Page:United States Statutes at Large Volume 88 Part 1.djvu/1072

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PUBLIC LAW 93-406-SEPT. 2, 1974

[88 STAT.

(3) The corporation is authorized to waive, in whole or in part, the recovery of any amount which the trustee is authorized to recover for the benefit of a plan under this section in any case in which it determines that substantial economic hardship would result to the participant or his beneficiaries from whom such amount is recoverable. REPORTS TO TRUSTEE

29 USC 1346.

SEC. 4046. The corporation and the plan administrator of any plan to be terminated under this subtitle shall furnish to the trustee such information as the corporation or the plan administrator has and, to the extent practicable, can obtain regarding— (1) the amount of benefits payable with respect to each participant under a plan to be terminated, (2) the amount of benefits guaranteed under section 4022 which are payable with respect to each participant in the plan, (3) the present value, as of the time of termination, of the aggregate amount of benefits payable under section 4022 (determined without regard to section 4022(b)(5)), (4) the fair market value of the assets of the plan at the time of termination, (5) the computations under section 4044, and all actuarial assumptions under which the items described in paragraphs (1) through (4) were computed, and (6) any other information with respect to the plan the trustee may require in order to terminate the plan. RESTORATION OF P L A N S

29 USC 1347.

SEC. 4047. Whenever the corporation determines that a plan which is to be terminated, or which is in the process of being terminated, under this subtitle should not be terminated as a result of such circumstances as the corporation determines to be relevant, the corporation is authorized to cease any activities undertaken to terminate the plan, and to take whatever action is necessary and within its power to restore the plan to its status prior to the determination that the plan was to be terminated. In the case of a plan which has been terminated under section 4042 the corporation is authorized in any such case in which the corporation determines such action to be appropriate and consistent with its duties under this title, to take such action as may be necessary to restore the plan to its pretermination status, including, but not limited to, the transfer to the employer or a plan administrator of control of part or all of the remaining assets and liabilities of the plan. DATE OF TERMINATION

29 USC 1348.

SEC. 4048. For purposes of this title the date of termination is— (1) in the case of a plan terminated in accordance with the provisions of section 4041, the date established by the plan administrator and agreed to by the corporation, (2) in the case of a plan terminated in accordance with the provisions of section 4042, the date established by the corporation and agreed to by the plan administrator, or (3) in the case of a plan terminated in accordance with the provisions of either section in any case in which no agreement is reached between the plan administrator and the corporation (or the trustee), the date established by the court.

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