Page:United States Statutes at Large Volume 111 Part 1.djvu/1082

 Ill STAT. 1058 PUBLIC LAW 105-34—AUG. 5, 1997 26 USC 6621 (b) EFFECTIVE DATE.— The amendment made by subsection (a) ^°^^- shall apply for purposes of determining interest for periods after December 31, 1997. TITLE XV—PENSIONS AND EMPLOYEE BENEFITS Subtitle A—Simplification SEC. 1501. MATCHING CONTRffiliTIONS OF SELF-EMPLOYED INDIVID- UALS NOT TREATED AS ELECTIVE EMPLOYER CONTRIBU- TIONS. (a) IN GENERAL.—Section 402(g) (relating to limitation on exclusion for elective deferrals) is amended by adding at the end the following: " (9) MATCHING CONTRIBUTIONS ON BEHALF OF SELF- EMPLOYED INDIVIDUALS NOT TREATED AS ELECTIVE EMPLOYER CONTRIBUTIONS.—Except as provided in section 401(k)(3)(D)(ii), any matching contribution described in section 401(m)(4)(A) which is made on behalf of a self-employed individual (as defined in section 401(c)) shall not be treated as an elective employer contribution under a qualified cash or deferred arrangement (as defined in section 401(k)) for purposes of this title.". (b) CONFORMING AMENDMENT FOR SIMPLE RETIREMENT ACCOUNTS. — Section 408(p) (relating to simple retirement accounts) is amended by adding at the end the following: " (8) MATCHING CONTRIBUTIONS ON BEHALF OF SELF- EMPLOYED INDIVIDUALS NOT TREATED AS ELECTIVE EMPLOYER CONTRIBUTIONS.—Any matching contribution described in paragraph (2)(A)(iii) which is made on behalf of a self-employed individual (as defined in section 401(c)) shall not be treated as an elective employer contribution to a simple retirement account for purposes of this title.". (c) EFFECTIVE DATES.— 26 USC 402 note. (1) ELECTIVE DEFERRALS. — The amendment made by subsection (a) shall apply to years beginning after December 31, 1997. 26 USC 408 note. (2) SIMPLE RETIREMENT ACCOUNTS. — The amendment made by subsection (b) shall apply to years beginning after December 31, 1996. SEC. 1502. MODIFICATION OF PROHIBITION OF ASSIGNMENT OR ALIENATION. (a) AMENDMENT TO ERISA. —Section 206(d) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1056(d)) is amended by adding at the end the following: "(4) Paragraph (1) shall not apply to any offset of a participant's benefits provided under an employee pension benefit plan against an amount that the participant is ordered or required to pay to the plan if— "(A) the order or requirement to pay arises— "(i) under a judgment of conviction for a crime involving such plan,

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