Page:United States Statutes at Large Volume 103 Part 3.djvu/370

 103 STAT. 2438 PUBLIC LAW 101-239—DEC. 19, 1989 '-- J,; -T "(iii) UNFUNDED PERCENTAGE.— For purposes of <^• clause (iiXI), the term 'unfunded percentage' meanStK§ ^' L'- 'Z.' percentage determined under subsection (d)(SXAXiXD '-^ for the plan year. "(iv) LIMITATION ON INCREASE. — In no event shall the increases under clause (ii) exceed the amount necessary _ ^ to increase the funded current liability percentage (within the meaning of subsection (d)(SXB)) for the plan year to 100 percent.". 29 USC 1021. (5)(A) Section lOl(d)(l) of ERISA is amended by striking "an employer of a plan" and inserting "cm employer maintaining a plan". 29 USC 1132. (B) Section 502(c) of ERISA is amended by adding at the end thereof the following new paragraph: Employment "(3) Any employer maintaining a plan who fails to meet the notice ^^^ requirement of section 101(d) with respect to any participant or unemp oymen. beneficiary may in the court's discretion be liable to such partici- pant or beneficiary in the amount of up to $100 a day from the date of such failure, and the court may in its discretion order such other relief as it deems proper.". 29 USC 1021 (C) Section 9304(d) of the Pension Protection Act is amended "°^- by striking "Section" and inserting "Effective with respect to plan years beginning after December 31, 1987, section". 26 USC 412. (6)(A)(i) Subparagraph (B) of section 412(m)(l) is amended to read as follows: "(B) the rate of interest used under the plan in determining costs (including adjustments under subsection (b)(5)(B)).". ^ (ii) Clause (ii) of section 412(d)(l)(A) is amended by inserting ^ "(including adjustments under subsection (b)(SXB))" after "costs". 29 USC 1082. (B)(i) Subparagraph (B) of section 302(e)(l) of ERISA is amended to read as follows: "(B) the rate of interest used under the plan in determin- ing costs (including adjustments under subsection (b)(5)(B)).". 29 USC 1083. (ii) Section 303(a)(l)(B) of ERISA (as redesignated by subsec- tion (e)(2)) is amended by inserting "(including adjustments under section 302(b)(5)(B))" after "costs". (7) Section 303(a) of ERISA (as amended by section 9306(c)(2)(A) of the Pension Protection Act) is amended— (A) by redesignating subparagraphs (A) and (B) as para- graphs (1) and (2), respectively, and by adjusting the left- hand margination thereof 4 ems to the left; (B) in paragraph (1) (as redesignated), by redesignating clauses (i) and (ii) as subparagraphs (A) and (B), respec- tively; and (C) in paragraph (2) (as redesignated), by inserting "of such Code" after "section 6621(b)". (8) Subsection (f) of section 303 of ERISA (as so redesignated by section 9306(a)(2) of the Pension Protection Act) is trans- ferred to immediately after subsection (e) of such section. (c) AMENDMENTS RELATED TO SECTION 9306. — (1) The last sentence of section 412(fK4XA) is amended by striking "the benefit liabilities" and inserting "for benefit liabil- ities".

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