29 U.S.C. § 1322b : US Code - Section 1322B: Aggregate limit on benefits guaranteed; criteria applicable

Search 29 U.S.C. § 1322b : US Code - Section 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
(2) the date on which a multiemployer plan, whether or not
terminated, begins receiving financial assistance from the
corporation shall be considered a date of plan termination.