Page:United States Statutes at Large Volume 94 Part 1.djvu/1314

 94 STAT. 1264

PUBLIC LAW 96-364—SEPT. 26, 1980

business, and process may be served in any district where a defendant resides, does business, or may be found.". SEC. 105. PREMIUMS. Rates and bases, schedules. 29 USC 1306.

29 USC 1322. Ante, p. 1210.

Ante, p. 1208. Separate schedules.

Ante, p. 1240. Revised schedules.

Annual rates payable to Pension Benefit Guaranty eorporation.

(a) Section 4006(a) is amended to read as follows: "(a)(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 title. 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 4022, and shall be uniform for all multiemployer plans with respect to basic benefits guaranteed by it under section 4022A. In establishing annual premiums with respect to plans, other than multiemployer plans, paragraphs (5) and (6) of this subsection (as in effect before the enactment of the Multiemployer Pension Plan Amendments Act of 1980) shall continue to apply. "(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 4022 for single-employer plans, "(B) basic benefits guaranteed by it under section 4022A for multiemployer plans, "(C) nonbasic benefits guaranteed by it under section 4022 for single-employer plans, "(D) nonbasic benefits guaranteed by it under section 4022A for multiemployer plans, and "(E) reimbursements of uncollectible withdrawal liability under section 4222. The corporation may revise such schedules whenever it determines that revised schedules are necessary. Except as provided in section 4022A(f), in order to place a revised schedule described in subparagraph (A) or (B) in effect, the corporation shall proceed in accordance with subsection Ob)(l), and such schedule shall apply only to plan years beginning more than 30 days after the date on which the Congress approves such revised schedule by a concurrent resolution. "(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 title is— "(i) in the case of a single-employer plan, for plan years beginning after December 31, 1977, an amount equal to $2.60 for each individual who is a participant in such plan during the plan year; "(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 the date of enactment of the Multiemployer Pension Plan Amendments Act of 1980, an amount equal to—

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