29 U.S. Code § 1390 - Nonapplicability of withdrawal liability for certain temporary contribution obligation periods; exception
(a) An employer who withdraws from a plan in complete or partial withdrawal is not liable to the plan if the employer—
(2) had an obligation to contribute to the plan for no more than the lesser of—
(3) was required to make contributions to the plan for each such plan year in an amount equal to less than 2 percent of the sum of all employer contributions made to the plan for each such year, and
(b) Subsection (a) of this section shall apply to an employer with respect to a plan only if—
(2) the plan provides, or is amended to provide, that the reduction under section 411 (a)(3)(E) of title 26 applies with respect to the employees of the employer; and
Source(Pub. L. 93–406, title IV, § 4210, as added Pub. L. 96–364, title I, § 104(2),Sept. 26, 1980, 94 Stat. 1226; amended Pub. L. 101–239, title VII, § 7891(a)(1),Dec. 19, 1989, 103 Stat. 2445; Pub. L. 109–280, title II, § 204(c)(1),Aug. 17, 2006, 120 Stat. 887.)
2006—Subsec. (b)(1) to (4). Pub. L. 109–280redesignated pars. (2) to (4) as (1) to (3), respectively, and struck out former par. (1) which read as follows: “the plan is not a plan which primarily covers employees in the building and construction industry;”.
1989—Subsec. (b)(3). Pub. L. 101–239substituted “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.
Effective Date of 2006 Amendment
Pub. L. 109–280, title II, § 204(c)(3),Aug. 17, 2006, 120 Stat. 887, provided that: “The amendments made by this subsection [amending this section and section 1391 of this title] shall apply with respect to plan withdrawals occurring on or after January 1, 2007.”
Effective Date of 1989 Amendment
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