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29 U.S.C. § 1388

Reduction of partial withdrawal liability

United States · Title 29 — LABOR · Status: effective

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29 U.S.C. § 1388, Reduction of partial withdrawal liability, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/466305
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Full text

If the plan sponsor determines under paragraph (1) that the employer continues to have liability to the plan for the partial withdrawal, then— If— In any case in which, in any plan year following a partial withdrawal under section 1385(a)(1) of this title, the number of contribution base units with respect to which the employer has an obligation to contribute for such year equals or exceeds 110 percent (or such other percentage as the plan may provide by amendment and which is not prohibited under regulations prescribed by the corporation) of the number of contribution base units with respect to which the employer had an obligation to contribute in the partial withdrawal year, then the amount of the employer’s partial withdrawal liability payment for such year shall be reduced pro rata, in accordance with regulations prescribed by the corporation.

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.

  • Enacted byPub. L. 93-406(H.R. 2)1974-09-02
    Employee Retirement Income Security Act of 1974
    House: no recorded tallySenate: no recorded tally
  • Amended byPub. L. 96-364(H.R. 3904)1980-09-26
    An act to amend the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1954 to improve retirement income security under private multiemployer pension plans by strengthening the funding requirements for those plans, to authorize plan preservation measures for financially troubled multiemployer pension plans, and to revise the manner in which the pension plan termination insurance provisions apply to multiemployer plans, and for other purposes.
    House: no recorded tallySenate: no recorded tally