29 U.S. Code § 1030

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29 U.S. Code § 1030 - Alternative methods of compliance | U.S. Code | US Law | LII / Legal Information Institute

29 U.S. Code § 1030. Alternative methods of compliance
U.S. Code

Notes

(a) The Secretary on his own motion or after having received the petition
of an administrator may prescribe an alternative method for satisfying any
requirement of this part with respect to any pension plan, or class of
pension plans, subject to such requirement if he determines—
(1) that the use of such alternative method is consistent with the
purposes of this subchapter and that it provides adequate disclosure to
the participants and beneficiaries in the plan, and adequate reporting
to the Secretary,
(2) that the application of such requirement of this part would—
(A) increase the costs to the plan, or
(B) impose unreasonable administrative burdens with respect to
the operation of the plan, having regard to the particular
characteristics of the plan or the type of plan involved; and
(3) that the application of this part would be adverse to the interests
of plan participants in the aggregate.
(b) An alternative method may be prescribed under subsection (a) by
regulation or otherwise. If an alternative method is prescribed other than
by regulation, the Secretary shall provide notice and an opportunity for
interested persons to present their views, and shall publish in the Federal
Register the provisions of such alternative method.
(Pub. L. 93–406, title I, § 110, Sept. 2, 1974, 88 Stat. 851.)

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