adjustable benefit
Defined in 2 places across 2 titles of the United States Code.
For purposes of this paragraph, the term “adjustable benefit” means—
(I) benefits, rights, and features under the plan, including post-retirement death benefits, 60-month guarantees, disability benefits not yet in pay status, and similar benefits,
(II) any early retirement benefit or retirement-type subsidy (within the meaning of section 1054(g)(2)(A) of this title) and any benefit payment option (other than the qualified joint and survivor annuity), and
(III) benefit increases that would not be eligible for a guarantee under section 1322a of this title on the first day of initial critical year because the increases were adopted (or, if later, took effect) less than 60 months before such first day.
Source
- 2007–present29 U.S.C. § 1085Labor · Additional funding rules for multiemployer plans in endangered status or critical status · under this subchapter
For purposes of this paragraph, the term “adjustable benefit” means—
(I) benefits, rights, and features under the plan, including post-retirement death benefits, 60-month guarantees, disability benefits not yet in pay status, and similar benefits,
(II) any early retirement benefit or retirement-type subsidy (within the meaning of section 411(d)(6)(B)(i)) and any benefit payment option (other than the qualified joint and survivor annuity), and
(III) benefit increases that would not be eligible for a guarantee under section 4022A of the Employee Retirement Income Security Act of 1974 on the first day of initial critical year because the increases were adopted (or, if later, took effect) less than 60 months before such first day.
Source
- 2006–present26 U.S.C. § 432Internal Revenue Code · Additional funding rules for multiemployer plans in endangered status or critical status · under this title