§ 1322b. Aggregate limit on benefits guaranteed; criteria applicable
(a)
Notwithstanding sections
1322 and
1322a of this title, no person shall receive from the corporation pursuant to a guarantee by the corporation of basic benefits with respect to a participant under all multiemployer and single employer plans an amount, or amounts, with an actuarial value which exceeds the actuarial value of a monthly benefit in the form of a life annuity commencing at age 65 equal to the amount determined under section
1322
(b)(3)(B) of this title as of the date of the last plan termination.
(b)
For purposes of this section—
(1)
the receipt of benefits under a multiemployer plan receiving financial assistance from the corporation shall be considered the receipt of amounts from the corporation pursuant to a guarantee by the corporation of basic benefits except to the extent provided in regulations prescribed by the corporation, and