Title 29 — Labor
Chapter 18 — Employee Retirement Income Security Program
§ 1347. Restoration of plans
Statutory text
Whenever the corporation determines that a plan which is to be terminated under section 1341 or 1342 of this title, or which is in the process of being terminated under section 1341 or 1342 of this title, should not be terminated under section 1341 or 1342 of this title as a result of such circumstances as the corporation determines to be relevant, the corporation is authorized to cease any activities undertaken to terminate the plan, and to take whatever action is necessary and within its power to restore the plan to its status prior to the determination that the plan was to be terminated under section 1341 or 1342 of this title. In the case of a plan which has been terminated under section 1341 or 1342 of this title the corporation is authorized in any such case in which the corporation determines such action to be appropriate and consistent with its duties under this subchapter, to take such action as may be necessary to restore the plan to its pretermination status, including, but not limited to, the transfer to the employer or a plan administrator of control of part or all of the remaining assets and liabilities of the plan.
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 § 4047 · 88 Stat. 829
Enacted · 29 U.S.C. § 1347
Pub. L. 93–406, title IV, § 4047, Sept. 2, 1974, 88 Stat. 1028
Source evidence
Code source credit
Pub. L. 93–406, title IV, § 4047, Sept. 2, 1974, 88 Stat. 1028Enacted provision · exact public law section
Sec. 4047. restoration of plans Whenever the corporation determines that a plan which 29 USC 1347. is to be terminated, or which is in the process of being terminated, under this subtitle should not be terminated as a result of such circumstances as the corporation determines to be relevant, the corporation is authorized to cease any activities undertaken to terminate the plan, and to take whatever action is necessary and within its power to restore the plan to its status prior to the determination that the plan was to be terminated. In the case of a plan which has been terminated under section 4042 the corporation is authorized in any such case in which the corporation determines such action to be appropriate and consistent with its duties under this title, to take such action as may be necessary to restore the plan to its pretermination status, including, but not limited to, the transfer to the employer or a plan administrator of control of part or all of the remaining assets and liabilities of the plan.Single-Employer Pension Plan Amendments Act of 1986
Pub. L. 99–272 title XI § 11016(a)(3) · 100 Stat. 82
Inserted · 29 U.S.C. § 1347
Pub. L. 99–272 inserted “under section 1341 or 1342 of this title” after “terminated” in four places
Substituted · 29 U.S.C. § 1347
Pub. L. 99–272 substituted “section 1341 or 1342 of this title the corporation” for “section 1342 of this title the corporation”
Source evidence
Code amendment note
Pub. L. 99–272 inserted “under section 1341 or 1342 of this title” after “terminated” in four places and substituted “section 1341 or 1342 of this title the corporation” for “section 1342 of this title the corporation”.Enacted provision · exact public law section
(3) Restoration of plans.— Section 4047 (29 U.S.C. 1347) is amended— (A) in the first sentence, by inserting “under section 4041 or 4042” after “terminated” each place it appears; and (B) in the second sentence, by striking out “section 4042” and inserting in lieu thereof “section 4041 or 4042”.Effective date note
Amendment by Pub. L. 101–239 effective as if included in the provision of the Single-Employer Pension Plan Amendments Act of 1986, Pub. L. 99–272, title XI, to which such amendment relates, see section 7893(h) of Pub. L. 101–239, set out as a note under section 1002 of this title.Revenue Reconciliation Act of 1989
Pub. L. 101–239 title VII § 7893(g)(1) · 103 Stat. 2106
Struck · 29 U.S.C. § 1347
Pub. L. 101–239 struck out “under this subtitle” before “should not be terminated”
Source evidence
Code amendment note
Pub. L. 101–239 struck out “under this subtitle” before “should not be terminated”.Enacted provision · exact public law section
(1) Section 4047 of ERISA is amended, in the first sentence, by 29 USC 1347. striking “under this subtitle”.Effective date note
Amendment by Pub. L. 101–239 effective as if included in the provision of the Single-Employer Pension Plan Amendments Act of 1986, Pub. L. 99–272, title XI, to which such amendment relates, see section 7893(h) of Pub. L. 101–239, set out as a note under section 1002 of this title.
4 of 4 references resolved to an enrolled provision
Editorial Notes
Amendments1986–1989 · 2 rounds
1989
Pub. L. 101–239 struck out “under this subtitle” before “should not be terminated”.
1986
Pub. L. 99–272 inserted “under section 1341 or 1342 of this title” after “terminated” in four places and substituted “section 1341 or 1342 of this title the corporation” for “section 1342 of this title the corporation”.
Statutory Notes and Related Subsidiaries
Effective Date of 1989 Amendment
Amendment by Pub. L. 101–239 effective as if included in the provision of the Single-Employer Pension Plan Amendments Act of 1986, Pub. L. 99–272, title XI, to which such amendment relates, see section 7893(h) of Pub. L. 101–239, set out as a note under section 1002 of this title.
Effective Date of 1986 Amendment
Amendment by Pub. L. 99–272 effective , with certain exceptions, see section 11019 of Pub. L. 99–272, set out as a note under section 1341 of this title.