,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #aijg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #bg1 #bjai ,mr4  
,bu*anan 7= himself & ,mr4 ,k9d7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,education & ,labor1 & 
9 addition to ! ,committee on ,ways &   
,means1 = a p]iod to be subsequ5tly     
det]m9$ by ! ,speak]1 9 ea* case =      
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to am5d ! ,int]nal ,rev5ue    
,code ( #aihf to modify ! qualification 
requirem5ts ) respect to c]ta9 multiple 
employ] plans ) pool$ plan provid]s1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,retirem5t         
,security = ,am]ican ,work]s ,act4  #b4 
,multiple employ] plans ) pool$ plan    
provid]s  7a7 ,qualification requirem5ts
 ,section #dac ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+ new subsection3  7e7           
,application ( qualification requirem5ts
 = c]ta9 multiple employ] plans ) pool$ 

plan provid]s  7#a7 ,9 g5]al ,except z  
provid$ 9 p>agraph 7#b71 if a def9$     
contribution plan to :i* subsection 7c7 
applies-- 7,a7 is sponsor$ by employ]s t
 bo? h a common int]e/ o!r ?an hav+     
adopt$ ! plan & control ! plan1 or  7,b7
 9 ! case ( a plan n describ$ 9         
subp>agraph 7,a71 has a pool$ plan      
provid]1  !n ! plan %all n be treat$ z  
fail+ to meet ! requirem5ts "u ?is title
 applicable to a plan describ$ 9 section
 #dja7;a7 or to a plan t consi/s (      
individual retirem5t acc\nts describ$ 9 
section #djh ( su* ,code 7includ+ by    
reason ( subsection 7c7 !re(71 :i*ev] is
 applicable1 m]ely because "o or m      
employ]s ( employees cov]$ by ! plan    
fail to take su* actions z are requir$ (
 su* employ]s = ! plan to meet su*      
requirem5ts4  7#b7 ,limitations  7,a7 ,9
 g5]al ,p>agraph 7#a7 %all n apply to   
any plan unless ! t]ms ( ! plan provide 
t 9 cases ( employ]s fail+ to take !    
actions describ$ 9 p>agraph 7#a7--  7i7 
! assets ( ! plan attributable to       

employees ( ! employ] w be transf]r$ to 
a plan ma9ta9$ only by ! employ] 7or its
 successor71 to an eligible retirem5t   
plan z def9$ 9 section #djb7;c77#h77;,b7
 = ea* individual ^: acc\nt is          
transf]r$1 or to any o!r arrangem5t t ! 
,secret>y det]m9es is appropriate1      
unless ! ,secret>y det]m9es x is 9 ! be/
 int]e/s ( su* employees to reta9 !     
assets 9 ! plan1 &  7ii7 ! employ]      
describ$ 9 clause 7i7 7& n ! plan )     
respect to :i* ! failure occurr$ or any 
o!r p>ticipat+ employ] 9 su* plan7 %all1
 except to ! ext5t provid$ by !         
,secret>y1 be liable = any liabilities )
 respect to su* plan attributable to    
employees ( ! employ]4  7,b7 ,failures  
by pool$ plan provid]s ,if ! pool$ plan 
provid] ( a plan describ$ 9 p>agraph    
7#a77;,b7 does n p]=m sub/antially all (
 ! adm9i/rative duties :i* are requir$ (
 ! provid] "u p>agraph 7#c77;,a77i7 =   
any plan ye>1 ! ,secret>y1 9 !          
,secret>y's own discretion1 may provide 
t ! det]m9ation z to :e!r ! plan meets !

 requirem5ts "u ?is title applicable to 
a plan describ$ 9 section #dja7;a7 or to
 a plan t consi/s ( individual retirem5t
 acc\nts describ$ 9 section #djh ( su*  
,code 7includ+ by reason ( subsection   
7c7 !re(71 :i*ev] is applicable1 %all be
 made 9 ! same mann] z w\ld be made )\t 
reg>d to p>agraph 7#a74  7#c7 ,pool$    
plan provid] ,= purposes ( ?is          
subsection--  7,a7 ,9 g5]al ,! t]m pool$
 plan provid] means1 ) respect to any   
plan1 a p]son :o-- 7i7 is designat$ by !
 t]ms ( ! plan z a nam$ fiduci>y 7z     
def9$ 9 section #djb7;a77#b7 ( !        
,employee ,retirem5t ,income ,security  
,act ( #aigd71 z ! plan adm9i/rator1 & z
 ! p]son responsible to p]=m all        
adm9i/rative duties 7includ+ conduct+   
prop] te/+ ) respect to ! plan &        
employees ( ea* p>ticipat+ employ]7 :i* 
are reasonably necess>y to ensure t--   
7,i7 ! plan meets ! requirem5ts ( !     
,employee ,retirem5t ,income ,security  
,act ( #aigd & any requirem5t applicable
 "u ?is title to a plan describ$ 9      

section #dja7;a7 or to a plan t consi/s 
( individual retirem5t acc\nts describ$ 
9 section #djh ( su* ,code 7includ+ by  
reason ( subsection 7c7 !re(71 :i*ev] is
 applicable1 &  7,,ii7 ea* p>ticipat+   
employ] takes su* actions z ! ,secret>y 
or su* p]son det]m9es necess>y = ! plan 
to meet ! requirem5ts describ$ 9        
subclause 7,i71 includ+ provid+ to su*  
p]son any disclosures or o!r in=mation  
:i* ! ,secret>y may require or :i* su*  
p]son o!rwise det]m9es is necess>y to   
adm9i/] ! plan or to all[ ! plan to meet
 su* requirem5ts1  7ii7 regi/]s z a     
pool$ plan provid] ) ! ,secret>y1 &     
provides su* o!r in=mation to !         
,secret>y z ! ,secret>y may require1    
be=e beg9n+ op]ations z a pool$ plan    
provid]1  7iii7 ackn[l$ges 9 writ+ t su*
 p]son is a nam$ fiduci>y 7)9 ! mean+ ( 
section #djb7;a77#b7 ( ! ,employee      
,retirem5t ,income ,security ,act (     
#aigd71 & ! plan adm9i/rator1 ) respect 
to ! plan1 &  7iv7 is responsible =     
ensur+ t all p]sons :o h&le assets (1 or

 :o are fiduci>ies (1 ! plan are bond$ 9
 accordance ) section #dab ( ! ,employee
 ,retirem5t ,income ,security ,act (    
#aigd4  7,b7 ,audits1 exam9ations &     
inve/igations ,! ,secret>y may p]=m     
audits1 exam9ations1 & inve/igations (  
pool$ plan provid]s z may be necess>y to
 en=ce & c>ry out ! purposes ( ?is      
subsection4  7#d7 ,guidance  7,a7 ,9    
g5]al ,! ,secret>y %all issue su*       
guidance z ! ,secret>y det]m9es         
appropriate to c>ry out ?is subsection1 
includ+ guidance-- 7i7 to id5tify !     
adm9i/rative duties & o!r actions       
requir$ to be p]=m$ by a pool$ plan     
provid] "u ?is subsection1  7ii7 :i*    
describes ! proc$ures to be tak5 to     
t]m9ate a plan :i* fails to meet !      
requirem5ts to be a plan describ$ 9     
p>agraph 7#a71 includ+ ! prop] treatm5t 
(1 & actions ne$$ to be tak5 by1 any    
p>ticipat+ employ] ( ! plan & ! assets &
 liabilities ( ! plan ) respect to      
employees ( t employ]1 &  7iii7 id5tify+
 appropriate cases to :i* ! rules (     

p>agraph 7#b77;,a7 w apply to employ]s  
fail+ to take ! actions describ$ 9      
p>agraph 7#a74  ,! ,secret>y %all take  
into acc\nt "u subp>agraph 7,c7 :e!r !  
failure ( an employ] or pool$ plan      
provid] to provide any disclosures or   
o!r in=mation1 or to take any o!r       
action1 necess>y to adm9i/] a plan or to
 all[ a plan to meet requirem5ts        
applicable to ! plan "u section #dja7;a7
 has cont9u$ ov] a p]iod ( "t t cle>ly  
demon/rates a lack ( commitm5t to       
compliance4  7,b7 ,prospective          
application ,any guidance issu$ by !    
,secret>y "u ?is p>agraph %all n apply  
to any action or failure occurr+ be=e ! 
issuance ( su* guidance4  7#e7 ,model   
plan ,! ,secret>y %all1 9 consultation )
 ! ,secret>y ( ,labor :5 appropriate1   
publi% model plan language :i* meets !  
requirem5ts ( ?is subsection & (        
p>agraphs 7#dc7 & 7#dd7 ( section #c ( !
 ,employee ,retirem5t ,income ,security 
,act ( #aigd & :i* may be adopt$ to be  
treat$ z a pool$ employ] plan4  4  7b7  

,no common int]e/ requir$ = pool$       
employ] plans ,section #c7b7 ( !        
,employee ,retirem5t ,income ,security  
,act ( #aigd 7#bi ,u4,s4,c4 #ajjb7b77 is
 am5d$ by add+ at ! end ! foll[+3  7,c7 
,a pool$ employ] plan %all be treat$ z--
  7i7 a s+le employee p5sion b5efit plan
 or s+le p5sion plan2 &  7ii7 a plan to 
:i* section #baj7;a7 applies4  4  7c7   
,pool$ employ] plan & provid] def9$     
7#a7 ,9 g5]al ,section #c ( ! ,employee 
,retirem5t ,income ,security ,act (     
#aigd 7#bi ,u4,s4,c4 #ajjb7 is am5d$ by 
add+ at ! end ! foll[+3  7#dc7 ,pool$   
employ] plan  7,a7 ,9 g5]al ,! t]m pool$
 employ] plan means a plan--  7i7 :i* is
 an individual acc\nt plan e/abli%$ or  
ma9ta9$ = ! purpose ( provid+ b5efits to
 ! employees ( two or m employ]s2  7ii7 
:i* is a plan describ$ 9 section        
#dja7;a7 ( ! ,int]nal ,rev5ue ,code (   
#aihf :i* includes a tru/ exempt f tax  
"u section #eja7;a7 ( su* ,code or a    
plan t consi/s ( individual retirem5t   
acc\nts describ$ 9 section #djh ( su*   

,code 7includ+ by reason ( subsection   
7c7 !re(72 &  7iii7 ! t]ms ( :i* meet ! 
requirem5ts ( subp>agraph 7,b74  ,su*   
t]m %all n include a plan ) respect to  
:i* ! p>ticipat+ employ]s bo? %>e a     
common int]e/ o!r ?an p>ticipation 9 !  
plan & control ! plan4  7,b7            
,requirem5ts = plan t]ms ,! requirem5ts 
( ?is subp>agraph are met ) respect to  
any plan if ! t]ms ( ! plan--  7i7      
designate a pool$ plan provid] & provide
 t ! pool$ plan provid] is a nam$       
fiduci>y ( ! plan2  7ii7 designate "o or
 m tru/ees meet+ ! requirem5ts ( section
 #djh7;a77#b7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf 7o!r ?an a p>ticipat+ employ]7 
to be responsible = collect+            
contributions to1 & hold+ ! assets (1 ! 
plan & require su* tru/ees to implem5t  
writt5 contribution collection proc$ures
 t are reasonable1 dilig5t1 & sy/ematic2
  7iii7 provide t ea* p>ticipat+ employ]
 reta9s fiduci>y responsibility =-- 7,i7
 ! selection & monitor+ 9 accordance )  
section #djd7;a7 ( ! p]son designat$ z !

 pool$ plan provid] & any o!r p]son :o1 
9 addition to ! pool$ plan provid]1 is  
designat$ z a nam$ fiduci>y ( ! plan2 & 
7,,ii7 to ! ext5t n o!rwise delegat$ to 
ano!r fiduci>y by ! pool$ plan provid] &
 subject to ! provisions ( section      
#djd7;c71 ! inve/m5t & managem5t ( t    
portion ( ! plan's assets attributable  
to ! employees ( t p>ticipat+ employ]2  
7iv7 provide t a p>ticipat+ employ]1 or 
a p>ticipant or b5efici>y1 is n subject 
to unreasonable re/rictions1 fees1 or   
p5alties ) reg>d to ceas+ p>ticipation1 
receipt ( di/ributions1 or o!rwise      
transf]r+ assets ( ! plan 9 accordance )
 section #bjh2  7v7 require-- 7,i7 !    
pool$ plan provid] to provide to        
p>ticipat+ employ]s any disclosures or  
o!r in=mation :i* ! ,secret>y may       
require1 includ+ any disclosures or o!r 
in=mation to facilitate ! selection or  
any monitor+ ( ! pool$ plan provid] by  
p>ticipat+ employ]s2 &  7,,ii7 ea*      
p>ticipat+ employ] to take su* actions z
 ! ,secret>y or ! pool$ plan provid]    

det]m9es necess>y to adm9i/] ! plan or =
 ! plan to meet ! requirem5ts ( ?is ,act
 or any requirem5t applicable "u !      
,int]nal ,rev5ue ,code ( #aihf to a plan
 describ$ 9 section #dja7;a7 ( su* ,code
 or to a plan t consi/s ( individual    
retirem5t acc\nts describ$ 9 section    
#djh ( su* ,code 7includ+ by reason (   
subsection 7c7 !re(71 :i*ev] is         
applicable1 includ+ provid+ any         
disclosures or o!r in=mation :i* !      
,secret>y may require or :i* ! pool$    
plan provid] o!rwise det]m9es is        
necess>y to adm9i/] ! plan or to all[ ! 
plan to meet su* requirem5ts2 &  7vi7   
provide t any disclosure or o!r         
in=mation requir$ to be provid$ "u      
clause 7v7 may be provid$ 9 electronic  
=m & w be design$ to ensure only        
reasonable co/s are impos$ on pool$ plan
 provid]s & p>ticipat+ employ]s4  7,c7  
,exceptions ,! t]m pool$ employ] plan   
does n include-- 7i7 a multiemploy]     
plan2 or  7ii7 a plan e/abli%$ be=e     
,janu>y #a1 #bjaf1 unless ! plan        

adm9i/rator elects t ! plan w be treat$ 
z a pool$ employ] plan & ! plan meets ! 
requirem5ts ( ?is title applicable to a 
pool$ employ] plan e/abli%$ on or aft]  
su* date4  7#dd7 ,pool$ plan provid]    
7,a7 ,9 g5]al ,! t]m pool$ plan provid] 
means a p]son :o--  7i7 is designat$ by 
! t]ms ( a pool$ employ] plan z ! plan  
adm9i/rator & z ! p]son responsible = ! 
p]=mance ( all adm9i/rative duties      
7includ+ conduct+ prop] te/+ ) respect  
to ! plan & employees ( ea* p>ticipat+  
employ]7 :i* are reasonably necess>y to 
ensure t-- 7,i7 ! plan meets !          
requirem5ts ( ?is ,act & any requirem5t 
applicable "u ! ,int]nal ,rev5ue ,code (
 #aihf to a plan describ$ 9 section     
#dja7;a7 ( su* ,code or to a plan t     
consi/s ( individual retirem5t acc\nts  
describ$ 9 section #djh ( su* ,code     
7includ+ by reason ( subsection 7c7     
!re(71 :i*ev] is applicable2 &  7,,ii7  
ea* p>ticipat+ employ] takes su* actions
 z ! ,secret>y or pool$ plan provid]    
det]m9es necess>y = ! plan to meet !    

requirem5ts describ$ 9 subclause 7,i71  
includ+ provid+ ! disclosures &         
in=mation describ$ 9 p>agraph           
7#dc77;,b77v77,,ii72  7ii7 regi/]s z a  
pool$ plan provid] ) ! ,secret>y1 &     
provides to ! ,secret>y su* o!r         
in=mation z ! ,secret>y may require1    
be=e beg9n+ op]ations z a pool$ plan    
provid]2  7iii7 ackn[l$ges 9 writ+ t su*
 p]son is a nam$ fiduci>y1 & ! plan     
adm9i/rator1 ) respect to ! pool$       
employ] plan2 &  7iv7 is responsible =  
ensur+ t all p]sons :o h&le assets (1 or
 :o are fiduci>ies (1 ! pool$ employ]   
plan are bond$ 9 accordance ) section   
#dab4  7,b7 ,audits1 exam9ations &      
inve/igations ,! ,secret>y may p]=m     
audits1 exam9ations1 & inve/igations (  
pool$ plan provid]s z may be necess>y to
 en=ce & c>ry out ! purposes ( ?is      
p>agraph & p>agraph 7#dc74  7,c7        
,guidance ,! ,secret>y %all issue su*   
guidance z ! ,secret>y det]m9es         
appropriate to c>ry out ?is p>agraph &  
p>agraph 7#dc71 includ+ guidance--  7i7 

to id5tify ! adm9i/rative duties & o!r  
actions requir$ to be p]=m$ by a pool$  
plan provid] "u ei!r su* p>agraph2 &    
7ii7 :i* requires 9 appropriate cases t 
if a p>ticipat+ employ] fails to take ! 
actions requir$ "u subp>agraph          
7,a77i77,,ii7--  7,i7 ! assets ( ! plan 
attributable to employees ( ! p>ticipat+
 employ] are transf]r$ to a plan ma9ta9$
 only by ! p>ticipat+ employ] 7or its   
successor71 to an eligible retirem5t    
plan z def9$ 9 section #djb7;c77#h77;,b7
 ( ! ,int]nal ,rev5ue ,code ( #aihf =   
ea* individual ^: acc\nt is transf]r$1  
or to any o!r arrangem5t t ! ,secret>y  
det]m9es is appropriate 9 su* guidance2 
&  7,,ii7 ! p>ticipat+ employ] describ$ 
9 subclause 7,i7 7& n ! plan ) respect  
to :i* ! failure occurr$ or any o!r     
p>ticipat+ employ] 9 su* plan7 %all1    
except to ! ext5t provid$ 9 su*         
guidance1 be liable = any liabilities ) 
respect to su* plan attributable to     
employees ( ! p>ticipat+ employ]4  ,!   
,secret>y %all take into acc\nt "u      

clause 7ii7 :e!r ! failure ( an employ] 
or pool$ plan provid] to provide any    
disclosures or o!r in=mation1 or to take
 any o!r action1 necess>y to adm9i/] a  
plan or to all[ a plan to meet          
requirem5ts describ$ 9 subp>agraph      
7,a77i77,,ii7 has cont9u$ ov] a p]iod ( 
"t t cle>ly demon/rates a lack (        
commitm5t to compliance4 ,! ,secret>y   
may waive ! requirem5ts ( clause        
7ii77,i7 9 appropriate circum/ances if !
 ,secret>y det]m9es x is 9 ! be/ int]e/s
 ( ! employees ( ! p>ticipat+ employ]   
describ$ 9 su* clause to reta9 ! assets 
9 ! plan ) respect to :i* ! employ]'s   
failure occurr$4  7,d7 ,aggregation     
rules ,= purposes ( ?is p>agraph-- 7i7  
,9 g5]al ,9 det]m9+ :e!r a p]son meets !
 requirem5ts ( ?is p>agraph to be a     
pool$ plan provid] ) respect to any     
plan1 all p]sons :o are memb]s ( ! same 
controll$ gr\p & :o p]=m s]vices = !    
plan %all be treat$ z "o p]son4  7ii7   
,memb]s ( common gr\p ,p]sons %all be   
treat$ z memb]s ( ! same controll$ gr\p 

if su* p]sons are treat$ z a s+le       
employ] "u subsection 7c7 or 7d7 (      
section #baj4  4  7#b7 ,employee treat$ 
z ex]cis+ control ov] assets ,section   
#djd7;c7 ( ! ,employee ,retirem5t       
,income ,security ,act ( #aigd 7#bi     
,u4,s4,c4 #aajd7;c77 is am5d$ by add+ at
 ! end ! foll[+ new p>agraph3  7#f7 ,9 !
 case ( a pool$ employ] plan t consi/s (
 individual retirem5t acc\nts describ$ 9
 section #djh ( ! ,int]nal ,rev5ue ,code
 ( #aihf 7includ+ by reason ( subsection
 7c7 !re(7 & t includes an automatic    
contribution arrangem5t meet+ !         
requirem5ts ( section #ead7;e7 7det]m9$ 
)\t reg>d to p>agraph 7#b77;,c7 !re(71 a
 p>ticipant or b5efici>y %all1 =        
purposes ( p>agraph 7#a71 be treat$ z   
ex]cis+ control ov] ! assets 9 ! acc\nt 
^u ! e>lie/ (-- 7,a7 an affirmative     
election among inve/m5t options )       
respect to ! initial inve/m5t ( any     
contribution1  7,b7 a rollov] to any o!r
 individual retirem5t acc\nt1 or  7,c7  
"o ye> aft] ! individual retirem5t      

acc\nt is e/abli%$4  4  7#c7 ,bond+     
requirem5ts = pool$ employ] plans ,! la/
 s5t5ce ( section #dab7;a7 ( ! ,employee
 ,retirem5t ,income ,security ,act (    
#aigd 7#bi ,u4,s4,c4 #aaab7;a77 is am5d$
 by ins]t+ or 9 ! case ( a pool$ employ]
 plan aft] section #djg7;d77#a774  7#d7 
,con=m+ & te*nical am5dm5ts ,section #c 
( ! ,employee ,retirem5t ,income        
,security ,act ( #aigd 7#bi ,u4,s4,c4   
#ajjb7 is am5d$--  7,a7 9 p>agraph      
7#af77;,b7-- 7i7 by /rik+ or at ! end ( 
clause 7ii72 &  7ii7 by /rik+ ! p]iod at
 ! end & ins]t+ 1 or 7iv7 9 ! case ( a  
pool$ employ] plan1 ! pool$ plan        
provid]42 &  7,b7 by /rik+ ! second     
p>agraph 7#da74  7d7 ,effective date    
7#a7 ,9 g5]al ,! am5dm5ts made by ?is   
section %all apply to ye>s beg9n+ aft]  
,decemb] #ca1 #bjah4  7#b7 ,rule (      
con/ruction ,no?+ 9 ! am5dm5t made by   
subsection 7c7 %all be con/ru$ z limit+ 
! au?ority ( ! ,secret>y ( ! ,treasury  
or ! ,secret>y's delegate 7det]m9$ )\t  
reg>d to su* am5dm5t7 to provide = !    

prop] treatm5t ( a failure to meet any  
requirem5t applicable "u ! ,int]nal     
,rev5ue ,code ( #aihf ) respect to "o   
employ] 7& its employees7 9 a multiple  
employ] plan4  #c4 ,pool$ employ] &     
multiple employ] plan report+  7a7      
,additional in=mation ,section #ajc ( ! 
,employee ,retirem5t ,income ,security  
,act ( #aigd 7#bi ,u4,s4,c4 #ajbc7 is   
am5d$-- 7#a7 9 subsection 7a77#a77;,b71 
by /rik+ applicable subsections 7d71    
7e71 & 7f7 & ins]t+ applicable          
subsections 7d71 7e71 7f71 & 7g72 &     
7#b7 by am5d+ subsection 7g7 to read z  
foll[s3  7g7 ,additional in=mation )    
respect to pool$ employ] & multiple     
employ] plans ,an annual report "u ?is  
section = a plan ye> %all include--     
7#a7 ) respect to any plan to :i*       
section #baj7;a7 applies 7includ+ a     
pool$ employ] plan71 a li/ ( p>ticipat+ 
employ]s & a good fai? e/imate ( !      
p]c5tage ( total contributions made by  
su* p>ticipat+ employ]s dur+ ! plan ye>2
 &  7#b7 ) respect to a pool$ employ]   

plan1 ! id5tify+ in=mation = ! p]son    
designat$ "u ! t]ms ( ! plan z ! pool$  
plan provid]4  4  7b7 ,simplifi$ annual 
reports ,section #ajd7;a7 ( ! ,employee 
,retirem5t ,income ,security ,act (     
#aigd 7#bi ,u4,s4,c4 #ajbd7;a77 is am5d$
 by /rik+ p>agraph 7#b77;,a7 & ins]t+ ! 
foll[+3  7#b7 7,a7 ,) respect to annual 
reports requir$ to be fil$ ) ! ,secret>y
 "u ?is "p1 ! ,secret>y may by          
regulation prescribe simplifi$ annual   
reports = any p5sion plan t--  7i7 cov]s
 few] ?an #ajj p>ticipants2 or  7ii7 is 
a plan describ$ 9 section #baj7;a7 t    
cov]s few] ?an #a1jjj p>ticipants1 b    
only if no s+le p>ticipat+ employ] has m
 ?an #ajj p>ticipants cov]$ by ! plan4  
4  7c7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to annual     
reports = plan ye>s beg9n+ aft] ,decemb]
 #ca1 #bjah4