Page:United States Statutes at Large Volume 120.djvu/877

 120 STAT. 846

26 USC 430 note.

PUBLIC LAW 109–280—AUG. 17, 2006

Guaranty Corporation, by the contributing sponsor (or any member of the controlled group of the contributing sponsor). ‘‘(6) DEFINITIONS.—For purposes of this subsection— ‘‘(A) CONTRIBUTION PAYMENT.—The term ‘contribution payment’ means, in connection with a plan, a contribution payment required to be made to the plan, including any required installment under paragraphs (3) and (4) of subsection (j). ‘‘(B) DUE DATE; REQUIRED INSTALLMENT.—The terms ‘due date’ and ‘required installment’ have the meanings given such terms by subsection (j), except that in the case of a payment other than a required installment, the due date shall be the date such payment is required to be made under section 430. ‘‘(C) CONTROLLED GROUP.—The term ‘controlled group’ means any group treated as a single employer under subsections (b), (c), (m), and (o) of section 414. ‘‘(l) QUALIFIED TRANSFERS TO HEALTH BENEFIT ACCOUNTS.— In the case of a qualified transfer (as defined in section 420), any assets so transferred shall not, for purposes of this section, be treated as assets in the plan.’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply with respect to plan years beginning after December 31, 2007. SEC. 113. BENEFIT LIMITATIONS UNDER SINGLE-EMPLOYER PLANS.

(a)

26 USC prec. 430.

PROHIBITION OF SHUTDOWN BENEFITS AND OTHER UNPREDICTABLE CONTINGENT EVENT BENEFITS UNDER SINGLEEMPLOYER PLANS.— (1) IN GENERAL.—Part III of subchapter D of chapter 1 of the Internal Revenue Code of 1986 (relating to deferred compensation, etc.) is amended— (A) by striking the heading and inserting the following:

‘‘PART III—RULES RELATING TO MINIMUM FUNDING STANDARDS AND BENEFIT LIMITATIONS ‘‘SUBPART A. ‘‘SUBPART B.

MINIMUM FUNDING STANDARDS FOR PENSION PLANS.

BENEFIT LIMITATIONS UNDER SINGLE-EMPLOYER PLANS.

‘‘Subpart A—Minimum Funding Standards for Pension Plans ‘‘Sec. 430. Minimum funding standards for single-employer defined benefit pension plans.’’,

and (B) by adding at the end the following new subpart:

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