Page:United States Statutes at Large Volume 88 Part 1.djvu/977

 88 STAT. ]

PUBLIC LAW 93-406-SEPT. 2, 1974

1954 solely by reason of a supplementary or special plan provision (within the meaning of subparagraph (D)). (B) SPECIAL TEMPORARY WAIVER PERIOD.—For purposes of this paragraph, the term "special temporary waiver period" means plan years beginning after December 31, 1975, and before the earlier of—• (i) the date on which the last of the collective bargaining agreements relating to the plan terminates (determined without regard to any extension thereof agreed to after the date of the enactment of this Act), or (ii) January 1, 1981. For purposes of clause (i), any plan amendment made pursuant to a collective bargaining agreement relating to the plan which amends the plan solely to conform to any requirement contained in this Act shall not be treated as a termination of such collective bargaining agreement. (C)

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DETERMINATION BY SECRETARY OP LABOR REQUIRED.—

Subparagraph (A) shall not apply unless the Secretary of Labor determines that the participation and vesting rules in effect on the date of the enactment of this Act are not less favorable to the employees, in the aggregate, than the rules provided under sections 410 and 411 of the Internal Revenue Code of 1954. (D)

933

^"'e, pp. 898,

SUPPLEMENTARY OR SPECIAL PLAN PROVISIONS.—For ^°^*

purposes of this paragraph, the term "supplementary or special plan provision" means any plan provision which— (i) provides supplementary benefits, not in excess of one-third of the basic benefit, in the form of an annuity for the life of the participant, or (ii) provides that, under a contractual agreement based, on medical evidence as to the effects of working in an adverse environment for an extended period of time, a participant having 25 years of service is to be treated as having 30 years of service. (2) APPLICATION OP FUNDING RULES.—•

(A) IN GENERAL.—In the case of a plan maintained on January 1, 1974, pursuant to one or more agreements which the Secretary of Labor finds to be collective bargaining agreements between employee representatives and one or more employers, section 412 of the Internal Revenue Code of 1954, and other amendments made by this part to the extent such amendments relate to such section 412, shall not apply during the special temporary waiver period (as defined in paragraph (1)(B)). (B) WAIVER OF UNDERFUNDING.—In the case of a plan maintained on January 1, 1974, pursuant to one or more agreements which the Secretary of Labor finds to be collective bargaining agreements between employee representatives and one or more employers, if by reason of subparagraph (A) the requirements of section 401(a)(7) of the Internal Revenue Code of 1954 apply without regard to the amendment of such section 401(a)(7) by section 1016(a)(2)(C) of this Act, the plan shall not be treated as not meeting such requirements solely by reason of the application of the amendments made by sections 1011 and 1012 of this Act or related amendment« made by this part. (C) LABOR ORGANIZATION CONVENTIONS.—In the case of a plan maintained, by a labor organization, which is exempt from tax under section 501(c)(5) of the Internal Revenue

38-194 O - 76 - 62 Pt. 1

'^"f^' P- 914.

26 USC 40i. ^"'^' P- ^29. ^"'^' PP-

901,

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