Welfare and Pension Plan Legislation: Hearings, Ninety-third Congress, First Session, on H.R. 2 and H.R. 462 ...U.S. Government Printing Office, 1973 - Labor union welfare funds |
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Common terms and phrases
accrued accrued benefits actuarial administration agreement amended amount annual annuity assets bargaining believe beneficiaries bill BURTON Chairman committee Congress Congressman Connecticut contributions corporate cost covered DENT disclosure effect Elgin eligible employee benefit employment ERLENBORN Federal fiduciary FORD GAYDOS going income increase individual industry interest Internal Revenue Internal Revenue Code Internal Revenue Service investment Labor legislation ment million negotiated paid participants past service payment pension benefits pension fund pension reform percent period person plant ployees portability president private pension plans problem profit-sharing proposed protection question reasonable receive reinsurance retirement plans retirement system S. S. Kresge Company SARASIN Section sion social security standards statement Studebaker subcommittee talking Teamsters testimony Thank thing tion trust unfunded union United Auto Workers United Steelworkers vested benefits vested rights vesting provisions workers
Popular passages
Page 125 - ... if under the trust instrument it is impossible, at any time prior to the satisfaction of all liabilities with respect to employees and their beneficiaries under the trust, for any part of the corpus or income to be (within the taxable year or thereafter) used for, or diverted to, purposes other than for the exclusive benefit of his employees or their beneficiaries...
Page 26 - ... with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims...
Page 677 - ... (4) makes any substantial purchase of securities or any other property, for more than adequate consideration in money or money's worth, from; (5) sells any substantial part of its securities or other property, for less than an adequate consideration in money or money's worth, to; or (6) engages in any other transaction which results in a substantial diversion of its income or corpus...
Page 682 - The summary plan description shall include the information described in subsection (b), shall be written in a manner calculated to be understood by the average plan participant...
Page 677 - In acquiring, investing, reinvesting, exchanging, retaining, selling and managing property for the benefit of another, a fiduciary shall exercise the judgment and care under the circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.
Page 295 - labor organization" means any organization of any kind, or any agency or employee representation committee or plan, in which employees participate and which exists for the purpose, in whole or in part, of dealing with employers concerning grievances, labor disputes, wages, rates of pay, hours of employment, or conditions of work.
Page 490 - Kellison is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and an Enrolled Actuary under the Employee Retirement Income Security Act of 1974.
Page 217 - I am a fellow of the Society of Actuaries and a member of the American Academy of Actuaries. The...
Page 299 - For the purpose of any such investigation, or any other proceeding under this title, any member of the Commission or any officer designated by it is empowered to administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, or other records which the Commission deems relevant or material to the inquiry.
Page 682 - ... medical, surgical, or hospital care or benefits, or benefits in the event of sickness, accident, disability, death or unemployment...