Application of part in case of certain pre-1980 withdrawals; adjustment of covered plan
(a) For the purpose of determining the amount of unfunded vested benefits allocable to an employer for a partial or complete withdrawal from a plan which occurs after September 25, 1980, and for the purpose of determining whether there has been a partial withdrawal after such date, the amount of contributions, and the number of contribution base units, of such employer properly allocable—
to work performed under a collective bargaining agreement for which there was a permanent cessation of the obligation to contribute before September 26, 1980, or
to work performed at a facility at which all covered operations permanently ceased before September 26, 1980, or for which there was a permanent cessation of the obligation to contribute before that date,
shall not be taken into account.
A plan may, in a manner not inconsistent with regulations, which shall be prescribed by the corporation, adjust the amount of unfunded vested benefits allocable to other employers under a plan maintained by an employer described in subsection (a).
(Pub. L. 93–406, title IV
, § 4217, as added Pub. L. 96–364, title I
, § 104(2), Sept. 26, 1980
, 94 Stat. 1235
; amended Pub. L. 98–369, div. A, title V
, § 558(b)(1)(A), (B), July 18, 1984
, 98 Stat. 899
1984—Subsec. (a). Pub. L. 98–369, § 558(b)(1)(A), (B), substituted “September 25, 1980” for “April 28, 1980” in provisions preceding par. (1) and “September 26, 1980” for “April 29, 1980” in pars. (1) and (2).
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