Page:United States Statutes at Large Volume 101 Part 2.djvu/1160

 101 STAT. 1330-366

PUBLIC LAW 100-203—DEC. 22, 1987

(B) by redesignating subclause (III) as subclause (IV); (C) by inserting after subclause (II) the following new " subclause: "(III) such person timely submits to the corpora* tion any request for the approval of the bankr 'f ruptcy court (or other appropriate court in a case under such similar law of a State or political sul>division) of the plan termination, and"; and (D) in subclause (IV) (as redesignated), by striking "(or < • other" and all that follows through "subdivision) and >" inserting "(or such other appropriate court)". (6) ARRANGEMENTS FOR PAYMENT OF LIABILITY BY CONTROLLED

GROUPS.—Section 4067 of ERISA (29 U.S.C. 1367) is amended by striking "controlled groups who are" and inserting "controlled groups who are or may become". 29 USC 1301 (c) EFFECTIVE DATE.—The amendments made by this section shall note. apply with respect to plan terminations under section 4041 of ERISA with respect to which notices of intent to terminate are provided under section 4041(a)(2) of ERISA after December 17, 1987. SEC. 9314. ADDITIONAL AMENDMENTS RELATING TO PLAN TERMINATION. (a) CERTAIN INFORMATION NOT REQUIRED FROM CERTAIN INSURANCE CONTRACT PLANS.— (1) STANDARD TERMINATION.—Section 4041(b)(2)(A) of ERISA

(29 U.S.C. 1341(b)(2)(A)) is amended— (A) by striking clause (iii) and inserting the following: "(iii) certification by the plan administrator that— a "(I) the information on which the enrolled actuary based the certification under clause (i) is accurate and complete, and jii'^ "(II) the information provided to the corporation under clause (ii) is accurate and complete."; and (B) by adding at the end thereof the following: "Clause (i) and clause (iii)(I) shall not apply to a plan described in section 412(i) of the Internal Revenue Code of 1986.". (2) DISTRESS TERMINATION.—Section 4041(c)(2)(A) of ERISA (29 U.S.C. 1341(c)(2)(A)) is amended— (A) by striking clause (iv) and inserting the following: "(iv) certification by the plan administrator that— "(I) the information on which the enrolled actuary based the certifications under clause (ii) is t: accurate and complete, and "(II) the information provided to the corporation under clauses (i) and (iii) is accurate and comvtf plete."; and (B) by adding at the end the following: "Clause (ii) and clause (iv)(I) shall not apply to a plan described in section 412(i) of the Internal Revenue Code of 1986.". (b) CLARIFICATION OF EXISTING AUTHORITY TO POOL ASSETS OF TERMINATED PLANS.—Section 4042 of ERISA (29 U.S.C. 1342(a)) is amended

by striking the third sentence and inserting the following: "Notwithstanding any other provision of this title, the corporation is authorized to pool assets of terminated plans for purposes of administration, investment, payment of liabilities of all such terminated plans, and such other purposes as it determines to be appropriate in the administration of this title.".

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