Page:United States Statutes at Large Volume 116 Part 1.djvu/74

 116 STAT. 48 PUBLIC LAW 107-147—MAR. 9, 2002 employee is a beneficiary under more than 1 trust or under a trust and an annuity plan. "(ii) ELECTIVE DEFERRALS.—If, in connection with 1 or more defined contribution plans and 1 or more defined benefit plans, no amounts (other than elective deferrals (as defined in section 402(g)(3))) are contributed to any of the defined contribution plans for the taxable year, then subparagraph (A) shall not apply with respect to any of such defined contribution plans and defined benefit plans.", (m) AMENDMENT RELATING TO SECTION 618 OF THE ACT. — 26 USC 25B. Section 25B(d)(2)(A) is amended to read as follows: "(A) IN GENERAL.— The qualified retirement savings contributions determined under paragraph (1) shall be reduced (but not below zero) by the aggregate distributions received by the individual during the testing period from any entity of a type to which contributions under paragraph (1) may be made. The preceding sentence shall not apply to the portion of any distribution which is not includible in gross income by reason of a trustee-to-trustee transfer or a rollover distribution.", (n) AMENDMENTS RELATING TO SECTION 619 OF THE ACT. — (1) Section 45E(e)(l) is amended by striking "(n)" and inserting "(m)". (2) Section 619(d) of the Economic Growth and Tax Relief 26 USC 38 note. Reconciliation Act of 2001 is amended by striking "established" and inserting "first effective". (o) AMENDMENTS RELATING TO SECTION 631 OF THE ACT.— (1) Section 402(g)(1) is amended by adding at the end the following: " (C) CATCH-UP CONTRIBUTIONS. — In addition to subparagraph (A), in the case of an eligible participant (as defined in section 414(v)), gross income shall not include elective deferrals in excess of the applicable dollar amount under subparagraph (B) to the extent that the amount of such elective deferrals does not exceed the applicable dollar amount under section 414(v)(2)(B)(i) for the taxable year (without regard to the treatment of the elective deferrals by an applicable employer plan under section 414(v)).". (2) Section 401(a)(30) is amended by striking "402(g)(1)" and inserting "402(g)(1)(A)". (3) Section 414(v)(2) is amended by adding at the end the following: I "(D) AGGREGATION OF PLANS.— For purposes of this paragraph, plans described in clauses (i), (ii), and (iv) of paragraph (6)(A) that are maintained by the same employer (as determined under subsection (b), (c), (m) or (o)) shall be treated as a single plan, and plans described in clause (iii) of paragraph (6)(A) that are maintained by the same employer shall be treated as a single plan.". (4) Section 414(v)(3)(A)(i) is amended by striking "section 402(g), 402(h), 403(b), 404(a), 404(h), 408(k), 408(p), 415, or 457" and inserting "sections 401(a)(30), 402(h), 403(b), 408, 415(c), and 457(b)(2) (determined without regard to section 457(b)(3))". (5) Section 414(v)(3)(B) is amended by striking "section 401(a)(4), 401(a)(26), 401(k)(3), 401(k)(ll), 401(k)(12),

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