r/title-29-LABOR wiki — defined terms

“effective interest rate” applies in that section

the term “effective interest rate” means, with respect to any plan for any plan year, the single rate of interest which, if used to determine the present value of the plan’s accrued or earned benefits referred to in subsection (d)(1), would result in an amount equal to the funding target of the plan for such plan year.

“eligible newspaper plan sponsor” applies in that section

The term “eligible newspaper plan sponsor” means the plan sponsor of— (A) any community newspaper plan, or (B) any other plan sponsored, as of April 2, 2019 , by a member of the same controlled group of a plan sponsor of a community newspaper plan if such member is in the trade or business of publishing 1 or more newspapers. (3) Election An election under paragraph (1) shall be made at such time and in such manner as prescribed by the Secretary of the Treasury. Such election, once made with respect to a plan year, shall apply to all subsequent plan years unless revoked with the consent of the Secretary of the Treasury.

“eligible plan year” applies in that section

the term “eligible plan year” means any plan year beginning in 2008, 2009, 2010, or 2011, except that a plan year shall only be treated as an eligible plan year if the due date under subsection (j)(1) for the payment of the minimum required contribution for such plan year occurs on or after June 25, 2010 . (vi) Reporting A plan sponsor of a plan who makes an election under clause (i) shall— (I) give notice of the election to participants and beneficiaries of the plan, and (II) inform the Pension Benefit Guaranty Corporation of such election in such form and manner as the Director of the Pension Benefit Guaranty Corporation may prescribe.

“employee” applies in that section

The term “employee” includes, with respect to a calendar year, a self-employed individual who is treated as an employee under section 401(c) of such title for the taxable year ending during such calendar year, and

“excess employee compensation” applies in that section

The term “excess employee compensation” means, with respect to any employee for any plan year, the excess (if any) of— (I) the aggregate amount includible in income under chapter 1 of title 26 for remuneration during the calendar year in which such plan year begins for services performed by the employee for the plan sponsor (whether or not performed during such calendar year), over (II) $1,000,000.

“first segment rate” applies in that section

The term “first segment rate” means, with respect to any month, the single rate of interest which shall be determined by the Secretary of the Treasury for such month on the basis of the corporate bond yield curve for such month, taking into account only that portion of such yield curve which is based on bonds maturing during the 5-year period commencing with such month. (ii) Second segment rate

“installment acceleration amount” applies in that section

The term “installment acceleration amount” means, with respect to any plan year in a restriction period with respect to an election year, the sum of— (I) the aggregate amount of excess employee compensation determined under subparagraph (D) with respect to all employees for the plan year, plus (II) the aggregate amount of extraordinary dividends and redemptions determined under subparagraph (E) for the plan year.

“liquid assets” applies in that section

The term “liquid assets” means cash, marketable securities, and such other assets as specified by the Secretary of the Treasury in regulations. (vi) Quarter

“liquidity shortfall” applies in that section

The term “liquidity shortfall” means, with respect to any required installment, an amount equal to the excess (as of the last day of the quarter for which such installment is made) of— (I) the base amount with respect to such quarter, over (II) the value (as of such last day) of the plan’s liquid assets. (ii) Base amount (I) In general

“minimum required contribution” applies in that section

the term “minimum required contribution” means, with respect to any plan year of a single-employer plan— (1) in any case in which the value of plan assets of the plan (as reduced under subsection (f)(4)(B)) is less than the funding target of the plan for the plan year, the sum of— (A) the target normal cost of the plan for the plan year, (B) the shortfall amortization charge (if any) for the plan for the plan year determined under subsection (c), and (C) the waiver amortization charge (if any) for the plan for the plan year as determined under subsection (e); or (2) in any case in which the value of plan assets of the plan (as reduced under subsection (f)(4)(B)) equals or exceeds the …

“plan sponsor” applies in that section

The term “plan sponsor” includes any member of the plan sponsor’s controlled group (as defined in section 1082(d)(3) of this title ). (ii) Restriction period

“quarter” applies in that section

The term “quarter” means, with respect to any required installment, the 3-month period preceding the month in which the due date for such installment occurs. (F) Regulations The Secretary of the Treasury may prescribe such regulations as are necessary to carry out this paragraph.

“required annual payment” applies in that section

the term “required annual payment” means the lesser of— (I) 90 percent of the minimum required contribution (determined without regard to this subsection) to the plan for the plan year under this section, or (II) 100 percent of the minimum required contribution (determined without regard to this subsection or to any waiver under section 1082(c) of this title ) to the plan for the preceding plan year. Subclause (II) shall not apply if the preceding plan year referred to in such clause 4 was not a year of 12 months.

“required installment” applies in that section

The terms “due date” and “required installment” have the meanings given such terms by subsection (j). (C) Controlled group

“restriction period” applies in that section

The term “restriction period” means, with respect to any election year— (I) except as provided in subclause (II), the 3-year period beginning with the election year (or, if later, the first plan year beginning after December 31, 2009 ), and (II) if the plan sponsor elects 15-year amortization for the shortfall amortization base for the election year, the 5-year period beginning with the election year (or, if later, the first plan year beginning after December 31, 2009 ).

“second segment rate” applies in that section

The term “second segment rate” means, with respect to any month, the single rate of interest which shall be determined by the Secretary of the Treasury for such month on the basis of the corporate bond yield curve for such month, taking into account only that portion of such yield curve which is based on bonds maturing during the 15-year period beginning at the end of the period described in clause (i). (iii) Third segment rate

“specified automobile manufacturer” applies in that section

the term “specified automobile manufacturer” means— (I) any manufacturer of automobiles, and (II) any manufacturer of automobile parts which supplies such parts directly to a manufacturer of automobiles and which, after a transaction or series of transactions ending in 1999, ceased to be a member of a controlled group which included such manufacturer of automobiles.

“specified balance” applies in that section

the term “specified balance” means the prefunding balance or the funding standard carryover balance, as the case may be. (C) Availability of balances in plan year for crediting against minimum required contribution For purposes of paragraph (3)(C)(i) of this subsection, the value of plan assets is deemed to be such amount, reduced by the amount of the prefunding balance. (5) Election to reduce balance prior to determinations of value of plan assets and crediting against minimum required contribution (A) In general The plan sponsor may elect to reduce by any amount the balance of the prefunding balance and the funding standard carryover balance for any plan year (but not below zero).

“target normal cost” applies in that section

the term “target normal cost” means, for any plan year, the excess of— (A) the sum of— (i) the present value of all benefits which are expected to accrue or to be earned under the plan during the plan year, plus (ii) the amount of plan-related expenses expected to be paid from plan assets during the plan year, over (B) the amount of mandatory employee contributions expected to be made during the plan year.

“third segment rate” applies in that section

The term “third segment rate” means, with respect to any month, the single rate of interest which shall be determined by the Secretary of the Treasury for such month on the basis of the corporate bond yield curve for such month, taking into account only that portion of such yield curve which is based on bonds maturing during periods beginning after the period described in clause (ii).

“United States Treasury obligation yield curve” applies in that section

the term “United States Treasury obligation yield curve” means, with respect to any day, a yield curve which shall be prescribed by the Secretary of the Treasury for such day on interest-bearing obligations of the United States. (B) Shortfall amortization base (i) Previous shortfall amortization bases The shortfall amortization bases determined under subsection (c)(3) for all plan years preceding the first plan year to which the election under paragraph (1) applies (and all shortfall amortization installments determined with respect to such bases) shall be reduced to zero under rules similar to the rules of subsection (c)(6).

“current liability” applies in that section

The term “current liability” means all liabilities to employees and their beneficiaries under the plan. (ii) Treatment of unpredictable contingent event benefits For purposes of clause (i), any benefit contingent on an event other than— (I) age, service, compensation, death, or disability, or (II) an event which is reasonably and reliably predictable (as determined by the Secretary of the Treasury), shall not be taken into account until the event on which the benefit is contingent occurs. (iii) Interest rate used The rate of interest used to determine current liability under this paragraph shall be the rate of interest determined under subparagraph (E).

“full-funding limitation” applies in that section

the term “full-funding limitation” means the excess (if any) of— (i) the accrued liability (including normal cost) under the plan (determined under the entry age normal funding method if such accrued liability cannot be directly calculated under the funding method used for the plan), over (ii) the lesser of— (I) the fair market value of the plan’s assets, or (II) the value of such assets determined under paragraph (2).

“permissible range” applies in that section

the term “permissible range” means a rate of interest which is not more than 5 percent above, and not more than 10 percent below, the weighted average of the rates of interest on 30-year Treasury securities during the 4-year period ending on the last day before the beginning of the plan year. (II) Secretarial authority If the Secretary of the Treasury finds that the lowest rate of interest permissible under subclause (I) is unreasonably high, such Secretary may prescribe a lower rate of interest, except that such rate may not be less than 80 percent of the average rate determined under such subclause.

“accumulated funding deficiency” applies in that section

The term “accumulated funding deficiency” has the meaning given such term in section 1084(a) of this title . (4) Active participant

“active participant” applies in that section

The term “active participant” means, in connection with a multiemployer plan, a participant who is in covered service under the plan. (5) Inactive participant

“adjustable benefit” applies in that section

the term “adjustable benefit” means— (I) benefits, rights, and features under the plan, including post-retirement death benefits, 60-month guarantees, disability benefits not yet in pay status, and similar benefits, (II) any early retirement benefit or retirement-type subsidy (within the meaning of section 1054(g)(2)(A) of this title ) and any benefit payment option (other than the qualified joint and survivor annuity), and (III) benefit increases that would not be eligible for a guarantee under section 1322a of this title on the first day of initial critical year because the increases were adopted (or, if later, took effect) less than 60 months before such first day.

“applicable benchmarks” applies in that section

the term “applicable benchmarks” means the requirements applicable to the multiemployer plan under paragraph (3) (as modified by paragraph (5)). (2) Exception for years after process begins Paragraph (1) shall not apply to a plan year if such year is in a funding plan adoption period or funding improvement period by reason of the plan being in endangered status for a preceding plan year. For purposes of this section, such preceding plan year shall be the initial determination year with respect to the funding improvement plan to which it relates.

“bargaining party” applies in that section

The term “bargaining party” means— (A) (i) except as provided in clause (ii), an employer who has an obligation to contribute under the plan; or (ii) in the case of a plan described under section 404(c) of title 26 , or a continuation of such a plan, the association of employers that is the employer settlor of the plan; and (B) an employee organization which, for purposes of collective bargaining, represents plan participants employed by an employer who has an obligation to contribute under the plan. (2) Funded percentage

“benefit commencement date” applies in that section

The term “benefit commencement date” means the annuity starting date (or in the case of a retroactive annuity starting date, the date on which benefit payments begin).

“benefit improvement” applies in that section

the term “benefit improvement” means, with respect to a plan, a resumption of suspended benefits, an increase in benefits, an increase in the rate at which benefits accrue, or an increase in the rate at which benefits become nonforfeitable under the plan.

“funded percentage” applies in that section

The term “funded percentage” means the percentage equal to a fraction— (A) the numerator of which is the value of the plan’s assets, as determined under section 1084(c)(2) of this title , and (B) the denominator of which is the accrued liability of the plan, determined using actuarial assumptions described in section 1084(c)(3) of this title . (3) Accumulated funding deficiency

“funding plan adoption period” applies in that section

the term “funding plan adoption period” means the period beginning on the date of the certification under subsection (b)(3)(A) for the initial determination year and ending on the day before the first day of the funding improvement period. (d) Rules for operation of plan during adoption and improvement periods (1) Compliance with funding improvement plan (A) In general A plan may not be amended after the date of the adoption of a funding improvement plan under subsection (c) so as to be inconsistent with the funding improvement plan.

“inactive participant” applies in that section

The term “inactive participant” means, in connection with a multiemployer plan, a participant, or the beneficiary or alternate payee of a participant, who— (A) is not in covered service under the plan, and (B) is in pay status under the plan or has a nonforfeitable right to benefits under the plan.

“obligation to contribute” applies in that section

The term “obligation to contribute” has the meaning given such term under section 1392(a) of this title . (8) Actuarial method Notwithstanding any other provision of this section, the actuary’s determinations with respect to a plan’s normal cost, actuarial accrued liability, and improvements in a plan’s funded percentage under this section shall be based upon the unit credit funding method (whether or not that method is used for the plan’s actuarial valuation). (9) Plan sponsor In the case of a plan described under section 404(c) of title 26 , or a continuation of such a plan,

“plan sponsor” applies in that section

the term “plan sponsor” means the bargaining parties described under paragraph (1). (10) Benefit commencement date

“rehabilitation plan adoption period” applies in that section

the term “rehabilitation plan adoption period” means the period beginning on the date of the certification under subsection (b)(3)(A) for the initial critical year and ending on the day before the first day of the rehabilitation period.

“suspension of benefits” applies in that section

the term “suspension of benefits” means the temporary or permanent reduction of any current or future payment obligation of the plan to any participant or beneficiary under the plan, whether or not in pay status at the time of the suspension of benefits. (ii) Length of suspensions Any suspension of benefits made under subparagraph (A) shall remain in effect until the earlier of when the plan sponsor provides benefit improvements in accordance with subparagraph (E) or the suspension of benefits expires by its own terms. (iii) No liability The plan shall not be liable for any benefit payments not made as a result of a suspension of benefits under this paragraph.

“accumulated funding deficiency” applies in that section

the term “accumulated funding deficiency” means, for such plan year, the greater of— (i) the amount described in subsection (a), or (ii) the excess of the normal cost of the plan for the plan year over the amount actually contributed to or under the plan for the plan year. (B) Normal cost In the case of a CSEC plan that uses a spread gain funding method, for purposes of this subsection,

“adjusted disbursements” applies in that section

The term “adjusted disbursements” means disbursements from the plan reduced by the product of— (I) the plan’s funded current liability percentage for the plan year, and (II) the sum of the purchases of annuities, payments of single sums, and such other disbursements as the Secretary of the Treasury shall provide in regulations. (v) Liquid assets

“base amount” applies in that section

The term “base amount” means, with respect to any quarter, an amount equal to 3 times the sum of the adjusted disbursements from the plan for the 12 months ending on the last day of such quarter. (II) Special rule If the amount determined under subclause (I) exceeds an amount equal to 2 times the sum of the adjusted disbursements from the plan for the 36 months ending on the last day of the quarter and an enrolled actuary certifies to the satisfaction of the Secretary of the Treasury that such excess is the result of nonrecurring circumstances, the base amount with respect to such quarter shall be determined without regard to amounts related to those nonrecurring circumstances.

“controlled group” applies in that section

The term “controlled group” means any group treated as a single employer under subsections (b), (c), (m), and ( o ) of section 414 of title 26 . (h) Current liability For purposes of this section— (1) In general

“current liability” applies in that section

The term “current liability” means all liabilities to employees and their beneficiaries under the plan. (2) Treatment of unpredictable contingent event benefits (A) In general For purposes of paragraph (1), any unpredictable contingent event benefit shall not be taken into account until the event on which the benefit is contingent occurs. (B) Unpredictable contingent event benefit

“disbursements from the plan” applies in that section

The term “disbursements from the plan” means all disbursements from the trust, including purchases of annuities, payments of single sums and other benefits, and administrative expenses. (iv) Adjusted disbursements

“due date” applies in that section

The terms “due date” and “required installment” have the meanings given such terms by subsection (f), except that in the case of a payment other than a required installment, the due date shall be the date such payment is required to be made under this section. (B) Controlled group

“full-funding limitation” applies in that section

the term “full-funding limitation” means the excess (if any) of— (A) the accrued liability (including normal cost) under the plan (determined under the entry age normal funding method if such accrued liability cannot be directly calculated under the funding method used for the plan), over (B) the lesser of— (i) the fair market value of the plan’s assets, or (ii) the value of such assets determined under paragraph (2).

“funded current liability percentage” applies in that section

the term “funded current liability percentage” means, with respect to any plan year, the percentage which— (1) the value of the plan’s assets determined under subsection (c)(2), is of (2) the current liability under the plan. (j) Funding restoration status Notwithstanding any other provisions of this section— (1) Normal cost payment (A) In general In the case of a CSEC plan that is in funding restoration status for a plan year, for purposes of section 1082 of this title ,

“funded percentage” applies in that section

The term “funded percentage” means the ratio (expressed as a percentage) which— (i) the value of plan assets (as determined under subsection (c)(2)), bears to (ii) the plan’s funding liability. (C) Funding liability The term “funding liability” for a plan year means the present value of all benefits accrued or earned under the plan as of the beginning of the plan year, based on the assumptions used by the plan pursuant to this section, including the interest rate described in subsection (b)(5)(A) (without regard to subsection (b)(5)(B)). (D) Spread gain funding method

“liquid assets” applies in that section

The term “liquid assets” means cash, marketable securities and such other assets as specified by the Secretary of the Treasury in regulations. (vi) Quarter

“liquidity shortfall” applies in that section

The term “liquidity shortfall” means, with respect to any required installment, an amount equal to the excess (as of the last day of the quarter for which such installment is made) of the base amount with respect to such quarter over the value (as of such last day) of the plan’s liquid assets. (ii) Base amount (I) In general

“normal cost” applies in that section

the term “normal cost” means normal cost as determined under the entry age normal funding method. (2) Plan amendments In the case of a CSEC plan that is in funding restoration status for a plan year, no amendment to such plan may take effect during such plan year if such amendment has the effect of increasing liabilities of the plan by means of increases in benefits, establishment of new benefits, changing the rate of benefit accrual, or changing the rate at which benefits become nonforfeitable. This paragraph shall not apply to any plan amendment that is required to comply with any applicable law.

“quarter” applies in that section

The term “quarter” means, with respect to any required installment, the 3-month period preceding the month in which the due date for such installment occurs. (F) Regulations The Secretary of the Treasury may prescribe such regulations as are necessary to carry out this paragraph. (6) Fiscal years and short years (A) Fiscal years In applying this subsection to a plan year beginning on any date other than January 1, there shall be substituted for the months specified in this subsection, the months which correspond thereto. (B) Short plan year This subsection shall be applied to plan years of less than 12 months in accordance with regulations prescribed by the Secretary of the Treasury.

“required annual payment” applies in that section

the term “required annual payment” means the lesser of— (i) 90 percent of the amount required to be contributed to or under the plan by the employer for the plan year under section 1082 of this title (without regard to any waiver under subsection (c) thereof), or (ii) 100 percent of the amount so required for the preceding plan year. Clause (ii) shall not apply if the preceding plan year was not a year of 12 months.

“required installment” applies in that section

The terms “due date” and “required installment” have the meanings given such terms by subsection (f), except that in the case of a payment other than a required installment, the due date shall be the date such payment is required to be made under this section. (B) Controlled group

“spread gain funding method” applies in that section

The term “spread gain funding method” has the meaning given such term under rules and forms issued by the Secretary of the Treasury.

“unpredictable contingent event benefit” applies in that section

The term “unpredictable contingent event benefit” means any benefit contingent on an event other than— (i) age, service, compensation, death, or disability, or (ii) an event which is reasonably and reliably predictable (as determined by the Secretary of the Treasury). (3) Interest rate and mortality assumptions used (A) Interest rate The rate of interest used to determine current liability under this section shall be the third segment rate determined under section 1083(h)(2)(C) of this title . (B) Mortality tables (i) Secretarial authority The Secretary of the Treasury may by regulation prescribe mortality tables to be used in determining current liability under this subsection.

“guaranteed benefit policy” applies in that section

The term “guaranteed benefit policy” means an insurance policy or contract to the extent that such policy or contract provides for benefits the amount of which is guaranteed by the insurer. Such term includes any surplus in a separate account, but excludes any other portion of a separate account.

“insurer” applies in that section

The term “insurer” means an insurance company, insurance service, or insurance organization, qualified to do business in a State.;

“policy” applies in that section

the term “policy” includes a contract.

“named fiduciary” applies throughout its subchapter

the term “named fiduciary” means a fiduciary who is named in the plan instrument, or who, pursuant to a procedure specified in the plan, is identified as a fiduciary (A) by a person who is an employer or employee organization with respect to the plan or (B) by such an employer and such an employee organization acting jointly.

“blackout period” applies in that section

the term “blackout period” has the meaning given such term by section 1021(i)(7) of this title . (2) In the case of a simple retirement account established pursuant to a qualified salary reduction arrangement under section 408(p) of title 26 , a participant or beneficiary shall, for purposes of paragraph (1), be treated as exercising control over the assets in the account upon the earliest of— (A) an affirmative election among investment options with respect to the initial investment of any contribution, (B) a rollover to any other simple retirement account or individual retirement plan, or (C) one year after the simple retirement account is established.

“guaranteed retirement income contract” applies in that section

The term “guaranteed retirement income contract” means an annuity contract for a fixed term or a contract (or provision or feature thereof) which provides guaranteed benefits annually (or more frequently) for at least the remainder of the life of the participant or the joint lives of the participant and the participant’s designated beneficiary as part of an individual account plan.

“insurer” applies in that section

The term “insurer” means an insurance company, insurance service, or insurance organization, including affiliates of such companies. (B) Guaranteed retirement income contract

“qualified change in investment options” applies in that section

the term “qualified change in investment options” means, in connection with an individual account plan, a change in the investment options offered to the participant or beneficiary under the terms of the plan, under which— (i) the account of the participant or beneficiary is reallocated among one or more remaining or new investment options which are offered in lieu of one or more investment options offered immediately prior to the effective date of the change, and (ii) the stated characteristics of the remaining or new investment options provided under clause (i), including characteristics relating to risk and rate of return, are, as of immediately after the change, reasonably similar to …

“trustee responsibility” applies in that section

the term “trustee responsibility” means any responsibility provided in the plan’s trust instrument (if any) to manage or control the assets of the plan, other than a power under the trust instrument of a named fiduciary to appoint an investment manager in accordance with section 1102(c)(3) of this title .

“applicable elective deferral” applies in that section

the term “applicable elective deferral” means any elective deferral (as defined in section 402(g)(3)(A) of title 26 ) which is made pursuant to a qualified cash or deferred arrangement as defined in section 401(k) of title 26 . (3) Cross References.— (A) For exemption from diversification requirements for holding of qualifying employer securities and qualifying employer real property by eligible individual account plans, see section 1104(a)(2) of this title . (B) For exemption from prohibited transactions for certain acquisitions of qualifying employer securities and qualifying employer real property which are not in violation of 10 percent limitation, see section 1108(e) of this title .

“applicable percentage” applies in that section

the term “applicable percentage” means 50 percent, or such lower percentage as the Secretary may prescribe by regulation. A person other than a corporation shall be treated as an affiliate of an employer to the extent provided in regulations of the Secretary. An employer which is a person other than a corporation shall be treated as affiliated with another person to the extent provided by regulations of the Secretary. Regulations under this paragraph shall be prescribed only after consultation and coordination with the Secretary of the Treasury.

“eligible individual account plan” applies in that section

The term “eligible individual account plan” means an individual account plan which is (i) a profit-sharing, stock bonus, thrift, or savings plan; (ii) an employee stock ownership plan; or (iii) a money purchase plan which was in existence on September 2, 1974 , and which on such date invested primarily in qualifying employer securities. Such term excludes an individual retirement account or annuity described in section 408 of title 26 .

“employee stock ownership plan” applies in that section

The term “employee stock ownership plan” means an individual account plan— (A) which is a stock bonus plan which is qualified, or a stock bonus plan and money purchase plan both of which are qualified, under section 401 of title 26 , and which is designed to invest primarily in qualifying employer securities, and (B) which meets such other requirements as the Secretary of the Treasury may prescribe by regulation.

“employer real property” applies in that section

The term “employer real property” means real property (and related personal property) which is leased to an employer of employees covered by the plan, or to an affiliate of such employer. For purposes of determining the time at which a plan acquires employer real property for purposes of this section, such property shall be deemed to be acquired by the plan on the date on which the plan acquires the property or on the date on which the lease to the employer (or affiliate) is entered into, whichever is later. (3);

“employer security” applies in that section

The term “employer security” means a security issued by an employer of employees covered by the plan, or by an affiliate of such employer. A contract to which section 1108(b)(5) of this title applies shall not be treated as a security for purposes of this section.;

“marketable obligation” applies in that section

the term “marketable obligation” means a bond, debenture, note, or certificate, or other evidence of indebtedness (hereinafter in this subsection referred to as “obligation”) if— (1) such obligation is acquired— (A) on the market, either (i) at the price of the obligation prevailing on a national securities exchange which is registered with the Securities and Exchange Commission, or (ii) if the obligation is not traded on such a national securities exchange, at a price not less favorable to the plan than the offering price for the obligation as established by current bid and asked prices quoted by persons independent of the issuer; (B) from an underwriter, at a price (i) not in excess of …

“qualifying employer real property” applies in that section

The term “qualifying employer real property” means parcels of employer real property— (A) if a substantial number of the parcels are dispersed geographically; (B) if each parcel of real property and the improvements thereon are suitable (or adaptable without excessive cost) for more than one use; (C) even if all of such real property is leased to one lessee (which may be an employer, or an affiliate of an employer); and (D) if the acquisition and retention of such property comply with the provisions of this part (other than section 1104(a)(1)(B) of this title to the extent it requires diversification, and sections 1104(a)(1)(C), 1106 of this title, and subsection (a) of this section).;

“qualifying employer security” applies in that section

The term “qualifying employer security” means an employer security which is— (A) stock, (B) a marketable obligation (as defined in subsection (e)), or (C) an interest in a publicly traded partnership (as defined in section 7704(b) of title 26 ), but only if such partnership is an existing partnership as defined in section 10211(c)(2)(A) of the Revenue Act of 1987 ( Public Law 100–203 ). After December 17, 1987 , in the case of a plan other than an eligible individual account plan, an employer security described in subparagraph (A) or (C) shall be considered a qualifying employer security only if such employer security satisfies the requirements of subsection (f)(1).;

“adequate consideration” applies in that section

the term “adequate consideration” means— (i) in the case of a security for which there is a generally recognized market— (I) the price of the security prevailing on a national securities exchange which is registered under section 6 of the Securities Exchange Act of 1934 [ 15 U.S.C.

“applicable entity” applies in that section

the terms “applicable entity” and “applicable group purchasing organization” have the meanings given such terms in section 1185 o (e) of this title;

“applicable group purchasing organization” applies in that section

the terms “applicable entity” and “applicable group purchasing organization” have the meanings given such terms in section 1185 o (e) of this title;

“block trade” applies in that section

the term “block trade” means any trade of at least 10,000 shares or with a market value of at least $200,000 which will be allocated across two or more unrelated client accounts of a fiduciary. (16) Any transaction involving the purchase or sale of securities, or other property (as determined by the Secretary), between a plan and a party in interest if— (A) the transaction is executed through an electronic communication network, alternative trading system, or similar execution system or trading venue subject to regulation and oversight by— (i) the applicable Federal regulating entity, or (ii) such foreign regulatory entity as the Secretary may determine by regulation, (B) either— (i) the …

“commodity” applies in that section

The term “commodity” has the meaning given such term by section 475(e)(2) of title 26 (without regard to subparagraph (D)(iii) thereof).;

“compensation” applies in that section

The term “compensation” means anything of monetary value, but does not include non-monetary compensation valued at $250 (or such amount as the Secretary may establish in regulations to account for inflation since December 27, 2020 , as appropriate) or less, in the aggregate, during the term of the contract or arrangement.;

“correct” applies in that section

The term “correct” means, with respect to a transaction— (I) to undo the transaction to the extent possible and in any case to make good to the plan or affected account any losses resulting from the transaction, and (II) to restore to the plan or affected account any profits made through the use of assets of the plan. (21) The provision of a de minimis financial incentive described in section 401(k)(4)(A) or section 403(b)(12)(A) of title 26 .

“correction period” applies in that section

the term “correction period” means, in connection with a fiduciary or party in interest (or other person knowingly participating in the transaction), the 14-day period beginning on the date on which such fiduciary or party in interest (or other person) discovers, or reasonably should have discovered, that the transaction would (without regard to this paragraph) constitute a violation of section 1106(a) of this title . (E) For purposes of this paragraph—;

“covered plan” applies in that section

The term “covered plan” means a group health plan as defined in section 1191b(a) of this title and

“covered service provider” applies in that section

The term “covered service provider” means a service provider that enters into a contract or arrangement with the covered plan and reasonably expects $1,000 (or such amount as the Secretary may establish in regulations to account for inflation since December 27, 2020 , as appropriate) or more in compensation, direct or indirect, to be received in connection with providing one or more of the following services, pursuant to the contract or arrangement, regardless of whether such services will be performed, or such compensation received, by the covered service provider, an affiliate, or a subcontractor: (AA) Services (including brokerage services), for which the covered service provider, an …

“direct compensation” applies in that section

The term “direct compensation” means compensation received directly from a covered plan.;

“eligible investment advice arrangement” applies in that section

the term “eligible investment advice arrangement” means an arrangement— (A) which either— (i) provides that any fees (including any commission or other compensation) received by the fiduciary adviser for investment advice or with respect to the sale, holding, or acquisition of any security or other property for purposes of investment of plan assets do not vary depending on the basis of any investment option selected, or (ii) uses a computer model under an investment advice program meeting the requirements of paragraph (3) in connection with the provision of investment advice by a fiduciary adviser to a participant or beneficiary, and (B) with respect to which the requirements of paragraph …

“eligible investment expert” applies in that section

The term “eligible investment expert” means any person— (I) which meets such requirements as the Secretary may provide, and (II) does not bear any material affiliation or contractual relationship with any investment adviser or a related person thereof (or any employee, agent, or registered representative of the investment adviser or related person).

“fiduciary adviser” applies in that section

The term “fiduciary adviser” means, with respect to a plan, a person who is a fiduciary of the plan by reason of the provision of investment advice referred to in section 1002(21)(A)(ii) of this title by the person to a participant or beneficiary of the plan and who is— (i) registered as an investment adviser under the Investment Advisers Act of 1940 ( 15 U.S.C.

“group health insurance coverage” applies in that section

the terms “group health insurance coverage”, “health insurance coverage”, and “health insurance issuer” have the meanings given such terms in section 1191b of this title . (3) A loan to an employee stock ownership plan (as defined in section 1107(d)(6) of this title ), if— (A) such loan is primarily for the benefit of participants and beneficiaries of the plan, and (B) such loan is at an interest rate which is not in excess of a reasonable rate. If the plan gives collateral to a party in interest for such loan, such collateral may consist only of qualifying employer securities (as defined in section 1107(d)(5) of this title ).

“group health plan” applies in that section

the term “group health plan” has the meaning given such term in section 1191b(a) of this title .

“health insurance coverage” applies in that section

the terms “health insurance coverage” and “health insurance issuer” have the meanings given such terms in section 1191b(b) of this title .;

“health insurance issuer” applies in that section

the terms “health insurance coverage” and “health insurance issuer” have the meanings given such terms in section 1191b(b) of this title .;

“indirect compensation” applies in that section

The term “indirect compensation” means compensation received from any source other than the covered plan, the plan sponsor, the covered service provider, or an affiliate. Compensation received from a subcontractor is indirect compensation, unless it is received in connection with services performed under a contract or arrangement with a subcontractor.;

“responsible plan fiduciary” applies in that section

The term “responsible plan fiduciary” means a fiduciary with authority to cause the covered plan to enter into, or extend or renew, the contract or arrangement.;

“security” applies in that section

The term “security” has the meaning given such term by section 475(c)(2) of title 26 (without regard to subparagraph (F)(iii) and the last sentence thereof).;

“shareholder-employee” applies in that section

the term “shareholder-employee” means an employee or officer of an S corporation (as defined in section 1361(a)(1) of such title) who owns (or is considered as owning within the meaning of section 318(a)(1) of such title) more than 5 percent of the outstanding stock of the corporation on any day during the taxable year of such corporation.

“subcontractor” applies in that section

The term “subcontractor” means any person or entity (or an affiliate of such person or entity) that is not an affiliate of the covered service provider and that, pursuant to a contract or arrangement with the covered service provider or an affiliate, reasonably expects to receive $1,000 (or such amount as the Secretary may establish in regulations to account for inflation since December 27, 2020 , as appropriate) or more in compensation for performing one or more services described in item (bb) under a contract or arrangement with the covered plan.

“consultant” applies in that section

The term “consultant” means any person who, for compensation, advises, or represents an employee benefit plan or who provides other assistance to such plan, concerning the establishment or operation of such plan. (3) A period of parole or supervised release shall not be considered as part of a period of imprisonment.

“applicable recovery amount” applies in that section

the term “applicable recovery amount” means any amount which is recovered from a fiduciary or other person with respect to a breach or violation described in paragraph (1)— (A) pursuant to any settlement agreement with the Secretary, or (B) ordered by a court to be paid by such fiduciary or other person to a plan or its participants and beneficiaries in a judicial proceeding instituted by the Secretary under subsection (a)(2) or (a)(5).

“noncompliance period” applies in that section

the term “noncompliance period” means, with respect to any failure, the period— (I) beginning on the date such failure first occurs; and (II) ending on the date the failure is corrected. (C) Minimum penalties where failure discovered .— Notwithstanding clauses (i) and (ii) of subparagraph (D): (i) In general .— In the case of 1 or more failures with respect to a participant or beneficiary— (I) which are not corrected before the date on which the plan receives a notice from the Secretary of such violation; and (II) which occurred or continued during the period involved; the amount of penalty imposed by subparagraph (A) by reason of such failures with respect to such participant or …

“automatic contribution arrangement” applies in that section

the term “automatic contribution arrangement” means an arrangement— (A) under which a participant may elect to have the plan sponsor make payments as contributions under the plan on behalf of the participant, or to the participant directly in cash, (B) under which a participant is treated as having elected to have the plan sponsor make such contributions in an amount equal to a uniform percentage of compensation provided under the plan until the participant specifically elects not to have such contributions made (or specifically elects to have such contributions made at a different percentage), and (C) under which such contributions are invested in accordance with regulations prescribed by …

“State” applies in that section

The term “State” includes a State, any political subdivisions thereof, or any agency or instrumentality of either, which purports to regulate, directly or indirectly, the terms and conditions of employee benefit plans covered by this subchapter. (d) Alteration, amendment, modification, invalidation, impairment, or supersedure of any law of the United States prohibited Nothing in this subchapter shall be construed to alter, amend, modify, invalidate, impair, or supersede any law of the United States (except as provided in sections 1031 and 1137(b) of this title) or any rule or regulation issued under any such law.

“State law” applies in that section

The term “State law” includes all laws, decisions, rules, regulations, or other State action having the effect of law, of any State. A law of the United States applicable only to the District of Columbia shall be treated as a State law rather than a law of the United States.;

“church plan” applies in that section

The term “church plan” has the meaning given such term by section 414(e) of title 26 and section 1002(33) of this title . (2) Reimburses costs from general church assets

“reimburses costs from general church assets” applies in that section

The term “reimburses costs from general church assets” means engaging in an activity that is not the spreading of risk solely for the purposes of the provisions of State insurance laws described in subsection (b). (3) Welfare plan

“welfare plan” applies in that section

The term “welfare plan”— (A) means any church plan to the extent that such plan provides medical, surgical, or hospital care or benefits, or benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs, or day care centers, scholarship funds, or prepaid legal services; and (B) does not include any entity, such as a health insurance issuer described in section 9832(b)(2) of title 26 or a health maintenance organization described in section 9832(b)(3) of title 26 , or any other organization that does business with the church plan or organization sponsoring or maintaining such a plan.

“State” applies in that section

the term “State” means a State, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, and any other territory or possession of the United States. (i) Authorization of appropriations (1) In general There is authorized to be appropriated for fiscal years beginning on or after October 1, 1997 , such sums as are necessary to carry out this section.

“administrator” applies in that section

the term “administrator” has the meaning given such term in section 1002(16)(A) of this title . (e) Information collection from plans Effective with respect to plan years beginning after the second December 31 occurring after the date of the enactment of this subsection, the administrator of a plan to which the vesting standards of section 1053 of this title apply shall submit to the Secretary, at such time and in such form and manner as is prescribed in regulations— (1) the information described in paragraphs (1) through (4) of section 6057(b) of title 26 ; (2) the information described in subparagraphs (A) and (B) of section 6057(a)(2) of title 26 ; (3) the name and taxpayer identifying …

“continuation coverage” applies in that section

the term “continuation coverage” means coverage under the plan which meets the following requirements: (1) Type of benefit coverage The coverage must consist of coverage which, as of the time the coverage is being provided, is identical to the coverage provided under the plan to similarly situated beneficiaries under the plan with respect to whom a qualifying event has not occurred. If coverage is modified under the plan for any group of similarly situated beneficiaries, such coverage shall also be modified in the same manner for all individuals who are qualified beneficiaries under the plan pursuant to this part in connection with such group.

“qualifying event” applies throughout its part

the term “qualifying event” means, with respect to any covered employee, any of the following events which, but for the continuation coverage required under this part, would result in the loss of coverage of a qualified beneficiary: (1) The death of the covered employee. (2) The termination (other than by reason of such employee’s gross misconduct), or reduction of hours, of the covered employee’s employment. (3) The divorce or legal separation of the covered employee from the employee’s spouse. (4) The covered employee becoming entitled to benefits under title XVIII of the Social Security Act [ 42 U.S.C. 1395 et seq.].

“applicable premium” applies throughout its part

The term “applicable premium” means, with respect to any period of continuation coverage of qualified beneficiaries, the cost to the plan for such period of the coverage for similarly situated beneficiaries with respect to whom a qualifying event has not occurred (without regard to whether such cost is paid by the employer or employee).

“election period” applies throughout its part

The term “election period” means the period which— (A) begins not later than the date on which coverage terminates under the plan by reason of a qualifying event, (B) is of at least 60 days’ duration, and (C) ends not earlier than 60 days after the later of— (i) the date described in subparagraph (A), or (ii) in the case of any qualified beneficiary who receives notice under section 1166(4) 1 of this title, the date of such notice.

“nonelecting TAA-eligible individual” applies in that section

The term “nonelecting TAA-eligible individual” means a TAA-eligible individual who— (i) has a TAA-related loss of coverage; and (ii) did not elect continuation coverage under this part during the TAA-related election period. (B) TAA-eligible individual

“TAA-eligible individual” applies in that section

The term “TAA-eligible individual” means— (i) an eligible TAA recipient (as defined in paragraph (2) of section 35(c) of title 26 ), and (ii) an eligible alternative TAA recipient (as defined in paragraph (3) of such section). (C) TAA-related election period

“TAA-related election period” applies in that section

The term “TAA-related election period” means, with respect to a TAA-related loss of coverage, the 60-day election period under this part which is a direct consequence of such loss. (D) TAA-related loss of coverage

“TAA-related loss of coverage” applies in that section

The term “TAA-related loss of coverage” means, with respect to an individual whose separation from employment gives rise to being an TAA-eligible individual, the loss of health benefits coverage associated with such separation.

“covered employee” applies throughout its part

The term “covered employee” means an individual who is (or was) provided coverage under a group health plan by virtue of the performance of services by the individual for 1 or more persons maintaining the plan (including as an employee defined in section 401(c)(1) of title 26 ). (3) Qualified beneficiary (A) In general

“group health plan” applies throughout its part

The term “group health plan” means an employee welfare benefit plan providing medical care (as defined in section 213(d) of title 26 ) to participants or beneficiaries directly or through insurance, reimbursement, or otherwise. Such term shall not include any plan substantially all of the coverage under which is for qualified long-term care services (as defined in section 7702B(c) of title 26 ). Such term shall not include any qualified small employer health reimbursement arrangement (as defined in section 9831(d)(2) of title 26 ). (2) Covered employee

“qualified beneficiary” applies throughout its part

The term “qualified beneficiary” means, with respect to a covered employee under a group health plan, any other individual who, on the day before the qualifying event for that employee, is a beneficiary under the plan— (i) as the spouse of the covered employee, or (ii) as the dependent child of the employee. Such term shall also include a child who is born to or placed for adoption with the covered employee during the period of continuation coverage under this part. (B) Special rule for terminations and reduced employment In the case of a qualifying event described in section 1163(2) of this title ,

“alternate recipient” applies in that section

The term “alternate recipient” means any child of a participant who is recognized under a medical child support order as having a right to enrollment under a group health plan with respect to such participant. (D) Child

“child” applies in that section

The term “child” includes any child adopted by, or placed for adoption with, a participant of a group health plan. (3) Information to be included in qualified order A medical child support order meets the requirements of this paragraph only if such order clearly specifies— (A) the name and the last known mailing address (if any) of the participant and the name and mailing address of each alternate recipient covered by the order, except that, to the extent provided in the order, the name and mailing address of an official of a State or a political subdivision thereof may be substituted for the mailing address of any such alternate recipient, (B) a reasonable description of the type of …

“medical child support order” applies in that section

The term “medical child support order” means any judgment, decree, or order (including approval of a settlement agreement) which— (i) provides for child support with respect to a child of a participant under a group health plan or provides for health benefit coverage to such a child, is made pursuant to a State domestic relations law (including a community property law), and relates to benefits under such plan, or (ii) is made pursuant to a law relating to medical child support described in section 1908 of the Social Security Act [ 42 U.S.C.

“qualified medical child support order” applies in that section

The term “qualified medical child support order” means a medical child support order— (i) which creates or recognizes the existence of an alternate recipient’s right to, or assigns to an alternate recipient the right to, receive benefits for which a participant or beneficiary is eligible under a group health plan, and (ii) with respect to which the requirements of paragraphs (3) and (4) are met. (B) Medical child support order

“affiliation period” applies throughout its part

the term “affiliation period” means a period which, under the terms of the health insurance coverage offered by the health maintenance organization, must expire before the health insurance coverage becomes effective. The organization is not required to provide health care services or benefits during such period and no premium shall be charged to the participant or beneficiary for any coverage during the period. (B) Beginning Such period shall begin on the enrollment date. (C) Runs concurrently with waiting periods An affiliation period under a plan shall run concurrently with any waiting period under the plan.

“creditable coverage” applies throughout its part

the term “creditable coverage” means, with respect to an individual, coverage of the individual under any of the following: (A) A group health plan. (B) Health insurance coverage. (C) Part A or part B of title XVIII of the Social Security Act [ 42 U.S.C. 1395c et seq.; 1395j et seq.]. (D) Title XIX of the Social Security Act [ 42 U.S.C. 1396 et seq.], other than coverage consisting solely of benefits under section 1928 [ 42 U.S.C. 1396s ]. (E) Chapter 55 of title 10. (F) A medical care program of the Indian Health Service or of a tribal organization. (G) A State health benefits risk pool. (H) A health plan offered under chapter 89 of title 5.

“enrollment date” applies throughout its part

The term “enrollment date” means, with respect to an individual covered under a group health plan or health insurance coverage, the date of enrollment of the individual in the plan or coverage or, if earlier, the first day of the waiting period for such enrollment. (3) Late enrollee

“late enrollee” applies throughout its part

The term “late enrollee” means, with respect to coverage under a group health plan, a participant or beneficiary who enrolls under the plan other than during— (A) the first period in which the individual is eligible to enroll under the plan, or (B) a special enrollment period under subsection (f). (4) Waiting period

“preexisting condition exclusion” applies throughout its part

The term “preexisting condition exclusion” means, with respect to coverage, a limitation or exclusion of benefits relating to a condition based on the fact that the condition was present before the date of enrollment for such coverage, whether or not any medical advice, diagnosis, care, or treatment was recommended or received before such date. (B) Treatment of genetic information Genetic information shall not be treated as a condition described in subsection (a)(1) in the absence of a diagnosis of the condition related to such information. (2) Enrollment date

“TAA-eligible individual” applies throughout its part

The terms “TAA-eligible individual” and “TAA-related loss of coverage” have the meanings given such terms in section 1165(b)(4) of this title . (3) Method of crediting coverage (A) Standard method Except as otherwise provided under subparagraph (B), for purposes of applying subsection (a)(3), a group health plan, and a health insurance issuer offering group health insurance coverage, shall count a period of creditable coverage without regard to the specific benefits covered during the period.

“TAA-related loss of coverage” applies throughout its part

The terms “TAA-eligible individual” and “TAA-related loss of coverage” have the meanings given such terms in section 1165(b)(4) of this title . (3) Method of crediting coverage (A) Standard method Except as otherwise provided under subparagraph (B), for purposes of applying subsection (a)(3), a group health plan, and a health insurance issuer offering group health insurance coverage, shall count a period of creditable coverage without regard to the specific benefits covered during the period.

“waiting period” applies throughout its part

The term “waiting period” means, with respect to a group health plan and an individual who is a potential participant or beneficiary in the plan, the period that must pass with respect to the individual before the individual is eligible to be covered for benefits under the terms of the plan. (c) Rules relating to crediting previous coverage (1) “Creditable coverage” defined For purposes of this part,

“aggregate lifetime limit” applies in that section

The term “aggregate lifetime limit” means, with respect to benefits under a group health plan or health insurance coverage, a dollar limitation on the total amount that may be paid with respect to such benefits under the plan or health insurance coverage with respect to an individual or other coverage unit. (2) Annual limit

“annual limit” applies in that section

The term “annual limit” means, with respect to benefits under a group health plan or health insurance coverage, a dollar limitation on the total amount of benefits that may be paid with respect to such benefits in a 12-month period under the plan or health insurance coverage with respect to an individual or other coverage unit. (3) Medical or surgical benefits

“financial requirement” applies in that section

The term “financial requirement” includes deductibles, copayments, coinsurance, and out-of-pocket expenses, but excludes an aggregate lifetime limit and an annual limit subject to paragraphs (1) and (2), 1 (ii) Predominant A financial requirement or treatment limit is considered to be predominant if it is the most common or frequent of such type of limit or requirement. (iii) Treatment limitation

“medical or surgical benefits” applies in that section

The term “medical or surgical benefits” means benefits with respect to medical or surgical services, as defined under the terms of the plan or coverage (as the case may be), but does not include mental health or substance use disorder benefits. (4) Mental health benefits

“mental health benefits” applies in that section

The term “mental health benefits” means benefits with respect to services for mental health conditions, as defined under the terms of the plan and in accordance with applicable Federal and State law. (5) Substance use disorder benefits

“small employer” applies in that section

the term “small employer” means, in connection with a group health plan with respect to a calendar year and a plan year, an employer who employed an average of at least 2 (or 1 in the case of an employer residing in a State that permits small groups to include a single individual) but not more than 50 employees on business days during the preceding calendar year. (C) Application of certain rules in determination of employer size For purposes of this paragraph— (i) Application of aggregation rule for employers Rules similar to the rules under subsections (b), (c), (m), and ( o ) of section 414 of title 26 shall apply for purposes of treating persons as a single employer.

“substance use disorder benefits” applies in that section

The term “substance use disorder benefits” means benefits with respect to services for substance use disorders, as defined under the terms of the plan and in accordance with applicable Federal and State law. (f) Secretary report The Secretary shall, by January 1, 2012 , and every two years thereafter, submit to the appropriate committees of Congress a report on compliance of group health plans (and health insurance coverage offered in connection with such plans) with the requirements of this section.

“treatment limitation” applies in that section

The term “treatment limitation” includes limits on the frequency of treatment, number of visits, days of coverage, or other similar limits on the scope or duration of treatment. (4) Availability of plan information The criteria for medical necessity determinations made under the plan with respect to mental health or substance use disorder benefits (or the health insurance coverage offered in connection with the plan with respect to such benefits) shall be made available by the plan administrator (or the health insurance issuer offering such coverage) in accordance with regulations to any current or potential participant, beneficiary, or contracting provider upon request.

“medically necessary leave of absence” applies in that section

the term “medically necessary leave of absence” means, with respect to a dependent child described in subsection (b)(2) in connection with a group health plan or health insurance coverage offered in connection with such plan, a leave of absence of such child from a postsecondary educational institution (including an institution of higher education as defined in section 1002 of title 20 ), or any other change in enrollment of such child at such an institution, that— (1) commences while such child is suffering from a serious illness or injury; (2) is medically necessary; and (3) causes such child to lose student status for purposes of coverage under the terms of the plan or coverage.

“cost-sharing” applies in that section

The term “cost-sharing” includes copayments, coinsurance, and deductibles. (b) Coverage of non-emergency services performed by nonparticipating providers at certain participating facilities (1) In general In the case of items or services (other than emergency services to which subsection (a) applies) for which any benefits are provided or covered by a group health plan or health insurance issuer offering group health insurance coverage furnished to a participant or beneficiary of such plan or coverage by a nonparticipating provider (as defined in subsection (a)(3)(G)(i)) (and who, with respect to such items and services, has not satisfied the notice and consent criteria of section …

“emergency department of a hospital” applies throughout its subpart

The term “emergency department of a hospital” includes a hospital outpatient department that provides emergency services (as defined in subparagraph (C)(i)). (B) Emergency medical condition

“emergency medical condition” applies throughout its subpart

The term “emergency medical condition” means a medical condition manifesting itself by acute symptoms of sufficient severity (including severe pain) such that a prudent layperson, who possesses an average knowledge of health and medicine, could reasonably expect the absence of immediate medical attention to result in a condition described in clause (i), (ii), or (iii) of section 1867(e)(1)(A) of the Social Security Act [ 42 U.S.C. 1395dd(e)(1)(A) ]. (C) Emergency services (i) In general The term “emergency services”, with respect to an emergency medical condition, means— (I) a medical screening examination (as required under section 1867 of the Social Security Act [ 42 U.S.C.

“emergency services” applies in that section

the term “emergency services” shall include, unless each of the conditions described in subclause (II) are met, in addition to the items and services described in clause (i), items and services— (aa) for which benefits are provided or covered under the plan or coverage, respectively; and (bb) that are furnished by a nonparticipating provider or nonparticipating emergency facility (regardless of the department of the hospital in which such items or services are furnished) after the participant or beneficiary is stabilized and as part of outpatient observation or an inpatient or outpatient stay with respect to the visit in which the services described in clause (i) are furnished.

“first coverage year” applies in that section

The term “first coverage year” means, with respect to a group health plan or group health insurance coverage offered by a health insurance issuer and an item or service for which coverage is not offered in 2019 under such plan or coverage, the first year after 2019 for which coverage for such item or service is offered under such plan or health insurance coverage. (II) First sufficient information year

“first sufficient information year” applies in that section

The term “first sufficient information year” means, with respect to a group health plan or group health insurance coverage offered by a health insurance issuer— (aa) in the case of an item or service for which the plan or coverage does not have sufficient information to calculate the median of the contracted rates described in clause (i)(I) in 2019, the first year subsequent to 2022 for which such sponsor or issuer has such sufficient information to calculate the median of such contracted rates in the year previous to such first subsequent year; and (bb) in the case of a newly covered item or service, the first year subsequent to the first coverage year for such item or service with respect …

“independent freestanding emergency department” applies in that section

The term “independent freestanding emergency department” means a health care facility that— (i) is geographically separate and distinct and licensed separately from a hospital under applicable State law; and (ii) provides any of the emergency services (as defined in subparagraph (C)(i)). (E) Qualifying payment amount (i) In general

“newly covered item or service” applies in that section

The term “newly covered item or service” means, with respect to a group health plan or health insurance issuer offering group health insurance coverage, an item or service for which coverage was not offered in 2019 under such plan or coverage, but is offered under such plan or coverage in a year after 2019. (F) Nonparticipating emergency facility; participating emergency facility (i) Nonparticipating emergency facility

“nonparticipating emergency facility” applies in that section

The term “nonparticipating emergency facility” means, with respect to an item or service and a group health plan or group health insurance coverage offered by a health insurance issuer, an emergency department of a hospital, or an independent freestanding emergency department, that does not have a contractual relationship directly or indirectly with the plan or issuer, respectively, for furnishing such item or service under the plan or coverage, respectively. (ii) Participating emergency facility

“nonparticipating provider” applies in that section

The term “nonparticipating provider” means, with respect to an item or service and a group health plan or group health insurance coverage offered by a health insurance issuer, a physician or other health care provider who is acting within the scope of practice of that provider’s license or certification under applicable State law and who does not have a contractual relationship with the plan or issuer, respectively, for furnishing such item or service under the plan or coverage, respectively. (ii) Participating provider