Page:United States Statutes at Large Volume 103 Part 3.djvu/373

 PUBLIC LAW 101-239—DEC. 19, 1989 103 STAT. 2441 (B) Section 9312(b)(2)(B)(ii) of the Pension Protection Act is 29 USC 1362. amended to read as follows: "(ii) Section 4062(d) of ERISA (as redesignated by parfigraph (I)(B)) is amended by striking out paragraph (3).". (C) Section 4068 of ERISA is amended by adding at the end 29 USC 1368. the follo\nng new subsection: "(f) DEFINITIONS.—For purposes of this section— "(1) The collective net worth of persons subject to liability in connection with a plan termination shall be determined as - provided in section 4062(d)(l). "(2) The term 'pre-tax profits' has the meaning provided in section 4062(d)(2).' \ (11) Section 4022(c)(l) of ERISA is amended by striking "sec- 29 USC 1322. tion 4044(a), to such participant" and inserting "section 4044(a). Such payment shall be made to such participant". (12) Subsection (a) of section 4068 of ERISA is amended— (A) by striking "to the extent such amount does not exceed 30 percent of the collective net worth of all persons described in section 4062(a)" the first place it appears; and (B) by striking "to the extent such amount does not Gifts and exceed 30 percent of the collective net worth of all persons property. _ described in section 4062(a)" the second place it appears and ^^^ property, all that follows and inserting the following: "in the amount of such liability (including interest) upon all property and rights to property, whether real or personal, belonging to such person, except that such lien may not be in an amount in excess of 30 percent of the collective net worth of all persons described in section 4062(a)". (13) The table of contents in section 1 of ERISA is amended by striking the item relating to section 4049, (g) AMENDMENTS RELATED TO SECTION 9313.— (1) Section 4041(d)(l) of ERISA is amended by striking "suffi- 29 USC 1341. cient for benefit commitments" and inserting "sufficient for benefit liabilities". (2) Section 4041(c)(2)(B) of ERISA is amended by inserting "proposed" before "termination" in the parenthetical in the second sentence (3) Clause (ii) of section 4041(c)(2)(A) of ERISA is amended— (A) by inserting "unless the corporation determines the * ' • - information is not necessary for purposes of paragraph (3)(A) or section 4062," before "certification", (B) by inserting "and, if applicable, the proposed distribu- tion date" after "termination date" in subclause (I), and (C) by striking "date" and inserting "dates" in subclauses (II) through (V). (4) Subparagraph (B) of section 4041(b)(3) of ERISA is amend- (5) Section 9313(b)(3) of the Pension Protection Act is amended 29 USC 1341. by inserting "each place it appears" before the period. (6) Section 4041(b)(2)(A) of ERISA is amended by adjusting the left-hand margination of the last sentence two ems to the right. (7) The first subsection (b) of section 9314 of the Pension Protection Act is amended by striking "Section 4042" and 29 USC 1342. inserting "Section 4042(a)", and by striking "third sentence" and inserting "last sentence".

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