US Code

Public Law 119-88 (05/04/2026)

29 U.S.C. § 1322a

Multiemployer plan benefits guaranteed

(a)

Benefits of covered plans subject to guarantee

The corporation shall guarantee, in accordance with this section, the payment of all nonforfeitable benefits (other than benefits becoming nonforfeitable solely on account of the termination of a plan) under a multiemployer plan—
(1)
to which this subchapter applies, and
(2)
which is insolvent under section 1426(b) or 1441(d)(2) of this title.
(b)

Benefits or benefit increases not eligible for guarantee

(1)
(A)
section 1341a(a)(2) of this title For purposes of this section, a benefit or benefit increase which has been in effect under a plan for less than 60 months is not eligible for the corporation’s guarantee. For purposes of this paragraph, any month of any plan year during which the plan was insolvent or terminated (within the meaning of ) shall not be taken into account.
(B)
1
1 See References in Text note below.
1 For purposes of this section, a benefit or benefit increase which has been in effect under a plan for less than 60 months before the first day of the plan year for which an amendment reducing the benefit or the benefit increase is taken into account under section 1425(a)(2)  of this title in determining the minimum contribution requirement for the plan year under section 1423(b)  of this title is not eligible for the corporation’s guarantee.
(2)
For purposes of this section—
(A)
the date on which a benefit or a benefit increase under a plan is first in effect is the later of—
(i)
the date on which the documents establishing or increasing the benefit were executed, or
(ii)
the effective date of the benefit or benefit increase;
(B)
the period of time for which a benefit or a benefit increase has been in effect under a successor plan includes the period of time for which the benefit or benefit increase was in effect under a previously established plan; and
(C)
section 1321 of this titlesection 1321 of this title in the case of a plan to which did not apply on , the time periods referred to in this section are computed beginning on the date on which first applies to the plan.
(c)

Determinations respecting amount of guarantee

(1)
Except as provided in subsection (g), the monthly benefit of a participant or a beneficiary which is guaranteed under this section by the corporation with respect to a plan is the product of—
(A)
100 percent of the accrual rate up to $11, plus 75 percent of the lesser of—
(i)
$33, or
(ii)
the accrual rate, if any, in excess of $11, and
(B)
the number of the participant’s years of credited service.
(2)
For purposes of this section, the accrual rate is—
(A)
the monthly benefit of the participant or beneficiary which is described in subsection (a) and which is eligible for the corporation’s guarantee under subsection (b), except that such benefit shall be—
(i)
no greater than the monthly benefit which would be payable under the plan at normal retirement age in the form of a single life annuity, and
(ii)
section 411(a)(3)(E) of title 26 determined without regard to any reduction under ; divided by
(B)
the participant’s years of credited service.
(3)
For purposes of this subsection—
(A)
a year of credited service is a year in which the participant completed—
(i)
a full year of participation in the plan, or
(ii)
any period of service before participation which is credited for purposes of benefit accrual as the equivalent of a full year of participation;
(B)
any year for which the participant is credited for purposes of benefit accrual with a fraction of the equivalent of a full year of participation shall be counted as such a fraction of a year of credited service; and
(C)
section 411(a)(3)(E) of title 26 years of credited service shall be determined by including service which may otherwise be disregarded by the plan under .
(4)
section 1055(e)(1) of this titlesection 1426(b) of this title For purposes of subsection (a), in the case of a qualified preretirement survivor annuity (as defined in ) payable to the surviving spouse of a participant under a multiemployer plan which becomes insolvent under or 1441(d)(2) of this title or is terminated, such annuity shall not be treated as forfeitable solely because the participant has not died as of the date on which the plan became so insolvent or the termination date.
(d)

Amount of guarantee of reduced benefit

section 411(a)(3)(E) of title 26In the case of a benefit which has been reduced under , the corporation shall guarantee the lesser of—
(1)
the reduced benefit, or
(2)
the amount determined under subsection (c).
(e)

Ineligibility of benefits for guarantee

section 1322(b)(6) of this titleThe corporation shall not guarantee benefits under a multiemployer plan which, under , would not be guaranteed under a single-employer plan.

(f)

Study, report, etc., respecting premium increase in existing basic-benefit guarantee levels; Congressional procedures applicable for revision of schedules

(1)
No later than 5 years after , and at least every fifth year thereafter, the corporation shall—
(A)
conduct a study to determine—
(i)
the premiums needed to maintain the basic-benefit guarantee levels for multiemployer plans described in subsection (c), and
(ii)
whether the basic-benefit guarantee levels for multiemployer plans may be increased without increasing the basic-benefit premiums for multiemployer plans under this subchapter; and
(B)
report such determinations to the Committee on Ways and Means and the Committee on Education and Labor of the House of Representatives and to the Committee on Finance and the Committee on Labor and Human Resources of the Senate.
(2)
(A)
If the last report described in paragraph (1) indicates that a premium increase is necessary to support the existing basic-benefit guarantee levels for multiemployer plans, the corporation shall transmit to the Committee on Ways and Means and the Committee on Education and Labor of the House of Representatives and to the Committee on Finance and the Committee on Labor and Human Resources of the Senate by March 31 of any calendar year in which congressional action under this subsection is requested—
(i)
section 1306(b) of this title a revised schedule of basic-benefit guarantees for multiemployer plans which would be necessary in the absence of an increase in premiums approved in accordance with ,
(ii)
a revised schedule of basic-benefit premiums for multiemployer plans which is necessary to support the existing basic-benefit guarantees for such plans, and
(iii)
a revised schedule of basic-benefit guarantees for multiemployer plans for which the schedule of premiums necessary is higher than the existing premium schedule for such plans but lower than the revised schedule of premiums for such plans specified in clause (ii), together with such schedule of premiums.
(B)
The revised schedule of increased premiums referred to in subparagraph (A)(ii) or (A)(iii) shall go into effect as approved by the enactment of a joint resolution.
(C)
If an increase in premiums is not so enacted, the revised guarantee schedule described in subparagraph (A)(i) shall go into effect on the first day of the second calendar year following the year in which such revised guarantee schedule was submitted to the Congress.
(3)
(A)
If the last report described in paragraph (1) indicates that basic-benefit guarantees for multiemployer plans can be increased without increasing the basic-benefit premiums for multiemployer plans under this subchapter, the corporation shall submit to the Committee on Ways and Means and the Committee on Education and Labor of the House of Representatives and to the Committee on Finance and the Committee on Labor and Human Resources of the Senate by March 31 of the calendar year in which congressional action under this paragraph is requested—
(i)
a revised schedule of increases in the basic-benefit guarantees which can be supported by the existing schedule of basic-benefit premiums for multiemployer plans, and
(ii)
a revised schedule of basic-benefit premiums sufficient to support the existing basic-benefit guarantees.
(B)
The revised schedules referred to in subparagraph (A)(i) or subparagraph (A)(ii) shall go into effect as approved by the enactment of a joint resolution.
(4)
(A)
The succeeding subparagraphs of this paragraph are enacted by the Congress as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such they shall be deemed a part of the rules of each House, respectively, but applicable only with respect to the procedure to be followed in that House in the case of joint resolutions (as defined in subparagraph (B)). Such subparagraphs shall supersede other rules only to the extent that they are inconsistent therewith. They are enacted with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure of that House) at any time, in the same manner, and to the same extent as in the case of any rule of that House.
(B)
For purposes of this subsection, “joint resolution” means only a joint resolution, the matter after the resolving clause of which is as follows: “The proposed schedule described in        transmitted to the Congress by the Pension Benefit Guaranty Corporation on        is hereby approved.”, the first blank space therein being filled with “section 4022A(f)(2)(A)(ii) of the Employee Retirement Income Security Act of 1974”, “section 4022A(f)(2)(A)(iii) of the Employee Retirement Income Security Act of 1974”, “section 4022A(f)(3)(A)(i) of the Employee Retirement Income Security Act of 1974”, or “section 4022A(f)(3)(A)(ii) of the Employee Retirement Income Security Act of 1974” (whichever is applicable), and the second blank space therein being filled with the date on which the corporation’s message proposing the revision was submitted.
(C)
The procedure for disposition of a joint resolution shall be the procedure described in section 1306(b)(4) through (7) of this title.
(g)

Guarantee of payment of other classes of benefits and establishment of terms and conditions of guarantee; promulgation of regulations for establishment of supplemental program to guarantee benefits otherwise ineligible; status of benefits; applicability of revised schedule of premiums

(1)
The corporation may guarantee the payment of such other classes of benefits under multiemployer plans, and establish the terms and conditions under which those other classes of benefits are guaranteed, as it determines to be appropriate.
(2)
(A)
section 1306(a)(2)(B) of this titlesection 1305 of this title The corporation shall prescribe regulations to establish a supplemental program to guarantee benefits under multiemployer plans which would be guaranteed under this section but for the limitations in subsection (c). Such regulations shall be proposed by the corporation no later than the end of the 18th calendar month following . The regulations shall make coverage under the supplemental program available no later than . Any election to participate in the supplemental program shall be on a voluntary basis, and a plan electing such coverage shall continue to pay the premiums required under to the revolving fund used pursuant to in connection with benefits otherwise guaranteed under this section. Any such election shall be irrevocable, except to the extent otherwise provided by regulations prescribed by the corporation.
(B)
The regulations prescribed under this paragraph shall provide—
(i)
that a plan must elect coverage under the supplemental program within the time permitted by the regulations;
(ii)
unless the corporation determines otherwise, that a plan may not elect supplemental coverage unless the value of the assets of the plan as of the end of the plan year preceding the plan year in which the election must be made is an amount equal to 15 times the total amount of the benefit payments made under the plan for that year; and
(iii)
such other reasonable terms and conditions for supplemental coverage, including funding standards and any other reasonable limitations with respect to plans or benefits covered or to means of program financing, as the corporation determines are necessary and appropriate for a feasible supplemental program consistent with the purposes of this subchapter.
(3)
Any benefits guaranteed under this subsection shall be considered nonbasic benefits for purposes of this subchapter.
(4)
(A)
No revised schedule of premiums under this subsection, after the initial schedule, shall go into effect unless—
(i)
the revised schedule is submitted to the Congress, and
(ii)
a joint resolution described in subparagraph (B) is not enacted before the close of the 60th legislative day after such schedule is submitted to the Congress.
(B)
For purposes of subparagraph (A), a joint resolution described in this subparagraph is a joint resolution the matter after the resolving clause of which is as follows: “The revised premium schedule transmitted to the Congress by the Pension Benefit Guaranty Corporation under section 4022A(g)(4) of the Employee Retirement Income Security Act of 1974 on          is hereby disapproved.”, the blank space therein being filled with the date on which the revised schedule was submitted.
(C)
For purposes of subparagraph (A), the term “legislative day” means any calendar day other than a day on which either House is not in session because of a sine die adjournment or an adjournment of more than 3 days to a day certain.
(D)
section 1306(b) of this title The procedure for disposition of a joint resolution described in subparagraph (B) shall be the procedure described in paragraphs (4) through (7) of .
(5)
section 418E of title 26 Regulations prescribed by the corporation to carry out the provisions of this subsection, may, to the extent provided therein, supersede the requirements of sections 1426, 1431, and 1441 of this title, and the requirements of , but only with respect to benefits guaranteed under this subsection.
(h)

Applicability to nonforfeitable benefits accrued as of ; manner and extent of guarantee

(1)
Except as provided in paragraph (3), subsections (b) and (c) shall not apply with respect to the nonforfeitable benefits accrued as of , with respect to a participant or beneficiary under a multiemployer plan—
(1)
2  who is in pay status on , or
(2)
3
3 So in original. Probably should be “(B)”.
  who is within 36 months of the normal retirement age and has a nonforfeitable right to a pension as of that date.
(2)
section 1322 of this title The benefits described in paragraph (1) shall be guaranteed by the corporation in the same manner and to the same extent as benefits are guaranteed by the corporation under (without regard to this section).
(3)
This subsection does not apply with respect to a plan for plan years following a plan year—
(A)
section 1341a(a)(2) of this title in which the plan has terminated within the meaning of , or
(B)
in which it is determined by the corporation that substantially all the employers have withdrawn from the plan pursuant to an agreement or arrangement to withdraw.

Pub. L. 93–406, title IV, § 4022APub. L. 96–364, title I, § 10294 Stat. 1210 Pub. L. 99–272, title XI, § 11005(c)(4)100 Stat. 242 Pub. L. 101–239, title VII103 Stat. 2445 Pub. L. 106–554, § 1(a)(6) [title IX, § 951(a)]114 Stat. 2763 Pub. L. 113–235, div. O, title I, § 110(a)128 Stat. 2792 (, as added , , ; amended –(12), , ; , §§ 7891(a)(1), 7893(b), 7894(g)(3)(C)(i), , , 2447, 2451; , , , 2763A–586; , , .)

Editorial Notes

References in Text

Pub. L. 113–235, div. O, title I, § 108(a)(1)128 Stat. 2786 Sections 1423 and 1425 of this title, referred to in subsec. (b)(1)(B), were repealed by , , .

Section 4022A(f)(2)(A)(ii), (iii), (3)(A)(i), and (ii) of the Employee Retirement Income Security Act of 1974, referred to in subsec. (f)(4)(B), is classified to subsec. (f)(2)(A)(ii), (iii), (3)(A)(i) and (ii) of this section.

Section 4022A(g)(4) of the Employee Retirement Income Security Act of 1974, referred to in subsec. (g)(4)(B), is classified to subsec. (g)(4) of this section.

Amendments

Pub. L. 113–2352014—Subsec. (c)(4). added par. (4).

Pub. L. 106–554, § 1(a)(6) [title IX, § 951(a)(1)]2000—Subsec. (c)(1)(A). , substituted “$11” for “$5” in two places.

Pub. L. 106–554, § 1(a)(6) [title IX, § 951(a)(2)]Subsec. (c)(1)(A)(i). , substituted “$33” for “$15”.

Pub. L. 106–554, § 1(a)(6) [title IX, § 951(a)(3)]Subsec. (c)(2) to (6). , redesignated pars. (3) and (4) as (2) and (3), respectively, and struck out former pars. (2), (5), and (6). Prior to amendment, par. (2) modified the amount of benefits guaranteed under par. (1) with respect to plans described in par. (5)(A), par. (5) described certain plans for which the first plan year in which the plan was insolvent and in which benefits were required to be suspended or reduced to a certain level began before the year 2000, and par. (6) provided that par. (2) did not apply to a plan described in par. (5)(A) if the value of the assets of the plan was at least a specified amount for a specified period of time.

Pub. L. 101–239, § 7894(g)(3)(C)(i)section 1321 of this title1989—Subsec. (a)(1). , substituted “this subchapter” for “”.

Pub. L. 101–239, § 7891(a)(1)Subsecs. (c)(3)(A)(ii), (4)(C), (5)(A)(ii), (6), (d), (g)(5). , substituted “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.

Pub. L. 101–239, § 7893(b)Subsec. (f)(2)(B). , substituted “the enactment” for “the the enactment”.

Pub. L. 99–272, § 11005(c)(4)1986—Subsec. (f)(2)(B). , substituted “the enactment of a joint resolution” for “Congress by concurrent resolution”.

Pub. L. 99–272, § 11005(c)(5)Subsec. (f)(2)(C). , substituted “so enacted” for “approved”.

Pub. L. 99–272, § 11005(c)(6)Subsec. (f)(3)(B). , substituted “enactment of a joint resolution” for “Congress by concurrent resolution”.

Pub. L. 99–272, § 11005(c)(7)Subsec. (f)(4)(A). , substituted “joint” for “concurrent”.

Pub. L. 99–272, § 11005(c)(8)Subsec. (f)(4)(B). , substituted “joint” for “concurrent” in two places and “The” for “That the Congress favors the” and inserted “is hereby approved”.

Pub. L. 99–272, § 11005(c)(9)Subsec. (f)(4)(C). , substituted “joint” for “concurrent”.

Pub. L. 99–272, § 11005(c)(10)Subsec. (g)(4)(A)(ii). , substituted “joint” for “concurrent” and “enacted” for “adopted”.

Pub. L. 99–272, § 11005(c)(11)Subsec. (g)(4)(B). , substituted “joint” for “concurrent” in two places and “The” for “That the Congress disapproves the” and inserted “is hereby disapproved”.

Pub. L. 99–272, § 11005(c)(12)Subsec. (g)(4)(D). , substituted “joint” for “concurrent”.

Statutory Notes and Related Subsidiaries

Change of Name

Committee on Education and Labor of House of Representatives changed to Committee on Education and the Workforce of House of Representatives by House Resolution No. 5, One Hundred Eighteenth Congress, .

Committee on Labor and Human Resources of Senate changed to Committee on Health, Education, Labor, and Pensions of Senate by Senate Resolution No. 20, One Hundred Sixth Congress, .

Effective Date of 2014 Amendment

Pub. L. 113–235, div. O, title I, § 110(b)128 Stat. 2792

“The amendment made by this section [amending this section] shall apply with respect to multiemployer plan benefit payments becoming payable on or after , except that the amendment shall not apply in any case where the surviving spouse has died before the date of the enactment of this Act [].”
, , , provided that:

Effective Date of 2000 Amendment

Pub. L. 106–554, § 1(a)(6) [title IX, § 951(b)]114 Stat. 2763

29 U.S.C. 1431“The amendments made by this section [amending this section] shall apply to any multiemployer plan that has not received financial assistance (within the meaning of section 4261 of the Employee Retirement Income Security Act of 1974 []) within the 1-year period ending on the date of the enactment of this Act [].”
, , , 2763A–586, provided that:

Effective Date of 1989 Amendment

section 7891(a)(1) of Pub. L. 101–239Pub. L. 99–514section 7891(f) of Pub. L. 101–239section 1002 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .

section 7893(b) of Pub. L. 101–239Pub. L. 99–272, title XIsection 7893(h) of Pub. L. 101–239section 1002 of this titleAmendment by effective as if included in the provision of the Single-Employer Pension Plan Amendments Act of 1986, , to which such amendment relates, see , set out as a note under .

Pub. L. 101–239, title VII, § 7894(g)(3)(C)(ii)103 Stat. 2451

Pub. L. 96–364“The amendment made by clause (i) [amending this section] shall take effect as if originally included in section 102 of the Multiemployer Pension Plan Amendments Act of 1980 [].”
, , , provided that:

Effective Date of 1986 Amendment

Pub. L. 99–272section 11005(d)(1) of Pub. L. 99–272section 1306 of this titleAmendment by effective for plan years commencing after , see , set out as a note under .

Effective Date

section 1461(e) of this titleSection effective , except as specifically provided, see .