Title 29 — Labor
Chapter 18 — Employee Retirement Income Security Program
§ 1310. Authority to require certain information
Statutory text
Information required
Each person described in subsection (b) shall provide the corporation annually, on or before a date specified by the corporation in regulations, with—
such records, documents, or other information that the corporation specifies in regulations as necessary to determine the liabilities and assets of plans covered by this subchapter; and
copies of such person’s audited (or, if unavailable, unaudited) financial statements, and such other financial information as the corporation may prescribe in regulations.
Persons required to provide information
The persons covered by subsection (a) are each contributing sponsor, and each member of a contributing sponsor’s controlled group, of a single-employer plan covered by this subchapter, if—
the funding target attainment percentage (as defined in subsection (d)) at the end of the preceding plan year of a plan maintained by the contributing sponsor or any member of its controlled group is less than 80 percent;
the conditions for imposition of a lien described in section 1083(k)(1)(A) and (B) or 1085a(g)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) or 433(g)(1)(A) and (B) of title 26 have been met with respect to any plan maintained by the contributing sponsor or any member of its controlled group; or
minimum funding waivers in excess of $1,000,000 have been granted with respect to any plan maintained by the contributing sponsor or any member of its controlled group, and any portion thereof is still outstanding.
Information exempt from disclosure requirements
Any information or documentary material submitted to the corporation pursuant to this section shall be exempt from disclosure under section 552 of title 5, and no such information or documentary material may be made public, except as may be relevant to any administrative or judicial action or proceeding. Nothing in this section is intended to prevent disclosure to either body of Congress or to any duly authorized committee or subcommittee of the Congress.
Additional information required
In general
The information submitted to the corporation under subsection (a) shall include—
the amount of benefit liabilities under the plan determined using the assumptions used by the corporation in determining liabilities;
the funding target of the plan determined as if the plan has been in at-risk status for at least 5 plan years; and
the funding target attainment percentage of the plan.
Definitions
For purposes of this subsection:
Funding target
The term “funding target” has the meaning provided under section 1083(d)(1) of this title.
Funding target attainment percentage
The term “funding target attainment percentage” has the meaning provided under section 1083(d)(2) of this title.
At-risk status
The term “at-risk status” has the meaning provided in section 1083(i)(4) of this title.
Pension stabilization disregarded
For purposes of this section, the segment rates used in determining the funding target and funding target attainment percentage shall be determined by not taking into account any adjustment under section 1083(h)(2)(C)(iv) 1 of this title.
Notice to Congress
The corporation shall, on an annual basis, submit to the Committee on Health, Education, Labor, and Pensions and the Committee on Finance of the Senate and the Committee on Education and the Workforce and the Committee on Ways and Means of the House of Representatives, a summary report in the aggregate of the information submitted to the corporation under this section.
Footnotes
- 1 See References in Text note below.
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.
Employee Retirement Income Security Act of 1974
Pub. L. 93–406 title IV § 4010 · 88 Stat. 829
Enacted · 29 U.S.C. § 1310
Pub. L. 93–406, title IV, § 4010, as added Pub. L. 103–465, title VII, § 772(a), Dec. 8, 1994, 108 Stat. 5044
Source evidence
Code source credit
Pub. L. 93–406, title IV, § 4010, as added Pub. L. 103–465, title VII, § 772(a), Dec. 8, 1994, 108 Stat. 5044Pub. L. 109–280 § 505(a) · 120 Stat. 780
Added · 29 U.S.C. § 1310(b)(1)
Pub. L. 109–280, § 505(a), added par. (1)
Struck · 29 U.S.C. § 1310(b)(1)
Pub. L. 109–280, § 505(a), struck out former par. (1) which read as follows: “the aggregate unfunded vested benefits at the end of the preceding plan year (as determined under section 1306(a)(3)(E)(iii) of this title) of plans maintained by the contributing sponsor and the members of its controlled group exceed $50,000,000 (disregarding plans with no unfunded vested benefits);”
Source evidence
Code amendment note
Subsec. (b)(1). Pub. L. 109–280, § 505(a), added par. (1) and struck out former par. (1) which read as follows: “the aggregate unfunded vested benefits at the end of the preceding plan year (as determined under section 1306(a)(3)(E)(iii) of this title) of plans maintained by the contributing sponsor and the members of its controlled group exceed $50,000,000 (disregarding plans with no unfunded vested benefits);”.Enacted provision · exact public law section
(a) Change in Criteria for Persons Required To Provide Information to PBGC.— Section 4010(b) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1310(b)) is amended by striking paragraph (1) and inserting the following: “(1) the funding target attainment percentage (as defined in subsection (d)) at the end of the preceding plan year of a plan maintained by the contributing sponsor or any member of its controlled group is less than 80 percent;” .Pub. L. 109–280 § 108(b)(3) · 120 Stat. 780
Substituted · 29 U.S.C. § 1310(b)(2)
Pub. L. 109–280, § 108(b)(3), formerly § 107(b)(3), as renumbered by Pub. L. 111–192, substituted “1083(k)(1)(A) and (B)” for “1082(f)(1)(A) and (B)”
Substituted · 29 U.S.C. § 1310(b)(2)
Pub. L. 109–280, § 108(b)(3), formerly § 107(b)(3), as renumbered by Pub. L. 111–192, substituted “430(k)(1)(A) and (B)” for “412(n)(1)(A) and (B)”
Target inherited from the preceding amendment note.
Source evidence
Code amendment note
Subsec. (b)(2). Pub. L. 109–280, § 108(b)(3), formerly § 107(b)(3), as renumbered by Pub. L. 111–192, substituted “1083(k)(1)(A) and (B)” for “1082(f)(1)(A) and (B)” and “430(k)(1)(A) and (B)” for “412(n)(1)(A) and (B)”.Enacted provision · exact public law section
(3) in section 4010(b)(2) (29 U.S.C. 1310(b)(2)), by striking “302(f)(1)(A) and (B)” and inserting “303(k)(1)(A) and (B)”, and by striking “412(n)(1)(A) and (B)” and inserting “430(k)(1)(A) and (B)”;Pub. L. 109–280 § 505(b) · 120 Stat. 780
Added · 29 U.S.C. § 1310(d); 29 U.S.C. § 1310(e)
Pub. L. 109–280, § 505(b), added subsecs. (d) and (e)
Source evidence
Code amendment note
Subsecs. (d), (e). Pub. L. 109–280, § 505(b), added subsecs. (d) and (e).Enacted provision · exact public law section
(b) Additional Information Required.— Section 4010 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1310) is amended by adding at the end the following new subsection: “(d) Additional Information Required.— “(1) In general.— The information submitted to the corporation under subsection (a) shall include— “(A) the amount of benefit liabilities under the plan determined using the assumptions used by the corporation in determining liabilities; “(B) the funding target of the plan determined as if the plan has been in at-risk status for at least 5 plan years; and “(C) the funding target attainment percentage of the plan. “(2) Definitions.— For purposes of this subsection: “(A) Funding target.— The term ‘funding target’ has the meaning provided under section 303(d)(1). “(B) Funding target attainment percentage.— The term ‘funding target attainment percentage’ has the meaning provided under section 302(d)(2). “(C) At-risk status.— The term ‘at-risk status’ has the meaning provided in section 303(i)(4). “(e) Notice to Congress.— The corporation shall, on an annual basis, submit to the Committee on Health, Education, Labor, and Pensions and the Committee on Finance of the Senate and the Committee on Education and the Workforce and the Committee on Ways and Means of the House of Representatives, a summary report in the aggregate of the information submitted to the corporation under this section.” .Worker, Retiree, and Employer Recovery Act of 2008
Pub. L. 110–458 title I § 105(d) · 122 Stat. 5092
Substituted · 29 U.S.C. § 1310(d)(2)(B)
Pub. L. 110–458 substituted “section 1083(d)(2)” for “section 1082(d)(2)”
Source evidence
Code amendment note
Subsec. (d)(2)(B). Pub. L. 110–458 substituted “section 1083(d)(2)” for “section 1082(d)(2)”.Enacted provision · exact public law section
(d) Amendment Related to Section 505.— Section 4010(d)(2)(B) of ERISA 29 USC 1310. is amended by striking “section 302(d)(2)” and inserting “section 303(d)(2)”.Highway Investment, Job Creation, and Economic Growth Act of 2012
Pub. L. 112–141 div. D title II § 40211(b)(3)(D) · 126 Stat. 405
Added · 29 U.S.C. § 1310(d)(3)
Pub. L. 112–141 added par. (3)
Source evidence
Code amendment note
Subsec. (d)(3). Pub. L. 112–141 added par. (3).Enacted provision · exact public law section
(D) Section 4010(d) of such Act (29 U.S.C. 1310(d)) is amended by adding at the end the following: “(3) Pension stabilization disregarded.— For purposes of this section, the segment rates used in determining the funding target and funding target attainment percentage shall be determined by not taking into account any adjustment under section 302(h)((2)(C)(iv).” .Cooperative and Small Employer Charity Pension Flexibility Act
Pub. L. 113–97 title I § 102(b)(8) · 128 Stat. 1101
Substituted · 29 U.S.C. § 1310(b)(2)
Pub. L. 113–97 substituted “section 1083(k)(1)(A) and (B) or 1085a(g)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) or 433(g)(1)(A) and (B) of title 26” for “section 1083(k)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) of title 26”
Source evidence
Code amendment note
Subsec. (b)(2). Pub. L. 113–97 substituted “section 1083(k)(1)(A) and (B) or 1085a(g)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) or 433(g)(1)(A) and (B) of title 26” for “section 1083(k)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) of title 26”.Enacted provision · exact public law section
(8) Section 4010.— Paragraph (2) of section 4010(b) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1310(b)) is amended by striking “303(k)(1)(A) and (B) of this Act or section 430(k)(1)(A) and (B) of the Internal Revenue Code of 1986” and inserting “303(k)(1)(A) and (B) or 306(g)(1)(A) and (B) of this Act or section 430(k)(1)(A) and (B) or 433(g)(1)(A) and (B) of the Internal Revenue Code of 1986”.Effective date note
Amendment by Pub. L. 113–97 applicable to years beginning after Dec. 31, 2013, see section 3 of Pub. L. 113–97, set out as a note under section 401 of Title 26, Internal Revenue Code.
8 of 9 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
Section 1083(h)(2)(C)(iv) of this title, referred to in subsec. (d)(3), was in the original “section 302(h)((2)(C)(iv)” (sic) and was translated as if it had read “section 303(h)(2)(C)(iv)” to reflect the probable intent of Congress.
Amendments2006–2014 · 4 rounds
2014
Subsec. (b)(2). Pub. L. 113–97 substituted “section 1083(k)(1)(A) and (B) or 1085a(g)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) or 433(g)(1)(A) and (B) of title 26” for “section 1083(k)(1)(A) and (B) of this title or section 430(k)(1)(A) and (B) of title 26”.
2012
Subsec. (d)(3). Pub. L. 112–141 added par. (3).
2008
Subsec. (d)(2)(B). Pub. L. 110–458 substituted “section 1083(d)(2)” for “section 1082(d)(2)”.
2006
Subsec. (b)(1). Pub. L. 109–280, § 505(a), added par. (1) and struck out former par. (1) which read as follows: “the aggregate unfunded vested benefits at the end of the preceding plan year (as determined under section 1306(a)(3)(E)(iii) of this title) of plans maintained by the contributing sponsor and the members of its controlled group exceed $50,000,000 (disregarding plans with no unfunded vested benefits);”.
Subsec. (b)(2). Pub. L. 109–280, § 108(b)(3), formerly § 107(b)(3), as renumbered by Pub. L. 111–192, substituted “1083(k)(1)(A) and (B)” for “1082(f)(1)(A) and (B)” and “430(k)(1)(A) and (B)” for “412(n)(1)(A) and (B)”.
Subsecs. (d), (e). Pub. L. 109–280, § 505(b), added subsecs. (d) and (e).
Statutory Notes and Related Subsidiaries
Effective Date of 2014 Amendment
Amendment by Pub. L. 113–97 applicable to years beginning after , see section 3 of Pub. L. 113–97, set out as a note under section 401 of Title 26, Internal Revenue Code.
Effective Date of 2012 Amendment
Amendment by Pub. L. 112–141 applicable with respect to plan years beginning after , except as otherwise provided, see section 40211(c) of Pub. L. 112–141, set out as a note under section 404 of Title 26, Internal Revenue Code.
Effective Date of 2008 Amendment
Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amendment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code.
Effective Date of 2006 Amendment
Amendment by section 108(b)(3) of Pub. L. 109–280 applicable to plan years beginning after 2007, see section 108(e) of Pub. L. 109–280, set out as a note under section 1021 of this title.
Pub. L. 109–280, title V, § 505(c), , 120 Stat. 946, provided that: “The amendments made by this section [amending this section] shall apply with respect to years beginning after 2007.”
Effective Date
Pub. L. 103–465, title VII, § 772(c), , 108 Stat. 5044, provided that: “The amendments made by this section [enacting this section] shall be effective on the date of enactment of this Act [].”
Applicability of Amendments by Subtitles A and B of Title I of Pub. L. 109–280
For special rules on applicability of amendments by subtitles A (§§ 101–108) and B (§§ 111–116) of title I of Pub. L. 109–280 to certain eligible cooperative plans, PBGC settlement plans, and eligible government contractor plans, see sections 104, 105, and 106 of Pub. L. 109–280, set out as notes under section 401 of Title 26, Internal Revenue Code.
Credits
1994–2014 · 5 acts
- 1994Pub. L. 93–406, title IV, § 4010, as added Pub. L. 103–465, title VII, § 772(a), , 108 Stat. 5044
- 2006amended Pub. L. 109–280, title I, § 108(b)(3), formerly § 107(b)(3), title V, § 505(a), (b), , 120 Stat. 819, 946, renumbered Pub. L. 111–192, title II, § 202(a), , 124 Stat. 1297
- 2008Pub. L. 110–458, title I, § 105(d), , 122 Stat. 5105
- 2012Pub. L. 112–141, div. D, title II, § 40211(b)(3)(D), , 126 Stat. 849
- 2014Pub. L. 113–97, title I, § 102(b)(8), , 128 Stat. 1117.
Show as published
(Pub. L. 93–406, title IV, § 4010, as added Pub. L. 103–465, title VII, § 772(a), , 108 Stat. 5044; amended Pub. L. 109–280, title I, § 108(b)(3), formerly § 107(b)(3), title V, § 505(a), (b), , 120 Stat. 819, 946, renumbered Pub. L. 111–192, title II, § 202(a), , 124 Stat. 1297; Pub. L. 110–458, title I, § 105(d), , 122 Stat. 5105; Pub. L. 112–141, div. D, title II, § 40211(b)(3)(D), , 126 Stat. 849; Pub. L. 113–97, title I, § 102(b)(8), , 128 Stat. 1117.)