§ 1058. Mergers and consolidations of plans or transfers of plan assets

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 title I § 208 · 88 Stat. 829

   Enacted · 29 U.S.C. § 1058

   Pub. L. 93–406, title I, § 208, Sept. 2, 1974, 88 Stat. 865

   Source evidence

   Code source credit
   Pub. L. 93–406, title I, § 208, Sept. 2, 1974, 88 Stat. 865

   Enacted provision · exact public law section
   Sec. 208. Mergers and Consolidations of Plans or Transfers of Plan Assets A pension plan may not merge or consolidate with, or 29 USC 1058. transfer its assets or liabilities to, any other plan after the date of the enactment of this Act, unless each participant in the plan would (if the plan then terminated) receive a benefit immediately after the merger, consolidation, or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger, consolidation, or transfer (if the plan had then terminated). This paragraph shall apply in the case of a multiemployer plan only to the extent determined by the Pension Benefit Guaranty Corporation.

2. 1980

   Multiemployer Pension Plan Amendments Act of 1980

   Pub. L. 96–364 title IV § 402(b)(1) · 94 Stat. 1208

   Substituted · 29 U.S.C. § 1058

   Pub. L. 96–364 substituted provisions respecting applicability of preceding sentence to transactions under a covered multiemployer plan to which subchapter III applies, for provisions relating to applicability of paragraph to a multiemployer plan only to extent determined by Corporation

   Source evidence

   Code amendment note
   Pub. L. 96–364 substituted provisions respecting applicability of preceding sentence to transactions under a covered multiemployer plan to which subchapter III applies, for provisions relating to applicability of paragraph to a multiemployer plan only to extent determined by Corporation.

   Enacted provision · exact public law section
   (1) Section 208 is amended by striking out the last sentence and 29 USC 1058. inserting in lieu thereof the following: “The preceding sentence shall not apply to any transaction to the extent that participants either before or after the transaction are covered under a multiemployer plan to which title IV of this Act applies.”. 29 USC 1301.

   Effective date note
   Amendment by Pub. L. 96–364 effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title.

2 of 2 references resolved to an enrolled provision