ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

29 U.S.C. § 1347 — Restoration of plans

submitted 52 years ago by Pub. L. 93-406 to r/title-29-LABOR · 201 words · no verdicts yet

in plain englishAI-generated · not legal advice

The corporation may stop terminating a plan and restore it if it decides termination should not proceed. It may also restore a plan already terminated and transfer remaining assets and liabilities to the employer or plan administrator.

If the corporation decides that a plan scheduled for termination, or currently being terminated, should not be terminated because of circumstances it considers relevant, it may stop the termination activities and take necessary actions within its power to restore the plan to its previous status. If the plan has already been terminated, the corporation may, when appropriate and consistent with its duties under this subchapter, take necessary steps to restore the plan to its pretermination status. Those steps may include transferring control of some or all remaining plan assets and liabilities to the employer or plan administrator.

the actual law source: uscode.house.gov ↗public domain

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.

Source credit: (Pub. L. 93–406, title IV, § 4047, Sept. 2, 1974, 88 Stat. 1028; Pub. L. 99–272, title XI, § 11016(a)(3), Apr. 7, 1986, 100 Stat. 268; Pub. L. 101–239, title VII, § 7893(g)(1), Dec. 19, 1989, 103 Stat. 2447.)

history & why it existsrecord from the source credit
  • 1974Enacted · Pub. L. 93-406 · 88 Stat. 1028
  • 1986Amended · Pub. L. 99-272 · 100 Stat. 268
  • 1989Amended · Pub. L. 101-239 · 103 Stat. 2447

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-406 on 1974-09-02.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case