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