Title 29 — Labor
Part 1 · Chapter 18 — Employee Retirement Income Security Program
§ 1393. Actuarial assumptions
Statutory text
Use by plan actuary in determining unfunded vested benefits of a plan for computing withdrawal liability of employer
The corporation may prescribe by regulation actuarial assumptions which may be used by a plan actuary in determining the unfunded vested benefits of a plan for purposes of determining an employer’s withdrawal liability under this part. Withdrawal liability under this part shall be determined by each plan on the basis of—
actuarial assumptions and methods which, in the aggregate, are reasonable (taking into account the experience of the plan and reasonable expectations) and which, in combination, offer the actuary’s best estimate of anticipated experience under the plan, or
actuarial assumptions and methods set forth in the corporation’s regulations for purposes of determining an employer’s withdrawal liability.
Factors determinative of unfunded vested benefits of plan for computing withdrawal liability of employer
In determining the unfunded vested benefits of a plan for purposes of determining an employer’s withdrawal liability under this part, the plan actuary may—
rely on the most recent complete actuarial valuation used for purposes of section 412 of title 26 and reasonable estimates for the interim years of the unfunded vested benefits, and
in the absence of complete data, rely on the data available or on data secured by a sampling which can reasonably be expected to be representative of the status of the entire plan.
Determination of amount of unfunded vested benefits
For purposes of this part, the term “unfunded vested benefits” means with respect to a plan, an amount equal to—
the value of nonforfeitable benefits under the plan, less
the value of the assets 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 § 4213 · 88 Stat. 829
Enacted · 29 U.S.C. § 1393
Pub. L. 93–406, title IV, § 4213, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1233
Source evidence
Code source credit
Pub. L. 93–406, title IV, § 4213, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1233Revenue Reconciliation Act of 1989
Pub. L. 101–239 title VII § 7891(a)(1) · 103 Stat. 2106
Substituted · 29 U.S.C. § 1393(b)(1)
Pub. L. 101–239 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text
Source evidence
Code amendment note
Subsec. (b)(1). Pub. L. 101–239 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.Enacted provision · exact public law section
(1) Titles I, III, and IV of ERISA (other than sections 3(37)(E), 29 USC 1001 et seq. 301(a)(7), and 308, the last sentence of section 408(d), and sections 414(c), 4001(a)(3)(ii), and 4303) are each amended by striking “Internal Revenue Code of 1954” each place it appears and inserting “Internal Revenue Code of 1986”.Effective date note
Amendment by Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 7891(f) of Pub. L. 101–239, set out as a note under section 1002 of this title.
1 of 2 references resolved to an enrolled provision · 1 partial
Editorial Notes
Amendments
1989—Subsec. (b)(1). Pub. L. 101–239 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.
Statutory Notes and Related Subsidiaries
Effective Date of 1989 Amendment
Amendment by Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 7891(f) of Pub. L. 101–239, set out as a note under section 1002 of this title.
Credits
1980–1989 · 2 acts
- 1980Pub. L. 93–406, title IV, § 4213, as added Pub. L. 96–364, title I, § 104(2), , 94 Stat. 1233
- 1989amended Pub. L. 101–239, title VII, § 7891(a)(1), , 103 Stat. 2445.
Show as published
(Pub. L. 93–406, title IV, § 4213, as added Pub. L. 96–364, title I, § 104(2), , 94 Stat. 1233; amended Pub. L. 101–239, title VII, § 7891(a)(1), , 103 Stat. 2445.)