Multiemployer Pension Plan Equity Act of 1982

Summary

Multiemployer Pension Plan Equity Act of 1982 - Title I: Amendments to the Employee Retirement Income Security Act of 1974 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to add special funding rules for multiemployer plans. Revises provisions relating to risk-related premiums. Requires that a single standard premium rate be prescribed for all multiemployer plans, with specified exceptions. Revises provisions for an annual premium rate payable for any plan year to the Pension Benefit Guaranty Corporation by all plans for guaranteed basic benefits. Revises provisions relating to the sale of assets. Provides an exemption for employers from liability for withdrawals from fully funded plans. Provides an exemption for certain involuntary withdrawals. Revises provisions relating to payment of liability. Revises provisions relating to dispute resolution. Revises provisions for deadlines for either party's initiation of arbitration. Permits the parties to jointly agree in writing to extend the time limits for initiating arbitration. Requires that arbitration proceedings be conducted under specified rules until certain regulations are promulgated. Declares that arbitrators shall not be liable for arbitration decisions under such dispute resolution provisions. Provides that, where the employer and plan sponsor disagree on the choice of an arbitrator, the arbitrator shall be chosen by the plan sponsor and the employer alternately striking names from a list of arbitrators. Sets a 15-day deadline for payments after the employer's receipt of a final decision of the arbitrator. Title II: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to add special funding rules for multiemployer plans.

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1 official file

• Introduced in House

  summary · EN · 18 December 1982

  Open at official source

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