Within one year after September 26, 1980, a multiemployer plan may irrevocably elect, pursuant to procedures established by the corporation, that the plan shall not be treated as a multiemployer plan for any purpose under this chapter or the Internal Revenue Code of 1954, if for each of the last 3 plan years ending prior to the effective date of the Multiemployer Pension Plan Amendments Act of 1980—
(1)the plan was not a multiemployer plan because the plan was not a plan described in section
1002(37)(A)(iii) of this title and section
414(f)(1)(C) of title
26 (as such provisions were in effect on the day before September 26, 1980); and
(2)the plan had been identified as a plan that was not a multiemployer plan in substantially all its filings with the corporation, the Secretary of Labor and the Secretary of the Treasury.
An election described in subsection (a) of this section shall be effective only if—
(1)the plan is amended to provide that it shall not be treated as a multiemployer plan for all purposes under this chapter and the Internal Revenue Code of 1954, and
(2)written notice of the amendment is provided to the corporation within 60 days after the amendment is adopted.
(c) Effective date
An election described in subsection (a) of this section shall be treated as being effective as of September 26, 1980.
This chapter, referred to in subsecs. (a) and (b)(1), was in the original “this Act”, meaning Pub. L. 93–406, known as the Employee Retirement Income Security Act of 1974. Titles I, III, and IV of such Act are classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section
1001 of this title and Tables.
The Internal Revenue Code of 1954, referred to in subsecs. (a) and (b)(1), was redesignated the Internal Revenue Code of 1986 by Pub. L. 99–514, § 2,Oct. 22, 1986, 100 Stat. 2095, and is classified to Title 26, Internal Revenue Code.
For the effective date of the Multiemployer Pension Plan Amendments Act of 1980, referred to in subsec. (a), see section
1461(e) of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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