§ 1301. Definitions
(a)
For purposes of this subchapter, the term—
(1)
“administrator” means the person or persons described in paragraph (16) of section
1002 of this title;
(2)
“substantial employer”, for any plan year of a single-employer plan, means one or more persons—
(3)
“multiemployer plan” means a plan—
(B)
which is maintained pursuant to one or more collective bargaining agreements between one or more employee organizations and more than one employer, and
(C)
which satisfies such other requirements as the Secretary of Labor may prescribe by regulation,
except that, in applying this paragraph—
(4)
“corporation”, except where the context clearly requires otherwise, means the Pension Benefit Guaranty Corporation established under section
1302 of this title;
(6)
“basic benefits” means benefits guaranteed under section
1322 of this title (other than under section
1322
(c) [1] of this title), or under section
1322a of this title (other than under section
1322a
(g) of this title);
(7)
“non-basic benefits” means benefits guaranteed under section
1322
(c) [1] of this title or 1322a(g) of this title;
(8)
“nonforfeitable benefit” means, with respect to a plan, a benefit for which a participant has satisfied the conditions for entitlement under the plan or the requirements of this chapter (other than submission of a formal application, retirement, completion of a required waiting period, or death in the case of a benefit which returns all or a portion of a participant’s accumulated mandatory employee contributions upon the participant’s death), whether or not the benefit may subsequently be reduced or suspended by a plan amendment, an occurrence of any condition, or operation of this chapter or title 26;
(11)
“contribution base unit” means a unit with respect to which an employer has an obligation to contribute under a multiemployer plan, as defined in regulations prescribed by the Secretary of the Treasury;
(12)
“outstanding claim for withdrawal liability” means a plan’s claim for the unpaid balance of the liability determined under part 1 of subtitle E of this subchapter for which demand has been made, valued in accordance with regulations prescribed by the corporation;
(13)
“contributing sponsor”, of a single-employer plan, means a person described in section
1082
(b)(1) of this title (without regard to section
1082
(b)(2) of this title) or section
412
(b)(1) of title
26 (without regard to section 412(b)(2) of such title).[2]
(14)
in the case of a single-employer plan—
(A)
“controlled group” means, in connection with any person, a group consisting of such person and all other persons under common control with such person;
(B)
the determination of whether two or more persons are under “common control” shall be made under regulations of the corporation which are consistent and coextensive with regulations prescribed for similar purposes by the Secretary of the Treasury under subsections (b) and (c) of section
414 of title 26; and
(C)
(i)
notwithstanding any other provision of this subchapter, during any period in which an individual possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of an affected air carrier of which he was an accountable owner, whether through the ownership of voting securities, by contract, or otherwise, the affected air carrier shall be considered to be under common control not only with those persons described in subparagraph (B), but also with all related persons; and
(ii)
for purposes of this subparagraph, the term—
(I)
“affected air carrier” means an air carrier, as defined in section
40102
(a)(2) of title
49, that holds a certificate of public convenience and necessity under section
41102 of title
49 for route number 147, as of November 12, 1991;
(II)
“related person” means any person which was under common control (as determined under subparagraph (B)) with an affected air carrier on October 10, 1991, or any successor to such related person;
(III)
“accountable owner” means any individual who on October 10, 1991, owned directly or indirectly through the application of section
318 of title
26 more than 50 percent of the total voting power of the stock of an affected air carrier;
(IV)
“successor” means any person that acquires, directly or indirectly through the application of section
318 of title
26, more than 50 percent of the total voting power of the stock of a related person, more than 50 percent of the total value of the securities (as defined in section
1002
(20) of this title) of the related person, more than 50 percent of the total value of the assets of the related person, or any person into which such related person shall be merged or consolidated; and
(15)
“single-employer plan” means any defined benefit plan (as defined in section
1002
(35) of this title) which is not a multiemployer plan;
(16)
“benefit liabilities” means the benefits of employees and their beneficiaries under the plan (within the meaning of section
401
(a)(2) of title
26);
(17)
“amount of unfunded guaranteed benefits”, of a participant or beneficiary as of any date under a single-employer plan, means an amount equal to the excess of—
(A)
the actuarial present value (determined as of such date on the basis of assumptions prescribed by the corporation for purposes of section
1344 of this title) of the benefits of the participant or beneficiary under the plan which are guaranteed under section
1322 of this title, over
(B)
the current value (as of such date) of the assets of the plan which are required to be allocated to those benefits under section
1344 of this title;
(18)
“amount of unfunded benefit liabilities” means, as of any date, the excess (if any) of—
(A)
the value of the benefit liabilities under the plan (determined as of such date on the basis of assumptions prescribed by the corporation for purposes of section
1344 of this title), over
(19)
“outstanding amount of benefit liabilities” means, with respect to any plan, the excess (if any) of—
(A)
the value of the benefit liabilities under the plan (determined as of the termination date on the basis of assumptions prescribed by the corporation for purposes of section
1344 of this title), over
(21)
“affected party” means, with respect to a plan—
(B)
each beneficiary under the plan who is a beneficiary of a deceased participant or who is an alternate payee (within the meaning of section
1056
(d)(3)(K) of this title) under an applicable qualified domestic relations order (within the meaning of section
1056
(d)(3)(B)(i) of this title),
(D)
the corporation,
except that, in connection with any notice required to be provided to the affected party, if an affected party has designated, in writing, a person to receive such notice on behalf of the affected party, any reference to the affected party shall be construed to refer to such person.
(b)
(1)
An individual who owns the entire interest in an unincorporated trade or business is treated as his own employer, and a partnership is treated as the employer of each partner who is an employee within the meaning of section
401
(c)(1) of title
26. For purposes of this subchapter, under regulations prescribed by the corporation, all employees of trades or businesses (whether or not incorporated) which are under common control shall be treated as employed by a single employer and all such trades and businesses as a single employer. The regulations prescribed under the preceding sentence shall be consistent and coextensive with regulations prescribed for similar purposes by the Secretary of the Treasury under section
414
(c) of title
26.
(2)
For purposes of subtitle E of this subchapter—
(A)
except as otherwise provided in subtitle E of this subchapter, contributions or other payments shall be considered made under a plan for a plan year if they are made within the period prescribed under section
412
(c)(10) [3] of title
26 (determined, in the case of a terminated plan, as if the plan had continued beyond the termination date), and
[1] See References in Text note below.
[2] So in original. The period probably should be a semicolon.
[3] See References in Text note below.