Page:United States Statutes at Large Volume 101 Part 2.djvu/1131

 PUBLIC LAW 100-203—DEC. 22, 1987 "If the years of participation are: 1 2 3 4 5 or more "(iii) PARTICIPANTS TO WHOM

101 STAT. 1330-337 The applicable percentage is: 20 40 60 80 100.

SUBPARAGRAPH AP-

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PLIES.—This subparagraph shall apply to any participant who, at the time of becoming a participant— ,"(I) has not accrued any other benefit under any ,., defined benefit plan (whether or not terminated) maintained by the employer or a member of the ... •^ same controlled group of which the employer is a member, and ., J "(II) who first becomes a participant under the plan in a plan year beginning after December 31, 1987. "(8) OTHER DEFINITIONS.—For purposes of this subsection— "(A) UNFUNDED CURRENT LIABILITY.—The term 'unfunded current liability' means, with respect to any plan year, the excess (if any) of— R. "(i) the current liability under the plan, over "(ii) value of the plan's assets determined under subsection (c)(2) reduced by any credit balance in the funding standard account. "(B) FUNDED CURRENT LIABILITY PERCENTAGE.—The term 'funded current liability percentage' means, with respect to "(i) the amount determined under subparagraph (A)(ii), is of "(ii) the current liability under the plan. "(C) CONTROLLED GROUP.—The term 'controlled group' means any group treated as a single employer under • subsections (b), (c), (m), and (o) of section 414. "(D) ADJUSTMENTS TO PREVENT OMISSIONS AND DUPLICA-
 * , any plan year, the percentage which—

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TIONS.—The Secretary shall provide such adjustments in the unfunded old liability amount, the unfunded new liability amount, the unpredictable contingent event amount, the current payment amount, and any other charges or credits under this section as are necessary to avoid duplication or omission of any factors in the determination of such amounts, charges, or credits." (2) CONFORMING AMENDMENT.—Paragraph (2) of section 412(b)

of the 1986 Code is amended by adding at the end thereof the 26 USC 412. following new sentence: ^^ "For additional requirements in the case of plans other than multiemployer plans, see subsection (1)." (b) AMENDMENTS TO ERISA.—

(1) IN GENERAL.—Section 302 of ERISA (29 U.S.C. 1082) is amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the following new subsection: "(d) ADDITIONAL FUNDING REQUIREMENTS FOR PLANS WHICH ARE NOT MULTIEMPLOYER PLANS.— '•• Incorrect indention in copy.

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