Page:United States Statutes at Large Volume 88 Part 1.djvu/959

 88 STAT. ]

PUBLIC LAW 93-406-SEPT. 2, 1974

" (D) the amount necessary to amortize in equal annual installments (until fully amortized) over a period of 5 plan years any amount credited to the funding standard account under paragraph (3)(D). "(3) CREDITS TO ACCOUNT.—For a plan year, the funding standard account shall be credited with the sum of— " (A) the amount considered contributed by the employer to or under the plan for the plan year, " (B) the amount necessary to amortize in equal annual installments (until fully amortized)— " (i) separately, with respect to each plan year, the net decrease (if any) in unfunded past service liability under the plan arising from plan amendments adopted in such year, over a period of 30 plan years (40 plan years in the case of a multiemployer plan), "(ii) separately, with respect to each plan year, the net experience gain (if any) under the plan, over a period of 15 plan years (20 plan years in the case of a multiemployer plan), and • "(iii) separately, with respect to each plan year, the net gam (if any) resulting from changes in actuarial assumptions used under the plan, over a period of 30 plan years, " (C) the amount of the waived funding deficiency (within the meaning of subsection (d)(3) for the plan year, and " (D) in the case of a plan year for which the accumulated funding deficiency is determined under the funding standard account if such plan year follows a plan year for which such deficiency was determined under the alternative minimum funding standard, the excess (if any) of any debit balance in the funding standard account (determined without regard to this subparagraph) over any debit balance in the alternative minimum funding standard account. "(4)

COMBINING AND OFFSETTING AMOUNTS TO BE AMORTIZED,—

Under regulations prescribed by the Secretary or his delegate, amounts required to be amortized under paragraph (2) or paragraph (3), as the case may be—• " (A) may be combined into one amount under such paragraph to be amortized over a period determined on the basis of the remaining amortization period for all items entering into such combined amount, and " (B) may be offset against amounts required to be amortized under the other such paragraph, with the resulting amount to be amortized over a period determined on the basis of the remaining amortization periods for all items entering into whichever of the two amounts being offset is the greater. "(5) INTEREST.—The funding standard account (and items therein) shall be charged or credited (as determined under regulations prescribed by the Secretary or his delegate) with interest at the appropriate rate consistent with the rate or rates of interest used under the plan to determine costs. " (c)

SPECIAL RUUES.— "(1) DETERMINATIONS TO BE MADE UNDER FUNDING METHOD,—

For purposes of this section, normal costs, accrued liability, past service liabilities, and experience gains and losses shall be determined under the funding method used to determine costs under the plan.

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