Page:United States Statutes at Large Volume 122.djvu/1650

 12 2 STA T . 1 6 2 7PUBLIC LA W 11 0– 2 45—J U NE 17, 200 8resultofp erfor mingq u a lifie d militar y ser v i c e prior to reemployment b yt h e employer are credited w ith service and benefits on reasonably equivalent terms .‘ ‘ (C)DET E RMINA TI O NO FB ENEFIT S . —T he amount of employee contributions and the amount of elective deferrals of an individual treated as reemployed under subparagraph ( A ) for purposes of applying paragraph ( 8 )(C) shall be deter - mined on the basis of the individual ’ s average actual employee contributions or elective deferrals for the lesser of— ‘‘(i) the 12 -month period of service with the employer immediately prior to qualified military service , or ‘‘(ii) if service with the employer is less than such 12-month period, the actual length of continuous service with the employer.’’. (c) CONFORMIN G AMEN D MENTS.— (1) S ection 40 4(a)(2) is amended by stri k ing ‘‘and ( 3 1)’’ and inserting ‘‘(31), and (3 7 )’’. (2) Section 403(b) is amended by adding at the end the following new paragraph

‘‘(14) DEAT H BENEFITS U NDER USERRA- Q UA L IFIED A C TI V E MILITAR Y SERVICE.—This subsection shall not apply to an annuity contract unless such contract meets the requirements of section 401(a)(37).’’. (3) Section 4 5 7(g) is amended by adding at the end the following new paragraph: ‘‘(4) DEATH BENEFITS UNDER USERRA-QUALIFIED ACTIVE MILI- TARY SERVICE.—A plan described in paragraph (1) shall not be treated as an eligible deferred compensation plan unless such plan meets the requirements of section 401(a)(37).’’. (d) E FFECTIVE DATE.— (1) I N GENERAL.—The amendments made by this section shall apply with respect to deaths and disabilities occurring on or after J anuary 1, 2007. (2) P ROVISIONS RELATING TO P LAN AMENDMENTS.— (A) IN GENERAL.—If this subparagraph applies to any plan or contract amendment, such plan or contract shall be treated as being operated in accordance with the terms of the plan during the period described in subparagraph ( B )(iii). (B) AMENDMENTS TO W HICH SUBPARAGRAPH (A) APPLIES.— (i) IN GENERAL.—Subparagraph (A) shall apply to any amendment to any plan or annuity contract which is made— (I) pursuant to the amendments made by sub- section (a) or pursuant to any regulation issued by the Secretary of the Treasury under subsection (a), and (II) on or before the last day of the first plan year beginning on or after January 1, 2010. In the case of a governmental plan (as defined in section 414(d) of the Internal R evenue Code of 1 9 8 6 ), this clause shall be applied by substituting ‘‘2012’’ for ‘‘2010’’ in subclause (II). 26USC401note. 26 USC 404.

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