In the case of any plan maintained on January 1, 1974, if not later than 2 years after September 2, 1974, the administrator petitions the Secretary, the Secretary may prescribe an alternate method which shall be treated as satisfying the requirements of
section 1053(a)(2) or
1054(b)(1) (other than subparagraph (D) thereof) of this title or both for a period of not more than 4 years. The Secretary may prescribe such alternate method only when he finds that—
(1) the application of such requirements would increase the costs of the plan to such an extent that there would result a substantial risk to the voluntary continuation of the plan or a substantial curtailment of benefit levels or the levels of employees’ compensation.
(2) the application of such requirements or discontinuance of the plan would be adverse to the interests of plan participants in the aggregate, and
(3) a waiver or extension of time granted under
section 1083 or
1084 of this title would be inadequate.
In the case of any plan with respect to which an alternate method has been prescribed under the preceding provisions of this subsection for a period of not more than 4 years, if, not later than 1 year before the expiration of such period, the administrator petitions the Secretary for an extension of such alternate method, and the Secretary makes the findings required by the preceding sentence, such alternate method may be extended for not more than 3 years.
Source credit, amendments & notes
(Pub. L. 93–406, title I, §207, Sept. 2, 1974, 88 Stat. 865.)
Repeal of Section
Pub. L. 109–280, title I, §107(d), (e), Aug. 17, 2006, 120 Stat. 820, provided that, applicable to plan years beginning after 2007, this section is repealed.
Effective Date of Repeal
Repeal applicable to plan years beginning after 2007, see section 107(e) of Pub. L. 109–280, set out as an Effective Date of 2006 Amendment note under section 1021 of this title.
Regulations
Secretary authorized, effective Sept. 2, 1974, to promulgate regulations wherever provisions of this subchapter call for the promulgation of regulations, see section 1031 of this title.
ERISA § 207 (29 U.S.C. § 1057) — Repealed. Pub. L. 109–280, title I, §108(d), formerly §107(d), Aug. 17, 2006, 120 Stat. 820, renumbered Pub. L. 111–192, title II, §202(a), June 25, 2010, 124 Stat. 1297 · USC 1994 ed., current through 1995-01-04 · https://pensionresource.website/EAMain?content=EAMain.Law&id=usc29-1057&asof=1995-01-04 · printed Oct 16, 2026