Page:United States Statutes at Large Volume 120.djvu/887

 120 STAT. 856

PUBLIC LAW 109–280—AUG. 17, 2006 (A) determining unfunded vested benefits under section 4006(a)(3)(E)(iii) of such Act, and (B) determining any present value or making any computation under section 412 of such Code or section 302 of such Act, the mortality table shall be the mortality table used by the plan. (3) Section 430(c)(5)(B) of such Code and section 303(c)(5)(B) of such Act (relating to phase-in of funding target for exemption from new shortfall amortization base) shall each be applied by substituting ‘‘2012’’ for ‘‘2011’’ therein and by substituting for the table therein the following: The applicable percentage is:

‘‘In the case of a plan year beginning in calendar year: 2008 2009 2010 2011

26 USC 412 note. 26 USC 412 note.

Effective date. 26 USC 412 note.

.......................................................................................................... .......................................................................................................... .......................................................................................................... ..........................................................................................................

90 92 94 96

percent percent percent percent.

(c) DEFINITIONS.—Any term used in this section which is also used in section 430 of such Code or section 303 of such Act shall have the meaning provided such term in such section. If the same term has a different meaning in such Code and such Act, such term shall, for purposes of this section, have the meaning provided by such Code when applied with respect to such Code and the meaning provided by such Act when applied with respect to such Act. (d) SPECIAL RULE FOR 2006 AND 2007.— (1) IN GENERAL.—Section 769(c)(3) of the Retirement Protection Act of 1994, as added by section 201 of the Pension Funding Equity Act of 2004, is amended by striking ‘‘and 2005’’ and inserting ‘‘, 2005, 2006, and 2007’’. (2) EFFECTIVE DATE.—The amendment made by paragraph (1) shall apply to plan years beginning after December 31, 2005. (e) CONFORMING AMENDMENT.— (1) Section 769 of the Retirement Protection Act of 1994 is amended by striking subsection (c). (2) The amendment made by paragraph (1) shall take effect on December 31, 2007, and shall apply to plan years beginning after such date. SEC. 116. RESTRICTIONS ON FUNDING OF NONQUALIFIED DEFERRED COMPENSATION PLANS BY EMPLOYERS MAINTAINING UNDERFUNDED OR TERMINATED SINGLE-EMPLOYER PLANS.

26 USC 409A.

VerDate 14-DEC-2004

10:20 Jul 12, 2007

(a) AMENDMENTS OF INTERNAL REVENUE CODE.—Subsection (b) of section 409A of the Internal Revenue Code of 1986 (providing rules relating to funding) is amended by redesignating paragraphs (3) and (4) as paragraphs (4) and (5), respectively, and by inserting after paragraph (2) the following new paragraph: ‘‘(3) TREATMENT OF EMPLOYER’S DEFINED BENEFIT PLAN DURING RESTRICTED PERIOD.— ‘‘(A) IN GENERAL.—If— ‘‘(i) during any restricted period with respect to a single-employer defined benefit plan, assets are set

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