Page:United States Statutes at Large Volume 100 Part 1.djvu/307

 PUBLIC LAW 99-272—APR. 7, 1986

100 STAT. 271

ending prior to the termination date by persons in such controlled group as contributing sponsors, and "(ii) the denominator of which is the total amount required to be contributed to the plan for such last 5 plan years by all persons as contributing sponsors, and clauses (i)(II) and (ii) of section 4062(b)(1)(A) shall be applied 29 USC 1362. separately with respect to each such controlled group, and "(2) the amount of the liability determined under section 4062(c)(1) with respect to the entire plan shall be allocated to each controlled group by multiplying such amount by the fraction described in paragraph (1)(B) in connection with such controlled group. The corporation may also determine the liability of each such contributing sponsor and member of its controlled group on any other equitable basis prescribed by the corporation in regulations.", (iii) The heading for section 4064 is amended to read as follows: "LIABILITY ON TERMINATION OF SINGLE-EMPLOYER PLANS UNDER MULTIPLE CONTROLLED GROUPS". (C) ANNUAL NOTIFICATION TO SUBSTANTIAL EMPLOYERS.—

Section 4066 (29 U.S.C. 1366) is amended— (i) by striking out "each plan under which contributions are made by more than one employer (other than a multiemployer plan)" and inserting in lieu thereof "each single-employer plan which has at least two contributing sponsors at least two of whom are not under common control"; (ii) by striking out "any employer making contributions under that plan" and inserting in lieu thereof "contributing sponsor of the plan"; and (iii) by striking out "that he is a substantial employer" and inserting in lieu thereof "that such contributing sponsor (alone or together with members of such contributing sponsor's controlled group) constitutes a substantial employer". (6) ADDITIONAL AMENDMENTS RELATING TO RECOVERY AMOUNTS OF LIABILITY.—

OF

(A) Section 4067 (29 U.S.C. 1367) is amended— (i) in the heading, by striking out "EMPLOYER"; (ii) by striking out "employer or employers" and inserting in lieu thereof "contributing sponsors and members of their controlled groups"; and (iii) by inserting "of amounts of liability to the corporation accruing as of the termination date" after "deferred payment". (B) Section 4068 (29 U.S.C. 1368) is amended— (i) in the heading, by striking out "OF EMPLOYER"; (ii) in subsection (a), by striking out "employer or employers" the first place it appears and inserting in lieu thereof "person", by striking out "neglect or refuse" and inserting in lieu thereof "neglects or refuses", by inserting "to the extent of an amount equal to the unpaid amount described in section 4062(b)(l)(A)(i)" after "liability" and after "corporation" the second place it appears, and by striking out

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