Page:United States Statutes at Large Volume 88 Part 1.djvu/979

 88 STAT. ] (g)

PUBLIC LAW 93-406-SEPT. 2, 1974

5i35

3-YEAR DELAY FOR CERTAIN PROVISIONS.—Subparagraphs (B)

and (C) of section 404(a)(1) shall apply only in the case of plan years Ante, p. 921. beginning on or after 3 years after the date of the enactment of this Act. (h)(1) Except as provided in paragraph (2), section 413 of the ^"'^' P- ^2'*Internal Revenue Code of 1954 shall apply to plan years beginning after December 31, 1953. (2)(A) For plan years beginning before the applicable effective date of section 410 of such Code, the provisions of paragraphs (1) '^"'^' P- ^^^• and (8) of subsection (b) of such section 413 shall be applied by substituting "401 (a)(3) " for "410". (B) For plan years beginning before the applicable effective date of section 411 of such Cwie, the provisions of subsection (b)(2) of ^"'«' P- ^oisuch section 413 shall be applied by substituting " 4 0 1 (a)(7) " for "411(d)(3)". (C)(i) The provisions of subsection (b)(4) of such section 413 shall not apply to plan years beginning before the applicable effective date of section 411 of such Code. (ii) The provisions of subsection (b)(5) (other than the second sentence thereof) of such section 413 shall not apply to plan years beginning before the applicable effective date of section 412 of such Code. ^"'"' P- ^1^PART 2—CERTAIN OTHER PROVISIONS RELATING TO QUALIFIED RETIREMENT PLANS SEC. 1021. ADDITIONAL PLAN REQUIREMENTS. (a)

JOINT AND SURVIVOR A N N U I T Y REQUIREMENT,—

(1) IN GENERAL.—Effective with rcspect to plan years beginning after December 31, 1975, section 401(a) (relating to requirements for qualification) is amended by inserting after paragraph (10) the following new paragraph: "(11)(A) A trust shall not constitute a qualified trust under this section if the plan of which such trust is a part provides for the payment of benefits in the form of an annuity unless such plan provides for the payment of annuity benefits in a form having the effect of a qualified joint and survivor annuity. " (B) Notwithstanding the provisions of subparagraph (A), in the case of a plan which provides for the payment of benefits before the normal retirement age (as defined in section 411 (a)(8)), the plan is not required to provide for the payment of annuity benefits in a form having the effect of a qualified joint and survivor annuity during the period beginnimr on the date on which the employee enters into the plan as a participant and ending on the later of— " (i) the date the employee reaches the earliest retirement age under the plan, or " (ii) the first day of the 120th month beginning before the date on which the employee reaches normal retirement age. " (C) A plan described in subparagraph (B) does not meet the requirements of subparagraph (A) unless, under the plan, a participant has a reasonable period during which he may elect the qualified joint and survivor annuity form with respect to the period beginning on the date on which the period described in subparagraph (B) ends and ending on the date on which he reaches normal retirement age (as defined in section 411(a)(8)) if he continues his employment during that period. A plan does not meet the requirements of this subparagraph unless, in the case of such an election, the payments under the survivor annuity are not less than the payments which would have been made under the

26 USC 401 note.

ie'usc 401

�