Page:United States Statutes at Large Volume 100 Part 3.djvu/170

 100 STAT. 1978

PUBLIC LAW 99-509—OCT. 21, 1986 '

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benefits after the attainment of normal retirement '

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age.

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The preceding provisions of this clause shall apply in accordance with regulations of the Secretary. Such '• ' ' regulations may provide for the application of the preceding provisions of this clause, in the case of any such employee, with respect to any period of time • ^ •* within a plan year. = • '

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' ''' Regulations.

Ante, p. 1977.

"(iv) DISREGARD OF SUBSIDIZED PORTION OF EARLY

RETIREMENT BENEFIT.—A plan shall not be treated as failing to meet the requirements of clause (i) solely because the subsidized portion of any early retirement benefit is disregarded in determining benefit accruals. "(v) COORDINATION WITH OTHER REQUIREMENTS.—The

Secretary shall provide by regulation for the coordination of the requirements of this subparagraph with the j:^ '/ ' requirements of subsection (a), sections 404, 410, and 415, and the provisions of this subchapter precluding discrimination in favor of highly compensated employees.". ~ (2) DEFINED CONTRIBUTION PLANS.—Section 411(b) of such Code is further amended— (A) by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively; and "(B) by inserting after paragraph (1) the following new paragraph: "(2) DEFINED CONTRIBUTION PLANS.—

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"(A) IN GENERAL.—A defined contribution plan satisfies the requirements of this paragraph if, under the plan, allocations to the employee's account are not ceased, and the rate at which amounts are allocated to the employee's account is not reduced, because of the attainment of any age. "(B) DISREGARD OF SUBSIDIZED PORTION OF EARLY RETIREMENT BENEFIT.—A plan shall not be treated as failing to

meet the requirements of subparagraph (A) solely because the subsidized portion of any early retirement benefit is disregarded in determining benefit accruals. Regulations.

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"(C) APPLICATION TO TARGET BENEFIT PLANS.—The SeC-

retary shall provide by regulation for the application of the requirements of this paragraph to target benefit plans. "(D) COORDINATION WITH OTHER REQUIREMENTS.—The Sec-

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retary may provide by regulation for the coordination of the requirements of this subparagraph with the requirements of subsection (a), sections 404, 410, and 415, and the provisions of this subchapter precluding discrimination in favor r •:«of highly compensated employees.". (3) CONFORMING AMENDMENT.—The first sentence of section 411(a) of such Code (relating to minimum vesting standards) is amended by striking out "paragraph (2) of subsection (b), and" and all that follows through the end thereof and inserting in lieu thereof "subsection (b)(3), and also satisfies, in the case of a defined benefit plan, the requirements of subsection (b)(1) and, & in the case of a defined contribution plan, the requirements of ^ii subsection (b)(2).".

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