Page:United States Statutes at Large Volume 108 Part 6.djvu/478

 108 STAT. 5046 PUBLIC LAW 103-465—DEC. 8, 1994 (2) ASSET VALUATION. —Clause (iii) of section 4006(a)(3)(E) 29 USC 1306. of such Act is amended— (A) by inserting "or (III)" after "subclause (11)" in subclause (I), and (B) by adding at the end the following new subclause: "(III) In the case of any plan year for which the applicable percentage under subclause (II) is 100 percent, the value of the plan's assets used in determining''.iinfunded current liability under subclause (I) shall be their fedr market value." 29 USC 1306 (3) EFFECTIVE DATE. —The amendments made by this sub- "°*®- section shall apply to plan years beginning after the date of the enactment of this Act 29 USC 1306 (c) TRANSITION RULE FOR CERTAIN REGULATED PUBLIC UTILI- "°*®- TIES.— In the case of a regulated public utility described in section 7701(a)(33XA)(i) of the Internal Revenue Code of 1986, the amendments made by this section shall not apply to plan years beginning before the earlier of— (1) January 1, 1998, or (2) the date the regulated public utUity begins to collect from utility customers rates that reflect the costs incurred or projected to be incurred for additional premitmis under section 4006(a)(3)(E) of the Employee Retirement Income Security Act of 1974 pursuant to final and nonappealable determinations by all public utUity commissions (or other authorities having jurisdiction over the rates and terms of service by the regulated public utility) that the costs are just and reasonable and recoverable from customers of the regulated public utility. SEC. 775. DISCLOSUKE TO PARTICIPANTS. (a) PARTICIPANT NOTICE REQUIREMENT. — Subtitie A of title IV of the Employee Retirement Income Security Act of 1974 (as amended by section 772 of this Act) is further amended by adding at the end me following new section: 29 USC 1311. "SEC 4011. NOTICE TO PARTICIPANTS. "(a) IN GENERAL.—The plan administrator of a plan subject to the additional premium under section 4006(a)(3)(E) shall provide, in a form and manner and at such time as prescribed in regulations of the corporation, notice to plan participants and beneficiaries of the plan's funding status and the limits on the corporation's guaranty should the plan terminate while underfunded. Such notice shall be written in a manner so as to be understood by the average planparticipEoit. Q)) EXCEPTION.— Subsection (a) shall not apply to any plan to which section 302(d) does not apply for the plan year by reason of paragraph (9) thereof" (b) CLERICAL AMENDMENT. — The table of contents contained in section 1 of such Act is amended by inserting after the item relating to section 4010 (as added by section 772 of this Act) the following new item: "Sec. 4011. Notice to participantfl." 29 USC 1311 (c) EFFECTIVE DATE. — The amendment made by this section "°^ shall be effective for plan years beginning after the date of enactment of this Act.

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