Page:United States Statutes at Large Volume 108 Part 6.djvu/444

 108 STAT. 5012 PUBLIC LAW 103-465—DEC. 8, 1994 SJSo; Act of Subtitle F—Pension Plan Funding and ^^^^ Premiums 26 USC 1 note. SEC. 750. SHORT TITLE. This subtitle may be cited as the "Retirement Protection Act of 1994". PART I—PENSION PLAN FUNDING Subpart A—-Amendments to the Internal Revenue Code of 1986 SEC. 751. MINIMUM FUNDING REQUIREMENTS. (a) AMENDMENTS TO ADDITIONAL FUNDING REQUIREMENTS FOR SINGLE-EMPLOYER PLANS.— (1) LIMITATIONS ON ADDITIONAL FUNDING REQUIREMENT FOR CERTAIN PLANS. — 26 USC 412. (A) IN GENERAL.— Paragraph (1) of section 412(1) (relating to additional funding requirements for plans which are not multiemployer plans) is amended by striking "which has an unfunded current Uability" and inserting "to which this subsection applies under paragraph (9)". (B) PLANS TO WHICH REQUIREMENT APPLIES. —Section 412(1) is amended by adding at the end the following new PEiragraph: (9) APPLICABILITY OF SUBSECTION. — "(A) IN GENERAL. —Except as provided in paragraph (6)(A), this subsection shall apply to a plan for any plan year if its funded current liaDility percentage for such year is less than 90 percent. " (B) EXCEPTION FOR CERTAIN PLANS AT LEAST SO PER- CENT FUNDED. —Subparagraph (A) shall not apply to a plan for a plan year if— - "(i) the funded current Uability percentage for the plan year is at least 80 percent, and "(ii) such percentage for each of the 2 immediately preceding plan years (or each of the 2d and 3d immediately preceding plan years) is at least 90 percent "(C) FUNDED CURRENT LIABILITY PERCENTAGE.—For purposes of subparagraphs (A) and (B), the term funded ciurent liabiHty percentage' has the meaning given such term by paragraph (8)(B), except that such percentage shall be determined for any plan year— "(i) without regard to paragraph (8)(E), and "(ii) by using the rate of interest which is the highest rate allowable for the plan year under paragraph (7)(C). ^(D) TRANSITION RULES.— For purposes of this paragraph: "(i) FUNDED PERCENTAGE FOR YEARS BEFORE 1995.— The funded current Uability percentage for any plan year beginning before January 1, 1995, shall be treated as not less than 90 percent only if for such plan year the plan met one of the following requirements (as in effect for such year):

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