Page:United States Statutes at Large Volume 108 Part 6.djvu/447

 PUBLIC LAW 103-465—DEC. 8, 1994 108 STAT. 5015 (B) Clause (i) of section 412(1)(4)(B) is amended by 26 USC 412. inserting ", the unamortized portion of the additional unfunded old liability," after "old liability". (5) APPLICABLE PERCENTAGE FOR DETERMINING UNFUNDED NEW LIABILITY AMOtfNT.— Subparagraph (C) of section 412(1)(4) is amended— (A) by striking ".25" and inserting ".40", and (B) by striking "35" and inserting "60". (6) UNPREDICTABLE CONTINGENT EVENT AMOUNT. — (A) Subparagraph (A) of section 412(1)(5) is amended— (i) by striking "greater of and inserting "greatest of before clause (i); (ii) by striking "or" at the end of clause (i); (iii) by striking the period at the end of clause (ii) and inserting ", or"; and (iv) by adding after clause (ii) the following new clause: "(iii) the additional amount that would be determined under paragraph (4)(A) if the unpredictable contingent event benefit liabilities were included in unfunded new liability notwithstanding psiragraph (4)(B)(ii)." (B) Paragraph (5) of section 412(1) is amended by adding at the end the following new subparagraph: "(E) LIMITATION.—The present value of the amounts described in subparagraph (A) with respect to any one event shall not exceed the unpredictable contingent event benefit liabiHties attributable to that event" (C) Clause (ii) of section 412(m)(4)(D) is amended— (i) by slaiking "greater of and inserting "greatest of before subclause (I); (ii) by striking "or" at the end of subclause (I); (iii) by striking the period at the end of subclause (II) and inserting ", or"; and (iv) by adding after subclause (II) the following new clause: "(III) 25 percent of the amount determined under subsection (l)(5)(A)(iii) for the plan year." (7) REQUIRED INTEREST RATE AND MORTALITY ASSUMPTIONS FOR DETERMINING CtfRRENT LIABILITY. — (A) IN GENERAL. — Subparagraph (C) of section 412(1)(7) is amended to read as follows: "(C) INTEREST RATE AND MORTALITY ASSUMPTIONS Effective date. USED.— Effective for plan years beginning after December 31, 1994— "(i) INTE:REST RATE.— "(I) IN GENERAL. —The rate of interest used to determine current HabiHty under this subsection shall be the rate of interest used under subsection (b)(5), except that the highest rate in the permissible range under subparagraph (B)(ii) thereof shall not exceed the specified percentage under subclause (II) of the weighted average referred to in such subparagraph. "(II) SPECIFIED PERCENTAGE.—For purposes of subclause (I), the specified percentage snail be determined as follows:

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