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U.S.C.
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§1362. Liability for termination of single-employer plans under a distress termination or a termination by corporation — Inbound Citations

29 U.S.C. § 1362

Cited by 30 provisions in release 119-102.

Citations to 29 U.S.C. § 1362 as a whole

  • 29 U.S.C. § 1322(c)(3)(A)(i)
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    (i) the sum of the values of all recoveries under section 1362, 1363, or 1364 of this title, determined by the corporation in connection with plan terminations described under subparagraph (B), bears to
  • 29 U.S.C. § 1322(c)(3)(B)(i)
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    (i) the corporation has determined the value of recoveries under section 1362, 1363, or 1364 of this title, and
  • 29 U.S.C. § 1322(c)(3)(C)(i)
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    (i) the value of the recoveries of the corporation under section 1362, 1363, or 1364 of this title in connection with such plan, to
  • 29 U.S.C. § 1341(c)(2)(A)(ii)
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    (ii) unless the corporation determines the information is not necessary for purposes of paragraph (3)(A) or section 1362 of this title, certification by an enrolled actuary of—
    (I) the amount (as of the proposed termination date and, if applicable, the proposed distribution date) of the current value of the assets of the plan,
    (II) the actuarial present value (as of such dates) of the benefit liabilities under the plan,
    (III) whether the plan is sufficient for benefit liabilities as of such dates,
    (IV) the actuarial present value (as of such dates) of benefits under the plan guaranteed under section 1322 of this title, and
    (V) whether the plan is sufficient for guaranteed benefits as of such dates;
  • 29 U.S.C. § 1342(d)(2)(C)
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    (C) each employer who may be subject to liability under section 1362, 1363, or 1364 of this title,
  • 29 U.S.C. § 1344(f)(3)(B)
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    (B) the amount of any liability under section 1362 of this title to the corporation or the trustee appointed under section 1342(b) or (c) of this title.
  • 29 U.S.C. § 1363(b)
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    (b) Except as provided in subsection (c), any one or more contributing sponsors who withdraw, during a plan year for which they constitute a substantial employer, from a single-employer plan which has two or more contributing sponsors at least two of whom are not under common control, shall, upon notification of such contributing sponsors by the corporation as provided by subsection (a), be liable, together with the members of their controlled groups, to the corporation in accordance with the provisions of section 1362 of this title and this section. The amount of liability shall be computed on the basis of an amount determined by the corporation to be the amount described in section 1362 of this title for the entire plan, as if the plan had been terminated by the corporation on the date of the withdrawal referred to in subsection (a)(1) multiplied by a fraction—
    (1) the numerator of which is the total amount required to be contributed to the plan by such contributing sponsors for the last 5 years ending prior to the withdrawal, and
    (2) the denominator of which is the total amount required to be contributed to the plan by all contributing sponsors for such last 5 years.
    In addition to and in lieu of the manner prescribed in the preceding sentence, the corporation may also determine such liability on any other equitable basis prescribed by the corporation in regulations. Any amount collected by the corporation under this subsection shall be held in escrow subject to disposition in accordance with the provisions of paragraphs (2) and (3) of subsection (c).
  • 29 U.S.C. § 1364(b)
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    (b) The corporation shall determine the liability with respect to each contributing sponsor and each member of its controlled group in a manner consistent with section 1362 of this title, except that the amount of liability determined under section 1362(b)(1) of this title with respect to the entire plan shall be allocated to each controlled group by multiplying such amount by a fraction—
    (1) the numerator of which is the amount required to be contributed to the plan for the last 5 plan years ending prior to the termination date by persons in such controlled group as contributing sponsors, and
    (2) the denominator of which is the total amount required to be contributed to the plan for such last 5 plan years by all persons as contributing sponsors,
    and section 1368(a) of this title shall be applied separately with respect to each controlled group. The corporation may also determine the liability of each such contributing sponsor and member of its controlled group on any other equitable basis prescribed by the corporation in regulations.
  • 29 U.S.C. § 1367
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    The corporation is authorized to make arrangements with contributing sponsors and members of their controlled groups who are or may become liable under section 1362, 1363, or 1364 of this title for payment of their liability, including arrangements for deferred payment of amounts of liability to the corporation accruing as of the termination date on such terms and for such periods as the corporation deems equitable and appropriate.
  • 29 U.S.C. § 1368(a)
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    (a) If any person liable to the corporation under section 1362, 1363, or 1364 of this title neglects or refuses to pay, after demand, the amount of such liability (including interest), there shall be a lien in favor of the corporation in the amount of such liability (including interest) upon all property and rights to property, whether real or personal, belonging to such person, except that such lien may not be in an amount in excess of 30 percent of the collective net worth of all persons described in section 1362(a) of this title1
  • 29 U.S.C. § 1368(b)
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    (b) The lien imposed by subsection (a) arises on the date of termination of a plan, and continues until the liability imposed under section 1362, 1363, or 1364 of this title is satisfied or becomes unenforceable by reason of lapse of time.
  • 29 U.S.C. § 1368(d)(1)
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    (1) In any case where there has been a refusal or neglect to pay the liability imposed under section 1362, 1363, or 1364 of this title, the corporation may bring civil action in a district court of the United States to enforce the lien of the corporation under this section with respect to such liability or to subject any property, of whatever nature, of the liable person, or in which he has any right, title, or interest to the payment of such liability.
  • 29 U.S.C. § 1368(d)(2)
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    (2) The liability imposed by section 1362, 1363, or 1364 of this title may be collected by a proceeding in court if the proceeding is commenced within 6 years after the date upon which the plan was terminated or prior to the expiration of any period for collection agreed upon in writing by the corporation and the liable person before the expiration of such 6-year period. The period of limitations provided under this paragraph shall be suspended for the period the assets of the liable person are in the control or custody of any court of the United States, or of any State, or of the District of Columbia, and for 6 months thereafter, and for any period during which the liable person is outside the United States if such period of absence is for a continuous period of at least 6 months.
  • 29 U.S.C. § 1368(e)
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    (e) If the corporation determines that release of the lien or subordination of the lien to any other creditor of the liable person would not adversely affect the collection of the liability imposed under section 1362, 1363, or 1364 of this title, or that the amount realizable by the corporation from the property to which the lien attaches will ultimately be increased by such release or subordination, and that the ultimate collection of the liability will be facilitated by such release or subordination, the corporation may issue a certificate of release or subordination of the lien with respect to such property, or any part thereof.
  • 29 U.S.C. § 1370(a)
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    (a) Any person who is with respect to a single-employer plan a fiduciary, contributing sponsor, member of a contributing sponsor’s controlled group, participant, or beneficiary, and is adversely affected by an act or practice of any party (other than the corporation) in violation of any provision of section 1341, 1342, 1362, 1363, 1364, or 1369 of this title, or who is an employee organization representing such a participant or beneficiary so adversely affected for purposes of collective bargaining with respect to such plan, may bring an action—
    (1) to enjoin such act or practice, or
    (2) to obtain other appropriate equitable relief (A) to redress such violation or (B) to enforce such provision.
  • 29 U.S.C. § 1412(c)(1)(A)
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    (A) the amount of the plan asset insufficiency of the terminated single-employer plan, less 30 percent of the net worth of the employer who maintained the single-employer plan, determined in accordance with section 1362 or 1364 of this title, or

Citations to §1362(a)

  • 29 U.S.C. § 1368(a)
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    (a) If any person liable to the corporation under section 1362, 1363, or 1364 of this title neglects or refuses to pay, after demand, the amount of such liability (including interest), there shall be a lien in favor of the corporation in the amount of such liability (including interest) upon all property and rights to property, whether real or personal, belonging to such person, except that such lien may not be in an amount in excess of 30 percent of the collective net worth of all persons described in section 1362(a) of this title1

Citations to §1362(b)(1)

Citations to §1362(c)

Citations to §1362(d)(1)

Citations to §1362(d)(2)