Page:United States Statutes at Large Volume 100 Part 5.djvu/861

 CONCURRENT RESOLUTIONS—MAR. 26, 1986

100 STAT. 4335

amended, strike out "At the time" and insert in lieu thereof "No later than the date on which", and in clause (i), strike out ", expressed in terms of the normal form of benefits under the plan," and insert in lieu thereof "and the benefit form on the bsisis of which such amount is determined"; (C) in section 4041(b)(2)(C)(i) of ERISA, as proposed to be amended, strike out "provide the plan administrator with a notice of noncompliance" and insert in lieu thereof "issue a notice of noncompliance to the plan administrator", and in subclause (I), strike out "the requirements of subsection (a)(2) and subparagraphs (A) and (B) have" and insert in lieu thereof "any requirement of subsection (a)(2) or subparagraph (A) or (B) has"; (D) in section 4041(b)(3)(A) of ERISA, as proposed to be amended, strike out "the termination of the plan" and insert in lieu thereof "the standard termination of the plan under this subsection", and in clauses (i) and (ii), strike out "are allocated" each place it appears and insert in lieu thereof "are required to be allocated"; and (E) in section 404103)(3)(B) of ERISA, as proposed to be amended, strike out "the termination of the plan" and insert in lieu thereof "the standard termination of a plan under this subsection", and strike out "are allocated" and insert in lieu thereof "are required to be allocated". (11) SECTION iioosOa).—In section 11008 of the bill, strike out subsection Oa) and insert in lieu thereof the following: "(b) CONFORMING AMENDMENT.—Section 4041(f) (29 U.S.C. 1341(f)) is amended to read as follows: " '(f) LIMITATION ON THE CONVERSION OF A DEFINED BENEFIT PLAN TO A DEFINED CONTRIBUTION PLAN.—The adoption of an amendment

to a plan which causes the plan to become a plan described in section 40210t))(l) constitutes a termination of the plan. Such an amendment may take effect only after the plan satisfies the requirements for standard termination under subsection (b) or distress termination under subsection (c).'.". (12) SECTION 11008(C).—In section 11008(c) of the bill, strike out "May 1, 1986," and insert in lieu thereof "120 days after the date of the enactment of this Act,". (13) SECTION 11008(d).—In section 11008(d) of the bill, strike out paragraphs (1) and (2) and insert in lieu thereof the following paragraphs (1) and (2): "(1) REQUIREMENTS TO BE MET BEFORE FINAL DISTRIBUTION OF

ASSETS.—In the case of the termination of a single-employer plan described in paragraph (2) with respect to which the amount payable to the employer pursuant to section 4044(d) exceeds $1,000,000 (determined as of the proposed date of final distribution of gissets), the final distribution of assets pursuant to such termination may not occur unless the Pension Benefit Guaranty Corporation— "(A) determines that the assets of the plan are sufficient for benefit commitments (within the meaning of section 4041(d)(l) of the Employee Retirement Income Security Act of 1974 (as amended by section 11007)) under the plan, and "(B) issues to the plan administrator a written notice setting forth the determination described in subparagraph (A). "(2) PLANS TO WHICH SUBSECTION APPLIES.—A single-employer

plan is described in this paragraph if—

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