Page:United States Statutes at Large Volume 120.djvu/983

 120 STAT. 952

PUBLIC LAW 109–280—AUG. 17, 2006 (c) EFFECTIVE DATE.— (1) IN GENERAL.—The amendments made by this section shall apply to plan years beginning after December 31, 2006. (2) SPECIAL RULE FOR COLLECTIVELY BARGAINED AGREEMENTS.—In the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified on or before the date of the enactment of this Act, paragraph (1) shall be applied to benefits pursuant to, and individuals covered by, any such agreement by substituting for ‘‘December 31, 2006’’ the earlier of— (A) the later of— (i) December 31, 2007, or (ii) the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof after such date of enactment), or (B) December 31, 2008.

29 USC 1025 note.

SEC. 509. NOTICE TO PARTICIPANTS OR BENEFICIARIES OF BLACKOUT PERIODS.

29 USC 1021 note.

(a) IN GENERAL.—Section 101(i)(8)(B) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(i)(8)(B)) is amended by striking clauses (i) through (iv), by redesignating clause (v) as clause (ii), and by inserting before clause (ii), as so redesignated, the following new clause: ‘‘(i) on the first day of the plan year— ‘‘(I) covered only one individual (or the individual and the individual’s spouse) and the individual (or the individual and the individual’s spouse) owned 100 percent of the plan sponsor (whether or not incorporated), or ‘‘(II) covered only one or more partners (or partners and their spouses) in the plan sponsor, and’’. (b) EFFECTIVE DATE.—The amendments made by this subsection shall take effect as if included in the provisions of section 306 of Public Law 107–204 (116 Stat. 745 et seq.).

TITLE VI—INVESTMENT ADVICE, PROHIBITED TRANSACTIONS, AND FIDUCIARY RULES Subtitle A—Investment Advice SEC. 601. PROHIBITED TRANSACTION EXEMPTION FOR PROVISION OF INVESTMENT ADVICE.

(a) AMENDMENTS TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974.— (1) EXEMPTION FROM PROHIBITED TRANSACTIONS.—Section 408(b) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1108(b)) is amended by adding at the end the following new paragraph:

VerDate 14-DEC-2004

10:20 Jul 12, 2007

Jkt 059194

PO 00001

Frm 00950

Fmt 6580

Sfmt 6581

E:\PUBLAW\PUBL001.109

APPS06

PsN: PUBL001

�