Oversight on ERISA, 1978: Hearings Before the Subcommittee on Labor Standards of the Committee on Education and Labor, House of Representatives, Ninety-fifth Congress, Second Session, on Public Law 93-406, the Employee Retirement Income Security Act of 1974 ... May 17 and June 1, 1978

United States. Congress. House. Committee on Education and Labor. Subcommittee on Labor Standards

U.S. Government Printing Office, 1978 - Government publications - 1306 pages

Preview this book »

From inside the book

Selected pages

TABLE OF CONTENTS Sec 1 Short title and table of contents TITLE IPROTECTION OF EMPLOYEE BENEFIT RIGHTS Subtitle AGeneral Provis...	5

Definitions	6

Coverage	12

Subtitle BRegulatory Provisions PART 1REPORTING AND DISCLOSURE Sec 101 Duty of disclosure and reporting	13

Plan description and summary plan description Sec 103 Annual reports	14

Filing with Secretary and furnishing information to participants	20

Reporting of participants benefit rights	22

Reports made public information Sec 107 Retention of records Sec 108 Reliance on administrative interpretations Sec 109 Forms	23

Retroactive changes in plan Sec 1024 Effective dates PART 3REGISTRATION AND INFORMATION Sec 1031 Registration and information	116

Duties of Secretary of Health Education and Welfare Sec 1033 Reports by actuaries	120

Effective dates	121

PART 4DECLARATORY JUDGMENTS RELATING TO QUALIFICATION OF CERTAIN RETIREMENT PLANS Sec 1041 Tax Court procedure	122

PART 5INTERNAL REVENUE SERVICE Sec 1051 Establishment of Office	124

Authorization of appropriations	125

Deduction for retirement savings	131

Prohibited transactions	144

Alternative methods of compliance Sec 111 Repeal and effective date	24

PART 2PARTICIPATION AND VESTING Sec 201 Coverage	25

Minimum participation standards	26

Minimum vesting standards	27

Benefit accrual requirements	31

Joint and survivor annuity requirement	35

Other provisions relating to form and payment of benefits	37

Temporary variances from certain vesting requirements Sec 208 Mergers and consolidations of plans or transfers of plan assets Sec 209 Recordkeepi...	38

Plans maintained by more than one employer predecessor plans and employer groups	39

Effective dates	40

PART 3FUNDING Sec 301 Coverage	41

Minimum funding standards	42

Variance from minimum funding standară Sec 304 Extension of amortization periods Sec 305 Alternative minimum funding standard	46

Effective dates PART 4FIDUCIARY RESPONSIBILITY Sec 401 Coverage	47

Establishment of plan	48

Establishment of trust	49

Fiduciary duties	50

Liability for breach by cofiduciary	51

Prohibited transactions	52

10 percent limitation with respect to acquisition and holding of employer securities and employer real operty by certain plans	53

Exemptions from prohibited transactions	56

Liability for breach of fiduciary duty Sec 410 Exculpatory provisions insurance	59

Prohibition against certain persons holding certain positions	60

Bonding	61

Limitation on actions Sec 414 Effective date	62

ADMINISTRATION AND ENFORCEMENT Sec 501 Criminal penalties Sec 502 Civil enforcement	64

Claims procedure Sec 504 Investigative authority Sec 505 Regulations	66

Other agencies and departments Sec 507 Administration	67

Appropriations Sec 509 Separability provisions Sec 510 Interference with rights protected under Act Sec 511 Coercive interference Sec 512 Advisor...	68

Research studies and annual report	69

Effect on other laws	70

TITLE IIAMENDMENTS TO THE INTERNAL REVENUE CODE RELATING TO RETIREMENT PLANS Sec 1001 Amendment of Internal Reven...	71

Minimum vesting standards	74

Minimum funding standards	87

Collectively bargained plans	97

Definitions and special rules	98

Conforming and clerical amendments	102

Effective dates and transitional rules	105

PART 2CERTAIN OTHER PROVISIONS RELATING TO QUALIFIED RETIREMENT PLANS Sec 1021 Additional plan requirements	108

Miscellaneous provisions	111

Limitations on benefits and contributions	152

Taxation of certain lump sum distributions	160

Salary reduction regulations	165

Rules for certain negotiated plans Sec 2008 Certain armed forces survivor annuities	166

TITLE IIIJURISDICTION ADMINISTRATION ENFORCEMENT JOINT PENSION TASK FORCE ETC Subtitle AJurisdiction Administration and E...	168

Procedures with respect to continued compliance with requirements relating to participation vesting and funding standards	169

Procedures in connection with prohibited transactions	171

Subtitle BJoint Pension Task Force Studies PART 1JOINT PENSION TASK FORCE Sec 3021 Establishment Sec 3022 Duties PART 2OTHER STUDI...	172

Protection for employees under Federal procurement construction and research contracts and grants	173

Subtitle CEnrollment of Actuaries Sec 3041 Establishment of Joint Board for the enrollment of actuaries Sec 3042 Enrollment by Joint Board	175

Amendment of Internal Revenue Code TITLE IVPLAN TERMINATION INSURANCE Subtitle APension Benefit Guaranty Corporation Sec 4001 D...	176

Investigatory authority cooperation with other agencies civil actions	179

Temporary authority for initial period	181

Establishment of pension benefit guaranty funds	182

Premium rates	183

Payment of premiums	186

Report by the corporation Sec 4009 Portability assistance Subtitle BCoverage Sec 4021 Plans covered	187

Benefits guaranteed	189

Contingent liability coverage	192

I	784

DISCENTIVES IN ERISA FOR SMALL PLANS	790

FEAR AND UNCERTAINTY CREATED BY ERISA	796

IV	807

24	886

Allocation of employer contributions to appropriate years	965

Appendix	984

FINDINGS AND DECLARATION OF POLICY	1074

RECOGNITION OF SMALL PLANS	1077

REPORTING AND DISCLOSURE	1078

JURISDICTION	1083

ADMINISTRATIVE PROCEDURES	1089

INCENTIVES FOR PLAN FORMATION AND IMPROVEMENT	1090

INDIVIDUAL RETIREMENT ACCOUNTS	1091

LIMITED EMPLOYEE RETIREMENT ACCOUNTS	1092

NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENTS	1093

FIDUCIARY RESPONSIBILITY AND PROHIBITED TRANSACTIONS	1094

INTEGRATION OF PRIVATE PLANS WITH SOCIAL SECURITY	1095

TECHNICAL AMENDMENTS	1096

Copyright

Other editions - View all

Oversight on ERISA, 1978: Hearings Before the Subcommittee on Labor ...
United States. Congress. House. Committee on Education and Labor. Subcommittee on Labor Standards
Full view - 1978

Common terms and phrases

88 STAT accrued benefit derived amount annuity apply break in service compensation conference substitute contract corporation court coverage December 31 defined benefit plan defined contribution plan derived from employer described in section determined disclosure distribution election employee benefit plan employee's employer contributions employer securities enrolled actuary ERISA ERLENBORN exemption Federal filed funding standard account individual retirement account inserting in lieu Internal Revenue Code Internal Revenue Service investment liability lieu thereof ment minimum funding standard multiemployer plan nonforfeitable normal retirement age paragraph participants and beneficiaries payment PBGC Pension Benefit pension plan percent period person plan administrator plan assets plan description plan participants plan termination preemption premiums prohibited transaction purposes qualified plan regulations prescribed relating respect retirement plans rules satisfies the requirements Secretary of Labor section 401 September Social Security subparagraph subsection taxable term tion Treasury trust vesting welfare benefit plans

Bibliographic information

Title	Oversight on ERISA, 1978: Hearings Before the Subcommittee on Labor Standards of the Committee on Education and Labor, House of Representatives, Ninety-fifth Congress, Second Session, on Public Law 93-406, the Employee Retirement Income Security Act of 1974 ... May 17 and June 1, 1978 Volume 101, Part 2 of House Hearings 95th cong, United States. Congress
Author	United States. Congress. House. Committee on Education and Labor. Subcommittee on Labor Standards
Publisher	U.S. Government Printing Office, 1978
Original from	Purdue University
Digitized	31 Aug 2011
Length	1306 pages

Export Citation	BiBTeX EndNote RefMan

About Google Books - Privacy Policy - Terms of Service - Information for Publishers - Report an issue - Help - Google Home

Books

Oversight on ERISA, 1978: Hearings Before the Subcommittee on Labor Standards of the Committee on Education and Labor, House of Representatives, Ninety-fifth Congress, Second Session, on Public Law 93-406, the Employee Retirement Income Security Act of 1974 ... May 17 and June 1, 1978

From inside the book

Selected pages

Contents

Other editions - View all

Common terms and phrases

Bibliographic information