Page:United States Statutes at Large Volume 100 Part 1.djvu/275

 PUBLIC LAW 99-272—APR. 7, 1986

100 STAT. 239

"(A) who is responsible, in connection with such plan, for meeting the funding requirements under section 302 of this Act or section 412 of the Internal Revenue Code of 1954, or "(B) who is a member of the controlled group of a person described in subparagraph (A), has been responsible for meeting such funding requirements, and has employed a significant number (as may be defined in regulations of the corporation) of participants under such plan while such person was so responsible; "(14) in the case of a single-employer plan— "(A) 'controlled group' means, in connection with any person, a group consisting of such person and all other persons under common control with such person; and "(B) the determination of whether two or more persons are under 'common control' shall be made under regulations of the corporation which are consistent and coextensive with regulations prescribed for similar purposes by the Secretary of the Treasury under subsections (b) and (c) of section 414 of the Internal Revenue Code of 1954; "(15) 'single-employer plan' means any defined benefit plan (as defined in section 3(35)) which is not a multiemployer plan; "(16) 'benefit commitments', to a participant or beneficiary as of any date under a single-employer plan, means all benefits provided by the plan with respect to the participant or beneficiary which— "(A) are guaranteed under section 4022, "(B) would be guaranteed under section 4022, but for the operation of subsection 4022(b), or "(C) constitute— "(i) early retirement supplements or subsidies, or "(ii) plant closing benefits, irrespective of whether any such supplements, subsidies, or benefits are benefits guaranteed under section 4022, if the participant or beneficiary has satisfied, as of such date, all of the conditions required of him or her under the provisions of the plan to establish entitlement to the benefits, except for the submission of a formal application, retirement, completion of a required waiting period subsequent to application for benefits, or designation of a beneficiary; "(17) 'amount of unfunded guaranteed benefits', of a participant or beneficiary as of any date under a single-employer plan, means an amount equal to the excess of— "(A) the actuarial present value (determined as of such date on the basis of assumptions prescribed by the corporation for purposes of section 4044) of the benefits of the participant or beneficiary under the plan which are guaranteed under section 4022, over "(B) the current value (as of such date) of the assets of the plan which are required to be allocated to those benefits under section 4044; "(18) 'amount of unfunded benefit commitments', of a participant or beneficiary as of any date under a single-employer plan, means an amount equal to the excess of— "(A) the actuarial present value (determined as of such date on the basis of assumptions prescribed by the corporation for purposes of section 4044) of the benefit commitments to the participant or beneficiary under the plan, over

29 USC 1112. 26 USC 412.

26 USC 414. 29 USC 1002.

29 USC 1322.

29 USC 1344.

29 USC 1344.

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