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unfunded vested benefits

Defined in 4 places across 2 titles of the United States Code.

Except as provided in clause (v), for purposes of clause (ii), the term "unfunded vested benefits" means, for a plan year, the excess (if any) of—

(I) the funding target of the plan as determined under section 1083(d) of this title for the plan year by only taking into account vested benefits and by using the interest rate described in clause (iv), over

(II) the fair market value of plan assets for the plan year which are held by the plan on the valuation date.

Source

Except as provided in subclause (II) or (III), the term “unfunded vested benefits” means the amount which would be the unfunded current liability (within the meaning of section 1082(d)(8)(A) of this title) if only vested benefits were taken into account.

Source

For purposes of clause (ii), in the case of a CSEC plan (as defined in section 1060(f)(1) of this title), the term “unfunded vested benefits” means, for plan years beginning after December 31, 2018, the excess (if any) of—

(I) the funding liability of the plan as determined under section 1085a(j)(5)(C) of this title for the plan year by only taking into account vested benefits, over

(II) the fair market value of plan assets for the plan year which are held by the plan on the valuation date.

Source

For purposes of clause (ii), the term “unfunded vested benefits” means, for a plan year, the excess (if any) of—

(I) the funding target of the plan as determined under section 1083(d) of this title for the plan year by only taking into account vested benefits and by using the interest rate described in clause (iv), over

(II) the fair market value of plan assets for the plan year which are held by the plan on the valuation date.

Source

For purposes of this part, the term “unfunded vested benefits” means with respect to a plan, an amount (determined in accordance with regulations prescribed by the Secretary of the Treasury) equal to—

(A) the value of nonforfeitable benefits under the plan, less

(B) the value of assets of the plan.

Source

For purposes of this part, the term "unfunded vested benefits" means with respect to a plan, an amount (determined in accordance with regulations prescribed by the Secretary of the Treasury) equal to—

(A) the value of nonforfeitable benefits under the plan, less

(B) the value of assets of the plan.

Except as provided in regulations prescribed by the corporation, while a plan is in reorganization a benefit with respect to a participant (other than a death benefit) which is attributable to employer contributions and which has a value of more than $1,750 may not be paid in a form other than an annuity which (by itself or in combination with social security, railroad retirement, or workers' compensation benefits) provides substantially level payments over the life of the participant.

Any multiemployer plan which terminates under section 1341a(a)(2) of this title shall not be considered in reorganization after the last day of the plan year in which the plan is treated as having terminated.

Source

For purposes of this part, the term “unfunded vested benefits” means with respect to a plan, an amount equal to—

(A) the value of nonforfeitable benefits under the plan, less

(B) the value of the assets of the plan.

Source

The term “unfunded vested benefits” means, in connection with a plan, an amount (determined in accordance with regulations prescribed by the Secretary) equal to—

(i) the value of vested benefits under the plan, less

(ii) the value of the assets of the plan.

Source