29 USC § 1306 Premium rates | United States Code | US Law

29 USC § 1306

Premium rates

July 22, 2020

USC

(a) Schedules for premium rates and bases for application; establishment, coverage, etc.

(1) The corporation shall prescribe such schedules of premium rates and bases for the application of those rates as may be necessary to provide sufficient revenue to the fund for the corporation to carry out its functions under this subchapter. The premium rates charged by the corporation for any period shall be uniform for all plans, other than multiemployer plans, insured by the corporation with respect to basic benefits guaranteed by it under section 1322 of this title, and shall be uniform for all multiemployer plans with respect to basic benefits guaranteed by it under section 1322a of this title.

(2) The corporation shall maintain separate schedules of premium rates, and bases for the application of those rates, for—

(A) basic benefits guaranteed by it under section 1322 of this title for single-employer plans,

(B) basic benefits guaranteed by it under section 1322a of this title for multiemployer plans,

(D) nonbasic benefits guaranteed by it under section 1322a of this title for multiemployer plans, and

(E) reimbursements of uncollectible withdrawal liability under section 1402 of this title.

The corporation may revise such schedules whenever it determines that revised schedules are necessary. Except as provided in section 1322a(f) of this title, in order to place a revised schedule described in subparagraph (A) or (B) in effect, the corporation shall proceed in accordance with subsection (b)(1), and such schedule shall apply only to plan years beginning more than 30 days after the date on which a joint resolution approving such revised schedule is enacted.

(3)

(A) Except as provided in subparagraph (C), the annual premium rate payable to the corporation by all plans for basic benefits guaranteed under this subchapter is—

(i) in the case of a single-employer plan other than a CSEC plan (as defined in section 1060(f)(1) of this title) an amount for each individual who is a participant in such plan during the plan year equal to the sum of the additional premium (if any) determined under subparagraph (E) and—

(I) for plan years beginning after December 31, 2005, and before January 1, 2013, $30;

(II) for plan years beginning after December 31, 2012, and before January 1, 2014, $42;

(III) for plan years beginning after December 31, 2013 and before January 1, 2015,,¹ $49.²

(IV) for plan years beginning after December 31, 2014, and before January 1, 2016, $57;

(V) for plan years beginning after December 31, 2015, and before January 1, 2017, $64;

(VI) for plan years beginning after December 31, 2016, and before January 1, 2018, $69;

(VII) for plan years beginning after December 31, 2017, and before January 1, 2019, $74; and

(VIII) for plan years beginning after December 31, 2018, $80.³

(ii) in the case of a multiemployer plan, for the plan year within which the date of enactment of the Multiemployer Pension Plan Amendments Act of 1980 falls, an amount for each individual who is a participant in such plan for such plan year equal to the sum of—

(I) 50 cents, multiplied by a fraction the numerator of which is the number of months in such year ending on or before such date and the denominator of which is 12, and

(II) $1.00, multiplied by a fraction equal to 1 minus the fraction determined under clause (i),

(iii) in the case of a multiemployer plan, for plan years beginning after September 26, 1980, and before January 1, 2006, an amount equal to—

(I) $1.40 for each participant, for the first, second, third, and fourth plan years,

(II) $1.80 for each participant, for the fifth and sixth plan years,

(III) $2.20 for each participant, for the seventh and eighth plan years, and

(IV) $2.60 for each participant, for the ninth plan year, and for each succeeding plan year,

(iv) in the case of a multiemployer plan, for plan years beginning after December 31, 2005, and before January 1, 2013, $8.00 for each individual who is a participant in such plan during the applicable plan year,

(v) in the case of a multiemployer plan, for plan years beginning after December 31, 2012, and before January 1, 2015, $12.00 for each individual who is a participant in such plan during the applicable plan year,

(vi) in the case of a multiemployer plan, for plan years beginning after December 31, 2014, $26 for each individual who is a participant in such plan during the applicable plan year, or

(vii) in the case of a CSEC plan (as defined in section 1060(f)(1) of this title), for plan years beginning after December 31, 2018, for each individual who is a participant in such plan during the plan year an amount equal to the sum of—

(I) the additional premium (if any) determined under subparagraph (E), and

(II) $19.

(B) The corporation may prescribe by regulation the extent to which the rate described in subparagraph (A)(i) applies more than once for any plan year to an individual participating in more than one plan maintained by the same employer, and the corporation may prescribe regulations under which the rate described in clause (iii) or (iv) of subparagraph (A) will not apply to the same participant in any multiemployer plan more than once for any plan year.

(C)

(i) If the sum of—

(I) the amounts in any fund for basic benefits guaranteed for multiemployer plans, and

(II) the value of any assets held by the corporation for payment of basic benefits guaranteed for multiemployer plans,

is for any calendar year less than 2 times the amount of basic benefits guaranteed by the corporation under this subchapter for multiemployer plans which were paid out of any such fund or assets during the preceding calendar year, the annual premium rates under subparagraph (A) shall be increased to the next highest premium level necessary to insure that such sum will be at least 2 times greater than such amount during the following calendar year.

(ii) If the board of directors of the corporation determines that an increase in the premium rates under subparagraph (A) is necessary to provide assistance to plans which are receiving assistance under section 1431 of this title and to plans the board finds are reasonably likely to require such assistance, the board may order such increase in the premium rates.

(iii) The maximum annual premium rate which may be established under this subparagraph is $2.60 for each participant.

(iv) The provisions of this subparagraph shall not apply if the annual premium rate is increased to a level in excess of $2.60 per participant under any other provisions of this subchapter.

(D)

(i) Not later than 120 days before the date on which an increase under subparagraph (C)(ii) is to become effective, the corporation shall publish in the Federal Register a notice of the determination described in subparagraph (C)(ii), the basis for the determination, the amount of the increase in the premium, and the anticipated increase in premium income that would result from the increase in the premium rate. The notice shall invite public comment, and shall provide for a public hearing if one is requested. Any such hearing shall be commenced not later than 60 days before the date on which the increase is to become effective.

(ii) The board of directors shall review the hearing record established under clause (i) and shall, not later than 30 days before the date on which the increase is to become effective, determine (after consideration of the comments received) whether the amount of the increase should be changed and shall publish its determination in the Federal Register.

(E)

(i) Except as provided in subparagraph (H), the additional premium determined under this subparagraph with respect to any plan for any plan year—

(I) shall be an amount equal to the amount determined under clause (ii) divided by the number of participants in such plan as of the close of the preceding plan year;

(II) in the case of plan years beginning in a calendar year after 2012 and before 2016, shall not exceed $400 ⁴ and

(III) in the case of plan years beginning in a calendar year after 2015, shall not exceed $500.

(ii) The amount determined under this clause for any plan year shall be an amount equal to the applicable dollar amount under paragraph (8) for each $1,000 (or fraction thereof) of unfunded vested benefits under the plan as of the close of the preceding plan year.

(iii) Except as provided in clause (v), for purposes of clause (ii), the term "unfunded vested benefits" means, for a plan year, the excess (if any) of—

(I) the funding target of the plan as determined under section 1083(d) of this title for the plan year by only taking into account vested benefits and by using the interest rate described in clause (iv), over

(II) the fair market value of plan assets for the plan year which are held by the plan on the valuation date.

(iv) The interest rate used in valuing benefits for purposes of subclause (I) of clause (iii) shall be equal to the first, second, or third segment rate for the month preceding the month in which the plan year begins, which would be determined under section 1083(h)(2)(C) of this title (notwithstanding any regulations issued by the corporation, determined by not taking into account any adjustment under clause (iv) thereof) if section 1083(h)(2)(D) of this title were applied by using the monthly yields for the month preceding the month in which the plan year begins on investment grade corporate bonds with varying maturities and in the top 3 quality levels rather than the average of such yields for a 24-month period.

(v) For purposes of clause (ii), in the case of a CSEC plan (as defined in section 1060(f)(1) of this title), the term "unfunded vested benefits" means, for plan years beginning after December 31, 2018, the excess (if any) of—

(I) the funding liability of the plan as determined under section 1085a(j)(5)(C) of this title for the plan year by only taking into account vested benefits, over

(II) the fair market value of plan assets for the plan year which are held by the plan on the valuation date.

(F) For each plan year beginning in a calendar year after 2006 and before 2013, there shall be substituted for the premium rate specified in clause (i) of subparagraph (A) an amount equal to the greater of—

(i) the product derived by multiplying the premium rate specified in clause (i) of subparagraph (A) by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2004 (2012 in the case of plan years beginning after calendar year 2014); and

(ii) the premium rate in effect under clause (i) of subparagraph (A) for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(G) For each plan year beginning in a calendar year after 2019, there shall be substituted for the premium rate specified in clause (i) of subparagraph (A) an amount equal to the greater of—

(i) the product derived by multiplying the premium rate specified in clause (i) of subparagraph (A) by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2017; and

(ii) the premium rate in effect under clause (i) of subparagraph (A) for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(H) For each plan year beginning in a calendar year after 2006, there shall be substituted for the premium rate specified in clause (iv) of subparagraph (A) an amount equal to the greater of—

(i) the product derived by multiplying the premium rate specified in clause (iv) of subparagraph (A) by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2004; and

(ii) the premium rate in effect under clause (iv) of subparagraph (A) for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(I)

(i) In the case of an employer who has 25 or fewer employees on the first day of the plan year, the additional premium determined under subparagraph (E) for each participant shall not exceed $5 multiplied by the number of participants in the plan as of the close of the preceding plan year.

(ii) For purposes of clause (i), whether an employer has 25 or fewer employees on the first day of the plan year is determined by taking into consideration all of the employees of all members of the contributing sponsor's controlled group. In the case of a plan maintained by two or more contributing sponsors, the employees of all contributing sponsors and their controlled groups shall be aggregated for purposes of determining whether the 25-or-fewer-employees limitation has been satisfied.

(J) For each plan year beginning in a calendar year after 2013, there shall be substituted for the premium rate specified in clause (v) of subparagraph (A) an amount equal to the greater of—

(i) the product derived by multiplying the premium rate specified in clause (v) of subparagraph (A) by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2011; and

(ii) the premium rate in effect under clause (v) of subparagraph (A) for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(K) For each plan year beginning in a calendar year after 2013 and before 2016, there shall be substituted for the dollar amount specified in subclause (II) of subparagraph (E)(i) an amount equal to the greater of—

(i) the product derived by multiplying such dollar amount by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2011; and

(ii) such dollar amount for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(L) For each plan year beginning in a calendar year after 2016, there shall be substituted for the dollar amount specified in subclause (III) of subparagraph (E)(i) an amount equal to the greater of—

(i) the product derived by multiplying such dollar amount by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2014; and

(ii) such dollar amount for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(M) For each plan year beginning in a calendar year after 2015, there shall be substituted for the dollar amount specified in clause (vi) of subparagraph (A) an amount equal to the greater of—

(i) the product derived by multiplying such dollar amount by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for 2013; and

(ii) such dollar amount for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(4) The corporation may prescribe, subject to the enactment of a joint resolution in accordance with this section or section 1322a(f) of this title, alternative schedules of premium rates, and bases for the application of those rates, for basic benefits guaranteed by it under sections 1322 and 1322a of this title based, in whole or in part, on the risks insured by the corporation in each plan.

(5)

(A) In carrying out its authority under paragraph (1) to establish schedules of premium rates, and bases for the application of those rates, for nonbasic benefits guaranteed under sections 1322 and 1322a of this title the premium rates charged by the corporation for any period for nonbasic benefits guaranteed shall—

(i) be uniform by category of nonbasic benefits guaranteed,

(ii) be based on the risks insured in each category, and

(iii) reflect the experience of the corporation (including experience which may be reasonably anticipated) in guaranteeing such benefits.

(B) Notwithstanding subparagraph (A), premium rates charged to any multiemployer plan by the corporation for any period for supplemental guarantees under section 1322a(g)(2) of this title may reflect any reasonable considerations which the corporation determines to be appropriate.

(6)

(A) In carrying out its authority under paragraph (1) to establish premium rates and bases for basic benefits guaranteed under section 1322 of this title with respect to single-employer plans, the corporation shall establish such rates and bases in coverage schedules in accordance with the provisions of this paragraph.

(B) The corporation may establish annual premiums for single-employer plans composed of the sum of—

(i) a charge based on a rate applicable to the excess, if any, of the present value of the basic benefits of the plan which are guaranteed over the value of the assets of the plan, not in excess of 0.1 percent, and

(ii) an additional charge based on a rate applicable to the present value of the basic benefits of the plan which are guaranteed.

The rate for the additional charge referred to in clause (ii) shall be set by the corporation for every year at a level which the corporation estimates will yield total revenue approximately equal to the total revenue to be derived by the corporation from the charges referred to in clause (i) of this subparagraph.

(i) the number of participants in a plan, but such premium rates shall not exceed the rates described in paragraph (3),

(ii) unfunded basic benefits guaranteed under this subchapter, but such premium rates shall not exceed the limitations applicable to charges referred to in subparagraph (B)(i), or

(iii) total guaranteed basic benefits, but such premium rates shall not exceed the rates for additional charges referred to in subparagraph (B)(ii).

If the corporation uses two or more of the rate bases described in this subparagraph, the premium rates shall be designed to produce approximately equal amounts of aggregate premium revenue from each of the rate bases used.

(D) For purposes of this paragraph, the corporation shall by regulation define the terms "value of assets" and "present value of the benefits ⁵ of the plan which are guaranteed" in a manner consistent with the purposes of this subchapter and the provisions of this section.

(7) Premium Rate for Certain Terminated Single-Employer Plans.—

(A) In general.—If there is a termination of a single-employer plan under clause (ii) or (iii) of section 1341(c)(2)(B) of this title or section 1342 of this title, there shall be payable to the corporation, with respect to each applicable 12-month period, a premium at a rate equal to $1,250 multiplied by the number of individuals who were participants in the plan immediately before the termination date. Such premium shall be in addition to any other premium under this section.

(B) Special rule for plans terminated in bankruptcy reorganization.—In the case of a single-employer plan terminated under section 1341(c)(2)(B)(ii) of this title or under section 1342 of this title during pendency of any bankruptcy reorganization proceeding under chapter 11 of title 11 or under any similar law of a State or a political subdivision of a State (or a case described in section 1341(c)(2)(B)(i) of this title filed by or against such person has been converted, as of such date, to such a case in which reorganization is sought), subparagraph (A) shall not apply to such plan until the date of the discharge or dismissal of such person in such case.

(i) In general.—The term "applicable 12-month period" means—

(I) the 12-month period beginning with the first month following the month in which the termination date occurs, and

(II) each of the first two 12-month periods immediately following the period described in subclause (I).

(ii) Plans terminated in bankruptcy reorganization.—In any case in which the requirements of subparagraph (B) are met in connection with the termination of the plan with respect to 1 or more persons described in such subparagraph, the 12-month period described in clause (i)(I) shall be the 12-month period beginning with the first month following the month which includes the earliest date as of which each such person is discharged or dismissed in the case described in such clause in connection with such person.

(D) Coordination with section 1307.—

(i) Notwithstanding section 1307 of this title—

(I) premiums under this paragraph shall be due within 30 days after the beginning of any applicable 12-month period, and

(II) the designated payor shall be the person who is the contributing sponsor as of immediately before the termination date.

(ii) The fifth sentence of section 1307(a) of this title shall not apply in connection with premiums determined under this paragraph.

(8) Applicable dollar amount for variable rate premium.—For purposes of paragraph (3)(E)(ii)—

(A) In general.—Except as provided in subparagraphs (B), (C), and (E), the applicable dollar amount shall be—

(i) $9 for plan years beginning in a calendar year before 2015;

(ii) for plan years beginning in calendar year 2015, the amount in effect for plan years beginning in 2014 (determined after application of subparagraph (C));

(iii) for plan years beginning after calendar year 2015, the amount in effect for plan years beginning in 2015 (determined after application of subparagraph (C));

(iv) for plan years beginning after calendar year 2016, the amount in effect for plan years beginning in 2016 (determined after application of subparagraph (C));

(v) for plan years beginning after calendar year 2017, the amount in effect for plan years beginning in 2017 (determined after application of subparagraph (C));

(vi) for plan years beginning after calendar year 2018, the amount in effect for plan years beginning in 2018 (determined after application of subparagraph (C)); and

(vii) for plan years beginning after calendar year 2019, the amount in effect for plan years beginning in 2019 (determined after application of subparagraph (C)).

(B) Adjustment for inflation.—For each plan year beginning in a calendar year after 2012, there shall be substituted for the applicable dollar amount specified under subparagraph (A) an amount equal to the greater of—

(i) the product derived by multiplying such applicable dollar amount for plan years beginning in that calendar year by the ratio of—

(I) the national average wage index (as defined in section 409(k)(1) of title 42) for the first of the 2 calendar years preceding the calendar year in which such plan year begins, to

(II) the national average wage index (as so defined) for the base year; and

(ii) such applicable dollar amount in effect for plan years beginning in the preceding calendar year.

If the amount determined under this subparagraph is not a multiple of $1, such product shall be rounded to the nearest multiple of $1.

(C) Additional increases.—The applicable dollar amount determined under subparagraph (A) (after the application of subparagraph (B)) shall be increased—

(i) in the case of plan years beginning in calendar year 2014, by $4;

(ii) in the case of plan years beginning in calendar year 2015, by $10;

(iii) in the case of plan years beginning in calendar year 2016, by $5;

(iv) in the case of plan years beginning in calendar year 2017, by $3;

(v) in the case of plan years beginning in calendar year 2018, by $4; and

(vi) in the case of plan years beginning in calendar year 2019, by $4.

(D) Base year.—For purposes of subparagraph (B), the base year is—

(i) 2010, in the case of plan years beginning in calendar year 2013 or 2014;

(ii) 2012, in the case of plan years beginning in calendar year 2015;

(iii) 2013, in the case of plan years beginning after calendar year 2015;

(iv) 2014, in the case of plan years beginning after calendar year 2016;

(v) 2015, in the case of plan years beginning after calendar year 2017;

(vi) 2016, in the case of plan years beginning after calendar year 2018; and

(vii) 2017, in the case of plan years beginning after calendar year 2019.

(E) CSEC plans.—In the case of a CSEC plan (as defined in section 1060(f)(1) of this title), the applicable dollar amount shall be $9.

(b) Revised schedule; Congressional procedures applicable

(1) In order to place a revised schedule (other than a schedule described in subsection (a)(2)(C), (D), or (E)) in effect, the corporation shall transmit the proposed schedule, its proposed effective date, and the reasons for its proposal 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) The succeeding paragraphs of this subsection are enacted by 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 resolutions described in paragraph (3). They 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.

(3) For the purpose of the succeeding paragraphs of this subsection, "resolution" means only a joint resolution, the matter after the resolving clause of which is as follows: "The proposed revised schedule transmitted to Congress by the Pension Benefit Guaranty Corporation on ____ is hereby approved.", the blank space therein being filled with the date on which the corporation's message proposing the rate was delivered.

(4) A resolution shall be referred 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.

(5) If a committee to which has been referred a resolution has not reported it before the expiration of 10 calendar days after its introduction, it shall then (but not before) be in order to move to discharge the committee from further consideration of that resolution, or to discharge the committee from further consideration of any other resolution with respect to the proposed adjustment which has been referred to the committee. The motion to discharge may be made only by a person favoring the resolution, shall be highly privileged (except that it may not be made after the committee has reported a resolution with respect to the same proposed rate), and debate thereon shall be limited to not more than 1 hour, to be divided equally between those favoring and those opposing the resolution. An amendment to the motion is not in order, and it is not in order to move to reconsider the vote by which the motion is agreed to or disagreed to. If the motion to discharge is agreed to or disagreed to, the motion may not be renewed, nor may another motion to discharge the committee be made with respect to any other resolution with respect to the same proposed rate.

(6) When a committee has reported, or has been discharged from further consideration of a resolution, it is at any time thereafter in order (even though a previous motion to the same effect has been disagreed to) to move to proceed to the consideration of the resolution. The motion is highly privileged and is not debatable. An amendment to the motion is not in order, and it is not in order to move to reconsider the vote by which the motion is agreed to or disagreed to. Debate on the resolution shall be limited to not more than 10 hours, which shall be divided equally between those favoring and those opposing the resolution. A motion further to limit debate is not debatable. An amendment to, or motion to recommit, the resolution is not in order, and it is not in order to move to reconsider the vote by which the resolution is agreed to or disagreed to.

(7) Motions to postpone, made with respect to the discharge from committee, or the consideration of, a resolution and motions to proceed to the consideration of other business shall be decided without debate. Appeals from the decisions of the Chair relating to the application of the rules of the Senate or the House of Representatives, as the case may be, to the procedure relating to a resolution shall be decided without debate.

(1) Except as provided in subsection (a)(3), and subject to paragraph (2), the rate for all plans for basic benefits guaranteed under this subchapter with respect to plan years ending after September 2, 1974, is—

(A) in the case of each plan which was not a multiemployer plan in a plan year—

(i) with respect to each plan year beginning before January 1, 1978, an amount equal to $1 for each individual who was a participant in such plan during the plan year,

(ii) with respect to each plan year beginning after December 31, 1977, and before January 1, 1986, an amount equal to $2.60 for each individual who was a participant in such plan during the plan year, and ⁶

(iii) with respect to each plan year beginning after December 31, 1985, and before January 1, 1988, an amount equal to $8.50 for each individual who was a participant in such plan during the plan year, and

(iv) with respect to each plan year beginning after December 31, 1987, and before January 1, 1991, an amount equal to $16 for each individual who was a participant in such plan during the plan year, and

(B) in the case of each plan which was a multiemployer plan in a plan year, an amount equal to 50 cents for each individual who was a participant in such plan during the plan year.

(2) The rate applicable under this subsection for the plan year preceding September 1, 1975, is the product of—

(A) the rate described in the preceding sentence; and

(B) a fraction—

(i) the numerator of which is the number of calendar months in the plan year which ends after September 2, 1974, and before the date on which the new plan year commences, and

(ii) the denominator of which is 12.

References in Text

The plan year within which the date of enactment of the Multiemployer Pension Plan Amendments Act of 1980 falls, referred to in subsec. (a)(3)(A)(ii), refers to the plan year within which the date of the enactment of Pub. L. 96–364 falls, such enactment being approved Sept. 26, 1980.

Amendments

2019—Subsec. (a)(3)(A)(i). Pub. L. 116–94, §206(a)(1), substituted "plan other than a CSEC plan (as defined in section 1060(f)(1) of this title)" for "plan," in introductory provisions.

Subsec. (a)(3)(A)(vii). Pub. L. 116–94, §206(a)(2)–(4), added cl. (vii).

Subsec. (a)(3)(E). Pub. L. 116–94, §206(b)(1)(B), substituted "Except as provided in clause (v), for purposes" for "For purposes" in introductory provisions.

Subsec. (a)(3)(E)(v). Pub. L. 116–94, §206(b)(1)(A), added cl. (v).

Subsec. (a)(8)(A). Pub. L. 116–94, §206(b)(2)(B), substituted "(B), (C), and (E)" for "(B) and (C)" in introductory provisions.

Subsec. (a)(8)(E). Pub. L. 116–94, §206(b)(2)(A), added subpar. (E).

2015—Subsec. (a)(3)(A)(i)(VI) to (VIII). Pub. L. 114–74, §501(a)(1), added subcls. (VI) to (VIII).

Subsec. (a)(3)(G). Pub. L. 114–74, §501(a)(2)(A), substituted "2019" for "2016" in introductory provisions.

Subsec. (a)(3)(G)(i)(II). Pub. L. 114–74, §501(a)(2)(B), substituted "2017" for "2014".

Subsec. (a)(8)(A)(v) to (vii). Pub. L. 114–74, §501(b)(2)(A), added cls. (v) to (vii).

Subsec. (a)(8)(C). Pub. L. 114–74, §501(b)(1)(A), substituted "increases" for "increase in 2014 and 2015" in heading.

Subsec. (a)(8)(C)(iv) to (vi). Pub. L. 114–74, §501(b)(1)(B)–(D), added cls. (iv) to (vi).

Subsec. (a)(8)(D)(v) to (vii). Pub. L. 114–74, §501(b)(2)(B), added cls. (v) to (vii).

2014—Subsec. (a)(3)(A)(v), (vi). Pub. L. 113–235, §131(a)(1), inserted "and before January 1, 2015," after "December 31, 2012," in cl. (v) and added cl. (vi).

Subsec. (a)(3)(M). Pub. L. 113–235, §131(a)(2), added subpar. (M).

2013—Subsec. (a)(3)(A)(i)(III). Pub. L. 113–67, §703(a)(2), inserted "and before January 1, 2015," after "December 31, 2013".

Subsec. (a)(3)(A)(i)(IV), (V). Pub. L. 113–67, §703(a)(1), (3), added subcls. (IV) and (V).

Subsec. (a)(3)(E)(i)(I). Pub. L. 113–67, §703(d)(1)(A), struck out "and" at end.

Subsec. (a)(3)(E)(i)(II). Pub. L. 113–67, §703(d)(1)(B), inserted "and before 2016" after "2012" and substituted "and" for period at end.

Subsec. (a)(3)(E)(i)(III). Pub. L. 113–67, §703(d)(1)(C), added subcl. (III).

Subsec. (a)(3)(F). Pub. L. 113–67, §703(b)(2), inserted "and before 2013" after "after 2006" in introductory provisions and struck out "This subparagraph shall not apply to plan years beginning in 2013 or 2014." at end of concluding provisions.

Subsec. (a)(3)(G). Pub. L. 113–67, §703(b)(1)(B), added subpar. (G). Former subpar. (G) redesignated (H).

Subsec. (a)(3)(H) to (J). Pub. L. 113–67, §703(b)(1)(A), redesignated subpars. (G) to (I) as (H) to (J), respectively. Former subpar. (J) redesignated (K).

Subsec. (a)(3)(K). Pub. L. 113–67, §703(d)(2)(A), inserted "and before 2016" after "2013" in introductory provisions.

Pub. L. 113–67, §703(b)(1)(A), redesignated subpar. (J) as (K).

Subsec. (a)(3)(L). Pub. L. 113–67, §703(d)(2)(B), added subpar. (L).

Subsec. (a)(8)(A)(iv). Pub. L. 113–67, §703(c)(2)(A), added cl. (iv).

Subsec. (a)(8)(C)(ii). Pub. L. 113–67, §703(c)(1)(B), substituted "$10" for "$5".

Subsec. (a)(8)(C)(iii). Pub. L. 113–67, §703(c)(1), added cl. (iii).

Subsec. (a)(8)(D)(iv). Pub. L. 113–67, §703(c)(2)(B), added cl. (iv).

2012—Subsec. (a)(3)(A)(i). Pub. L. 112–141, §40221(a)(1), amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: "in the case of a single-employer plan, for plan years beginning after December 31, 2005, an amount equal to the sum of $30 plus the additional premium (if any) determined under subparagraph (E) for each individual who is a participant in such plan during the plan year;".

Subsec. (a)(3)(A)(iv). Pub. L. 112–141, §40222(a)(1), inserted "and before January 1, 2013," after "December 31, 2005,".

Subsec. (a)(3)(A)(v). Pub. L. 112–141, §40222(a)(2)–(4), added cl. (v).

Subsec. (a)(3)(E)(i). Pub. L. 112–141, §40221(b)(3)(A), substituted "for any plan year—" for "for any plan year shall be an amount equal to the amount determined under clause (ii) divided by the number of participants in such plan as of the close of the preceding plan year." and added subcls. (I) and (II).

Subsec. (a)(3)(E)(ii). Pub. L. 112–141, §40221(b)(1), substituted "the applicable dollar amount under paragraph (8)" for "$9.00".

Subsec. (a)(3)(E)(iv). Pub. L. 112–141, §40211(b)(3)(C), substituted "section 1083(h)(2)(C) of this title (notwithstanding any regulations issued by the corporation, determined by not taking into account any adjustment under clause (iv) thereof)" for "section 1083(h)(2)(C) of this title".

Subsec. (a)(3)(F). Pub. L. 112–141, §40221(a)(2)(B), added at end of concluding provisions "This subparagraph shall not apply to plan years beginning in 2013 or 2014."

Subsec. (a)(3)(F)(i)(II). Pub. L. 112–141, §40221(a)(2)(A), inserted "(2012 in the case of plan years beginning after calendar year 2014)" after "2004".

Subsec. (a)(3)(I). Pub. L. 112–141, §40222(b), added subpar. (I).

Subsec. (a)(3)(J). Pub. L. 112–141, §40221(b)(3)(B), added subpar. (J).

Subsec. (a)(8). Pub. L. 112–141, §40221(b)(2), added par. (8).

2008—Subsec. (a)(3)(A)(i). Pub. L. 110–458 substituted "2005" for "1990".

2006—Subsec. (a)(3)(A)(i). Pub. L. 109–171, §8101(a)(1)(A), substituted "$30" for "$19".

Subsec. (a)(3)(A)(iii). Pub. L. 109–171, §8101(a)(2)(A)(i)(I), inserted "and before January 1, 2006," after "September 26, 1980," in introductory provisions.

Subsec. (a)(3)(A)(iv). Pub. L. 109–171, §8101(a)(2)(A)(i)(II), (ii), added cl. (iv).

Subsec. (a)(3)(B). Pub. L. 109–171, §8101(c), substituted "clause (iii) or (iv) of subparagraph (A)" for "subparagraph (A)(iii)".

Subsec. (a)(3)(E)(i). Pub. L. 109–280, §405(a)(1), substituted "Except as provided in subparagraph (H), the additional" for "The additional".

Subsec. (a)(3)(E)(iii). Pub. L. 109–280, §401(a)(1), added cl. (iii) and struck out former cl. (iii), which defined "unfunded vested benefits" for purposes of clause (ii) and set forth provisions relating to the interest rate used in valuing vested benefits, the value of the plan's assets in the case of any plan year for which the applicable percentage is 100 percent, the applicable percentage in the case of plan years beginning after Dec. 31, 2001, and before Jan. 1, 2004, and the annual yield taken into account in the case of plan years beginning after Dec. 31, 2003, and before Jan. 1, 2008.

Subsec. (a)(3)(E)(iii)(V). Pub. L. 109–280, §301(a)(3), substituted "2008" for "2006".

Subsec. (a)(3)(E)(iv). Pub. L. 109–280, §401(a)(1), added cl. (iv) and struck out former cl. (iv) which read as follows: "No premium shall be determined under this subparagraph for any plan year if, as of the close of the preceding plan year, contributions to the plan for the preceding plan year were not less than the full funding limitation for the preceding plan year under section 412(c)(7) of title 26."

Subsec. (a)(3)(F). Pub. L. 109–171, §8101(a)(1)(B), added subpar. (F).

Subsec. (a)(3)(G). Pub. L. 109–171, §8101(a)(2)(B), added subpar. (G).

Subsec. (a)(3)(H). Pub. L. 109–280, §405(a)(2), added subpar. (H).

Subsec. (a)(7). Pub. L. 109–171, §8101(b), added par. (7).

Subsec. (a)(7)(C)(ii). Pub. L. 109–280, §401(b)(2)(A), substituted "subparagraph (B)" for "subparagraph (B)(i)(I)".

Subsec. (a)(7)(E). Pub. L. 109–280, §401(b)(1), struck out heading and text of subpar. (E). Text read as follows: "Subparagraph (A) shall not apply with respect to any plan terminated after December 31, 2010."

2004–Subsec. (a)(3)(E)(iii)(IV). Pub. L. 108–311, in last sentence, inserted "or this subparagraph" after "this clause" in two places and inserted "(other than sections 1305, 1310, 1311, and 1343 of this title)" after "subsections".

Subsec. (a)(3)(E)(iii)(V). Pub. L. 108–218 added subcl. (V).

2002—Subsec. (a)(3)(E)(iii)(IV). Pub. L. 107–147 added subcl. (IV).

1994—Subsec. (a)(3)(E)(iii). Pub. L. 103–465, §774(b)(1), (2), in subcl. (I), inserted "or (III)" after "subclause (II)", in subcl. (II), substituted "equal to the applicable percentage" for "equal to 80 percent" and inserted at end "For purposes of this subclause, the applicable percentage is 80 percent for plan years beginning before July 1, 1997, 85 percent for plan years beginning after June 30, 1997, and before the 1st plan year to which the first tables prescribed under section 1082(d)(7)(C)(ii)(II) of this title apply, and 100 percent for such 1st plan year and subsequent plan years.", and added subcl. (III).

Subsec. (a)(3)(E)(iv), (v). Pub. L. 103–465, §774(a)(1), redesignated cl. (v) as (iv) and struck out former cl. (iv) which read as follows:

"(iv)(I) Except as provided in this clause, the aggregate increase in the premium payable with respect to any participant by reason of this subparagraph shall not exceed $53.

"(II) If an employer made contributions to a plan during 1 or more of the 5 plan years preceding the 1st plan year to which this subparagraph applies in an amount not less than the maximum amount allowable as a deduction with respect to such contributions under section 404 of title 26, the dollar amount in effect under subclause (I) for the 1st 5 plan years to which this subparagraph applies shall be reduced by $3 for each plan year for which such contributions were made in such amount."

1990—Subsec. (a)(3)(A)(i). Pub. L. 101–508, §12021(a)(1), substituted "for plan years beginning after December 31, 1990, an amount equal to the sum of $19" for "for plan years beginning after December 31, 1987, an amount equal to the sum of $16".

Subsec. (a)(3)(E)(ii). Pub. L. 101–508, §12021(b)(1), substituted "$9.00" for "$6.00".

Subsec. (a)(3)(E)(iv)(I). Pub. L. 101–508, §12021(b)(2), substituted "$53" for "$34".

Subsec. (c)(1)(A)(iv). Pub. L. 101–508, §12021(a)(2), added cl. (iv).

1989—Subsec. (a)(3)(E)(v). Pub. L. 101–239, §7881(h)(1), added cl. (v).

Subsec. (c)(1)(A)(iii). Pub. L. 101–239, §7881(h)(2), realigned margin.

1987—Subsec. (a)(3)(A)(i). Pub. L. 100–203, §9331(a), substituted "for plan years beginning after December 31, 1987, an amount equal to the sum of $16 plus the additional premium (if any) determined under subparagraph (E)" for "for plan years beginning after December 31, 1985, an amount equal to $8.50".

Subsec. (a)(3)(E). Pub. L. 100–203, §9331(b), added subpar. (E).

Subsec. (c)(1)(A). Pub. L. 100–203, §9331(e), struck out "and" at end of cl. (i), inserted "and before January 1, 1986," in cl. (ii), and added cl. (iii).

1986—Subsec. (a)(1). Pub. L. 99–272, §11005(b)(1), struck out provision that in establishing annual premiums with respect to plans, other than multiemployer plans, pars. (5) and (6) of this subsection, as in effect before Sept. 26, 1980, would continue to apply.

Subsec. (a)(2). Pub. L. 99–272, §11005(c)(1), substituted "a joint resolution approving such revised schedule is enacted" for "the Congress approves such revised schedule by a concurrent resolution".

Subsec. (a)(3)(A)(i). Pub. L. 99–272, §11005(a)(1), substituted "December 31, 1985, an amount equal to $8.50" for "December 31, 1977, an amount equal to $2.60".

Subsec. (a)(4). Pub. L. 99–272, §11005(c)(2), substituted "the enactment of a joint resolution" for "approval by the Congress".

Subsec. (a)(6). Pub. L. 99–272, §11005(b)(2), added par. (6).

Subsec. (b)(3). Pub. L. 99–272, §11005(c)(3), substituted "joint" for "concurrent" and "The" for "That the Congress favors the" and inserted "is hereby approved".

Subsec. (c)(1)(A). Pub. L. 99–272, §11005(a)(2), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "in the case of each plan which was not a multiemployer plan in a plan year, an amount equal to $1 for each individual who was a participant in such plan during the plan year, and".

1980—Subsec. (a). Pub. L. 96–364, §105(a), substituted provisions setting forth authority of corporation to prescribe schedules of premium rates and bases for the application of such rates and provisions respecting contents, coverages, alternate schedules, etc., of schedules and application bases, for provisions setting forth authority of corporation to prescribe insurance premium rates and coverage schedules for the application of such rates and provisions respecting contents, coverages, rates, etc., of schedules and premium rates.

Subsec. (b). Pub. L. 96–364, §105(b), in par. (1) substituted "(C), (D), or (E)" for "(B) or (C)", "revised schedule" for "revised coverage schedule", and "Human Resources" for "Public Welfare", in par. (3) substituted "revised schedule" for "revised coverage schedule", and in par. (4) substituted "Human Resources" for "Public Welfare".

Subsec. (c). Pub. L. 96–364, §105(c), added subsec. (c).

Change of Name

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, Jan. 19, 1999.

Effective Date of 2015 Amendment

Pub. L. 114–74, title V, §501(b)(3), Nov. 2, 2015, 129 Stat. 593, provided that: "The amendments made by this section [amending this section] shall apply to plan years beginning after December 31, 2016."

Effective Date of 2014 Amendment

Pub. L. 113–235, div. O, title I, §131(d), Dec. 16, 2014, 128 Stat. 2798, provided that: "The amendments made by subsection (a) [amending this section] shall apply with respect to plan years beginning after December 31, 2014."

Effective Date of 2013 Amendment

Pub. L. 113–67, div. A, title VII, §703(e), Dec. 26, 2013, 127 Stat. 1192, provided that: "The amendments made by this section [amending this section] shall apply to plan years beginning after December 31, 2013."

Effective Date of 2012 Amendment

Amendment by section 40211(b)(3)(C) of Pub. L. 112–141 applicable with respect to plan years beginning after Dec. 31, 2011, except as otherwise provided, see section 40211(c) of Pub. L. 112–141, set out as a note under section 404 of Title 26, Internal Revenue Code.

Effective Date of 2008 Amendment

Amendment by Pub. L. 110–458 effective as if included in the provisions of Pub. L. 109–280 to which the amendment relates, except as otherwise provided, see section 112 of Pub. L. 110–458, set out as a note under section 72 of Title 26, Internal Revenue Code.

Effective Date of 2006 Amendment

Pub. L. 109–280, title IV, §401(a)(2), Aug. 17, 2006, 120 Stat. 922, provided that: "The amendments made by paragraph (1) [amending this section] shall apply with respect to plan years beginning after 2007."

Pub. L. 109–280, title IV, §401(b)(2)(B), Aug. 17, 2006, 120 Stat. 922, provided that: "The amendment made by this paragraph [amending this section] shall take effect as if included in the provision of the Deficit Reduction Act of 2005 [Pub. L. 109–171] to which it relates."

Pub. L. 109–280, title IV, §405(b), Aug. 17, 2006, 120 Stat. 929, provided that: "The amendment made by this section [amending this section] shall apply to plan years beginning after December 31, 2006."

Pub. L. 109–171, title VIII, §8101(d), Feb. 8, 2006, 120 Stat. 182, provided that:

"(1) In general.—Except as otherwise provided in this subsection, the amendments made by this section [amending this section] shall apply to plan years beginning after December 31, 2005.

"(2) Premium rate for certain terminated single-employer plans.—

"(A) In general.—Except as provided in subparagraph (B), the amendment made by subsection (b) [amending this section] shall apply to plans terminated after December 31, 2005.

"(B) Special rule for plans terminated in bankruptcy.—The amendment made by subsection (b) shall not apply to a termination of a single-employer plan that is terminated during the pendency of any bankruptcy reorganization proceeding under chapter 11 of title 11, United States Code (or under any similar law of a State or political subdivision of a State), if the proceeding is pursuant to a bankruptcy filing occurring before October 18, 2005."

Effective Date of 2004 Amendments

Amendment by Pub. L. 108–311 effective as if included in the provisions of the Job Creation and Worker Assistance Act of 2002, Pub. L. 107–147, to which such amendment relates, see section 403(f) of Pub. L. 108–311, set out as a note under section 56 of Title 26, Internal Revenue Code.

Amendment by Pub. L. 108–218 applicable, except as otherwise provided, to plan years beginning after Dec. 31, 2003, see section 101(d) of Pub. L. 108–218, set out as a note under section 404 of Title 26, Internal Revenue Code.

Effective Date of 1994 Amendment

Pub. L. 103–465, title VII, §774(a)(2), Dec. 8, 1994, 108 Stat. 5045, provided that:

"(A) In general.—The amendments made by this subsection [amending this section] shall be effective for plan years beginning on or after July 1, 1994.

"(B) Transition rule.—In the case of plan years beginning on or after July 1, 1994, and before July 1, 1996, the additional premium payable with respect to any participant by reason of the amendments made by this section shall not exceed the sum of—

"(i) $53, and

"(ii) the product derived by multiplying—

"(I) the excess (if any) of the amount determined under clause (i) of section 4006(a)(3)(E) of the Employee Retirement Income Security Act of 1974 [subsec. (a)(3)(E) of this section], over $53, by

"(II) the applicable percentage.

For purposes of this subparagraph, the applicable percentage shall be the percentage specified in the following table:

Open Table


For the plan year beginning:		The applicable percentage is:
on or after	but before	The applicable percentage is:
July 1, 1994	July 1, 1995	20 percent
July 1, 1995	July 1, 1996	60 percent."

Pub. L. 103–465, title VII, §774(b)(3), Dec. 8, 1994, 108 Stat. 5046, provided that: "The amendments made by this subsection [amending this section] shall apply to plan years beginning after the date of the enactment of this Act [Dec. 8, 1994].

Effective Date of 1990 Amendment

Pub. L. 101–508, title XII, §12021(c), Nov. 5, 1990, 104 Stat. 1388–573, provided that: "The amendments made by this section [amending this section] shall apply to plan years beginning after December 31, 1990."

Effective Date of 1989 Amendment

Amendment by Pub. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Pension Protection Act, Pub. L. 100–203, §§9302–9346, to which such amendment relates, see section 7882 of Pub. L. 101–239, set out as a note under section 401 of Title 26, Internal Revenue Code.

Effective Date of 1987 Amendment

Amendment by Pub. L. 100–203 applicable to plan years beginning after Dec. 31, 1987, see section 9331(f)(1) of Pub. L. 100–203, set out as a note under section 1305 of this title.

Effective Date of 1986 Amendment

Pub. L. 99–272, title XI, §11005(d), Apr. 7, 1986, 100 Stat. 242, provided that:

"(1) General rule.—Except as provided in paragraph (2), the amendments made by this section [amending this section and section 1322a of this title] shall be effective for plan years commencing after December 31, 1985.

"(2) Special rule.—The amendments made by subsection (b) [amending this section] shall be effective as of the date of the enactment of the Multiemployer Pension Plan Amendments Act of 1980 [Sept. 26, 1980]."

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–364 effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title.

Modification of Transition Rule to Pension Funding Requirements

For modification of transition rule to pension funding requirements in the case of a plan that was not required to pay a variable rate premium for the plan year beginning in 1996, has not, in any plan year beginning after 1995, merged with another plan (other than a plan sponsored by an employer that was in 1996 within the controlled group of the plan sponsor), and is sponsored by a company that is engaged primarily in the interurban or interstate passenger bus service, see section 115(a)–(c) of Pub. L. 109–280, set out as a note under section 430 of Title 26, Internal Revenue Code.

Applicability of This Section to Certain Plans Maintained by Commercial Airlines

For special rules on applicability of this section to certain plans maintained by commercial airlines, see section 402 of Pub. L. 109–280, set out as a note under section 430 of Title 26, Internal Revenue Code.

Transitional Rule

Pub. L. 103–465, title VII, §774(c), Dec. 8, 1994, 108 Stat. 5046, provided that: "In the case of a regulated public utility described in section 7701(a)(33)(A)(i) of the Internal Revenue Code of 1986 [26 U.S.C. 7701(a)(33)(A)(i)], the amendments made by this section [amending this section] shall not apply to plan years beginning before the earlier of—

"(1) January 1, 1998, or

"(2) the date the regulated public utility begins to collect from utility customers rates that reflect the costs incurred or projected to be incurred for additional premiums under section 4006(a)(3)(E) of the Employee Retirement Income Security Act of 1974 [subsec. (a)(3)(E) of this section] pursuant to final and nonappealable determinations by all public utility commissions (or other authorities having jurisdiction over the rates and terms of service by the regulated public utility) that the costs are just and reasonable and recoverable from customers of the regulated public utility."

Pub. L. 99–272, title XI, §11005(e), Apr. 7, 1986, 100 Stat. 243, provided that:

"(1) Notice of premium increase.—Not later than 30 days after the date of the enactment of this Act [Apr. 7, 1986], the Pension Benefit Guaranty Corporation shall send a notice to the plan administrator of each single-employer plan affected by the premium increase established by the amendment made by subsection (a)(1) [amending this section]. Such notice shall describe such increase and the requirements of this subsection.

"(2) Due date for unpaid premiums.—With respect to any plan year beginning during the period beginning on January 1, 1986, and ending 30 days after the date of the enactment of this Act, any unpaid amount of such premium increase shall be due and payable no later than the earlier of 60 days after the date of the enactment of this Act or 30 days after the date on which the notice required by paragraph (1) is sent, except that in no event shall the amount of the premium increase established under the amendment made by subsection (a)(1) be due and payable for a plan year earlier than the date on which premiums for the plan would have been due for such plan year had this Act [probably means the Single-Employee Pension Plan Amendments Act of 1986, title XI of Pub. L. 99–272, see Short Title of 1986 Amendment note set out under section 1001 of this title] not been enacted.

"(3) Enforcement.—For purposes of enforcement, the requirements of paragraphs (1) and (2) shall be considered to be requirements of sections 4006 and 4007 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1306 and 1307)."

Single-Employer Pension Plan Termination Insurance Premium Study

Pub. L. 99–272, title XI, §11017(a), Apr. 7, 1986, 100 Stat. 276, directed Pension Benefit Guaranty Corporation to conduct a study of, and submit to an advisory council not later than one year after Apr. 7, 1986, a report on the premiums established under the single-employer pension plan termination insurance program under this subchapter, including (1) the long-term stability of the program, (2) alternatives with respect to proposals for changes in the premium levels under such program, (3) methods currently used in projecting future costs, (4) alternative methods of projecting such future costs, (5) methods currently used in determining premiums needed to allocate and adequately fund such future costs, along with any alternative methods of making such premium determinations, and (6) alternative premium bases upon which some or all of such projected future costs would be allocated on an exposure-related or risk-related computation; and further provided for submission of the advisory council's report to Congress 180 days after submission of the Corporation's report to the advisory council, as well as the cooperation and consultation with other Federal agencies in compilation of reports.

Studies and Reports Respecting Graduated Premium Rate Schedules and Union Mandated Withdrawals From Multiemployer Pension Plans

Pub. L. 96–364, title IV, §412(a), Sept. 26, 1980, 94 Stat. 1309, directed Pension Benefit Guaranty Corporation to conduct a separate study with respect to advantages and disadvantages of establishing a graduated premium rate schedule under this section which is based on risk, and necessity of adopting special rules in cases of union-mandated withdrawal from multiemployer pension plans, and to report to Congress the results of the studies conducted, including its recommendations with respect thereto.

1 So in original. 2 So in original. The period probably should be a semicolon. 3 So in original. The period probably should be a comma. 4 So in original. Probably should be followed by a semicolon. 5 So in original. Probably should be preceded by "basic". 6 So in original. The word "and" probably should not appear.

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