PUBLIC LAW 96-364—SEPT. 26, 1980
94 STAT. 1289
after its termination date under title IV of the Employee Retirement Income Security Act of 1974 if the plan was a multiem- 29 USC 1301. ployer plan under this subsection for the plan year preceding its termination date. "(4) TRANSITIONAL RULE.—For any plan year which began "Multiemployer before the date of the enactment of the Multiemployer Pension plan." Plan Amendments Act of 1980, the term 'multiemployer plan' Ante, p. 1208. means a plan described in this subsection as in effect immediately before that date. "(5) SPECIAL ELECTION.—Within one year after the date of the enactment of the Multiemployer Pension Plan Amendments Act of 1980, a multiemployer plan may irrevocably elect, pursuant to procedures established by the Pension Benefit Guaranty Corporation and subject to the provisions of section 4403 Qa) and (c) of the Employee Retirement Income Security Act of 1974, that the plan shall not be treated as a multiemployer plan for any purpose under such Act or this title, if for each of the last 3 plan years ending prior to the effective date of the Multiemployer Pension Plan Amendments Act of 1980— "(A) the plan was not a multiemployer plan because the plan was not a plan described in section 3(37)(A)(iii) of the Employee Retirement Income Security Act of 1974 and Post, p. 1291. section 414(f)(1)(C) (as such provisions were in effect on the day before the date of the enactment of the Multiemployer Pension Plan Amendments Act of 1980); and "(B) the plan had been identified as a plan that was not a multiemployer plan in substantially all its filings with the Pension Benefit Guaranty Corporation, the Secretary of Labor and the Secretary.". SEC. 208. RELATED TECHNICAL AMENDMENTS.
(a) Sections 401(a)(12) and 414(1) are each amended by striking out the last sentence and inserting in lieu thereof the following: "The preceding sentence does not apply to any multiemployer plan with respect to any transaction to the extent that participants either before or after the transaction are covered under a multiemployer plan to which title IV of the Employee Retirement Income Security Act of 1974 applies." 0^) Subsection (d) of section 4975 is amended— (1) by striking out "or" at the end of paragraph (12); (2) by striking out the period at the end of paragraph (13) and inserting in lieu thereof a semicolon; and (3) by inserting after paragraph (13) the following new paragraphs: "(14) any transaction required or permitted under part 1 of subtitle E of title IV or section 4223 of the Employee Retirement Income Security Act of 1974, but this paragraph shall not apply with respect to the application of subsection (c)(1)(E) or (F); or "(15) a merger of multiemployer plans, or the transfer of assets or liabilities between multiemployer plans, determined by the Pension Benefit Guaranty Corporation to meet the requirements of section 4231 of such Act, but this paragraph shall not apply with respect to the application of subsection (c)(1)(E) or (F).. (c) Section 412(a) is amended by adding at the end thereof the following new sentence: "In any plan year in which a multiemployer plan is in reorganization, the accumulated funding deficiency of the plan shall be determined under section 418B.".
26 USC 401, 414.
29 USC 1301. 26 USC 4975.
Ante, pp. 1217, 1241.
Ante, p. 1244. 26 USC 412.
Ante, p. 1274.
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