Page:United States Statutes at Large Volume 94 Part 1.djvu/1353

 PUBLIC LAW 96-364—SEPT. 26, 1980

94 STAT. 1303

"PART 8—REORGANIZATION; MINIMUM CONTRIBUTION REQUIREMENT FOR MULTIEMPLOYER PLANS

"Sec. "Sec. "Sec. "Sec. "Sec. "Sec.

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4241. Reorganization status. 4242. Notice of reorganization and funding requirements. 4243. Minimum contribution requirement. 4244. Overburden credit against minimum contribution requirement. 4244A. Adjustments in accrued benefits. 4245. Insolvent plans. "PART 4—FINANCIAL ASSISTANCE

"Sec. 4261. Financial assistance. "PART 5—BENEFITS AFTER TERMINATION

"Sec. 4281. Benefits under certain terminated plans. "PART 6—ENFORCEMENT

"Sec. 4301. Civil actions. "Sec. 4302. Penalty for failure to provide notice. "Sec. 4303. Election of plan status. "Subtitle F—Transition Rules and Effective Dates "Sec. 4401. Amendment to Internal Revenue Code of 1954. "Sec. 4402. Transition rules and effective dates. "Sec. 4403. Election of plan status.". SEC. 405. ACTION TAKEN BEFORE REGULATIONS ARE PRESCRIBED.

(a) Except as otherwise provided in the amendments made by this Act and in subsection Qj), if the way in which any such amendment will apply to a particular circumstance is to be set forth in regulations, any reasonable action during the period before such regulations take effect shall be treated as complying with such regulations for such period. Ob) Subsection (a) shall not apply to any action which violates any instruction issued, or temporary rule prescribed, by the agency having jurisdiction but only if such instruction or rule was published, or furnished to the party taking the action, before such action was taken. SEC. 406. PENSION BENEFIT GUARANTY CORPORATION PUT ON BUDGET. (a) Paragraph (2) of section 4002(g) is amended to read as follows: "(2) The receipts and disbursements of the corporation in the discharge of its functions shall be included in the totals of the budget of the United States Government. The United States is not liable for any obligation or liability incurred by the corporation.". (b) The amendment made by subsection (a) shall apply to fiscal years beginning after September 30, 1980. SEC. 407. CHURCH PLANS. (a) Section 3(33) is amended to read as follows: "(33)(A) The term 'church plan' means a plan established and maintained (to the extent required in clause (ii) of subparagraph (B)) for its employees (or their beneficiaries) by a church or by a convention or association of churches which is exempt from tax under section 501 of the Internal Revenue Code of 1954. "(B) The term 'church plan' does not include a plan— "(i) which is established and maintained primarily for the benefit of employees (or their beneficiaries) of such church or convention or association of churches who are employed in

29 USC 1461 note.

29 USC 1302.

Effective date. 29 USC 1302 note. 29 USC 1002. "Church plan.'

26 USC 50i.

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