions.                         
    1371.       Penalty for failure to timely provide required
                 information.                                         

          SUBTITLE E - SPECIAL PROVISIONS FOR MULTIEMPLOYER PLANS      

                       PART 1 - EMPLOYER WITHDRAWALS                   
    1381.       Withdrawal liability established; criteria and
                 definitions.                                         
    1382.       Determination and collection of liability;
                 notification of employer.                            
    1383.       Complete withdrawal.                                  
                  (a)  Determinative factors.                         
                  (b)  Building and construction industry.            
                  (c)  Entertainment industry.                        
                  (d)  Other determinative factors.                   
                  (e)  Date of complete withdrawal.                   
                  (f)  Special liability withdrawal rules for
                        industries other than construction and
                        entertainment industries; procedures
                        applicable to amend plans.                    
    1384.       Sale of assets.                                       
                  (a)  Complete or partial withdrawal not occurring as
                        a result of sale and subsequent cessation of
                        covered operations or cessation of obligation
                        to contribute to covered operations;
                        continuation of liability of seller.          
                  (b)  Liability of purchaser.                        
                  (c)  Variances or exemptions from continuation of
                        liability of seller; procedures applicable.   
                  (d)  "Unrelated party" defined.                     
    1385.       Partial withdrawals.                                  
                  (a)  Determinative factors.                         
                  (b)  Criteria applicable.                           
                  (c)  Retail food industry.                          
                  (d)  Continuation of liability of employer for
                        partial withdrawal under amended plan.        
    1386.       Adjustment for partial withdrawal; determination of
                 amount; reduction for partial withdrawal liability;
                 procedures applicable.                               
    1387.       Reduction or waiver of complete withdrawal liability;
                 procedures and standards applicable.                 
    1388.       Reduction of partial withdrawal liability.            
                  (a)  Obligation of employer for payments for partial
                        withdrawal for plan years beginning after the
                        second consecutive plan year following the
                        partial withdrawal year; criteria applicable;
                        furnishing of bond in lieu of payment of
                        partial withdrawal liability.                 
                  (b)  Obligation of employer for payments for partial
                        withdrawal for plan years beginning after the
                        second consecutive plan year; other criteria
                        applicable.                                   
                  (c)  Pro rata reduction of amount of partial
                        withdrawal liability payment of employer for
                        plan year following partial withdrawal year.  
                  (d)  Building and construction industry;
                        entertainment industry.                       
                  (e)  Reduction or elimination of partial withdrawal
                        liability under any conditions; criteria;
                        procedures applicable.                        
    1389.       De minimis rule.                                      
                  (a)  Reduction of unfunded vested benefits allocable
                        to employer withdrawn from plan.              
                  (b)  Amendment of plan for reduction of amount of
                        unfunded vested benefits allocable to employer
                        withdrawn from plan.                          
                  (c)  Nonapplicability.                              
                  (d)  Presumption of employer withdrawal from plan
                        pursuant to agreement or arrangement
                        applicable in action or proceeding to
                        determine or collect withdrawal liability.    
    1390.       Nonapplicability of withdrawal liability for certain
                 temporary contribution obligation periods; exception.
    1391.       Methods for computing withdrawal liability.           
                  (a)  Determination of amount of unfunded vested
                        benefits allocable to employer withdrawn from
                        plan.                                         
                  (b)  Factors determining computation of amount of
                        unfunded vested benefits allocable to employer
                        withdrawn from plan.                          
                  (c)  Amendment of multiemployer plan for
                        determination respecting amount of unfunded
                        vested benefits allocable to employer
                        withdrawn from plan; factors determining
                        computation of amount.                        
                  (d)  Method of calculating allocable share of
                        employer of unfunded vested benefits set forth
                        in subsection (c)(3) of this section;
                        applicability of certain statutory provisions.
                  (e)  Reduction of liability of withdrawn employer in
                        case of transfer of liabilities to another
                        plan incident to withdrawal or partial
                        withdrawal of employer.                       
                  (f)  Computations applicable in case of withdrawal
                        following merger of multiemployer plans.      
    1392.       Obligation to contribute.                             
                  (a)  "Obligation to contribute" defined.            
                  (b)  Payments of withdrawal liability not considered
                        contributions.                                
                  (c)  Transactions to evade or avoid liability.      
    1393.       Actuarial assumptions.                                
                  (a)  Use by plan actuary in determining unfunded
                        vested benefits of a plan for computing
                        withdrawal liability of employer.             
                  (b)  Factors determinative of unfunded vested
                        benefits of plan for computing withdrawal
                        liability of employer.                        
                  (c)  Determination of amount of unfunded vested
                        benefits.                                     
    1394.       Application of plan amendments; exception.            
    1395.       Plan notification to corporation of potentially
                 significant withdrawals.                             
    1396.       Special rules for plans under section 404(c) of title
                 26.                                                  
                  (a)  Amount of withdrawal liability; determinative
                        factors.                                      
                  (b)  Covered plans.                                 
                  (c)  Amount of liability of employer; "a year of
                        signatory service" defined.                   
    1397.       Application of part in case of certain pre-1980
                 withdrawals; adjustment of covered plan.             
    1398.       Withdrawal not to occur because of change in business
                 form or suspension of contributions during labor
                 dispute.                                             
    1399.       Notice, collection, etc., of withdrawal liability.    
                  (a)  Furnishing of information by employer to plan
                        sponsor.                                      
                  (b)  Notification, demand for payment, and review
                        upon complete or partial withdrawal by
                        employer.                                     
                  (c)  Payment requirements; amount, etc.             
                  (d)  Applicability of statutory prohibitions.       
    1400.       Approval of amendments.                               
                  (a)  Amendment of covered multiemployer plan;
                        procedures applicable.                        
                  (b)  Amendment respecting methods for computing
                        withdrawal liability.                         
                  (c)  Criteria for disapproval by corporation.       
    1401.       Resolution of disputes.                               
                  (a)  Arbitration proceedings; matters subject to
                        arbitration, procedures applicable, etc.      
                  (b)  Alternative collection proceedings; civil
                        action subsequent to arbitration award;
                        conduct of arbitration proceedings.           
                  (c)  Presumption respecting finding of fact by
                        arbitrator.                                   
                  (d)  Payments by employer prior and subsequent to
                        determination by arbitrator; adjustments;
                        failure of employer to make payments.         
                  (e)  Furnishing of information by plan sponsor to
                        employer respecting computation of withdrawal
                        liability of employer; fees.                  
    1402.       Reimbursements for uncollectible withdrawal liability.
                  (a)  Required supplemental program to reimburse for
                        payments due from employers uncollectible as a
                        result of employer involvement in bankruptcy
                        case or proceedings; program participation,
                        premiums, etc.                                
                  (b)  Discretionary supplemental program to reimburse
                        for payments due from employers uncollectible
                        for other appropriate reasons.                
                  (c)  Payment of cost of program.                    
                  (d)  Terms and conditions, limitations, etc., of
                        supplemental program.                         
                  (e)  Arrangements by corporation with private
                        insurers for implementation of program;
                        election of coverage by participating plans
                        with private insurers.                        
    1403.       Withdrawal liability payment fund.                    
                  (a)  Establishment of or participation in fund by
                        plan sponsors.                                
                  (b)  Definitions.                                   
                  (c)  Payments to plan; amount, criteria, etc.       
                  (d)  Application of payments by plan.               
                  (e)  Subrogation of fund to rights of plan.         
                  (f)  Discharge of rights of fiduciary of fund;
                        standards applicable, etc.                    
                  (g)  Prohibition on payments from fund to plan where
                        certain labor negotiations involve employer
                        withdrawn or partially withdrawn from plan and
                        continuity of labor organization representing
                        employees continues.                          
                  (h)  Purchase of insurance by employer.             
                  (i)  Promulgation of regulations for establishment
                        and maintenance of fund.                      
    1404.       Alternative method of withdrawal liability payments.  
    1405.       Limitation on withdrawal liability.                   
                  (a)  Unfunded vested benefits allocable to employer
                        in bona fide sale of assets of employer in
                        arms-length transaction to unrelated party;
                        maximum amount; determinative factors.        
                  (b)  Unfunded vested benefits allocable to insolvent
                        employer undergoing liquidation or
                        dissolution; maximum amount; determinative
                        factors.                                      
                  (c)  Property not subject to enforcement of
                        liability; precondition.                      
                  (d)  Insolvency of employer; liquidation or
                        dissolution value of employer.                
                  (e)  One or more withdrawals of employer
                        attributable to same sale, liquidation, or
                        dissolution.                                  

         PART 2 - MERGER OR TRANSFER OF PLAN ASSETS OR LIABILITIES     
    1411.       Mergers and transfers between multiemployer plans.    
                  (a)  Authority of plan sponsor.                     
                  (b)  Criteria.                                      
                  (c)  Actions not deemed violation of section 1106(a)
                        or (b)(2) of this title.                      
                  (d)  Nature of plan to which liabilities are
                        transferred.                                  
    1412.       Transfers between a multiemployer plan and a
                 single-employer plan.                                
                  (a)  General authority.                             
                  (b)  Accrued benefit of participant or beneficiary
                        not lower immediately after effective date of
                        transfer or merger.                           
                  (c)  Liability of multiemployer plan to corporation
                        where single-employer plan terminates within
                        60 months after effective date of transfer;
                        amount of liability, exemption, etc.          
                  (d)  Guarantee of benefits under single-employer
                        plan.                                         
                  (e)  Transfer of liabilities by multiemployer plan
                        to single-employer plan.                      
                  (f)  Additional requirements by corporation for
                        protection of interests of plan participants,
                        beneficiaries and corporation; approval by
                        corporation of transfer of assets or
                        liabilities to single-employer plan from plan
                        in reorganization; covered transfers in
                        connection with termination.                  
    1413.       Partition.                                            
                  (a)  Authority of corporation.                      
                  (b)  Authority of plan sponsor upon application to
                        corporation for partition order; procedures
                        applicable to corporation.                    
                  (c)  Authority of corporation notwithstanding
                        pendency of partition proceeding.             
                  (d)  Scope of partition order.                      
                  (e)  Nature of plan created by partition.           
                  (f)  Authority of corporation to obtain decree
                        partitioning plan and appointing trustee for
                        terminated portion of partitioned plan.       
    1414.       Asset transfer rules.                                 
                  (a)  Applicability and scope.                       
                  (b)  Exemption of de minimis transfers.             
                  (c)  Written reciprocity agreements.                
    1415.       Transfers pursuant to change in bargaining
                 representative.                                      
                  (a)  Authority to transfer from old plan to new plan
                        pursuant to employee participation in another
                        multiemployer plan after certified change of
                        representative.                               
                  (b)  Notification by employer of plan sponsor of old
                        plan; notification by plan sponsor of old plan
                        of employer and plan sponsor of new plan;
                        appeal by new plan to prevent transfer;
                        further proceedings.                          
                  (c)  Reduction of amount of withdrawal liability of
                        employer upon transfer of appropriate amount
                        of assets and liabilities by plan sponsor of
                        old plan to new plan.                         
                  (d)  Escrow payments by employer upon complete or
                        partial withdrawal and prior to transfer.     
                  (e)  Prohibition on transfer of assets to new plan
                        by plan sponsor of old plan; exemptions.      
                  (f)  Agreement between plan sponsors of old plan and
                        new plan to transfer in compliance with other
                        statutory provisions; reduction of withdrawal
                        liability of employer from old plan; amount of
                        withdrawal liability of employer to new plan. 
                  (g)  Definitions.                                   

       PART 3 - REORGANIZATION; MINIMUM CONTRIBUTION REQUIREMENT FOR
                            MULTIEMPLOYER PLANS
    1421.       Reorganization status.                                
                  (a)  Reorganization index of plan for plan year
                        greater than zero.                            
                  (b)  Determination of reorganization index of plan
                        for plan year; applicable factors,
                        definitions, etc.                             
                  (c)  Payment of benefits to participants.           
                  (d)  Terminated multiemployer plans.                
    1422.       Notice of reorganization and funding requirements.    
    1423.       Minimum contribution requirement.                     
                  (a)  Maintenance of funding standard account; amount
                        of accumulated funding deficiency.            
                  (b)  Determination of amount; applicable factors.   
                  (c)  Current contribution base; valuation
                        contribution base.                            
                  (d)  Maximum amount; amount of funding standard
                        requirement; applicability to plan amendments
                        increasing benefits.                          
                  (e)  Adjustment of vested benefits charge.          
                  (f)  Waiver of accumulated funding deficiency.      
                  (g)  Statutory methods applicable for
                        determinations.                               
    1424.       Overburden credit against minimum contribution
                 requirement.                                         
                  (a)  Applicability of overburden credit to
                        determinations.                               
                  (b)  Determination of overburden status of plan.    
                  (c)  Amount of overburden credit.                   
                  (d)  Amount of overburden factor.                   
                  (e)  Definitions; determinative factors.            
                  (f)  Eligibility of plan for overburden credit for
                        plan year.                                    
                  (g)  Overburden credit where 2 or more multiemployer
                        plans merge.                                  
    1425.       Adjustments in accrued benefits.                      
                  (a)  Amendment of multiemployer plan in
                        reorganization to reduce or eliminate accrued
                        benefits attributable to employer
                        contributions ineligible for guarantee of
                        corporation; adjustment of vested benefits
                        charge to reflect plan amendment.             
                  (b)  Reduction of accrued benefits; notice by plan
                        sponsors to plan participants and
                        beneficiaries.                                
                  (c)  Recoupment by plan of excess benefit payment.  
                  (d)  Amendment of plan to increase or restore
                        accrued benefits previously reduced or rate of
                        future benefit accruals; conditions,
                        applicable factors, etc.                      
                  (e)  "Inactive participant" defined.                
                  (f)  Promulgation of rules; contents, etc.          
    1426.       Insolvent plans.                                      
                  (a)  Suspension of payments of benefits; conditions,
                        amount, etc.                                  
                  (b)  Determination of insolvency status for plan
                        year; definitions.                            
                  (c)  Determination by plan sponsor of plan in
                        reorganization of resource benefit level of
                        plan for each insolvency year; uniform
                        application of suspension of benefits;
                        adjustments of benefit payments.              
                  (d)  Applicability and determinations respecting
                        plan assets; time for determinations of
                        resource benefit level and level of basic
                        benefits.                                     
                  (e)  Notice, etc., requirements of plan sponsor of
                        plan in reorganization regarding insolvency
                        and resource benefit levels.                  
                  (f)  Financial assistance from corporation;
                        conditions and criteria applicable.           

                       PART 4 - FINANCIAL ASSISTANCE                   
    1431.       Assistance by corporation.                            
                  (a)  Authority; procedure applicable; amount.       
                  (b)  Conditions; repayment terms.                   
                  (c)  Assistance pending final determination of
                        application.                                  

                    PART 5 - BENEFITS AFTER TERMINATION                
    1441.       Benefits under certain terminated plans.              
                  (a)  Amendment of plan by plan sponsor to reduce
                        benefits, and suspension of benefit payments. 
                  (b)  Determinations respecting value of
                        nonforfeitable benefits under terminated plan
                        and value of assets of plan.                  
                  (c)  Amendment of plan by plan sponsor to reduce
                        benefits for conservation of assets; factors
                        applicable.                                   
                  (d)  Suspension of benefit payments; determinative
                        factors; powers and duties of plan sponsor;
                        retroactive benefit payments.                 

                           PART 6 - ENFORCEMENT                       
    1451.       Civil actions.                                        
                  (a)  Persons entitled to maintain actions.          
                  (b)  Failure of employer to make withdrawal
                        liability payment within prescribed time.     
                  (c)  Jurisdiction of Federal and State courts.      
                  (d)  Venue and service of process.                  
                  (e)  Costs and expenses.                            
                  (f)  Time limitations.                              
                  (g)  Service of complaint on corporation;
                        intervention by corporation.                  
    1452.       Penalty for failure to provide notice.                
    1453.       Election of plan status.                              
                  (a)  Authority, time, and criteria.                 
                  (b)  Requirements.                                  
                  (c)  Effective date.                                

             SUBTITLE F - TRANSITION RULES AND EFFECTIVE DATES         
    1461.       Effective date; special rules.                        

-SECREF-
                   CHAPTER REFERRED TO IN OTHER SECTIONS               
      This chapter is referred to in section 441 of this title; title 7
    section 1a; title 15 sections 77b, 78c, 631b, 662; title 18 section
    1027; title 20 section 1085; title 26 sections 412, 414; title 26
    section 404; title 31 section 9502; title 42 sections 1395w-22,
    1396s, 1396u-2; title 45 section 743.

-End-


-CITE-
    29 USC SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT
           RIGHTS                                          01/06/03

-EXPCITE-
    TITLE 29 - LABOR
    CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
    SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS

-HEAD-
           SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS       

-SECREF-
                 SUBCHAPTER REFERRED TO IN OTHER SECTIONS             
      This subchapter is referred to in sections 1201, 1202, 1203, 1343
    of this title; title 18 sections 664, 1027, 1954; title 19 section
    2345; title 26 section 6103; title 42 sections 666, 1395i.

-End-


-CITE-
    29 USC Subtitle A - General Provisions                      01/06/03

-EXPCITE-
    TITLE 29 - LABOR
    CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
    SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS
    Subtitle A - General Provisions

-HEAD-
                      SUBTITLE A - GENERAL PROVISIONS                  

-End-



-CITE-
    29 USC Sec. 1001                                            01/06/03

-EXPCITE-
    TITLE 29 - LABOR
    CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
    SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS
    Subtitle A - General Provisions

-HEAD-
    Sec. 1001. Congressional findings and declaration of policy

-STATUTE-
    (a) Benefit plans as affecting interstate commerce and the Federal
      taxing power
      The Congress finds that the growth in size, scope, and numbers of
    employee benefit plans in recent years has been rapid and
    substantial; that the operational scope and economic impact of such
    plans is increasingly interstate; that the continued well-being and
    security of millions of employees and their dependents are directly
    affected by these plans; that they are affected with a national
    public interest; that they have become an important factor
    affecting the stability of employment and the successful
    development of industrial relations; that they have become an
    important factor in commerce because of the interstate character of
    their activities, and of the activities of their participants, and
    the employers, employee organizations, and other entities by which
    they are established or maintained; that a large volume of the
    activities of such plans are carried on by means of the mails and
    instrumentalities of interstate commerce; that owing to the lack of
    employee information and adequate safeguards concerning their
    operation, it is desirable in the interests of employees and their
    beneficiaries, and to provide for the general welfare and the free
    flow of commerce, that disclosure be made and safeguards be
    provided with respect to the establishment, operation, and
    administration of such plans; that they substantially affect the
    revenues of the United States because they are afforded
    preferential Federal tax treatment; that despite the enormous
    growth in such plans many employees with long years of employment
    are losing anticipated retirement benefits owing to the lack of
    vesting provisions in such plans; that owing to the inadequacy of
    current minimum standards, the soundness and stability of plans
    with respect to adequate funds to pay promised benefits may be
    endangered; that owing to the termination of plans before requisite
    funds have been accumulated, employees and their beneficiaries have
    been deprived of anticipated benefits; and that it is therefore
    desirable in the interests of employees and their beneficiaries,
    for the protection of the revenue of the United States, and to
    provide for the free flow of commerce, that minimum standards be
    provided assuring the equitable character of such plans and their
    financial soundness.
    (b) Protection of interstate commerce and beneficiaries by
      requiring disclosure and reporting, setting standards of conduct,
      etc., for fiduciaries
      It is hereby declared to be the policy of this chapter to protect
    interstate commerce and the interests of participants in employee
    benefit plans and their beneficiaries, by requiring the disclosure
    and reporting to participants and beneficiaries of financial and
    other information with respect thereto, by establishing standards
    of conduct, responsibility, and obligation for fiduciaries of
    employee benefit plans, and by providing for appropriate remedies,
    sanctions, and ready access to the Federal courts.
    (c) Protection of interstate commerce, the Federal taxing power,
      and beneficiaries by vesting of accrued benefits, setting minimum
      standards of funding, requiring termination insurance
      It is hereby further declared to be the policy of this chapter to
    protect interstate commerce, the Federal taxing power, and the
    interests of participants in private pension plans and their
    beneficiaries by improving the equitable character and the
    soundness of such plans by requiring them to vest the accrued
    benefits of employees with significant periods of service, to meet
    minimum standards of funding, and by requiring plan termination
    insurance.

-SOURCE-
    (Pub. L. 93-406, title I, Sec. 2, Sept. 2, 1974, 88 Stat. 832.)

-REFTEXT-
                            REFERENCES IN TEXT                        
      This chapter, referred to in subsecs. (b) and (c), was in the
    original "this Act", meaning Pub. L. 93-406, known as the Employee
    Retirement Income Security Act of 1974. Titles I, III, and IV of
    such Act are classified principally to this chapter. For complete
    classification of this Act to the Code, see Short Title note set
    out below and Tables.


-MISC1-
           EFFECTIVE DATE OF 1984 AMENDMENTS; TRANSITIONAL RULES       
      Pub. L. 98-397, title III, Secs. 302, 303, Aug. 23, 1984, 98
    Stat. 1451, 1452, as amended by Pub. L. 99-514, Sec. 2, title XI,
    Sec. 1145(c), title XVIII, Sec. 1898(g), (h)(1)(A), (2), (3), Oct.
    22, 1986, 100 Stat. 2095, 2491, 2956, 2957; Pub. L. 101-239, title
    VII, Sec. 7861(d)(1), Dec. 19, 1989, 103 Stat. 2431, provided that:

      "SEC. 302. GENERAL EFFECTIVE DATES.
      "(a) In General. - Except as otherwise provided in this section
    or section 303, the amendments made by this Act [see Short Title of
    1984 Amendments note below] shall apply to plan years beginning
    after December 31, 1984.
      "(b) Special Rule for Collective Bargaining Agreements. - In the
    case of a plan maintained pursuant to 1 or more collective
    bargaining agreements between employee representatives and 1 or
    more employers ratified before the date of the enactment of this
    Act [Aug. 23, 1984], except as provided in subsection (d) or
    section 303, the amendments made by this Act shall not apply to
    plan years beginning before the earlier of - 
        "(1) the date on which the last of the collective bargaining
      agreements relating to the plan terminates (determined without
      regard to any extension thereof agreed to after the date of the
      enactment of this Act [Aug. 23, 1984]), or
        "(2) July 1, 1988.
    For purposes of paragraph (1), any plan amendment made pursuant to
    a collective bargaining agreement relating to the plan which amends
    the plan solely to conform to any requirement added by title I or
    II [of Pub. L. 98-397] shall not be treated as a termination of
    such collective bargaining agreement.
      "(c) Notice Requirement. - The amendments made by section 207
    [amending sections 402 and 6652 of Title 26, Internal Revenue Code]
    shall apply to distributions after December 31, 1984.
      "(d) Special Rules for Treatment of Plan Amendments. - 
        "(1) In general. - Except as provided in paragraph (2), the
      amendments made by section 301 [amending section 1054 of this
      title and sections 401 and 411 of Title 26] shall apply to plan
      amendments made after July 30, 1984.
        "(2) Special rule for collective bargaining agreements. - In
      the case of a plan maintained pursuant to 1 or more collective
      bargaining agreements entered into before January 1, 1985, which
      are - 
          "(A) between employee representatives and 1 or more
        employers, and
          "(B) successor agreements to 1 or more collective bargaining
        agreements which terminate after July 30, 1984, and before
        January 1, 1985,
      the amendments made by section 301 shall not apply to plan
      amendments adopted before April 1, 1985, pursuant to such
      successor agreements (without regard to any modification or
      reopening after December 31, 1984).

      "SEC. 303. TRANSITIONAL RULES.
      "(a) Amendments Relating to Vesting Rules; Breaks in Service;
    Maternity or Paternity Leave. - 
        "(1) Minimum age for vesting. - The amendments made by sections
      102(b) and 202(b) [amending section 1053 of this title and
      section 411 of Title 26, Internal Revenue Code] shall apply in
      the case of participants who have at least 1 hour of service
      under the plan on or after the first day of the first plan year
      to which the amendments made by this Act [see Short Title of 1984
      Amendments note below] apply.
        "(2) Break in service rules. - If, as of the day before the
      first day of the first plan year to which the amendments made by
      this Act apply, section 202(a) or (b) or 203(b) of the Employee
      Retirement Income Security Act of 1974 [section 1052(a) or (b) or
      section 1053(b) of this title] or section 410(a) or 411(a) of the
      Internal Revenue Code of 1986 [section 410(a) or section 411(a)
      of Title 26] (as in effect on the day before the date of the
      enactment of this Act [Aug. 23, 1984]) would not require any
      service to be taken into account, nothing in the amendments made
      by subsections (c) and (d) of section 102 of this Act [amending
      sections 1052 and 1053 of this title] and subsections (c) and (d)
      of section 202 of this Act [amending sections 410 and 411 of
      Title 26] shall be construed as requiring such service to be
      taken into account under such section 202(a) or (b), 203(b),
      410(a), or 411(a); as the case may be.
        "(3) Maternity or paternity leave. - The amendments made by
      sections 102(e) and 202(e) [amending sections 1052 to 1054 of
      this title and sections 410 and 411 of Title 26] shall apply in
      the case of absences from work which begin on or after the first
      day of the first plan year to which the amendments made by this
      Act apply.
      "(b) Special Rule for Amendments Relating to Maternity or
    Paternity Absences. - If a plan is administered in a manner which
    would meet the amendments made by sections 102(e) and 202(e)
    [amending sections 1052 to 1054 of this title and sections 410 and
    411 of Title 26] (relating to certain maternity or paternity
    absences not treated as breaks in service), such plan need not be
    amended to meet such requirements until the earlier of - 
        "(1) the date on which such plan is first otherwise amended
      after the date of the enactment of this Act [Aug. 23, 1984], or
        "(2) the beginning of the first plan year beginning after
      December 31, 1986.
      "(c) Requirement of Joint and Survivor Annuity and Preretirement
    Survivor Annuity. - 
        "(1) Requirement that participant have at least 1 hour of
      service or paid leave on or after date of enactment. - The
      amendments made by sections 103 and 203 [amending section 1055 of
      this title and section 401 of Title 26 and enacting section 417
      of Title 26] shall apply only in the case of participants who
      have at least 1 hour of service under the plan on or after the
      date of the enactment of this Act [Aug. 23, 1984] or have at
      least 1 hour of paid leave on or after such date of enactment.
        "(2) Requirement that preretirement survivor annuity be
      provided in case of certain participants dying on or after date
      of enactment. - In the case of any participant - 
          "(A) who has at least 1 hour of service under the plan on or
        after the date of the enactment of this Act [Aug. 23, 1984] or
        has at least 1 hour of paid leave on or after such date of
        enactment,
          "(B) who dies before the annuity starting date, and
          "(C) who dies on or after the date of the enactment of this
        Act [Aug. 23, 1984] and before the first day of the first plan
        year to which the amendments made by this Act apply,
      the amendments made by sections 103 and 203 shall be treated as
      in effect as of the time of such participant's death. In the case
      of a profit-sharing or stock bonus plan to which this paragraph
      applies, the plan shall be treated as meeting the requirements of
      the amendments made by sections 103 and 203 with respect to any
      participant if the plan made a distribution in a form other than
      a life annuity to the surviving spouse of the participant of such
      participant's nonforfeitable benefit.
        "(3) Spousal consent required for certain elections after
      december 31, 1984. - Any election after December 31, 1984, and
      before the first day of the first plan year to which the
      amendments made by this Act apply not to take a joint and
      survivor annuity shall not be effective unless the requirements
      of section 205(c)(2) of the Employee Retirement Income Security
      Act of 1974 [section 1055(c)(2) of this title] (as amended by
      section 103 of this Act) and section 417(a)(2) of the Internal
      Revenue Code of 1986 [section 417(a)(2) of Title 26] (as added by
      section 203 of this Act) are met with respect to such election.
        "(4) Elimination of double death benefits. - 
          "(A) In general. - In the case of a participant described in
        paragraph (2), death benefits (other than a qualified joint and
        survivor annuity or a qualified preretirement survivor annuity)
        payable to any beneficiary shall be reduced by the amount
        payable to the surviving spouse of such participant by reason
        of paragraph (2). The reduction under the preceding sentence
        shall be made on the basis of the respective present values (as
        of the date of the participant's death) of such death benefits
        and the amount so payable to the surviving spouse.
          "(B) Spouse may waive provisions of paragraph (2). - In the
        case of any participant described in paragraph (2), the
        surviving spouse of such participant may waive the provisions
        of paragraph (2). Such waiver shall be made on or before the
        close of the second plan year to which the amendments made by
        section 103 of this Act [amending section 1055 of this title]
        apply. Such a waiver shall not be treated as a transfer of
        property for purposes of chapter 12 of the Internal Revenue
        Code of 1986 and shall not be treated as an assignment or
        alienation for purposes of section 401(a)(13) of the Internal
        Revenue Code of 1986 [section 401(a)(13) of Title 26] or
        section 206(d) of the Employee Retirement Income Security Act
        of 1974 [section 1056 of this title].
      "(d) Amendments Relating to Assignments in Divorce, Etc.,
    Proceedings. - The amendments made by sections 104 and 204
    [amending sections 1056 and 1144 of this title and sections 72,
    401, 402 and 414 of Title 26] shall take effect on January 1, 1985,
    except that in the case of a domestic relations order entered
    before such date, the plan administrator - 
        "(1) shall treat such order as a qualified domestic relations
      order if such administrator is paying benefits pursuant to such
      order on such date, and
        "(2) may treat any other such order entered before such date as
      a qualified domestic relations order even if such order does not
      meet the requirements of such amendments.
      "(e) Treatment of Certain Participants Who Separate From Service
    Before Date of Enactment. - 
        "(1) Joint and survivor annuity provisions of employee
      retirement income security act of 1974 apply to certain
      participants. - If - 
          "(A) a participant had at least 1 hour of service under the
        plan on or after September 2, 1974,
          "(B) section 205 of the Employee Retirement Income Security
        Act of 1974 [section 1055 of this title] and section 401(a)(11)
        of the Internal Revenue Code of 1986 [section 401(a)(11) of
        Title 26] (as in effect on the day before the date of the
        enactment of this Act [Aug. 23, 1984]) would not (but for this
        paragraph) apply to such participant,
          "(C) the amendments made by sections 103 and 203 [amending
        section 1055 of this title and section 401 of Title 26 and
        enacting section 417 of Title 26] of this Act do not apply to
        such participant, and
          "(D) as of the date of the enactment of this Act [Aug. 23,
        1984], the participant's annuity starting date has not occurred
        and the participant is alive,
      then such participant may elect to have section 205 of the
      Employee Retirement Income Security Act of 1974 [section 1055 of
      this title] and section 401(a)(11) of the Internal Revenue Code
      of 1986 [section 401(a)(11) of Title 26] (as in effect on the day
      before the date of the enactment of this Act) apply.
        "(2) Treatment of certain participants who perform service on
      or after january 1, 1976. - If - 
          "(A) a participant had at least 1 hour of service in any plan
        year beginning on or after January 1, 1976,
          "(B) the amendments made by sections 103 and 203 [amending
        section 1055 of this title and section 401 of Title 26 and
        enacting section 417 of Title 26] would not (but for this
        paragraph) apply to such participant,
          "(C) when such participant separated from service, such
        participant had at least 10 years of service under the plan and
        had a nonforfeitable right to all (or any portion) of such
        participant's accrued benefit derived from employer
        contributions, and
          "(D) as of the date of the enactment of this Act [Aug. 23,
        1984], such participant's annuity starting date has not
        occurred and such participant is alive,
      then such participant may elect to have the qualified
      preretirement survivor annuity requirements of the amendments
      made by sections 103 and 203 apply.
        "(3) Period during which election may be made. - An election
      under paragraph (1) or (2) may be made by any participant during
      the period - 
          "(A) beginning on the date of the enactment of this Act [Aug.
        23, 1984], and
          "(B) ending on the earlier of the participant's annuity
        starting date or the date of the participant's death.
        "(4) Requirement of notice. - 
          "(A) In general. - 
            "(i) Time and manner. - Every plan shall give notice of the
          provisions of this subsection at such time or times and in
          such manner or manners as the Secretary of the Treasury may
          prescribe.
            "(ii) Penalty. - If any plan fails to meet the requirements
          of clause (i), such plan shall pay a civil penalty to the
          Secretary of the Treasury equal to $1 per participant for
          each day during the period beginning with the first day on
          which such failure occurs and ending on the day before notice
          is given by the plan; except that the amount of such penalty
          imposed on any plan shall not exceed $2,500.
          "(B) Responsibilities of secretary of labor. - The Secretary
        of Labor shall take such steps (by public announcements and
        otherwise) as may be necessary or appropriate to bring to
        public attention the provisions of this subsection.
      "(f) The amendments made by section 301 of this Act [amending
    section 1054 of this title and sections 401 and 411 of Title 26]
    shall not apply to the termination of a defined benefit plan if
    such termination - 
        "(1) is pursuant to a resolution directing the termination of
      such plan which was adopted by the Board of Directors of a
      corporation on July 17, 1984, and
        "(2) occurred on November 30, 1984."
      [Amendment by section 1145(c) of Pub. L. 99-514 applicable as if
    included in the amendments made by the Retirement Equity Act of
    1984, Pub. L. 98-397, see section 1145(d) of Pub. L. 99-514, set
    out as a note under section 401 of Title 26.]
      [Amendment by section 1898(g), (h)(1)(A), (2), (3) of Pub. L.
    99-514 effective as if included in the provision of the Retirement
    Equity Act of 1984, Pub. L. 98-397, to which such amendment
    relates, except as otherwise provided, see section 1898(j) of Pub.
    L. 99-514, set out as a note under section 401 of Title 26.]

                       SHORT TITLE OF 1997 AMENDMENT                   
      Pub. L. 105-92, Sec. 1, Nov. 19, 1997, 111 Stat. 2139, provided
    that: "This Act [enacting sections 1146 and 1147 of this title and
    provisions set out as a note under section 1146 of this title] may
    be cited as the 'Savings Are Vital to Everyone's Retirement Act of
    1997'."

                       SHORT TITLE OF 1994 AMENDMENT                   
      Pub. L. 103-401, Sec. 1, Oct. 22, 1994, 108 Stat. 4172, provided
    that: "This Act [amending section 1132 of this title and enacting
    provisions set out as notes under section 1132 of this title] may
    be cited as the 'Pension Annuitants Protection Act of 1994'."

                       SHORT TITLE OF 1991 AMENDMENT                   
      Pub. L. 102-89, Sec. 1, Aug. 14, 1991, 105 Stat. 446, provided
    that: "This Act [amending section 1002 of this title and enacting
    provisions set out as a note under section 1002 of this title] may
    be cited as the 'Rural Telephone Cooperative Associations ERISA
    Amendments Act of 1991'."

                       SHORT TITLE OF 1986 AMENDMENT                   
      Pub. L. 99-272, title XI, Sec. 11001, Apr. 7, 1986, 100 Stat.
    237, provided that: "This title [enacting sections 1001b, 1085a,
    1143a, 1349, 1369, and 1370 of this title, amending sections 1002,
    1023, 1024, 1054, 1061, 1083, 1084, 1086, 1301, 1303, 1305, 1306,
    1322, 1322a, 1341, 1342, 1344, 1347, 1348, 1362 to 1364, and 1366
    to 1368 of this title, and sections 402, 404, 412, and 501 of Title
    26, Internal Revenue Code, repealing section 1304 of this title,
    and enacting provisions set out as notes under sections 1023, 1054,
    1085a, 1135, 1143a, 1303, 1306, 1341, 1362, and 1369 of this title
    and section 404 of Title 26] may be cited as 'Single-Employer
    Pension Plan Amendments Act of 1986'."

                       SHORT TITLE OF 1984 AMENDMENT                   
      Pub. L. 98-397, Sec. 1, Aug. 23, 1984, 98 Stat. 1426, provided
    that: "This Act [enacting section 417 of Title 26, Internal Revenue
    Code, amending sections 1025, 1052 to 1056, and 1144 of this title
    and sections 72, 401, 402, 410, 411, 414, 6057, and 6652 of Title
    26, and enacting provisions set out as notes under this section]
    may be cited as the 'Retirement Equity Act of 1984'."

                       SHORT TITLE OF 1980 AMENDMENT                   
      Pub. L. 96-364, Sec. 1, Sept. 26, 1980, 94 Stat. 1208, provided
    that: "This Act [enacting sections 1001a, 1145, 1322a, 1322b, 1323,
    1341a, 1381 to 1405, 1411 to 1415, 1421 to 1426, 1431, 1441, and
    1451 to 1453 of this title and sections 418 to 418E of Title 26,
    Internal Revenue Code, amending sections 1002, 1023, 1051, 1053,
    1058, 1081, 1082, 1103, 1104, 1108, 1132, 1202, 1301 to 1303, 1305
    to 1307, 1321, 1322, 1341, 1342, 1344, 1346, 1348, 1361 to 1366,
    and 1461 of this title, section 8521 of Title 5, Government
    Organization and Employees, and sections 194, 401, 404, 411 to 414,
    501, 3304, 4971 and 4975 of Title 26, repealing former section 1323
    of this title, and enacting provisions set out as notes under this
    section, sections 1001a, 1302, 1306, 1381, 1385, 1426 and 1461 of
    this title, section 8521 of Title 5, and sections 401, 404, 414,
    418, and 3304 of Title 26] may be cited as the 'Multiemployer
    Pension Plan Amendments Act of 1980'."

                                SHORT TITLE                            
      Section 1 of Pub. L. 93-406 provided that: "This Act [enacting
    this chapter, sections 408 to 415, 4971 to 4975, 6057 to 6059,
    6692, and 6693 of Title 26, Internal Revenue Code, section 1037 of
    former Title 31, Money and Finance, and section 1320b-1 of Title
    42, The Public Health and Welfare, amending section 441 of this
    title, sections 5108 and 5109 of Title 5, Government Organization
    and Employees, sections 664, 1027, and 1954 of Title 18, Crimes and
    Criminal Procedure, sections 37, 46, 56, 62, 72, 101, 122, 219,
    220, 275, 401, 402, 403, 404, 405, 406, 407, 503, 801, 805, 871,
    901, 1304, 1348, 1379, 2039, 3401, 6033, 6047, 6051, 6103, 6104,
    6161, 6201, 6204, 6211, 6212, 6213, 6214, 6344, 6501, 6503, 6511,
    6512, 6601, 6652, 6653, 6659, 6676, 6677, 6679, 6682, 6688, 6690,
    6861, 6862, 7422, 7451, 7459, 7482, 7701, and 7802, of Title 26,
    and section 846 of former Title 31, repealing sections 301 to 309
    of this title, and enacting provisions set out as notes under
    sections 72, 122, 219, 401, 402, 403, 404, 410, 411, 412, 415, 501,
    4973, 4975, 6057, 6059, 6103, 6104, 7476, and 7802 of Title 26] may
    be cited as the 'Employee Retirement Income Security Act of 1974'."

        COORDINATION OF INTERNAL REVENUE CODE OF 1986 WITH EMPLOYEE
                  RETIREMENT INCOME SECURITY ACT OF 1974
      This subchapter and subchapter III of this chapter not applicable
    in interpreting Internal Revenue Code of 1986, except to the extent
    specifically provided in such Code, or as determined by the
    Secretary of the Treasury, see section 9343(a) of Pub. L. 100-203,
    set out as a note under section 401 of Title 26, Internal Revenue
    Code.

      STUDY BY COMPTROLLER GENERAL OF THE UNITED STATES OF EFFECT OF
                          PENSION RULES ON WOMEN
      Pub. L. 98-397, title III, Sec. 304, Aug. 23, 1984, 98 Stat.
    1454, directed Comptroller General to conduct detailed study of
    effect on women of participation, vesting, funding, integration,
    survivorship features, and other relevant plan and Federal pension
    rules and, not later than Jan. 1, 1990, submit a report on the
    study to Congress.

          STUDY BY GENERAL ACCOUNTING OFFICE REGARDING RESULTS OF
       MULTIEMPLOYER PENSION PLAN AMENDMENTS ACT OF 1980; PROCEDURES
                                APPLICABLE
      Pub. L. 96-364, title IV, Sec. 413, Sept. 26, 1980, 94 Stat.
    1309, directed Comptroller General to conduct a study of effects of
    amendments made by Pub. L. 99-364 on: participants, beneficiaries,
    employers, employee organizations, and other parties, and the
    self-sufficiency of the fund established under section 1305 of this
    title with respect to benefits guaranteed under section 1322a of
    this title, taking into account financial conditions of
    multiemployer plans and employers and to report to Congress no
    later than June 30, 1985, results of study including his
    recommendations with respect thereto.

       PRESIDENT'S COMMISSION ON PENSION POLICY; EXTENSION OF TERM;
                          CONTINUATION OF EFFORT
      Pub. L. 96-14, May 24, 1979, 93 Stat. 29, known as the Pension
    Policy Commission Act, authorized the President's Commission on
    Pension Policy established by Ex. Ord. No. 12071 to continue in
    operation for two years following May 24, 1979, and set forth
    membership, compensation, implementation, and reporting
    requirements, with the Commission to cease to exist ninety days
    after submission of the final report.

                     REORGANIZATION PLAN NO. 4 OF 1978                 

                       43 F.R. 47713, 92 STAT. 3790                   
    Prepared by the President and transmitted to the Senate and the
      House of Representatives in Congress assembled, August 10, 1978,
      pursuant to the provisions of Chapter 9 of Title 5 of the United
      States Code.(!1)


             EMPLOYEE RETIREMENT INCOME SECURITY ACT TRANSFERS         

          SECTION 101. TRANSFER TO THE SECRETARY OF THE TREASURY      
      Except as otherwise provided in Sections 104 and 106 of this
    Plan, all authority of the Secretary of Labor to issue the
    following described documents pursuant to the statutes hereinafter
    specified is hereby transferred to the Secretary of the Treasury:
      (a) regulations, rulings, opinions, variances and waivers under
    Parts 2 [29 U.S.C. 1051 et seq.] and 3 [29 U.S.C. 1081 et seq.] of
    Subtitle B of Title I and subsection 1012(c) [set out as a note
    under 26 U.S.C. 411] of Title II of the Employee Retirement Income
    Security Act of 1974 (29 U.S.C. 1001 note) (hereinafter referred to
    as "ERISA").
        EXCEPT for sections and subsections 201, 203(a)(3)(B), 209, and
      301(a) of ERISA; [29 U.S.C. 1051, 1053(a)(3)(B), 1059, and
      1081(a)];

      (b) such regulations, rulings, and opinions which are granted to
    the Secretary of Labor under Sections 404, 410, 411, 412, and 413
    of the Internal Revenue Code of 1954, as amended [26 U.S.C. 404,
    410, 411, 412, and 413], (hereinafter referred to as the "Code").
        EXCEPT for subsection 411(a)(3)(B) of the Code [26 U.S.C.
      411(a)(3)(B)] and the definitions of "collectively bargained
      plan" and "collective bargaining agreement" contained in
      subsections 404 (a)(1)(B) and (a)(1)(C), 410 (b)(2)(A) and
      (b)(2)(B), and 413(a)(1) of the Code [26 U.S.C. 404(a)(1)(B) and
      (a)(1)(C), 410 (b)(2)(A) and (b)(2)(B), and 413(a)(1)]; and

      (c) regulations, rulings, and opinions under subsections 3(19),
    3(22), 3(23), 3(24), 3(25), 3(27), 3(28), 3(29), 3(30), and 3(31)
    of Subtitle A of Title I of ERISA [29 U.S.C. 1002(19), (22), (23),
    (24), (25), (27), (28), (29), (30), and (31)].

               SEC. 102. TRANSFER TO THE SECRETARY OF LABOR           
      Except as otherwise provided in Section 105 of this Plan, all
    authority of the Secretary of the Treasury to issue the following
    described documents pursuant to the statutes hereinafter specified
    is hereby transferred to the Secretary of Labor;
      (a) regulations, rulings, opinions, and exemptions under section
    4975 of the Code [26 U.S.C. 4975],
        EXCEPT for (i) subsections 4975(a), (b), (c)(3), (d)(3),
      (c)(1), and (e)(7) of the Code [26 U.S.C. 4975(a), (b), (c)(3),
      (d)(3), (e)(1), and (e)(7)]; (ii) to the extent necessary for the
      continued enforcement of subsections 4975(a) and (b) [26 U.S.C.
      4975(a) and (b)] by the Secretary of the Treasury, subsections
      4975(f)(1), (f)(2), (f)(4), (f)(5) and (f)(6) of the Code [26
      U.S.C. 4975(f)(1), (f)(2), (f)(4), (f)(5) and (f)(6)]; and (iii)
      exemptions with respect to transactions that are exempted by
      subsection 404(c) of ERISA [29 U.S.C. 1104(c)] from the
      provisions of Part 4 of Subtitle B of Title I of ERISA [29 U.S.C.
      1101 et seq.]; and

      (b) regulations, rulings, and opinions under subsection 2003(c)
    of ERISA [set out as a note under 29 U.S.C. 4975].
        EXCEPT for subsection 2003(c)(1)(B) [set out in the note under
      26 U.S.C. 4975].

        SEC. 103. COORDINATION CONCERNING CERTAIN FIDUCIARY ACTIONS    
      In the case of fiduciary actions which are subject to Part 4 of
    Subtitle B of Title I of ERISA [29 U.S.C. 1101 et seq.], the
    Secretary of the Treasury shall notify the Secretary of Labor prior
    to the time of commencing any proceeding to determine whether the
    action violates the exclusive benefit rule of subsection 401(a) of
    the Code [26 U.S.C. 401(a)], but not later than prior to issuing a
    preliminary notice of intent to disqualify under that rule, and the
    Secretary of the Treasury shall not issue a determination that a
    plan or trust does not satisfy the requirements of subsection
    401(a) by reason of the exclusive benefit rule of subsection
    401(a), unless within 90 days after the date on which the Secretary
    of the Treasury notifies the Secretary of Labor of pending action,
    the Secretary of Labor certifies that he has no objection to the
    disqualification or the Secretary of Labor fails to respond to the
    Secretary of the Treasury. The requirements of this paragraph do
    not apply in the case of any termination or jeopardy assessment
    under sections 6851 or 6861 of the Code [26 U.S.C. 6851 or 6861]
    that has been approved in advance by the Commissioner of Internal
    Revenue, or, as delegated, the Assistant Commissioner for Employee
    Plans and Exempt Organizations.

              SEC. 104. ENFORCEMENT BY THE SECRETARY OF LABOR          
      The transfers provided for in Section 101 of this Plan shall not
    affect the ability of the Secretary of Labor, subject to the
    provisions of Title III of ERISA [29 U.S.C. 1201 et seq.] relating
    to jurisdiction, administration, and enforcement, to engage in
    enforcement under Section 502 of ERISA [29 U.S.C. 1132] or to
    exercise the authority set forth under Title III of ERISA,
    including the ability to make interpretations necessary to engage
    in such enforcement or to exercise such authority. However, in
    bringing such actions and in exercising such authority with respect
    to Parts 2 [29 U.S.C. 1051 et seq.] and 3 [29 U.S.C. 1081 et seq.]
    of Subtitle B of Title I of ERISA and any definitions for which the
    authority of the Secretary of Labor is transferred to the Secretary
    of the Treasury as provided in Section 101 of this Plan, the
    Secretary of Labor shall be bound by the regulations, rulings,
    opinions, variances, and waivers issued by the Secretary of the
    Treasury.

          SEC. 105. ENFORCEMENT BY THE SECRETARY OF THE TREASURY      
      The transfers provided for in Section 102 of this Plan shall not
    affect the ability of the Secretary of the Treasury, subject to the
    provisions of Title III of ERISA [29 U.S.C. 1201 et seq.] relating
    to jurisdiction, administration, and enforcement, (a) to audit
    plans and employers and to enforce the excise tax provisions of
    subsections 4975(a) and 4975(b) of the Code [26 U.S.C. 4975(a) and
    (b)], to exercise the authority set forth in subsections 502(b)(1)
    and 502(h) of ERISA [29 U.S.C. 1132(b)(1) and (h)], or to exercise
    the authority set forth in Title III of ERISA, including the
    ability to make interpretations necessary to audit, to enforce such
    taxes, and to exercise such authority; and (b) consistent with the
    coordination requirements under Section 103 of this Plan, to
    disqualify, under section 401 of the Code [26 U.S.C. 401], a plan
    subject to Part 4 of Subtitle B of Title I of ERISA [29 U.S.C. 1101
    et seq.], including the ability to make the interpretations
    necessary to make such disqualification. However, in enforcing such
    excise taxes and, to the extent applicable, in disqualifying such
    plans the Secretary of the Treasury shall be bound by the
    regulations, rulings, opinions, and exemptions issued by the
    Secretary of Labor pursuant to the authority transferred to the
    Secretary of Labor as provided in Section 102 of this Plan.

              SEC. 106. COORDINATION FOR SECTION 101 TRANSFER          
      (a) The Secretary of the Treasury shall not exercise the
    functions transferred pursuant to Section 101 of this Plan to issue
    in proposed or final form any of the documents described in
    subsection (b) of this Section in any case in which such documents
    would significantly impact on or substantially affect collectively
    bargained plans unless, within 100 calendar days after the
    Secretary of the Treasury notifies the Secretary of Labor of such
    proposed action, the Secretary of Labor certifies that he has no
    objection or he fails to respond to the Secretary of the Treasury.
    The fact of such a notification, except for such notification for
    documents described in subsection (b)(iv) of this Section, from the
    Secretary of the Treasury to the Secretary of Labor shall be
    announced by the Secretary of Labor to the public within ten days
    following the date of receipt of the notification by the Secretary
    of Labor.
      (b) The documents to which this Section applies are:
      (i) amendments to regulations issued pursuant to subsections
    202(a)(3), 203(b)(2) and (3)(A), 204(b)(3)(A), (C), and (E), and
    210(a)(2) of ERISA [29 U.S.C. 1052(a)(3), 1053(b)(2) and (3)(A),
    1054(b)(3)(A), (C), and (E), and 1060(a)(2)], and subsections
    410(a)(3) and 411(a)(5), (6)(A), and (b)(3)(A), (C), and (E),
    413(b)(4) and (c)(3) and 414(f) of the Code [26 U.S.C. 410(a)(3)
    and 411(a)(5), (6)(A), and (b)(3)(A), (C), and (E), 413 (b)(4) and
    (c)(3) and 414(f)];
      (ii) regulations issued pursuant to subsections 204(b)(3)(D),
    302(c)(8), and 304(a) and (b)(2)(A) of ERISA [29 U.S.C.
    1054(b)(3)(D), 1082(c)(8), and 1084(a) and (b)(2)(A)], and
    subsections 411(b)(3)(D), 412(c)(8), (e), and (f)(2)(A) of the Code
    [26 U.S.C. 411(b)(3)(D), 412(c)(8), (e), and (f)(2)(A)]; and
      (iii) revenue rulings (within the meaning of 26 CFR Section
    601.201(a)(6)), revenue procedures, and similar publications, if
    the rulings, procedures and publications are issued under one of
    the statutory provisions listed in (i) and (ii) of this subsection;
    and
      (iv) rulings (within the meaning of 26 CFR Section 601.201(a)(2))
    issued prior to the issuance of a published regulation under one of
    the statutory provisions listed in (i) and (ii) of this subsection
    and not issued under a published Revenue Ruling.
      (c) For those documents described in subsections (b)(i), (b)(ii)
    and (b)(iii) of this Section, the Secretary of Labor may request
    the Secretary of the Treasury to initiate the actions described in
    this Section 106 of this Plan.

                           SEC. 107. EVALUATION                       
      On or before January 31, 1980, the President will submit to both
    Houses of the Congress an evaluation of the extent to which this
    Reorganization Plan has alleviated the problems associated with the
    present administrative structure under ERISA, accompanied by
    specific legislative recommendations for a long-term administrative
    structure under ERISA.

                      SEC. 108. INCIDENTAL TRANSFERS                  
      So much of the personnel, property, records, and unexpended
    balances of appropriations, allocations and other funds employed,
    used, held, available, or to be made available in connection with
    the functions transferred under this Plan, as the Director of the
    Office of Management and Budget shall determine, shall be
    transferred to the appropriate agency, or component at such time or
    times as the Director of the Office of Management and Budget shall
    provide, except that no such unexpended balances transferred shall
    be used for purposes other than those for which the appropriation
    was originally made. The Director of the Office of Management and
    Budget shall provide for terminating the affairs of any agencies
    abolished herein and for such further measures and dispositions as
    such Director deems necessary to effectuate the purposes of this
    Reorganization Plan.

                         SEC. 109. EFFECTIVE DATE                     
      The provisions of this Reorganization Plan shall become effective
    at such time or times, on or before April 30, 1979, as the
    President shall specify, but not sooner than the earliest time
    allowable under Section 906 of Title 5, United States Code.

                         MESSAGE OF THE PRESIDENT                     
    To the Congress of the United States:
      Today I am submitting to the Congress my fourth Reorganization
    Plan for 1978. This proposal is designed to simplify and improve
    the unnecessarily complex administrative requirements of the
    Employee Retirement Income Security Act of 1974 (ERISA) [see Short
    Title note set out under this section]. The new plan will eliminate
    overlap and duplication in the administration of ERISA and help us
    achieve our goal of well regulated private pension plans.
      ERISA was an essential step in the protection of worker pension
    rights. Its administrative provisions, however, have resulted in
    bureaucratic confusion and have been justifiably criticized by
    employers and unions alike. The biggest problem has been
    overlapping jurisdictional authority. Under current ERISA
    provisions, the Departments of Treasury and Labor both have
    authority to issue regulations and decisions.
      This dual jurisdiction has delayed a good many important rulings
    and, more importantly, produced bureaucratic runarounds and
    burdensome reporting requirements.
      The new plan will significantly reduce these problems. In
    addition, both Departments are trying to cut red tape and
    paperwork, to eliminate unnecessary reporting requirements, and to
    streamline forms wherever possible.
      Both Departments have already made considerable progress, and
    both will continue the effort to simplify their rules and their
    forms.
      The Reorganization Plan is the most significant result of their
    joint effort to modify and simplify ERISA. It will eliminate most
    of the jurisdictional overlap between Treasury and Labor by making
    the following changes:
      1) Treasury will have statutory authority for minimum standards.
    The new plan puts all responsibility for funding, participation,
    and vesting of benefit rights in the Department of Treasury. These
    standards are necessary to ensure that employee benefit plans are
    adequately funded and that all beneficiary rights are protected.
    Treasury is the most appropriate Department to administer these
    provisions; however, Labor will continue to have veto power over
    Treasury decisions that significantly affect collectively bargained
    plans.
      2) Labor will have statutory authority for fiduciary obligations.
    ERISA prohibits transactions in which self-interest or conflict of
    interest could occur, but allows certain exemptions from these
    prohibitions. Labor will be responsible for overseeing fiduciary
    conduct under these provisions.
      3) Both Departments will retain enforcement powers. The
    Reorganization Plan will continue Treasury's authority to audit
    plans and levy tax penalties for any deviation from standards. The
    plan will also continue Labor's authority to bring civil action
    against plans and fiduciaries. These provisions are retained in
    order to keep the special expertise of each Department available.
    New coordination between the Departments will eliminate duplicative
    investigations of alleged violations.
      This reorganization will make an immediate improvement in ERISA's
    administration. It will eliminate almost all of the dual and
    overlapping authority in the two departments and dramatically cut
    the time required to process applications for exemptions from
    prohibited transactions.
      This plan is an interim arrangement. After the Departments have
    had a chance to administer ERISA under this new plan, the Office of
    Management and Budget and the Departments will jointly evaluate
    that experience. Based on that evaluation, early in 1980, the
    Administration will make appropriate legislative proposals to
    establish a long-term administrative structure for ERISA.
      Each provision in this reorganization will accomplish one or more
    of the purposes in Title 5 of U.S.C. 901(a). There will be no
    change in expenditure or personnel levels, although a small number
    of people will be transferred from the Department of Treasury to
    the Department of Labor.
      We all recognize that the administration of ERISA has been unduly
    burdensome. I am confident that this reorganization will
    significantly relieve much of that burden.
      This plan is the culmination of our effort to streamline ERISA.
    It provides an administrative arrangement that will work.
      ERISA has been a symbol of unnecessarily complex government
    regulation. I hope this new step will become equally symbolic of my
    Administration's commitment to making government more effective and
    less intrusive in the lives of our people.
                                                           Jimmy Carter.
      The White House, August 10, 1978.


-EXEC-
                         EXECUTIVE ORDER NO. 12071                     
      Ex. Ord. No. 12071, July 12, 1978, 43 F.R. 30259, which
    established the President's Commission on Pension Policy and
    provided for its membership, functions, etc., was revoked by Ex.
    Ord. No. 12379, Sec. 1, Aug. 17, 1982, 47 F.R. 36099, set out as a
    note under section 14 of the Federal Advisory Committee Act in the
    Appendix to Title 5, Government Organization and Employees.

           EX. ORD. NO. 12108. EFFECTIVE DATE OF ERISA TRANSFERS