,,ii #aag? ,,congress #a/ ,session ,s4 #ehi ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #d1 #bjba ,mr4 ,grassley introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf & ! ,employee ,retirem5t ,income ,security ,act ( #aigd to re=m ! treatm5t ( multiemploy] plans1 to ensure ! ability ( ! ,p5sion ,b5efit ,gu>anty ,corporation to provide gu>ante$ b5efits ( retirees1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4 ,,title ,i--,re/ructur+ p5sion insurance = multiemploy] def9$ b5efit p5sion plans ,subtitle ,a--,special p>titions ( eligible multiemploy] plans ,sec4 #aja4 ,special p>titions ( eligible multiemploy] plans4 ,subtitle ,b--,,pbgc re=ms ,sec4 #aaa4 ,gu>antee rate increase = plans receiv+ f9ancial assi/ance4 ,sec4 #aab4 ,am5dm5t to def9ition ( insolv5cy4 ,sec4 #aac4 ,t]m9ation ( multiemploy] plans4 ,sec4 #aad4 ,b5efits "u c]ta9 t]m9at$ plans4 ,subtitle ,c--,p5sion insurance model+ ,sec4 #aba4 ,p5sion insurance model+4 ,,title ,,ii--,fund+ rules1 )drawal liability1 & o!r re=ms ,subtitle ,a--,m9imum fund+ /&>d = multiemploy] plans ,sec4 #bja4 ,valuation ( plan liabilities4 ,subtitle ,b--,additional fund+ rules = multiemploy] plans ,"p ,i--,plan /atus am5dm5ts ,sec4 #baa4 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf4 ,sec4 #bab4 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd4 ,sec4 #bac4 ,transition rules4 ,"p ,,ii--,provisions relat+ to plan m]g]s ,sec4 #bba4 ,provisions relat+ to plan m]g]s & consolidations4 ,sec4 #bbb4 ,cl>ification ( ,,pbgc f9ancial assi/ance = plan m]g]s & p>titions4 ,sec4 #bbc4 ,re/oration n requir$ = c]ta9 m]g]s4 ,"p ,,iii--,)drawal liability re=m ,sec4 #bca4 ,)drawal liability re=m4 ,,title ,,iii--,plan gov]nance1 disclosure1 & o!r re=ms = multiemploy] def9$ b5efit p5sion plans ,subtitle ,a--,plan gov]nance & op]ations = multiemploy] plans ,sec4 #cja4 ,indep5d5t tru/ees4 ,sec4 #cjb4 ,inve/igatory au?ority4 ,sec4 #cjc4 ,conditions on f9ancial assi/ance4 ,sec4 #cjd4 ,excise tax on excess comp5sation ( cov]$ employees ( p>tition$ multiemploy] plans4 ,subtitle ,b--,reportable ev5ts = multiemploy] plans ,sec4 #caa4 ,reportable ev5ts4 ,subtitle ,c--,fund+ notices to p>ticipants 9 multiemploy] plans ,sec4 #cba4 ,improv$ multiemploy] plan disclosure4 ,sec4 #cbb4 ,p5alties = failure to provide notices4 ,subtitle ,d--,consi/5cy ( crim9al p5alties ,sec4 #cca4 ,consi/5cy ( crim9al p5alties4 ,,title ,,iv--,o!r multiemploy] plan re=ms ,sec4 #dja4 ,cl>ification ( fiduci>y duty ( retiree repres5tative :o is a tru/ee4 ,sec4 #djb4 ,safe h>bors4 ,sec4 #djc4 ,cl>ification ( notice & comm5t process4 ,sec4 #djd4 ,protection ( p>ticipants receiv+ disability b5efits4 ,sec4 #dje4 ,model notice4 ,,title ,v--,alt]native plan /ructures ,sec4 #eja4 ,composite plans4 ,sec4 #ejb4 ,application ( c]ta9 requirem5ts to composite plans4 ,sec4 #ejc4 ,treatm5t ( composite plans "u title ,,iv4 ,sec4 #ejd4 ,con=m+ *anges4 ,sec4 #eje4 ,effective date4 ,,title ,,vi--,f9ancial provisions ,sec4 #fja4 ,additional premiums4 ,sec4 #fjb4 ,fund+4 ,sec4 #fjc4 ,composite plan transition fee4 ,i ,re/ructur+ p5sion insurance = multiemploy] def9$ b5efit p5sion plans ,a ,special p>titions ( eligible multiemploy] plans #aja4 ,special p>titions ( eligible multiemploy] plans 7a7 ,9 g5]al ,title ,,iv ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acja et seq47 is am5d$ by ins]t+ aft] section #dbcc ! foll[+3 #dbcc;,a4 ,special p>titions ( eligible multiemploy] plans 7a7 ,9 g5]al 7#a7 ,requirem5t to ord] p>tition ,^u ! application by ! plan sponsor ( an eligible multiemploy] plan describ$ 9 subsection 7b7 = a p>tition ( ! plan1 ! corporation %all ord] a p>tition ( ! plan 9 accordance ) ?is section1 provid$ ! o!r requirem5ts 9 ?is section are met4 ,! corporation %all make a det]m9ation reg>d+ ! application n lat] ?an #aej days aft] ! date su* application 0 fil$ 7or1 if lat]1 ! date su* application 0 complet$7 9 accordance ) regulations t %all be issu$ by ! corporation "u subsection 7h74 7#b7 ,notification ( p>ticipants ,n lat] ?an #cj days aft] submitt+ an application = p>tition ( a plan "u p>agraph 7#a71 ! plan sponsor ( ! plan %all notify ! p>ticipants & b5efici>ies ( su* application1 9 ! =m & mann] prescrib$ by ! corporation4 7#c7 ,implem5tation ( transf] ,! corporation %all implem5t ! p>tition ord] issu$ "u ?is section n lat] ?an #fj days aft] ! completion ( ! corporation's det]m9ation "u p>agraph 7#a74 7#d7 ,fil+ date ( application ,p>titions "u ?is section %all apply only ) respect to any eligible multiemploy] plan ^: plan sponsor files an application t is det]m9$ by ! corporation to be complete pursuant to regulations issu$ by ! corporation "u subsection 7h77#a7 & t is fil$ by ! lat] ( ! "t specifi$ 9 su* regulations or #a ye> aft] ! corporation issues su* regulations4 7b7 ,eligible multiemploy] plan ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m eligible multiemploy] plan means a multiemploy] plan t meets any ( ! foll[+ conditions3 7,a7 ,! plan became insolv5t 7z describ$ 9 section #dbde7;b71 z 9 effect ! day be=e ! date ( enactm5t ( ?is section7 on or aft] ,decemb] #af1 #bjad1 & prior to ! date ( enactm5t ( ?is section & has n t]m9at$4 7,b7 ,! plan-- 7i7 7,i7 0 c]tifi$1 9 ! mo/ rec5t annual c]tification fil$ pursuant to section #cje7;b77#c7 7z 9 effect on ! day be=e ! date ( enactm5t ( ?is section7 be=e ! date ( enactm5t ( ?is section1 to be 9 critical & decl9+ /atus 7z def9$ 9 section #cje7;b77#f71 z s 9 effect71 & has n t]m9at$ z ( su* date2 7,,ii7 implem5t$ a susp5sion ( b5efits "u section #cje7;e77#i7 7z 9 effect on ! day be=e ! date ( enactm5t ( ?is section7 prior to ! date ( enactm5t ( ?is section2 7,,iii7 7aa7 0 c]tifi$1 9 ! mo/ rec5t annual c]tification fil$ pursuant to section #cje7;b77#c7 7z s 9 effect7 be=e ! date ( enactm5t ( ?is section1 to be 9 critical /atus 7z def9$ 9 section #cje7;b77#b71 z s 9 effect71 & has n t]m9at$ z ( su* date2 7bb7 has a fund$ p]c5tage t is less ?an #dj p]c5t on a curr5t liability basis1 bas$ on ! mo/ rec5t ,=m #eejj1 ,s*$ule ,,mb1 l9e #a;b7#a7 = curr5t value ( assets & l9e #a;d7#b77;a7 = curr5t liability1 fil$ be=e ! date ( enactm5t ( ?is section2 & 7cc7 has an active to inactive p>ticipant ratio t is bel[ #dj p]c5t z ( ! mo/ rec5t ,=m #eejj fil$ be=e ! date ( enactm5t ( ?is section2 or 7,,iv7 7aa7 0 c]tifi$1 9 ! mo/ rec5t annual c]tification fil$ pursuant to section #cje7;b77#c7 7z s 9 effect7 be=e ! date ( enactm5t ( ?is section1 to be 9 critical /atus 7z def9$ 9 section #cje7;b77#b71 z s 9 effect7 & has n t]m9at$ be=e su* date2 7bb7 has an active to total p>ticipant ratio t is bel[ #bj p]c5t z ( ! mo/ rec5t ,=m #eejj fil$ be=e ! date ( enactm5t ( ! section2 & 7cc7 has m ?an #ajj1jjj p>ticipants z ( ! mo/ rec5t ,=m #eejj fil$ be=e ! date ( enactm5t ( ! section2 & 7ii7 is n ! plan describ$ 9 section #igja7;a77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 det]m9$ )\t reg>d to ! limitation on p>ticipation to individuals :o retir$ 9 #aigf & !reaft]4 7#b7 ,eligible plans requir$ to file = p>tition 7,a7 ,9 g5]al ,an eligible multiemploy] plan 7o!r ?an a plan eligible "u p>agraph 7#a77;,b77i77,,ii77 %all file ) ! corporation = p>tition "u ?is section4 ,if an eligible plan requir$ "u ! prec$+ s5t5ce to file = p>tition does n s file 9 a timely mann]1 ! plan is subject to t]m9ation "u section #djdb4 7,b7 ,exception ,if a plan is reasonably det]m9$ to be ineligible = future adju/m5ts "u subsection 7j77#c77;,c77iii7-- 7i7 subp>agraph 7,a7 %all n apply to su* plan2 & 7ii7 su* plan may )draw ! p>tition application 7or1 z provid$ by ! corporation 9 regulations1 n submit su* application at all74 7c7 ,conditions = p>tition 7#a7 ,rate ( accruals 7,a7 ,9 g5]al ,z a condition ( any p>tition "u ?is section1 ! rate ( future accruals1 dur+ ! p]iod beg9n+ on ! date ( ! p>tition ord] & end+ #ae ye>s aft] ! effective date ( ! p>tition1 %all n exce$ ! less] (-- 7i7 a mon?ly b5efit 7payable z a s+le life annuity comm5c+ at ! p>ticipant's normal retirem5t age7 equal or equival5t to #a p]c5t ( ! annual contributions requir$ to be made ) respect to a p>ticipant z ( ! fir/ day ( ! fir/ plan ye> t beg9s aft] ! date ( enactm5t ( ?is section2 or 7ii7 ! accrual rate "u ! plan on su* fir/ day4 7,b7 ,det]m9ation ( equival5t rate ,! plan sponsor may det]m9e ! equival5t rate ( future accruals bas$ on ! /&>d or av]age contribution base units :i* ! plan sponsor det]m9es to be repres5tative = active p>ticipants & su* o!r factors z ! plan sponsor det]m9es to be relevant4 ,su* det]m9ations by ! plan sponsor may be made on ! basis ( individual active p>ticipants1 gr\ps ( active p>ticipants1 or all active p>ticipants 9 total4 7,c7 ,special rule = future accruals ,to ! ext5t t ! rate ( future accruals exce$s ! limitation det]m9$ "u ?is p>agraph1 ! plan sponsor %all adju/ ! rate ( future accruals 9 accordance ) ?is p>agraph effective z ( ! date ( ! p>tition ord]4 7#b7 ,elim9ation ( adju/able b5efits ,z a condition ( any p>tition "u ?is section1 ! plan sponsor ( an eligible multiemploy] plan %all elim9ate all adju/able b5efits 9 ! nature ( an e>ly retirem5t subsidy 7includ+ a subsidiz$ e>ly retirem5t actu>ial r$uction factor7 = all p>ticipants n 9 pay /atus z ( ! date ( ! p>tition application4 ,no?+ 9 ?is p>agraph %all affect ! "r ( a p>ticipant to receive an unsubsidiz$ e>ly retirem5t b5efit4 7d7 ,successor plans & orig9al plans 7#a7 ,9 g5]al ,! plan creat$ by ! p>tition ord] is a successor plan to :i* section #djbb;,a applies4 7#b7 ,plan sponsor & plan adm9i/rator ,! plan sponsor ( an eligible multiemploy] plan prior to p>tition & ! adm9i/rator ( su* plan %all be ! plan sponsor & ! adm9i/rator1 respectively1 ( ! orig9al plan & ! successor plan creat$ by ! p>tition ord]4 7#c7 ,orig9al plan ,! rema9+ plan aft] b5efits h be5 transf]r$ to ! successor plan pursuant to ! p>tition ord] is ! orig9al plan4 ,b5efit paym5ts made by ! successor plan %all n con/itute a r$uction 9 b5efits ) respect to ! orig9al plan4 7e7 ,f9ancial assi/ance to successor plans f ! corporation 7#a7 ,9 g5]al ,^u approval ( an application fil$ pursuant to subsection 7i71 ! corporation %all provide f9ancial assi/ance to ea* successor plan ( an eligible multiemploy] plan4 7#b7 ,nonapplicability ( repaym5t rule ,f9ancial assi/ance provid$ to a successor plan pursuant to ?is subsection %all n be subject to ! requirem5ts ( section #dbfa7;b77#b71 except t ! corporation may condition receipt ( f9ancial assi/ance "u ?is subsection on reasonable t]ms consi/5t ) regulations prescrib$ by ! corporation to prev5t abuse ( ! multiemploy] plan program or prev5t unreasonable risk ( loss to ! corporation4 7f7 ,paym5t requirem5ts ( orig9al plan ,= ea* p>ticipant or b5efici>y ( ! plan ^: b5efit or portion !re( 0 transf]r$ to ! successor plan1 ! orig9al plan %all pay a mon?ly b5efit to su* p>ticipant or b5efici>y = ea* mon? 9 :i* su* b5efit is 9 pay /atus foll[+ ! effective date ( su* p>tition 9 an am\nt equal to ! excess (-- 7#a7 ! mon?ly b5efit t w\ld be paid to ! p>ticipant or b5efici>y "u ! t]ms ( ! orig9al plan _h ! transf] ( b5efits n occurr$ 7tak+ into acc\nt any applicable b5efit r$uctions or plan am5dm5ts foll[+ ! effective date ( ! p>tition72 ov] 7#b7 ! mon?ly b5efit = su* p>ticipant or b5efici>y t is paid by ! successor plan4 7g7 ,transf] ( b5efits 7#a7 ,9 g5]al ,a p>tition ord] "u subsection 7a7 %all provide = a transf] ( b5efits f ! orig9al plan to ! successor plan 9 ! am\nt necess>y = ! orig9al plan to be project$ to rema9 solv5t indef9itely1 z def9$ 9 section #a4dcb7;e77#i7-a7;d77#e77;ii7 ( title #bf1 ,code ( ,f$]al ,regulations 7exclud+ subp>agraph 7,a77#b771 z 9 effect on ! date on :i* su* regulations 7 issu$1 us+ actu>ial & o!r assumptions to be promulgat$ by ! corporation 9 ! regulations describ$ 9 subsection 7h77#d74 ,su* transf] am\nts %all be det]m9$ )\t respect to ! am\nt gu>ante$ "u section #djbb;,a4 7#b7 ,consid]ations 7,a7 ,9 g5]al ,9 det]m9+ ! transf] am\nt "u p>agraph 7#a71 ! corporation %all take into acc\nt all obligations ( ! orig9al plan1 includ+ ! paym5t ( b5efits requir$ "u subsection 7f7 9 excess ( ! am\nt paid by ! successor plan & all plan exp5ses & premium am\nts4 7,b7 ,projection ( assets & liabilities ,! am\nt ( ! transf] ( b5efits %all be bas$ on a projection ( plan assets & liabilities to ! project$ p>tition date1 z specifi$ 9 ! p>tition application1 &-- 7i7 ! projection ( plan assets %all be bas$ on ! fair m>ket value ( plan assets z ( ! end ( ! la/ plan ye> prec$+ ! date ( ! application1 ) appropriate adju/m5ts = actual or anticipat$ plan exp]i5ce ?r\gh ! project$ p>tition date2 & 7ii7 ! projection ( plan liabilities %all be bas$ on ! p>ticipant data us$ 9 ! mo/ rec5tly complet$ actu>ial valuation4 7#c7 ,special rule = insolv5t plans ,) respect to an insolv5t plan describ$ 9 subsection 7b77#a77;,a71 ! corporation %all provide f9ancial assi/ance to ! orig9al plan1 z ne$$ = ! plan to pay to ea* p>ticipant & b5efici>y 9 ! successor plan ! excess1 if any1 (-- 7,a7 ! mon?ly b5efit t w\ld be paid to ! p>ticipant or b5efici>y "u ! t]ms ( ! orig9al plan1 prior to insolv5cy1 _h ! transf] ( b5efits n occurr$ 7tak+ into acc\nt any applicable b5efit r$uctions or plan am5dm5ts foll[+ ! effective date ( ! p>tition72 ov] 7,b7 ! mon?ly b5efit = su* p>ticipant or b5efici>y t is paid by ! successor plan4 7h7 ,regulations 7#a7 ,9 g5]al ,! corporation %all issue regulations on ! requirem5ts = p>tition applications n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is section4 ,by regulation1 ! corporation may assign eligible multiemploy] plans into gr\ps1 bas$ on plan size 7prioritiz+ l>g] plans71 project$ date ( plan insolv5cy 7prioritiz+ plans expect$ to become insolv5t )9 #e ye>s71 or su* o!r factors z ! corporation deems appropriate1 = det]m9+ :5 an application = p>tition "u ?is section may be fil$4 ,any regulations issu$ "u ?is section %all be int]im f9al or f9al regulations4 7#b7 ,effect ( no regulation ,if ! corporation does n issue regulations )9 #ahj days aft] ! date ( enactm5t ( ?is section1 any applications = p>tition "u ?is section fil$ aft] ! date t is #ahj days aft] su* date ( enactm5t 7& prior to ! date regulations are issu$7 %all be deem$ to be approv$4 7#c7 ,rules = det]m9+ p>ticipants & b5efici>ies ,! regulations "u ?is subsection %all include rules = det]m9+ :i* p>ticipants & b5efici>ies are includ$ 9 ! transf] ( b5efits4 7#d7 ,actu>ial assumptions ,! regulations "u ?is subsection %all prescribe acceptable actu>ial assumptions1 = purposes ( an application1 relat+ to ! foll[+3 7,a7 ,future inve/m5t returns :i* mu/ be consi/5t ) ! applicable disc\nt rate "u section #cjd1 except t-- 7i7 9 no case %all ! assumption = future returns be less ?an #e4e p]c5t = purposes ( det]m9+ ! initial p>tition am\nt2 & 7ii7 9 no case1 :ile ! p>tition am\nt is be+ det]m9$ or :ile ! p>tition is 9 effect1 %all ! assumption us$ = det]m9+ adju/m5ts "u subsection 7j7 be less ?an ! less] (-- 7,i7 ! rate equal to ! #bd-mon? av]age ( ! ?ird segm5t rate 7z def9$ 9 section #cjc7;h77#b77;,c77iii771 z ( ! date ! det]m9ation is made1 )\t reg>d to section #cjc7;h77#b77;,c77iv71 increas$ by #b p]c5t2 or 7,,ii7 #e4e p]c5t4 7,b7 ,future contribution base units4 7,c7 ,future contribution rate increases1 tak+ into acc\nt ! adopt$ rehabilitation plan4 7,d7 ,future )drawal liability paym5ts4 7,e7 ,future adm9i/rative exp5ses4 7,f7 ,mortality4 7,g7 ,any o!r assumptions deem$ by ! corporation to be mat]ial4 7#e7 ,rules relat+ to assumptions 7,a7 ,in=mation requir$ ,= purposes ( p>agraph 7#d71 :5 prescrib+ acceptable actu>ial assumptions1 ! corporation %all n require a plan sponsor to obta9 data or o!r in=mation t a plan sponsor %\ld n reasonably be expect$ to h 9 its possession1 unless x c be obta9$ ) reasonable ef=t & exp5se4 7,b7 ,economic activity assumption ,= purposes ( p>agraph 7#d77;,b71 an assumption relat$ to future contribution base units %all be consid]$ reasonable & appropriate = purposes ( ! application "u ?is section1 provid$ t-- 7i7 if ! rec5t exp]i5ce ( ! plan has be5 decl9+ contribution base units1 ! plan actu>y may assume future contribution base units w cont9ue to decl9e at ! same annualiz$ tr5d z ov] ! #e imm$iately prec$+ plan ye>s unless su* assumption is unreasonable bas$ on crit]ia :i* may be prescrib$ by ! corporation by regulation1 & 7ii7 if ! rec5t exp]i5ce ( ! plan has be5 increas+1 or nei!r increas+ nor decreas+1 contribution base units1 ! plan actu>y may assume future contribution base units w rema9 un*ang$ indef9itely1 unless su* assumption is unreasonable bas$ on crit]ia ! corporation may prescribe4 7#f7 ,det]m9ation ( b5efits gu>antees ,! regulations "u ?is subsection %all include rules = det]m9+ ! am\nts ( b5efits gu>ante$ "u section #djbb;,a1 includ+ acceptable me?ods to approximate cr$it$ s]vice = p>ticipants & b5efici>ies 9 pay /atus :]e records _c reasonably be obta9$ by ! plan adm9i/rator4 7i7 ,p>tition applications 7#a7 ,9 g5]al ,an application = p>tition "u ?is section submitt$ by a plan sponsor %all be fil$ electronically & conta9 ! requir$ in=mation set =? 9 regulations promulgat$ by ! corporation4 7#b7 ,approval /&>ds ,! corporation %all approve a p>tition application if ! apply+ plan meets ! requirem5ts = a p>tition "u ?is section4 7#c7 ,evaluation ( initial transf] ,9 review+ an application "u ?is section1 ! plan %all propose ! initial am\nt ( ! transf] ( b5efits "u ! p>tition ord] t is requir$ "u subsection 7g77#a7 & ! corporation %all review & modify ! am\nt1 if applicable1 pursuant to its regulations4 7#d7 ,det]m9ations by ! corporation 7,a7 ,det]m9ation ( ineligibility ,if ! corporation det]m9es ! plan to be ineligible "u subsection 7b7 = a p>tition "u ?is section1 ! corporation %all notify ! plan sponsor 9 writ+ ( su* det]m9ation n lat] ?an #cj days aft] ! application is fil$4 ,su* notice %all specify ! reasons ! plan is ineligible = a special p>tition4 ,! applicant plan w h a p]iod ( at lea/ #fj days1 or long] if specifi$ by ! ,corporation ?r\gh regulations1 to modify its application1 :i* %all be subject to exp$it$ review by ! corporation &1 = purposes ( satisfy+ ! #a-ye> fil+ requirem5t = special p>tition1 w relate back to ! date ! application 0 initially fil$4 7,b7 ,incomplete applications ,if ! corporation det]m9es ! application by ! plan sponsor lacks in=mation necess>y = ! corporation to approve or d5y ! application1 ! corporation %all notify ! plan sponsor 9 writ+1 detail+ :i* compon5ts are miss+1 n lat] ?an #cj days aft] ! application is fil$4 ,no?+ 9 ! prec$+ s5t5ce %all prev5t ! corporation f ask+ ! plan sponsor at a lat] date = additional in=mation necess>y to det]m9e ! p>tition am\nt4 7,c7 ,factual submissions by plan sponsor ,! factual submissions made by a plan sponsor 9 a p>tition application1 includ+ p>ticipant data & b5efit calculations1 %all be presum$ to be correct1 unless cle>ly errone\s4 7j7 ,po/-,p>tition adju/m5ts 7#a7 ,process = adju/m5ts 7,a7 ,9 g5]al ,aft] b5efits h be5 transf]r$ "u ! p>tition ord]1 ! corporation %all1 at lea/ e ?ird ye> !reaft]1 adju/ ! transf] ( b5efits1 z necess>y to enable ! orig9al plan to be project$ to rema9 solv5t indef9itely1 consi/5t ) limitations on gu>ante$ b5efits 7if applicable "u p>agraph 7#c77;,c774 ,! adju/m5ts %all be made bas$ on su* proc$ures z ! corporation %all prescribe by regulation4 7,b7 ,plans project$ to be insolv5t ,if ! orig9al plan is n project$ to be solv5t #cj ye>s aft] any adju/m5t review date 7)\t reg>d to :e!r or n an adju/m5t takes place 9 connection ) su* date71 tak+ into acc\nt ! adju/m5ts p]mitt$ by ?is p>agraph1 su* plan %all electronically file a report ) ! corporation1 z ! corporation %all require by regulation4 ,if ! plan subsequ5tly reports = #c consecutive ye>s = :i* an adju/m5t review is conduct$ t ! plan is n project$ to be solv5t #cj ye>s aft] ! date ( ea* su* adju/m5t review1 ! plan %all be t]m9at$4 7#b7 ,basis = adju/m5t ,! adju/m5t %all be bas$ solely on1 z applicable1 updat$ p>ticipant data1 calculations ( gu>ante$ b5efits = p>ticipants & b5efici>ies cov]$ "u ! successor plan1 contribution exp]i5ce1 curr5t actu>ial assumptions 7if *ang$ s9ce ! initial transf] ( b5efits71 & *anges 9 ! m>ket value ( ! orig9al plan's assets4 7#c7 ,limitations on adju/m5t 7,a7 ,9 g5]al ,! corporation %all n adju/ "u p>agraph 7#a7 ! transf] ( b5efits to provide additional f9ancial assi/ance if ! corporation det]m9es t ! orig9al plan or ! b>ga9+ p>ties committ$ an abuse ( ! multiemploy] program ) respect to ! orig9al plan or o!rwise unreasonably took actions 7or avoid$ tak+ actions7 ) ! result t !re is an increas$ risk ( loss to ! corporation ) respect to ! successor plan or ! orig9al plan4 7,b7 ,end ( adju/m5t au?ority ,no adju/m5ts "u p>agraph 7#a7 to ! transf] ( b5efits %all be all[$ ) respect to any plan ye> beg9n+ #cj or m ye>s aft] ! date ( ! p>tition4 7,c7 ,aggregate limits ,if ! initial transf] ( b5efits f ! plan "u subsection 7g7-- 7i7 0 less ?an #ajj p]c5t ( ! am\nt ( b5efits "u ! plan gu>ante$ "u section #djbb;,a = ea* p>ticipant1 any adju/m5t "u p>agraph 7#a7 %all n result 9 a b5efit = any p>ticipant 9 ! successor plan 9 excess ( #ajj p]c5t ( ! p>ticipant's gu>ante$ b5efit1 det]m9$ z ( ! date ( ! initial transf]2 7ii7 0 equal to or great] ?an #ajj p]c5t ( ! am\nt ( b5efits s gu>ante$1 any adju/m5t "u p>agraph 7#a7 %all n result 9 a b5efit = any p>ticipant 9 ! successor plan 9 excess ( ! am\nt ( ! p>ticipant's b5efit subject to ! initial transf]2 & 7iii7 0 less ?an #e p]c5t ( ! am\nt ( b5efits s gu>ante$1 !re %all be no adju/m5t "u p>agraph 7#a74 7#d7 ,t]m9at$ & insolv5t plans ,) respect to an orig9al plan p>tition$ "u ?is section t subsequ5tly is t]m9at$ or becomes insolv5t1 ! b5efits transf]r$ "u ! p>tition ord] %all rev]t to ! orig9al plan1 ! p>tition %all be rev]s$1 & f9ancial assi/ance provid$ pursuant to ! p>tition ord] %all cease4 7#e7 ,regulations ,! corporation %all promulgate regulations describ+ ! process & requirem5ts = report+ & ! circum/ances "u :i* plans w be t]m9at$ 9 accordance ) ! provisions ( section #djda;,a pursuant to ?is subsection4 7k7 ,plans t implem5t$ susp5sion ( b5efits 7#a7 ,9 g5]al ,an eligible multiemploy] plan describ$ 9 subsection 7b77#a77;,b77i77,,ii7 may be approv$ = a p>tition "u ?is section only if x unw9ds ! susp5sion1 &1 if applicable1 ! previ\s p>tition describ$ 9 su* subsection 9 accordance ) regulations to be issu$ by ! corporation1 9 consultation ) ! ,secret>y ( ! ,treasury4 ,! unw9d+ ( a susp5sion or p>tition describ$ 9 su* subsection mu/ be cont+5t ^u ! corporation's approval ( ! application = p>tition "u ?is section4 7#b7 ,tim+ ( unw9d+ ( susp5sion ( b5efits ,9 ! case ( a p>tition describ$ 9 p>agraph 7#a71 ! susp5sion ( b5efits %all be unw\nd retroactively4 ,b5efits %all be re/or$ to pre-susp5sion levels z ( ! effective date ( ! p>tition "u ?is section & p>ticipants :o are receiv+ b5efits on ! date ( enactm5t ( ?is section %all1 beg9n+ n lat] ?an #ahj days aft] ! approval ( a p>tition ord] "u ?is section1 receive a special paym5t1 payable ov] a p]iod n to exce$ #b ye>s1 equal to ! am\nt ( b5efits previ\sly susp5d$ z prescrib$ 9 regulations4 ,su* plans are subject to ! requirem5ts ( subsection 7c74 7l7 ,fiduci>y protection ,plan p>ticipants & b5efici>ies %all n h a claim "u section #dji or section #ejb ( ?is ,act aga9/ plan fiduci>ies ) respect to an application = p>tition assi/ance made 9 good fai? or ! allocation ( b5efit liabilities betwe5 ! successor plan & ! orig9al plan4 7m7 ,effect ( p>tition on )drawal liability 7#a7 ,9 g5]al ,a p>tition ord] "u ?is section is tak5 into acc\nt 9 det]m9+ )drawal liability "u section #dbja ( an employ] t contributes to ! orig9al plan1 provid$ t ! employ] rema9s a contribut+ employ] to ! orig9al plan 7& 9 compliance ) any applicable fund+ improvem5t or rehabilitation plan7 = a p]iod ( #ae ye>s foll[+ ! effective date ( ! liability transf]4 7#b7 ,)drawals aft] less ?an #ae ye>s 7,a7 ,9 g5]al ,if an employ] completely )draws or p>tially )draws f a plan t 0 p>tition$ "u ?is section at any "t )9 ! #ae-ye> p]iod describ$ 9 p>agraph 7#a71 ! transf] ( b5efits "u subsection 7g7 %all n be tak5 into acc\nt 9 comput+ ! employ]'s complete or p>tial )drawal liability1 & ! am\nt ( ! annual )drawal liability paym5t am\nt o!rwise det]m9$ %all be increas$ by #aj p]c5t4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply-- 7i7 if ! complete or p>tial )drawal is due to a dec]tification1 a *ange 9 b>ga9+ repres5tatives1 disclaim] ( int]e/1 or because ( an ev5t describ$ 9 section #dbah2 or 7ii7 9 ! case ( a p>tial )drawal due to a b>ga9+ unit or facility take-out if ! contribution base units = ! plan ye> imm$iately foll[+ ! ye> ( ! p>tial )drawal are at lea/ #ig p]c5t ( ! contribution base units = ! plan ye> imm$iately prec$+ ! ye> ( ! p>tial )drawal4 7#c7 ,exception ,p>agraphs 7#a7 & 7#b7 %all n apply to an employ] t fir/ _h an obligation to contribute to ! plan p>tition$ "u ?is section aft] ! date ( enactm5t ( ?is section4 7n7 ,re/rictions on b5efit improvem5ts 7#a7 ,increase 9 plan liabilities 7,a7 ,9 g5]al ,if ! plan sponsor adopts a plan am5dm5t t increases plan liabilities 7due to any increase 9 b5efits1 any *ange 9 ! accrual ( b5efits1 or any *ange 9 ! rate at :i* b5efits become non=feitable7 t takes effect aft] ! effective date ( ! p>tition1 ! orig9al plan %all make paym5ts to ! corporation = ea* ye> dur+ ! #bj-ye> p]iod foll[+ ! effective date ( ! b5efit increase4 ,= purposes ( ?is p>agraph1 an increase 9 b5efits due to an increase 9 ! contribution rate or comp5sation %all be consid]$ a prohibit$ increase 9 b5efits4 7,b7 ,exception = c]ta9 accruals ,subp>agraph 7,a7 %all n apply to any *ange 9 future accruals aft] ! end ( ! #ae-ye> p]iod dur+ :i* su* accruals are limit$ "u subsection 7c74 7#b7 ,am\nt payable to corporation ,! am\nt paid by ! orig9al plan to ! corporation "u p>agraph 7#a7 ea* ye> %all be equal to ! less] (-- 7,a7 ! total value ( ! increase 9 b5efit paym5ts = ! ye> t is attributable to ! b5efit improvem5t2 or 7,b7 ! total b5efit paym5ts f ! successor plan = su* ye>4 7#c7 ,tim+ ( paym5t ,paym5ts "u p>agraph 7#b7 %all be made by ! orig9al plan at ! "t (1 & 9 addition to1 any premium impos$ by ! corporation on ! plan4 7#d7 ,,pbgc ,au?ority ,! corporation is au?oriz$ to br+ an action aga9/ ! orig9al plan to prev5t or correct any & all actions by plan sponsors1 a pr9cipal purpose ( :i* is to evade or avoid paym5ts due to ! corporation "u p>agraph 7#b71 or t may h ! effect ( evad+ or avoid+ su* paym5ts4 ,paym5ts "u p>agraph 7#b7 %all be det]m9$ )\t reg>d to su* actions by plan sponsors4 7#e7 ,exception = c]ta9 *anges ,! requirem5ts ( ?is subsection d n apply to an increase or *ange 9 b5efits t is requir$ by law or t is a de m9imis *ange1 z det]m9$ by ! corporation4 7o7 ,po/-,p>tition disclosures ,n lat] ?an #ij days aft] ! fir/ day ( ea* plan ye> beg9n+ aft] ! effective date ( a p>tition "u ?is section1 ! plan sponsor ( ! orig9al plan %all electronically file ) ! corporation a report includ+ ! foll[+ in=mation3 7#a7 ,! e/imat$ fund$ p]c5tage 7z def9$ 9 section #cje7k77#b77 z ( ! fir/ day ( su* plan ye>1 & ! und]ly+ actu>ial value ( assets & liabilities tak5 into acc\nt 9 det]m9+ su* p]c5tage4 7#b7 ,! e/imat$ am\nt ( all inve/m5t returns = ! orig9al plan dur+ ! prec$+ plan ye>4 7#c7 ,! m>ket value ( ! assets ( ! plan 7det]m9$ z provid$ 9 p>agraph 7#a77 z ( ! la/ day ( ! plan ye> prec$+ su* plan ye>4 7#d7 ,! total value ( all contributions made by employ]s & employees dur+ ! plan ye> prec$+ su* plan ye>4 7#e7 ,! total value ( all b5efits paid dur+ ! plan ye> prec$+ su* plan ye>4 7#f7 ,ca% fl[ projections = su* plan ye> & ! #bi succe$+ plan ye>s1 & ! assumptions us$ 9 mak+ su* projections4 7#g7 ,fund+ /&>d acc\nt projections = su* plan ye> & ! #i succe$+ plan ye>s1 & ! assumptions us$ 9 mak+ su* projections4 7#h7 ,any significant r$uction 9 ! numb] ( active p>ticipants dur+ ! plan ye> prec$+ su* plan ye>1 & ! reason = su* r$uction4 7#i7 ,a li/ ( employ]s t )drew f ! plan 9 ! plan ye> prec$+ su* plan ye>1 & ! result+ r$uction 9 contributions4 7#aj7 ,a li/ ( employ]s t paid )drawal liability to ! plan dur+ ! plan ye> prec$+ su* plan ye> &1 = ea* employ]1 a total assessm5t ( ! )drawal liability paid1 ! annual paym5t am\nt1 & ! numb] ( ye>s rema9+ 9 ! paym5t s*$ule ) respect to su* )drawal liability4 7#aa7 ,any mat]ial *anges to b5efits1 accrual rates1 or contribution rates dur+ ! plan ye> prec$+ su* plan ye>1 & :e!r su* *anges relate to ! conditions ( ! p>tition assi/ance4 7#ab7 ,details reg>d+ any fund+ improvem5t plan or rehabilitation plan & updates to su* plan4 7#ac7 ,! numb] ( p>ticipants & b5efici>ies dur+ ! plan ye> prec$+ su* plan ye> :o are active p>ticipants1 ! numb] ( p>ticipants & b5efici>ies 9 pay /atus1 & ! numb] ( t]m9at$ ve/$ p>ticipants & b5efici>ies4 7#ad7 ,=-- 7,a7 ! fir/ plan ye> aft] ! effective date ( ! p>tition1 a li/ ( all employ]s t contribut$ to ! plan dur+ ! plan ye>2 & 7,b7 subsequ5t plan ye>s1 *anges to ! li/ ( contribut+ employ]s4 7#ae7 ,! in=mation conta9$ on ! mo/ rec5t annual return "u section #fjeh ( ! ,int]nal ,rev5ue ,code ( #aihf & actu>ial report "u section #fjei ( su* ,code ( ! plan4 7#af7 ,copies ( ! plan docum5t & am5dm5ts1 o!r retirem5t b5efit or ancill>y b5efit plans relat+ to ! plan & contribution obligations "u su* plans1 a breakd[n ( adm9i/rative exp5ses ( ! plan1 p>ticipant c5sus data & di/ribution ( b5efits1 ! mo/ rec5t actu>ial valuation report z ( ! plan ye>1 f9ancial reports1 & copies ( ! portions ( collective b>ga9+ agreem5ts relat+ to plan contributions1 fund+ cov]age1 or b5efits1 & su* o!r in=mation z ! corporation may reasonably require4 7#ag7 ,a li/ ( ! employ]s t contribut$ m ?an #e p]c5t ( total contributions to ! plan dur+ ! prec$+ plan ye>1 & ! am\nt contribut$ by ea* su* employ]4 ,any in=mation or docum5t>y mat]ial submitt$ to ! corporation pursuant to ?is subsection t c\ld id5tify individual employ]s1 if cle>ly designat$ by ! p]son mak+ ! submission z confid5tial 7on ea* page 9 ! case ( a docum5t1 & 9 ! file "n 9 ! case ( a digital file71 %all be exempt f disclosure "u section #eeb ( title #e1 ,unit$ ,/ates ,code1 & no su* in=mation or docum5t>y mat]ial may be made public except z may be relevant to any adm9i/rative or judicial action or proce$+1 includ+ an in=mal rulemak+4 7p7 ,re/rictions on contribution decreases 7#a7 ,9 g5]al ,subject to p>agraph 7#b71 except 9 any plan ye> 9 :i* ! plan is c]tifi$ by ! plan actu>y z 9 unre/rict$ /atus pursuant to section #cje7;b77#a77;,b71 ! plan sponsor ( an orig9al plan may n accept a collective b>ga9+ agreem5t ) respect to su* orig9al plan t includes a r$uction 9 employ] contribution rates4 7#b7 ,exception ,"u a process to be promulgat$ by regulation by ! corporation1 a plan sponsor ( an orig9al plan may petition ! corporation = ! au?ority to approve a collective b>ga9+ agreem5t t contemplates a r$uction 9 employ] contribution rates4 ,su* regulation %all include a requirem5t t a plan petition+ = su* au?ority demon/rate t its exi/+ contribution rates are high] ?an contribution rates paid on behalf ( o!r work]s cov]$ by collective b>ga9+ agreem5ts 9 ! same indu/ry 9 ne>by localities4 ,! corporation %all approve ! petition if ! plan sponsor demon/rates t ! r$uction 9 contribution rates improves ! long-t]m fund+ or solv5cy ( ! plan1 & does n increase ! corporation's expect$ loss ) respect to ! plan4 7q7 ,effect on accumulat$ fund+ defici5cy ,any accumulat$ fund+ defici5cy 7z def9$ 9 section #cjd7;a77 ( a plan %all be r$uc$ to z]o z ( ! fir/ day ( ! plan ye> dur+ :i* ! p>tition "u ?is section is effective4 7r7 ,coord9ation ( report+ & disclosure requirem5ts ,! corporation1 ! ,secret>y1 & ! ,secret>y ( ! ,treasury may1 individually or collectively1 promulgate regulations to r$uce report+ & disclosure obligations = successor plans1 includ+ coord9at+ ) report+ & disclosure by orig9al plans4 4 7b7 ,con=m+ am5dm5t ,section #dbcc ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adac7 is am5d$ by add+ at ! end ! foll[+3 7g7 ,?is section %all n apply to an eligible multiemploy] plan describ$ 9 section #dbcc;,a7b7 t receives a special p>tition "u t section4 4 7c7 ,cl]ical am5dm5t ,! table ( cont5ts 9 section #a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajja et seq47 is am5d$ by ins]t+ aft] ! item relat+ to section #dbcc ! foll[+3 #dbcc;,a4 ,special p>titions ( eligible multiemploy] plans4 4 ,b ,,pbgc re=ms #aaa4 ,gu>antee rate increase = plans receiv+ f9ancial assi/ance 7a7 ,9 g5]al ,section #djbb;,a7c77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acbb7;c77#a77 is am5d$ by /rik+ subp>agraph 7,a7 & ins]t+ ! foll[+3 7,a7 #ajj p]c5t ( ! accrual rate up to #ae1 plus #ge p]c5t ( ! less] (-- 7i7 #ed4fg1 or 7ii7 ! accrual rate1 if any1 9 excess ( #ae1 & 4 7b7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by ?is section %all apply to f9ancial assi/ance provid$ by ! ,p5sion ,b5efit ,gu>anty ,corporation-- 7,a7 to plans t become insolv5t aft] ! date ( ! enactm5t ( ?is ,act2 or 7,b7 pursuant to a special p>tition "u section #dbcc;,a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd1 z add$ by ?is ,act4 7#b7 ,exception = p>titions on or be=e date ( enactm5t ,! am5dm5ts made by ?is section %all n apply to f9ancial assi/ance provid$ by ! ,p5sion ,b5efit ,gu>anty ,corporation pursuant to a p>tition ( a multiemploy] plan occurr+ on or be=e ! date ( ! enactm5t ( ?is ,act4 #aab4 ,am5dm5t to def9ition ( insolv5cy 7a7 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #dbde ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adbf7 is am5d$-- 7#a7 by am5d+ subsection 7a7 to read z foll[s3 7a7 ,not)/&+ sections #bjc & #bjd1 an insolv5t multiemploy] plan %all susp5d ! paym5ts ( b5efits :i* are n basic b5efits1 9 accordance ) ?is section1 & t]m9ate ! plan "u section #djda;,a7a77#d74 2 7#b7 9 subsection 7b7-- 7,a7 by /rik+ p>agraphs 7#a7 & 7#b7 & ins]t+ ! foll[+3 7#a7 a multiemploy] plan is insolv5t if ! plan's available res\rces 9 any ( ! next #e plan ye>s are project$ n to be suffici5t to pay b5efits "u ! plan :5 due = ! plan ye>2 2 7,b7 by r$esignat+ p>agraphs 7#c7 & 7#d7 z p>agraphs 7#b7 & 7#c71 respectively2 & 7,c7 9 p>agraph 7#b71 z s r$esignat$1 by ins]t+ expect$ be=e contributions2 7#c7 by /rik+ subsection 7c72 7#d7 by r$esignat+ subsections 7d7 ?r\gh 7g7 z subsections 7c7 ?r\gh 7f71 respectively2 7#e7 9 subsection 7c71 z s r$esignat$-- 7,a7 9 p>agraph 7#a7-- 7i7 by /rik+ critical /atus1 z describ$ 9 subsection #cje7;b77#b717 & ins]t+ su* critical /atus72 7ii7 by /rik+ #c times & ins]t+ #aj times2 & 7iii7 by /rik+ #e plan ye>s ea* place su* t]m appe>s & ins]t+ #h plan ye>s2 7,b7 9 p>agraph 7#b7-- 7i7 by /rik+ plan's available res\rces are n suffici5t to pay b5efits "u ! plan :5 due = ! next plan ye> & ins]t+ plan w be insolv5t 9 any ( ! next #aj plan ye>s2 & 7ii7 by ins]t+ & ! corporation be=e ! p]iod at ! end2 7,c7 by /rik+ p>agraph 7#c72 & 7,d7 by r$esignat+ p>agraph 7#d7 z p>agraph 7#c72 7#f7 9 subsection 7d71 z s r$esignat$-- 7,a7 9 p>agraph 7#a7-- 7i7 by /rik+ subsection 7d77#a7 or 7#b7 & ins]t+ subsection 7c77#a7 or 7#b72 & 7ii7 by /rik+ ,treasury1 9 subp>agraph 7,a7 & ins]t+ ,treasury &2 7,b7 9 p>agraph 7#b7-- 7i7 by /rik+ res\rce b5efit level det]m9$ 9 writ+ = t insolv5cy ye> & ins]t+ r$uction ( b5efit paym5ts to ! level ( basic b5efits & ! t]m9ation ( ! plan "u section #djda;,a7a77#d7 z ( ! fir/ day ( ! sev5? full plan mon? ( ! plan's fir/ insolv5cy ye> "u subsection 7b77#c72 & 7ii7 by /rik+ ea* insolv5cy ye> & ins]t+ ! fir/ insolv5cy ye>2 7,c7 by /rik+ p>agraph 7#c72 & 7,d7 by r$esignat+ p>agraphs 7#d7 & 7#e7 z p>agraphs 7#c7 & 7#d71 respectively2 7#g7 9 subsection 7e71 z s r$esignat$-- 7,a7 9 p>agraph 7#a7 by /rik+ 1 = :i* ! res\rce b5efit level is above ! level ( basic b5efits12 & 7,b7 by /rik+ p>agraph 7#b7 & ins]t+ aft] p>agraph 7#a7 ! foll[+ new p>agraph3 7#b7 ,a plan sponsor :o has det]m9$ t ! plan's available res\rces = an insolv5cy ye> are bel[ ! level ( basic b5efits %all apply = f9ancial assi/ance f ! corporation "u section #dbfa4 2 & 7#h7 9 subsection 7f71 z s r$esignat$1 by /rik+ ,subsections 7a7 & 7c7 & ins]t+ ,subsection 7a74 7b7 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf ,section #dah;,e ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by am5d+ subsection 7a7 to read z foll[s3 7a7 ,susp5sion ( c]ta9 b5efit paym5ts2 t]m9ation ,not)/&+ section #daa1 an insolv5t multiemploy] plan %all susp5d ! paym5ts ( b5efits :i* are n basic b5efits1 9 accordance ) ?is section1 & t]m9ate ! plan "u section #djda;,a7a77#d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd4 2 7#b7 9 subsection 7b7-- 7,a7 by /rik+ p>agraphs 7#a7 & 7#b7 & ins]t+ ! foll[+3 7#a7 ,insolv5t multiemploy] plan ,a multiemploy] plan is insolv5t if ! plan's available res\rces 9 any ( ! next #e plan ye>s are project$ n to be suffici5t to pay b5efits "u ! plan :5 due = ! plan ye>4 2 7,b7 by r$esignat+ p>agraphs 7#c7 & 7#d7 z p>agraphs 7#b7 & 7#c71 respectively2 & 7,c7 9 p>agraph 7#b71 z s r$esignat$1 by ins]t+ expect$ be=e contributions2 7#c7 by /rik+ subsection 7c72 7#d7 by r$esignat+ subsections 7d7 ?r\gh 7h7 z subsections 7c7 ?r\gh 7g71 respectively2 7#e7 9 subsection 7c71 z s r$esignat$-- 7,a7 9 p>agraph 7#a7-- 7i7 by /rik+ critical /atus1 z describ$ 9 subsection #dcb7;b77#b77 & ins]t+ su* critical /atus72 7ii7 by /rik+ #c times & ins]t+ #aj times2 & 7iii7 by /rik+ #e plan ye>s ea* place su* t]m appe>s & ins]t+ #h plan ye>s2 7,b7 9 p>agraph 7#b7-- 7i7 by /rik+ plan's available res\rces are n suffici5t to pay b5efits "u ! plan :5 due = ! next plan ye> & ins]t+ plan w be insolv5t 9 any ( ! next #aj plan ye>s2 & 7ii7 by ins]t+ & ! corporation be=e ! p]iod at ! end2 7,c7 by /rik+ p>agraph 7#c72 & 7,d7 by r$esignat+ p>agraph 7#d7 z p>agraph 7#c72 7#f7 9 subsection 7d71 z s r$esignat$-- 7,a7 9 p>agraph 7#a71 by /rik+ subsection 7d77#a7 or 7#b7 & ins]t+ subsection 7c77#a7 or 7#b72 7,b7 9 p>agraph 7#b7-- 7i7 by /rik+ res\rce b5efit level det]m9$ 9 writ+ = t insolv5cy ye> & ins]t+ r$uction ( b5efit paym5ts to ! level ( basic b5efits & ! t]m9ation ( ! plan "u section #djda;,a7a77#d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd z ( ! fir/ day ( ! sev5? full plan mon? ( ! plan's fir/ insolv5cy ye> "u subsection 7b77#c72 7ii7 by /rik+ ea* insolv5cy ye> & ins]t+ ! fir/ insolv5cy ye>2 & 7iii7 by /rik+ ,res\rce b5efit level 9 ! head+ & ins]t+ ,notice ( insolv5cy2 7,c7 by /rik+ p>agraph 7#c72 & 7,d7 by r$esignat+ p>agraphs 7#d7 & 7#e7 z p>agraphs 7#c7 & 7#d71 respectively2 7#g7 9 subsection 7e71 z s r$esignat$-- 7,a7 9 p>agraph 7#a7 by /rik+ 1 = :i* ! res\rce b5efit level is above ! level ( basic b5efits12 & 7,b7 by /rik+ p>agraph 7#b7 & ins]t+ aft] p>agraph 7#a7 ! foll[+ new p>agraph3 7#b7 ,plans )\t available res\rces ,a plan sponsor :o has det]m9$ t ! plan's available res\rces = an insolv5cy ye> are bel[ ! level ( basic b5efits %all apply = f9ancial assi/ance f ! ,p5sion ,b5efit ,gu>anty ,corporation "u section #dbfa ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd4 2 & 7#h7 9 subsection 7g71 z s r$esignat$1 by /rik+ ,subsections 7a7 & 7c7 & ins]t+ ,subsection 7a74 7c7 ,regulations ,! ,p5sion ,b5efit ,gu>anty ,corporation %all issue regulations implem5t+ ! am5dm5ts made by ?is section4 ,su* regulations %all address ! assumptions a plan may use 9 project+ :e!r a plan's available res\rces 9 any ( ! next #e plan ye>s are project$ n to be suffici5t to pay b5efits "u ! plan :5 due4 #aac4 ,t]m9ation ( multiemploy] plans 7a7 ,t]m9ation by c\rt ord] ,section #djda;,a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acda;a7 is am5d$ by add+ at ! end ! foll[+3 7g7 ,effect ( t]m9ation ord] ,if a c\rt ord]s ! t]m9ation ( a multiemploy] plan "u section #djdb-- 7#a7 ! corporation %all det]m9e :e!r ! t]m9ation ( su* plan %all be c>ri$ out 9 accordance ) p>agraph 7#a7 or 7#b7 ( subsection 7a7 7& su* t]m9ation %all be treat$ z describ$ 9 :i*ev] ( su* p>agraphs is applicable "u ! det]m9ation71 & 7#b7 ! plan %all take su* actions z ! corporation det]m9es necess>y to implem5t ! corporation's det]m9ation "u p>agraph 7#a7 by su* date z ! corporation specifies 9 su* det]m9ation4 4 7b7 ,t]m9ation by reason ( insolv5cy 7#a7 ,9 g5]al ,section #djda;,a7a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acda;a7a77 is am5d$-- 7,a7 9 p>agraph 7#b71 by /rik+ or at ! end2 7,b7 9 p>agraph 7#c7-- 7i7 by /rik+ section #dbjc7;b77#a7 & ins]t+ section #djba7;b77#a72 & 7ii7 by /rik+ ! p]iod & ins]t+ 2 or2 & 7,c7 by add+ at ! end ! foll[+3 7#d7 becom+ insolv5t 7)9 ! mean+ ( section #dbde7;b77#a774 4 7#b7 ,"t ( t]m9ation ,section #djda;,a7b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acda;a7b77 is am5d$ by add+ at ! end ! foll[+ new p>agraphs3 7#c7 ,except z provid$ 9 p>agraph 7#d71 ! date on :i* a plan t]m9ates "u p>agraph 7#d7 ( subsection 7a7 is ! fir/ day ( ! sev5? full plan mon? ( ! plan's fir/ insolv5cy ye> "u section #dbde7;b77#c74 7#d7 7,a7 ,9 ! case ( a multiemploy] plan :i* is an insolv5t plan on ! date ( enactm5t ( ?is p>agraph-- 7i7 p>agraph 7#d7 ( subsection 7a7 %all apply to su* plan unless su* plan applies =1 & receives1 a special p>tition "u section #dbcc;,a1 & 7ii7 ! date on :i* plan t]m9ates %all be det]m9$ "u subp>agraph 7,b74 7,b7 ,9 ! case ( a plan describ$ 9 subp>agraph 7,a71 ! date on :i* a plan t]m9ates "u p>agraph 7#d7 ( subsection 7a7 is-- 7i7 if ! plan is n eligible = a special p>tition "u section #dbcc;,a1 ! fir/ day ( ! sev5? full plan mon? foll[+ su* date ( enactm5t1 except t su* plan may1 not)/&+ ! am5dm5t requir$ to be adopt$ by ! plan "u section #dbde7;a71 cont9ue to provide s]vice cr$it solely = purposes ( ve/+ "u ! plan until su* "t z ! plan's available res\rces are n suffici5t to pay b5efits "u ! plan1 & 7ii7 if ! plan applies = su* special p>tition b ! corporation does n approve x1 ! fir/ day ( ! sev5? full plan mon? foll[+ ! f9al det]m9ation ( ! corporation disall[+ su* special p>tition4 4 7#c7 ,adoption ( am5dm5t provid+ = no s]vice cr$it ,section #dbde7;a7 ( su* ,act 7#bi ,u4,s4,c4 #adbf7;a771 z am5d$ by ?is ,act1 is am5d$ by add+ at ! end ! foll[+3 ,! insolv5t multiemploy] plan %all also1 at ! "t ( becom+ insolv5t1 adopt an am5dm5t :i* provides t p>ticipants w receive no cr$it = any purpose "u ! plan = s]vice ) any employ] aft] ! date specifi$ 9 #djda;,a7b77#c7 or 7#d71 :i*ev] is applicable44 7#d7 ,o!r am5dm5ts ,section #djda;,a ( su* ,act ( #aigd 7#bi ,u4,s4,c4 #acda;a7 is am5d$-- 7,a7 9 subsection 7c7-- 7i7 9 ! matt] prec$+ p>agraph 7#a7-- 7,i7 by /rik+ ,except & ins]t+ ,consi/5t ) ! provisions ( section #dbha1 & except2 & 7,,ii7 by /rik+ p>agraph 7#b7 & ins]t+ p>agraph 7#a71 7#b71 or 7#d72 7ii7 9 p>agraph 7#a71 by /rik+ & at ! end2 7iii7 by r$esignat+ p>agraph 7#b7 z p>agraph 7#c72 & 7iv7 by ins]t+ aft] p>agraph 7#a7 ! foll[+3 7#b7 susp5d ! paym5t ( b5efits 9 excess ( ! level ( basic b5efits1 & 2 7,b7 by /rik+ subsection 7d7 & r$esignat+ subsections 7e7 & 7f7 z subsections 7d7 & 7e71 respectively2 & 7,c7 9 subsection 7d71 z s r$esignat$-- 7i7 by /rik+ p>agraph 7#a7 or 7#c7 & ins]t+ p>agraph 7#a71 7#c71 or 7#d72 7ii7 by /rik+ t]m9ation date1 unless & ins]t+ t]m9ation date & ! total contribution am\nt %all be n less ?an ! av]age am\nt ( ! highe/ #c contributions 9 ! previ\s #aj ye>s1 unless2 & 7iii7 by add+ at ! end ! foll[+ new s5t5ce3 ,any liability "u section #dbja due by an employ] t )draws f ! plan aft] ! plan t]m9ation date %all be (fset by ! contributions made "u ?is subsection subsequ5t to ! plan t]m9ation44 7c7 ,pool+ ( assets ,section #djda;,a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acda;a71 z am5d$ by ?is section1 is fur!r am5d$ by add+ at ! end ! foll[+3 7g7 ,pool+ ( assets ,not)/&+ any o!r provision ( ?is title1 ! corporation is au?oriz$ to pool assets ( t]m9at$ or insolv5t multiemploy] plans ) few] ?an #e1jjj p>ticipants or to consolidate su* plans by m]g]1 = purposes ( adm9i/ration1 inve/m5t1 paym5t ( liabilities ( all su* plans1 & su* o!r purposes z x det]m9ates to be appropriate 9 ! adm9i/ration ( ?is title1 if x det]m9es t su* action w\ld r$uce adm9i/rative exp5ses or avoid an increas$ risk ( loss4 ,! corporation may ex]cise ?is consolidation au?ority by adm9i/rative action )\t petition+ a c\rt = an ord] to replace ! plan's gov]n+ bo>d ( tru/ees1 includ+ receiv]%ip by ! corporation1 or to consolidate or m]ge any plans4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect on ! date ( enactm5t ( ?is section1 except t ! am5dm5ts made by subsection 7b7 %all also apply to multiemploy] plans t are insolv5t on su* date4 #aad4 ,b5efits "u c]ta9 t]m9at$ plans ,section #dbha ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adda7 is am5d$-- 7#a7 9 subsection 7a71 by /rik+ section #djda;,a7d7 & ins]t+ ,section #djda;,a7c72 7#b7 by /rik+ subsections 7b71 7c71 & 7d72 & 7#c7 by ins]t+ aft] subsection 7a7 ! foll[+3 7b7 7#a7 ,if a plan has be5 t]m9at$ pursuant to p>agraph 7#a71 7#b71 or 7#d7 ( section #djda;,a7a71 ! plan sponsor %all am5d ! plan to susp5d b5efits 9 excess ( ! level ( basic b5efits4 7#b7 ,any plan am5dm5t requir$ by ?is subsection %all1 9 accordance ) regulations prescrib$ by ! corporation1 take effect n lat] ?an #f mon?s aft] ! date on :i* ! plan is t]m9at$4 7c7 7#a7 ,! value ( non=feitable b5efits "u a t]m9at$ plan describ$ 9 subsection 7a71 & ! value ( ! plan's assets1 %all be det]m9$ 9 writ+1 9 accordance ) regulations prescrib$ by ! corporation1 z ( ! end ( ! plan ye> dur+ :i* section #djda;,a7c7 becomes applicable to su* plan4 7#b7 ,= purposes ( ?is subsection1 plan assets include out/&+ claims = )drawal liability 7)9 ! mean+ ( section #djja7;a77#ab74 7#c7 ,if1 accord+ to ! det]m9ation made "u p>agraph 7#a71 ! value ( plan assets is suffici5t to pay non=feitable b5efits1 ! plan sponsor %all use ! plan assets to pur*ase irrevocable commitm5ts to provide su* b5efits f an insur] or o!rwise di/ribute plan assets 9 satisfaction ( ! plan's obligations ) respect to non=feitable b5efits1 9 accordance ) all applicable regulations4 7d7 7#a7 ,if1 accord+ to ! det]m9ation made "u subsection 7c77#a71 ! value ( non=feitable b5efits exce$s ! value ( ! plan's assets1 ! plan sponsor %all am5d ! plan to r$uce b5efits "u ! plan z provid$ 9 p>agraph 7#b74 7#b7 ,any plan am5dm5t requir$ by p>agraph 7#a7 %all1 9 accordance ) regulations prescrib$ by ! corporation-- 7,a7 r$uce b5efits to ! ext5t necess>y to elim9ate any b5efits t are n non=feitable2 7,b7 r$uce accru$ b5efits to ! ext5t t ^? b5efits are n eligible = ! corporation's gu>antee "u section #djbb;,a7b72 & 7,c7 susp5d paym5t ( b5efits :i* are n basic b5efits "u section #djbb;,a7c74 7e7 ,! p[]s & duties "u ?is section ( a sponsor ( a plan t is t]m9at$ z describ$ 9 section #djda;,a1 be=e or aft] ! plan beg9s receiv+ f9ancial assi/ance "u section #dbfa1 %all be prescrib$ by ! corporation1 & ! corporation %all prescribe by regulation ! requirem5ts :i* assure t plan p>ticipants & b5efici>ies receive adequate notice ( any susp5sion ( b5efits4 4 ,c ,p5sion insurance model+ #aba4 ,p5sion insurance model+ ,section #djbcc7;a7 ( ! ,mov+ ,ahead = ,progress 9 ! #ba/ ,c5tury ,act 7#abf ,/at4 #heg2 ,public ,law #aab-ada7 is am5d$-- 7#a7 9 ! subsection head+1 by /rik+ ,annual2 7#b7 by /rik+ ,! ,p5sion & ins]t+ ,n lat] ?an ,janu>y #a1 #bjbe1 & n less frequ5tly ?an once e #e ye>s !reaft]1 ! ,p5sion2 7#c7 by /rik+ an annual pe] review & ins]t+ a pe] review2 & 7#d7 by /rik+ ! ?ird s5t5ce4 ,,ii ,fund+ rules1 )drawal liability1 & o!r re=ms ,a ,m9imum fund+ /&>d = multiemploy] plans #bja4 ,valuation ( plan liabilities 7a7 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf 7#a7 ,*>ges to fund+ /&>d acc\nt ,subp>agraph 7,b7 ( section #dca7;b77#b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7,a7 by /rik+ & at ! end ( clause 7iii71 7,b7 by r$esignat+ clause 7iv7 z clause 7v71 7,c7 by /rik+ actu>ial assumptions 9 clause 7v71 z s r$esignat$1 & ins]t+ actu>ial assumptions n describ$ 9 clause 7iv71 & 7,d7 by ins]t+ aft] clause 7iii7 ! foll[+ new clause3 7iv7 sep>ately1 ) respect to ea* plan ye>1 an am\nt equal to ! excess1 if any1 (-- 7,i7 ! net increase 7if any7 9 ! unfund$ pa/ s]vice liability result+ f a r$uction 9 ! int]e/ rate "u p>agraph 7#f77;,a7 f ! rate :i* appli$ = ! prec$+ ye>1 ov] 7,,ii7 ! am\nt 9 ! inve/m5t risk r$uction subacc\nt "u p>agraph 7#i71 ov] a p]iod ( #cj ye>s1 & 4 7#b7 ,cr$its to fund+ /&>d acc\nt ,clause 7iii7 ( section #dca7;b77#c77;,b7 ( su* ,code is am5d$ by ins]t+ 1 except t any am\nt ( net ga9 result+ f an increase 9 ! int]e/ rate f ! rate :i* appli$ = ! prec$+ ye> %all fir/ be (fset aga9/ any unamortiz$ am\nts *>g$ "u p>agraph 7#b77;,b77iv7 aft] #ae plan ye>s4 7#c7 ,int]e/ ,p>agraph 7#f7 ( section #dca7;b7 ( su* ,code is am5d$ to read z foll[s3 7#f7 ,int]e/ 7,a7 ,9 g5]al ,! fund+ /&>d acc\nt 7& items !re97 %all be *>g$ or cr$it$ 7z det]m9$ "u regulations prescrib$ by ! ,secret>y7 ) int]e/ at ! appropriate rate consi/5t ) ! rate or rates ( int]e/ us$ "u ! plan to det]m9e ! unfund$ pa/ s]vice liability4 ,not)/&+ any o!r provision ( ?is section1 ! int]e/ rate us$ %all n exce$-- 7i7 #g4e p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjba1 & be=e ,janu>y #a1 #bjbd1 7ii7 #g4be p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjbc1 & be=e ,janu>y #a1 #bjbh1 7iii7 #g4j p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjbg1 & be=e ,janu>y #a1 #bjcb1 7iv7 #f4ge p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjca1 & be=e ,janu>y #a1 #bjcf1 & 7v7 #f4e p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjce4 ,not)/&+ subsection 7c71 ! plan sponsor may direct ! plan actu>y to use any rate :i* is n l[] ?an ! rate det]m9$ "u subp>agraph 7,b7 7)\t reg>d to ?is s5t5ce7 & n great] ?an ! rate det]m9$ "u ! prec$+ s5t5ce = ! plan ye>4 ,no?+ 9 ?is subp>agraph %all require a plan to take into acc\nt ! int]e/ rate limitation = subsequ5t ye>s "u ! prec$+ s5t5ce 9 det]m9+ actu>ial valuations z ( any giv5 ye>4 7,b7 ,int]e/ rate = det]m9+ normal co/ ,not)/&+ any o!r provision ( ?is section1 ! int]e/ rate us$ = det]m9+ ! normal co/ to be *>g$ "u p>agraph 7#b7 = ! plan ye> %all be equal to ! lea/ (-- 7i7 ! int]e/ rate applicable "u subp>agraph 7,a7 = ! plan ye>1 7ii7 a rate equal to ! #bd-mon? av]age ( ! ?ird segm5t rate 7z def9$ 9 section #dcj7;h77#b77;,c77iii771 z ( ! date ! det]m9ation is made1 )\t reg>d to section #dcj7;h77#b77;,c77iv71 increas$ by #b p]c5t1 or 7iii7 #e4e p]c5t4 7,c7 ,exception = c]ta9 p>tition$ plans ,not)/&+ subp>agraph 7,a71 9 ! case ( a plan :i* has be5 p>tition$ "u section #dbcc;,a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd1 ! rate ( int]e/ us$ to det]m9e normal co/ "u subp>agraph 7,b7 %all also be us$ to det]m9e ! unfund$ pa/ s]vice liability ( ! plan4 7,d7 ,exception = plans us+ a spread-ga9 me?od ,not)/&+ subp>agraph 7,b71 & except z not$ 9 subp>agraph 7,c71 9 ! case ( a plan :i* uses a fund+ me?od o!r ?an ! unit cr$it me?od or entry-age normal me?od-- 7i7 ! normal co/ & pa/ s]vice liability %all be calculat$ us+ int]e/ rates "u subp>agraph 7,a71 7ii7 an additional normal co/ compon5t %all be calculat$ 9 ! same mann] z "u p>agraph 7#i77;,b77i7 bas$ on ! unit cr$it me?od1 & 7iii7 ! am\nt det]m9$ "u clause 7ii7 %all be add$ to ! o!rwise calculat$ normal co/ "u ! fund+ me?od 9 lieu ( ! cr$it "u p>agraph 7#i77;,b77i74 4 7#d7 ,inve/m5t risk r$uction subacc\nt ,subsection 7b7 ( section #dca ( su* ,code is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#i7 ,inve/m5t risk r$uction subacc\nt ,= purposes ( ?is "p-- 7,a7 ,9 g5]al ,! fund+ /&>d acc\nt %all include an inve/m5t risk r$uction subacc\nt us$ solely to (fset losses attributable to r$uctions 9 ! rate ( int]e/ us$ to det]m9e ! unfund$ pa/ s]vice liability ( ! plan ov] "t4 7,b7 ,annual adju/m5ts ,= a plan ye>1 ! inve/m5t risk r$uction subacc\nt %all be-- 7i7 cr$it$ ) ! net *ange 7if any7 9 ! normal co/ = ! imm$iately prec$+ plan ye> due to recalculation to reflect ! diff]5ce 9 int]e/ rates "u p>agraphs 7#f77;,a7 & 7#f77;,b71 7ii7 *>g$ ) ! am\nt ( any r$uction appli$ "u p>agraph 7#b77;,b77iv77,,ii71 or1 9 ! case ( a plan us+ a spread-ga9 me?od1 an am\nt equal to ! less] (-- 7,i7 ! entire rema9+ balance ( su* subacc\nt imm$iately be=e ! *>ge1 or 7,,ii7 ! am\nt ( ! increase 9 ! pres5t value ( b5efits result+ f a decrease 9 ! int]e/ rate f ! rate :i* appli$ = ! prec$+ ye>1 7iii7 at ! election ( ! plan sponsor1 & pursuant to regulations to be issu$ by ! ,secret>y1 cr$it$ ) ! net decrease 9 ! unfund$ pa/ s]vice liability 7or pres5t value ( b5efits1 9 ! case ( a plan us+ a spread-ga9 me?od7 result+ f an increase 9 ! int]e/ rate "u p>agraph 7#f77;,a71 n to exce$ ! am\nt ( any previ\s *>ges to ! acc\nt "u clause 7ii71 r$uc$ by any previ\s cr$its "u ?is clause1 & 7iv7 adju/$ ) int]e/ at ! rate "u p>agraph 7#f77;,a71 z applicable4 4 7#e7 ,det]m9ations to be made "u fund+ me?od ,p>agraph 7#a7 ( section #dca7;c7 ( su* ,code is am5d$ to read z foll[s3 7#a7 ,det]m9ations to be made "u fund+ me?od 7,a7 ,9 g5]al ,= purposes ( ?is "p1 normal co/s1 accru$ liability1 & exp]i5ce ga9s & losses us$ to det]m9e ! unfund$ pa/ s]vice liability = ! plan %all be det]m9$ "u ! fund+ me?od us$ to det]m9e co/s "u ! plan & bas$ on ! int]e/ rate "u subp>agraph 7,a7 7or subp>agraph 7,c71 if applicable7 ( subsection 7b77#f74 7,b7 ,adju/m5ts = fund+ /&>d acc\nt normal co/ ,not)/&+ subp>agraph 7,a71 9 ! case ( a plan us+ ! unit cr$it fund+ me?od or ! entry-age normal fund+ me?od1 ! normal co/ = a plan ye> to be *>g$ to ! fund+ /&>d acc\nt "u subsection 7b77#b7 %all be det]m9$ "u ! fund+ me?od us$ to det]m9e co/s "u ! plan & bas$ on ! int]e/ rate "u subsection 7b77#f77;,b74 4 7b7 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd 7#a7 ,*>ges to fund+ /&>d acc\nt ,subp>agraph 7,b7 ( section #cjd7;b77#b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhd7;b77#b77 is am5d$-- 7,a7 by /rik+ & at ! end ( clause 7iii71 7,b7 by r$esignat+ clause 7iv7 z clause 7v71 7,c7 by /rik+ actu>ial assumptions 9 clause 7v71 z s r$esignat$1 & ins]t+ actu>ial assumptions n describ$ 9 clause 7iv71 & 7,d7 by ins]t+ aft] clause 7iii7 ! foll[+ new clause3 7iv7 sep>ately1 ) respect to ea* plan ye>1 an am\nt equal to ! excess1 if any1 (-- 7,i7 ! net increase 7if any7 9 ! unfund$ pa/ s]vice liability result+ f a r$uction 9 ! int]e/ rate "u p>agraph 7#f77;,a7 f ! rate :i* appli$ = ! prec$+ ye>1 ov] 7,,ii7 ! am\nt 9 ! inve/m5t risk r$uction subacc\nt "u p>agraph 7#i71 ov] a p]iod ( #cj ye>s1 & 4 7#b7 ,cr$its to fund+ /&>d acc\nt ,clause 7iii7 ( section #cjd7;b77#c77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhd7;b77#c77;,b77 is am5d$ by ins]t+ 1 except t any am\nt ( net ga9 result+ f an increase 9 ! int]e/ rate f ! rate :i* appli$ = ! prec$+ ye> %all fir/ be (fset aga9/ any unamortiz$ am\nts *>g$ "u p>agraph 7#b77;,b77iv7 aft] #ae plan ye>s4 7#c7 ,int]e/ 7,a7 ,9 g5]al ,p>agraph 7#f7 ( section #cjd7;b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhd7;b77 is am5d$ to read z foll[s3 7#f7 ,int]e/ 7,a7 ,9 g5]al ,! fund+ /&>d acc\nt 7& items !re97 %all be *>g$ or cr$it$ 7z det]m9$ "u regulations prescrib$ by ! ,secret>y7 ) int]e/ at ! appropriate rate consi/5t ) ! rate or rates ( int]e/ us$ "u ! plan to det]m9e ! unfund$ pa/ s]vice liability4 ,not)/&+ any o!r provision ( ?is section1 ?is int]e/ rate %all n exce$-- 7i7 #g4e p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjba1 & be=e ,janu>y #a1 #bjbd1 7ii7 #g4be p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjbc1 & be=e ,janu>y #a1 #bjbh1 7iii7 #g4j p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjbg1 & be=e ,janu>y #a1 #bjcb1 7iv7 #f4ge p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjca1 & be=e ,janu>y #a1 #bjcf1 & 7v7 #f4e p]c5t = actu>ial valuations = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjce4 ,not)/&+ subsection 7c71 ! plan sponsor may direct ! plan actu>y to use any rate :i* is n l[] ?an ! rate det]m9$ "u subp>agraph 7,b7 7)\t reg>d to ?is s5t5ce7 & n great] ?an ! rate det]m9$ "u ! prec$+ s5t5ce = ! plan ye>4 ,no?+ 9 ?is subp>agraph %all require a plan to take into acc\nt ! int]e/ rate limitation = subsequ5t ye>s "u ! prec$+ s5t5ce 9 det]m9+ actu>ial valuations z ( any giv5 ye>4 7,b7 ,int]e/ rate = det]m9+ normal co/ ,not)/&+ any o!r provision ( ?is section1 ! int]e/ rate us$ = det]m9+ ! normal co/ to be *>g$ "u p>agraph 7#b7 = ! plan ye> %all be equal to ! lea/ (-- 7i7 ! int]e/ rate applicable "u subp>agraph 7,a7 = ! plan ye>1 7ii7 a rate equal to ! #bd-mon? av]age ( ! ?ird segm5t rate 7z def9$ 9 section #cjc7;h77#b77;,c77iii771 z ( ! date ! det]m9ation is made1 )\t reg>d to section #cjc7;h77#b77;,c77iv71 increas$ by #b p]c5t1 or 7iii7 #e4e p]c5t4 7,c7 ,exception = c]ta9 p>tition$ plans ,not)/&+ subp>agraph 7,a71 9 ! case ( a plan :i* has be5 p>tition$ "u section #dbcc;,a1 ! rate ( int]e/ us$ to det]m9e normal co/ "u subp>agraph 7,b7 %all also be us$ to det]m9e ! unfund$ pa/ s]vice liability ( ! plan4 7,d7 ,exception = plans us+ a spread-ga9 me?od ,not)/&+ subp>agraph 7,b71 & except z not$ 9 subp>agraph 7,c71 9 ! case ( a plan :i* uses a fund+ me?od o!r ?an ! unit cr$it me?od or entry-age normal me?od-- 7i7 ! normal co/ & pa/ s]vice liability %all be calculat$ us+ int]e/ rates "u subp>agraph 7,a71 7ii7 an additional normal co/ compon5t %all be calculat$ 9 ! same mann] z "u p>agraph 7#i77;,b77i7 bas$ on ! unit cr$it me?od1 & 7iii7 ! am\nt det]m9$ "u clause 7ii7 %all be add$ to ! o!rwise calculat$ normal co/ "u ! fund+ me?od 9 lieu ( ! cr$it "u p>agraph 7#i77;,b77i74 4 7,b7 ,con=m+ am5dm5t ,subp>agraph 7,a7 ( section #dbcc;,a7h77#d7 ( su* ,act1 z add$ by ?is ,act1 is am5d$ by ins]t+ 1 consi/5t ) section #cjd7;b77#f77;,c7 be=e ! p]iod4 7#d7 ,inve/m5t risk r$uction subacc\nt ,subsection 7b7 ( section #cjd ( su* ,act 7#bi ,u4,s4,c4 #ajhd7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#i7 ,inve/m5t risk r$uction subacc\nt ,= purposes ( ?is "p-- 7,a7 ,9 g5]al ,! fund+ /&>d acc\nt %all include an inve/m5t risk r$uction subacc\nt us$ solely to (fset losses attributable to r$uctions 9 ! rate ( int]e/ us$ to det]m9e ! unfund$ pa/ s]vice liability ( ! plan ov] "t4 7,b7 ,annual adju/m5ts ,= a plan ye>1 ! inve/m5t risk r$uction subacc\nt %all be-- 7i7 cr$it$ ) ! net *ange 7if any7 9 ! normal co/ = ! imm$iately prec$+ plan ye> due to recalculation to reflect ! diff]5ce 9 int]e/ rates "u p>agraphs 7#f77;,a7 & 7#f77;,b71 7ii7 *>g$ ) ! am\nt ( any r$uction appli$ "u p>agraph 7#b77;,b77iv77,,ii71 or1 9 ! case ( a plan us+ a spread-ga9 me?od1 an am\nt equal to ! less] (-- 7,i7 ! entire rema9+ balance ( su* subacc\nt imm$iately be=e ! *>ge1 or 7,,ii7 ! am\nt ( ! increase 9 ! pres5t value ( b5efits result+ f a decrease 9 ! int]e/ rate f ! rate :i* appli$ = ! prec$+ ye>1 7iii7 at ! election ( ! plan sponsor1 & pursuant to regulations to be issu$ by ! ,secret>y ( ! ,treasury1 cr$it$ ) ! net decrease 9 ! unfund$ pa/ s]vice liability 7or pres5t value ( b5efits1 9 ! case ( a plan us+ a spread-ga9 me?od7 result+ f an increase 9 ! int]e/ rate "u p>agraph 7#f77;,a71 n to exce$ ! am\nt ( any previ\s *>ges to ! acc\nt "u clause 7ii71 r$uc$ by any previ\s cr$its "u ?is clause1 & 7iv7 adju/$ ) int]e/ at ! rate "u p>agraph 7#f77;,a71 z applicable4 4 7#e7 ,det]m9ations to be made "u fund+ me?od ,p>agraph 7#a7 ( section #cjd7;c7 ( su* ,act 7#bi ,u4,s4,c4 #ajhd7;c77 is am5d$ to read z foll[s3 7#a7 ,det]m9ations to be made "u fund+ me?od 7,a7 ,9 g5]al ,= purposes ( ?is "p1 normal co/s1 accru$ liability1 & exp]i5ce ga9s & losses us$ to det]m9e ! unfund$ pa/ s]vice liability = ! plan %all be det]m9$ "u ! fund+ me?od us$ to det]m9e co/s "u ! plan & bas$ on ! int]e/ rate "u subp>agraph 7,a7 7or subp>agraph 7,c71 if applicable7 ( subsection 7b77#f74 7,b7 ,adju/m5ts = fund+ /&>d acc\nt normal co/ ,not)/&+ subp>agraph 7,a71 9 ! case ( a plan us+ ! unit cr$it fund+ me?od or ! entry-age normal fund+ me?od1 ! normal co/ = a plan ye> to be *>g$ to ! fund+ /&>d acc\nt "u subsection 7b77#b7 %all be det]m9$ "u ! fund+ me?od us$ to det]m9e co/s "u ! plan & bas$ on ! int]e/ rate "u subsection 7b77#f77;,b74 4 7c7 ,plan petitions ,to increase int]e/ assumptions 7#a7 ,9 g5]al ,pursuant to regulations to be issu$ by ! ,secret>y ( ! ,treasury 7or su* ,secret>y's delegate71 a multiemploy] plan mu/ petition ! ,secret>y ( ! ,treasury 7or delegate7 = any increase 9 ! int]e/ assumption made aft] a #cj-ye> amortization base is e/abli%$ 9 accordance ) section #dca7;b77#b77;,b77iv7 ( ! ,int]nal ,rev5ue ,code ( #aihf & section #cjd7;b77#b77;,b77iv7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7z add$ by ?is ,act74 ,! ,secret>y ( ! ,treasury 7or delegate7 %all approve su* reque/ ^u a det]m9ation t ! *ange is reasonably support$ by *anges 9 ! f9ancial m>kets or *anges 9 ! plan's asset allocation1 & is consi/5t ) ! mann] 9 :i* prior *anges 9 int]e/ rate assumptions 7 det]m9$ s9ce ! date ( ! enactm5t ( ?is ,act4 7#b7 ,approval ,if ! ,secret>y ( ! ,treasury 7or su* ,secret>y's delegate7 does n approve or d5y any petition submitt$ pursuant to p>agraph 7#a7 )9 #ahj days ( receiv+ su* petition1 su* petition %all be deem$ to h be5 approv$4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 ,b ,additional fund+ rules = multiemploy] plans ,i ,plan /atus am5dm5ts #baa4 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf 7a7 ,rules apply+ to all multiemploy] plans 7#a7 ,9 g5]al ,subsection 7a7 ( section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7,a7 by /rik+ a multiemploy] plan 9 effect on ,july #af1 #bjjf-- & ins]t+ any multiemploy] plan--1 7,b7 by r$esignat+ p>agraphs 7#a71 7#b71 & 7#c7 z p>agraphs 7#b71 7#c71 & 7#d71 respectively1 7,c7 by ins]t+ be=e p>agraph 7#b71 z s r$esignat$1 ! foll[+ new p>agraph3 7#a7 ! rules ( subsection 7c7 %all apply1 1 7,d7 by /rik+ subsection 7c7 9 p>agraph 7#b77;,a71 z s r$esignat$1 & ins]t+ subsection 7d71 7,e7 by /rik+ subsection 7d7 9 p>agraph 7#b77;,b71 z s r$esignat$1 & ins]t+ subsection 7e71 7,f7 by /rik+ subsection 7e7 9 p>agraph 7#c77;,a71 z s r$esignat$1 & ins]t+ subsection 7f71 7,g7 by /rik+ subsection 7f7 9 p>agraph 7#c77;,b71 z s r$esignat$1 & ins]t+ subsection 7g71 & 7,h7 by /rik+ subsection 7e77#i7 9 p>agraph 7#d77;,b71 z s r$esignat$1 & ins]t+ subsection 7f77#i74 7#b7 ,rules ( imm$iate application ,section #dcb ( su* ,code is am5d$-- 7,a7 by r$esignat+ subsections 7c71 7d71 7e71 7f71 7g71 7h71 7i71 & 7j7 z subsections 7d71 7e71 7f71 7g71 7h71 7i71 7j71 & 7k71 respectively1 & 7,b7 by ins]t+ aft] subsection 7b7 ! foll[+ new subsection3 7c7 ,rules apply+ to all multiemploy] plans 7#a7 ,b5efit increases 7,a7 ,increases by plan am5dm5t ,! plan sponsor ( any multiemploy] plan %all n adopt a plan am5dm5t :i* increases plan liabilities 7z det]m9$ z ( ! date ( ! adoption ( ! am5dm5t7 due to any increase 9 b5efits1 any *ange 9 ! accrual rate ( b5efits1 or any *ange 9 ! rate at :i* b5efits become non=feitable1 unless-- 7i7 if ! plan is 9 unre/rict$ /atus z ( ! adoption ( su* am5dm5t1 ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t ! increase 9 liabilities w n cause ! plan to no long] be 9 unre/rict$ /atus1 7ii7 if ! plan is 9 /able /atus z ( ! adoption ( su* am5dm5t1 ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t any su* increase or *ange 9 b5efits w be paid f additional contributions n requir$ by any collective b>ga9+ agreem5t 9 effect z ( ! adoption ( ! am5dm5t1 7iii7 if ! plan is 9 endang]$ /atus z ( ! adoption ( su* am5dm5t1 ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t any su* increase or *ange 9 b5efits w be paid f additional contributions n contemplat$ 9 any curr5t fund+ improvem5t plan1 or 7iv7 ! increase or *ange 9 b5efits is requir$ by law or is a de m9imis *ange4 7,b7 ,increases "u critical or critical & decl9+ /atus ,unless requir$ z a condition ( qualification "u "p ,i ( ?is sub*apt] or to comply ) o!r applicable law1 9 ! case ( a plan :i* is 9 critical or critical & decl9+ /atus1 no increase 9 b5efits1 *ange 9 ! accrual rate ( b5efits1 or *ange 9 ! rate at :i* b5efits become non=feitable :i* increases plan liabilities %all take effect :ile ! plan is 9 su* /atus1 )\t reg>d to :e!r su* increase or *ange w\ld o!rwise occur "u ! provisions ( ! plan1 unless ! increase 9 plan liabilities due to ! *ange is de m9imis4 7#b7 ,contribution r$uctions ,! plan sponsor ( any multiemploy] plan %all n accept any collective b>ga9+ agreem5t or p>ticipation agreem5t :i* r$uces ! rate ( contributions "u ! plan = any p>ticipants1 susp5ds contributions ) respect to any p]iod ( s]vice1 or directly or indirectly excludes y\ng]1 probation>y1 or newly hir$ employees f p>ticipation 9 ! plan1 unless-- 7,a7 ! plan is 9 unre/rict$ /atus z ( ! adoption ( su* agreem5t & ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t ! r$uction 9 contributions w n cause ! plan to no long] be 9 unre/rict$ /atus1 7,b7 ! r$uction 9 contributions is accompani$ by a r$uction 9 future accruals = ! affect$ p>ticipants1 & ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t ! comb9$ effect ( ! *anges 9 contributions & b5efits is n project$ to r$uce ! fund$ p]c5tage ( ! plan 9 any ye>1 or 7,c7 subject to regulations issu$ by ! ,secret>y1 ! plan sponsor reasonably det]m9es t ! acceptance ( su* an agreem5t is 9 ! be/ int]e/s ( plan p>ticipants & b5efici>ies & t rejection ( ! agreem5t w\ld h an adv]se f9ancial effect on ! plan4 4 7#c7 ,/able & unre/rict$ plans ,subsection 7b7 ( section #dcb ( su* ,code is am5d$-- 7,a7 by /rik+ endang]$ & critical 9 ! head+1 7,b7 by r$esignat+ p>agraphs 7#a71 7#b71 7#c71 7#d71 7#e71 & 7#f7 z p>agraphs 7#b71 7#c71 7#d71 7#e71 7#f71 & 7#g71 respectively1 & 7,c7 by ins]t+ be=e p>agraph 7#b7 ! foll[+ new p>agraph3 7#a7 ,/able & unre/rict$ /atus 7,a7 ,/able ,a multiemploy] plan is 9 /able /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#d71 ! plan is n 9 unre/rict$ /atus = ! plan ye>1 is n 9 endang]$1 critical1 or critical & decl9+ /atus = ! plan ye>1 & is n describ$ 9 p>agraph 7#f74 7,b7 ,unre/rict$ ,a multiemploy] plan is 9 unre/rict$ /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#d7-- 7i7 ! plan is n 9 endang]$1 critical1 or critical & decl9+ /atus = ! plan ye>1 7ii7 ! plan is n describ$ 9 p>agraph 7#f71 & 7iii7 z ( ! beg9n+ ( ! plan ye>-- 7,i7 ! plan's curr5t liability fund$ p]c5tage = su* plan ye> is at lea/ #gj p]c5t & ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is at lea/ #aae p]c5t1 or 7,,ii7 ! plan's curr5t liability fund$ p]c5tage = su* plan ye> is at lea/ #hj p]c5t4 7,c7 ,curr5t liability fund$ p]c5tage ,= purposes ( ?is section1 ! t]m curr5t liability fund$ p]c5tage means ! p]c5tage equal to a fraction ! num]ator ( :i* is ! value ( plan assets 7z det]m9$ = purposes ( section #dca7;c77#f77;,a77ii77,,ii77 & ! d5om9ator ( :i* is ! curr5t liabilities ( ! plan 7z def9$ 9 section #dca7;c77#f77;,d774 4 7#d7 ,am5dm5t to annual c]tification by plan actu>y ,subp>agraph 7,a7 ( p>agraph 7#d7 7z r$esignat$ by p>agraph 7#c77 ( section #dcb7;b7 ( su* ,code is am5d$ by ins]t+ :e!r or n ! plan is 9 unre/rict$ or /able /atus = su* plan ye>1 9 clause 7i7 be=e :e!r or n ! plan is 9 endang]$ /atus4 7#e7 ,con=m+ am5dm5ts 7,a7 ,p>agraphs 7#b7 & 7#c7 ( section #dcb7;b7 ( su* ,code1 z r$esignat$ by p>agraph 7#c71 are ea* am5d$ by /rik+ p>agraph 7#c7 & ins]t+ p>agraph 7#d74 7,b7 ,section #dcb7;b77#b7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ p>agraph 7#e7 & ins]t+ p>agraph 7#f74 7,c7 ,section #dcb7;b77#d7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ p>agraph 7#d7 9 subp>agraph 7,b77iv7 !re( & ins]t+ p>agraph 7#e71 7ii7 by /rik+ subsection 7e77#i7 bo? places x appe>s 9 subp>agraph 7,b77v7 & ins]t+ subsection 7f77#i71 7iii7 by /rik+ subsection 7e77#c77;,a77ii7 9 subp>agraph 7,b77v7 & ins]t+ subsection 7f77#c77;,a77ii71 7iv7 by /rik+ subsection 7e7 9 subp>agraph 7,b77v7 & ins]t+ subsection 7f71 7v7 by /rik+ p>agraph 7#d7 ea* place x appe>s 9 subp>agraphs 7,d77i7 & 7,d77v7 !re( & ins]t+ p>agraph 7#e71 7vi7 by /rik+ subsection 7e77#h7 9 subp>agraph 7,d77ii77,i7 !re( & ins]t+ subsection 7f77#h71 7vii7 by /rik+ p>agraph 7#e7 9 subp>agraph 7,d77iii7 !re( & ins]t+ p>agraph 7#f71 & 7viii7 by /rik+ 7iii7 ,9 ! case ( 9 subp>agraph 7,d77iii7 !re( & ins]t+ 7iii7 ,special rule4--4 7,d7 ,section #dcb7;b77#e7 ( su* ,code1 z r$esignat$ by p>agraph 7#c71 is am5d$-- 7i7 by /rik+ p>agraph 7#b7 & ins]t+ p>agraph 7#c71 7ii7 by /rik+ p>agraph 7#c77;,b77iv7 & ins]t+ p>agraph 7#d77;,b77iv71 7iii7 by /rik+ p>agraph 7#c7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#d71 7iv7 by /rik+ p>agraph 7#c77;,a7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#d77;,a71 7v7 by /rik+ p>agraph 7#b7 9 subp>agraph 7,b7 !re( & ins]t+ p>agraph 7#c71 & 7vi7 by /rik+ subsection 7e77#d77;,b7 9 subp>agraph 7,c7 !re( & ins]t+ subsection 7f77#d77;,b74 7,e7 ,section #dcb7;b77#f77;,a7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ p>agraph 7#c77;,a7 & ins]t+ p>agraph 7#d77;,a71 7ii7 by /rik+ p>agraph 7#a77;,a7 & ins]t+ p>agraph 7#b77;,a71 & 7iii7 by /rik+ p>agraph 7#a77;,b7 & ins]t+ p>agraph 7#b77;,b74 7,f7 ,section #dcb7;b77#g7 ( su* ,code1 z s r$esignat$1 is am5d$ by /rik+ p>agraph 7#b7 & ins]t+ p>agraph 7#c74 7,g7 ,p>agraphs 7#a77;,a71 7#d77;,a77ii71 7#d77;,c77i71 7#d77;,c77ii71 7#d77;,d71 7#e77;,a77i71 7#e77;,b71 & 7#h7 ( subsection 7d71 & subsections 7e77#b71 7f77#a77;,a71 7f77#d77;,b77i71 7f77#d77;,b77ii77,i71 7f77#e71 & 7g77#c7 ( section #dcb ( su* ,code1 z respectively r$esignat$ by p>agraph 7#b71 are ea* am5d$ by /rik+ subsection 7b77#c77;,a7 & ins]t+ subsection 7b77#d77;,a74 7,h7 ,section #dcb7;d77#c77;,a77i77,i7 ( su* ,code1 z s r$esignat$1 is am5d$ by /rik+ p>agraph 7b77#c7 & ins]t+ subsection 7b77#d74 7,i7 ,section #dcb7;d77#d77;,d7 ( su* ,code1 z s r$esignat$1 is am5d$ by /rik+ subsection 7d7 & ins]t+ subsection 7e74 7,j7 ,section #dcb7;e7 ( su* ,code1 z s r$esignat$1 is am5d$ to read z foll[s3 7e7 ,rules = op]ation ( plan dur+ adoption & improvem5t p]iods ,a plan may n be am5d$ aft] ! date ( ! adoption ( a fund+ improvem5t plan "u subsection 7d7 s z to be inconsi/5t ) ! fund+ improvem5t plan or ! requirem5ts ( subsection 7c74 4 7,k7 ,clauses 7i77,i7 & 7ii77,i7 ( section #dcb7;f77#d77;,b7 ( su* ,code1 z s r$esignat$1 are ea* am5d$ by /rik+ subsection 7b77#b7 & ins]t+ subsection 7b77#c74 7,l7 ,subsections 7f77#h77;,a77ii7 & 7g77#b77;,a7 ( section #dcb ( su* ,code1 z s r$esignat$1 are ea* am5d$ by /rik+ subsection 7b77#c77;,d7 & ins]t+ subsection 7b77#d77;,d74 7,m7 ,section #dcb7;f77#i77;,j7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ subsection 7b77#c7 & ins]t+ subsection 7b77#d71 & 7ii7 by /rik+ p>agraphs 7#a7 & 7#b7 9 clause 7i7 !re( & ins]t+ p>agraphs 7#b7 & 7#c74 7,n7 ,subp>agraphs 7,a7 & 7,b7 ( section #dcb7;g77#a7 ( su* ,code1 z s r$esignat$1 are ea* am5d$ by /rik+ subsection 7e7 & ins]t+ subsection 7f74 7,o7 ,p>agraph 7#b77;,a7 ( section #dcb7;g7 ( su* ,code1 z s r$esignat$1 is am5d$ by /rik+ 7b77#c77;,d7 & ins]t+ 7b77#d77;,d74 7,p7 ,section #dcb7;h7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ subsection 7e77#h7 or 7f7 9 p>agraph 7#a7 !re( & ins]t+ subsection 7f77#h7 or 7g71 7ii7 by /rik+ subsection 7e77#i7 9 p>agraph 7#a7 !re( & ins]t+ subsection 7f77#i71 7iii7 by /rik+ subsection 7e77#g7 9 p>agraph 7#b7 !re( & ins]t+ subsection 7f77#g71 & 7iv7 by /rik+ rehabilitation plan & all t foll[s 9 p>agraph 7#c77;,b7 !re( & ins]t+ rehabilitation plan4 ,! prec$+ s5t5ce %all n apply to any increase 9 contribution requirem5ts due to increas$ levels ( "w1 employm5t1 or p]iods = :i* comp5sation is provid$1 except to ! ext5t su* an increase is us$ to provide an increas$ accrual rate ( b5efits or *ange 9 ! rate at :i* b5efits become non=feitable :i* increases plan liabilities44 7,q7 ,section #dcb7;i7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ subsection 7c7 & ins]t+ subsection 7d71 & 7ii7 by /rik+ subsection 7e7 & ins]t+ subsection 7f74 7,r7 ,section #dcb7;j77#b7 ( su* ,code1 z s r$esignat$1 is am5d$ by /rik+ subsections 7c7 & 7e7 & ins]t+ subsections 7d7 & 7f74 7,s7 ,section #dab7;b77#c7 ( su* ,code is am5d$ by /rik+ section #dcb7;e7 & ins]t+ section #dcb7;f74 7,t7 ,section #dah;,e ( su* ,code1 z am5d$ by ?is ,act1 is fur!r am5d$-- 7i7 by /rik+ #dcb7;b77#b7 ea* place x appe>s 9 subsections 7c77#a71 7c77#b71 7d77#a71 & 7d77#b71 z r$esignat$ by section #aab1 & ins]t+ #dcb7;b77#c71 & 7ii7 by /rik+ #dcb7;e77#i7 9 subsection 7g71 z s r$esignat$1 & ins]t+ #dcb7;f77#i74 7,u7 ,section #diga7;g7 ( su* ,code is am5d$-- 7i7 by /rik+ #dcb7;e7 9 p>agraph 7#c77;,b77i7 & ins]t+ #dcb7;f71 7ii7 by /rik+ #dcb7;b77#c77;,a77ii7 9 p>agraph 7#c77;,b77ii7 & ins]t+ #dcb7;b77#d77;,a77i77,,ii71 7iii7 by /rik+ #dcb7;e77#a77;,a7 9 p>agraph 7#d77;,b77ii7 & ins]t+ #dcb7;f77#a77;,a71 & 7iv7 by /rik+ #dcb7;j77#i7 9 p>agraph 7#d77;,c77ii7 & ins]t+ #dcb7k77#i74 7,v7 ,subsection 7c77#a7 ( section #dihj;,i ( su* ,code1 z add$ by ?is ,act1 is am5d$ by add+ at ! end ! foll[+3 ,su* t]m %all n include su* an orig9al plan = any plan ye> 9 :i* ! plan is 9 unre/rict$ /atus 7z def9$ 9 section #dcb7;b77#a77;,b7744 7,w7 ,! head+ ( section #dcb ( su* ,code is am5d$ by /rik+ 9 endang]$ /atus or critical /atus4 7#f7 ,)drawal liability det]m9ation = plans em]g+ f endang]$ or critical /atus ,section #dcb7;h7 ( su* ,code1 z r$esignat$ by p>agraph 7#b7 & z am5d$ by p>agraph 7#e71 is fur!r am5d$ by /rik+ p>agraph 7#d7 & by ins]t+ aft] p>agraph 7#c7 ! foll[+ new p>agraph3 7#d7 ,em]g5ce f endang]$ or critical /atus 7,a7 ,9 g5]al ,9 ! case ( increases 9 ! contribution rate 7or o!r increases 9 contribution requirem5ts unless due to increas$ levels ( "w1 employm5t1 or p]iods = :i* comp5sation is provid$7 disreg>d$ pursuant to p>agraph 7#c71 ?is subsection %all cease to apply z ( ! lat] (-- 7i7 ! end ( ! fir/ plan ye> foll[+ ! plan ye> 9 :i* ! plan is no long] 9 endang]$ or critical /atus1 or 7ii7 ! end ( ! plan ye> :i* includes ! expiration date ( ! fir/ collective b>ga9+ agreem5t requir+ plan contributions :i* expires aft] ! plan is no long] 9 endang]$ or critical /atus4 7,b7 ,highe/ contribution rate ,not)/&+ subp>agraph 7,a71 once ! plan em]ges f endang]$ or critical /atus-- 7i7 increases 9 ! contribution rate disreg>d$ pursuant to p>agraph 7#c7 %all cont9ue to be disreg>d$ 9 det]m9+ ! highe/ contribution rate "u section #dbai7;c7 ( su* ,act = plan ye>s dur+ :i* ! plan 0 9 endang]$ or critical /atus1 & 7ii7 ! highe/ contribution rate = purposes ( su* section %all be ! great] (-- 7,i7 ! sum (-- 7aa7 ! employ]'s contribution rate z ( ! lat] ( ! la/ day ( ! la/ plan ye> end+ be=e ,decemb] #ca1 #bjad1 & ! la/ day ( ! plan ye> = :i* ! employ] fir/ _h an obligation to contribute to ! plan1 & 7bb7 any contribution increases det]m9$ 9 accordance ) ?is section aft] su* lat] date & be=e ! date ! employ] )draws f ! plan1 or 7,,ii7 ! highe/ contribution rate = any plan ye> aft] ! plan ye> :i* includes ! e>li] (-- 7aa7 ! expiration date ( ! fir/ collective b>ga9+ agreem5t applicable to ! )draw+ employ] requir+ plan contributions :i* expires aft] ! plan is no long] 9 endang]$ or critical /atus1 or 7bb7 ! date z ( :i* ! )draw+ employ] negotiat$ a contribution rate effective aft] ! plan ye> 9 :i* ! plan is no long] 9 endang]$ or critical /atus4 4 7#g7 ,effective date ,! am5dm5ts made by ?is subsection %all take effect on ! date ( ! enactm5t ( ?is ,act4 7b7 ,det]m9ation ( endang]$ /atus ,p>agraph 7#b7 ( section #dcb7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by subsection 7a77#c71 is am5d$ to read z foll[s3 7#b7 ,endang]$ /atus ,a multiemploy] plan is 9 endang]$ /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#e71 ! plan is n 9 critical or decl9+ /atus = ! plan ye> & is n describ$ 9 p>agraph 7#g71 &1 z ( ! beg9n+ ( ! plan ye>-- 7,a7 ! plan's fund$ p]c5tage = su* plan ye> is less ?an #hj p]c5t1 7,b7 ! plan is project$ to h an accumulat$ fund+ defici5cy = any ( ! #i succe$+ plan ye>s1 tak+ into acc\nt any ext5sion ( amortization p]iods "u section #dca7;d71 or 7,c7 ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is less ?an #ajj p]c5t4 4 7c7 ,det]m9ation ( critical /atus ,p>agraph 7#c7 ( section #dcb7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by subsection 7a77#c71 is am5d$ to read z foll[s3 7#c7 ,critical /atus 7,a7 ,9 g5]al ,a multiemploy] plan is 9 critical /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#e71 ! plan is n 9 decl9+ /atus = ! plan ye> &1 z ( ! beg9n+ ( ! plan ye>-- 7i7 ! plan's fund$ p]c5tage is less ?an #fe p]c5t1 7ii7 ! plan has an accumulat$ fund+ defici5cy = ! plan ye>1 or is project$ to h su* an accumulat$ fund+ defici5cy = any ( ! #f succe$+ plan ye>s1 tak+ into acc\nt any ext5sion ( amortization p]iods "u section #dca7;d71 or 7iii7 ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is less ?an #hj p]c5t4 7,b7 ,orig9al plans ,not)/&+ subp>agraph 7,a71 a multiemploy] plan :i* is an orig9al plan pursuant to section #dbcc;,a7d77#c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd %all be treat$ z be+ 9 critical /atus = ! p]iod ( #ae consecutive plan ye>s beg9n+ ) ! plan ye> t includes ! date ( ! p>tition "u su* section #dbcc;,a4 4 7d7 ,decl9+ /atus 7#a7 ,9 g5]al 7,a7 ,! foll[+ provisions ( section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf are ea* am5d$ by /rik+ critical & decl9+ ea* place x appe>s & ins]t+ decl9+3 7i7 ,subsection 7a77#d7 7z r$esignat$ by subsection 7a77#a774 7ii7 ,subp>agraphs 7,a7 & 7,b77i7 ( subsection 7b77#a71 z add$ by subsection 7a77#c74 7iii7 ,subsection 7b77#d77;,b77v7 7z r$esignat$ by subsection 7a77#c771 & ! head+ !re(4 7iv7 ,p>agraph 7#a77;,b71 & ! head+ ( su* p>agraph 7#a77;,b71 ( subsection 7c71 z add$ by subsection 7a77#b74 7v7 ,! head+ ( p>agraph 7#i7 ( subsection 7f7 7z r$esignat$ by subsection 7a77#b774 7vi7 ,subp>agraphs 7,a71 7,c71 7,g77i71 & 7,j7 ( subsection 7f77#i7 7z s r$esignat$74 7vii7 ,subsection 7h77#a7 7z s r$esignat$74 7,b7 ,section #dah;,e7g7 ( su* ,code1 z am5d$ by section #aab & subsection 7a71 is fur!r am5d$ by /rik+ critical & decl9+ /atus & ins]t+ decl9+ /atus4 7#b7 ,det]m9ation ( decl9+ /atus 7,a7 ,9 g5]al ,subsection 7b7 ( section #dcb ( su* ,code is am5d$-- 7i7 by /rik+ p>agraph 7#g71 z r$esignat$ by subsection 7a77#c71 7ii7 by r$esignat+ p>agraphs 7#d71 7#e71 & 7#f71 z s r$esignat$1 z p>agraphs 7#e71 7#f71 & 7#g71 respectively1 & 7iii7 by ins]t+ aft] p>agraph 7#c71 z s r$esignat$1 ! foll[+ new p>agraph3 7#d7 ,decl9+ /atus ,a multiemploy] plan is 9 decl9+ /atus = a plan ye> if-- 7,a7 z det]m9$ by ! plan actu>y "u p>agraph 7#e71 z ( ! beg9n+ ( ! plan ye> ! plan is project$ to become insolv5t )9 ! plan ye> or any ( ! #bi succe$+ plan ye>s1 7,b7 ! plan is o!rwise 9 critical /atus = ! plan ye> z det]m9$ by ! plan actu>y "u p>agraph 7#e71 & ! plan sponsor det]m9es t1 bas$ on reasonable actu>ial assumptions & ^u exhau/ion ( all reasonable measures1 ! plan _c reasonably be expect$ to em]ge f critical /atus )9 ! next #cj plan ye>s1 or 7,c7 ! plan has a fund$ p]c5tage = ! plan ye> :i* is great] ?an ! project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye>1 unless ! fund$ p]c5tage = ! plan ye> is #ajj p]c5t or great] & ! project$ fund$ p]c5tage z ( ! fir/ day ( su* #ae? succe$+ plan ye> is less ?an #ajj p]c5t4 4 7,b7 ,con=m+ am5dm5ts 7i7 ,p>agraph 7#a7 ( section #dcb7;b7 ( su* ,code1 z add$ by subsection 7a77#c71 is am5d$-- 7,i7 by /rik+ p>agraph 7#d7 ea* place x appe>s 9 subp>agraphs 7,a7 & 7,b7 & ins]t+ p>agraph 7#e71 & 7,,ii7 by /rik+ p>agraph 7#f7 ea* place x appe>s 9 subp>agraphs 7,a7 & 7,b7 & ins]t+ p>agraph 7#g74 7ii7 ,subsection 7c7 ( section #dcb ( su* ,code1 z add$ by subsection 7a77#b71 is am5d$ by /rik+ 7b77#d7 ea* place x appe>s 9 p>agraphs 7#a77;,a77i71 7#a77;,a77ii71 7#a77;,a77iii71 7#b77;,a71 & 7#b77;,b7 & ins]t+ 7b77#e74 7iii7 ,section #dcb7;b77#e7 ( su* ,code1 z fur!r r$esignat$ by subp>agraph 7,a7 & z am5d$ by section #cba & subsection 7a71 is fur!r am5d$-- 7,i7 by /rik+ p>agraph 7#e7 9 subp>agraph 7,b77iv7 !re( & ins]t+ p>agraph 7#f71 7,,ii7 by /rik+ p>agraph 7#e7 ea* place x appe>s 9 subp>agraphs 7,d77i7 & 7,d77vi7 !re( & ins]t+ p>agraph 7#f71 & 7,,iii7 by /rik+ p>agraph 7#f7 9 subp>agraph 7,d77iv7 !re( & ins]t+ p>agraph 7#g74 7iv7 ,section #dcb7;b77#f7 ( su* ,code1 z s fur!r r$esignat$ & am5d$1 is fur!r am5d$-- 7,i7 by /rik+ p>agraph 7#d77;,b77iv7 & ins]t+ p>agraph 7#e77;,b77iv71 7,,ii7 by /rik+ p>agraph 7#d7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#e71 & 7,,iii7 by /rik+ p>agraph 7#d77;,a7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#e77;,a74 7v7 ,section #dcb7;b77#g77;,a7 ( su* ,code1 z s fur!r r$esignat$ & am5d$1 is fur!r am5d$-- 7,i7 by /rik+ p>agraph 7#d77;,a7 & ins]t+ p>agraph 7#e77;,a71 & 7,,ii7 by /rik+ ei!r p>agraph 7#b77;,a7 or p>agraph 7#b77;,b7 & ins]t+ any subp>agraph ( p>agraph 7#b74 7vi7 ,section #dcb7;b77#g77;,b7 ( su* ,code1 z s fur!r r$esignat$1 is am5d$ by /rik+ critical or endang]$ & ins]t+ endang]$1 critical1 or decl9+4 7vii7 ,p>agraphs 7#a77;,a71 7#d77;,a77ii71 7#d77;,c77i71 7#d77;,c77ii71 7#d77;,d71 & 7#h7 ( subsection 7d71 & subsections 7f77#a77;,a71 7f77#d77;,b77i71 7f77#d77;,b77ii77,i71 7f77#e71 & 7g77#c7 ( section #dcb ( su* ,code1 z r$esignat$ & am5d$ by subsection 7a71 are ea* fur!r am5d$ by /rik+ subsection 7b77#d77;,a7 & ins]t+ subsection 7b77#e77;,a74 7viii7 ,section #dcb7;d77#c77;,a77i77,i7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ subsection 7b77#d7 & ins]t+ subsection 7b77#e74 7ix7 ,subsections 7f77#h77;,a77ii7 & 7g77#b77;,a7 ( section #dcb ( su* ,code1 z s r$esignat$ & am5d$1 are ea* fur!r am5d$ by /rik+ subsection 7b77#d77;,d7 & ins]t+ subsection 7b77#e77;,d74 7x7 ,section #dcb7;f77#i77;,j7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ subsection 7b77#d7 & ins]t+ subsection 7b77#e74 7#c7 ,solv5cy plan 7,a7 ,9 g5]al ,p>agraph 7#d7 7z r$esignat$ by subsection 7a77#a7 & am5d$ by p>agraph 7#a77 ( section #dcb7;a7 ( su* ,code is am5d$-- 7i7 by r$esignat+ subp>agraph 7,b7 z subp>agraph 7,d71 & 7ii7 by /rik+ subp>agraph 7,a7 & ins]t+ be=e subp>agraph 7,d7 7z s r$esignat$7 ! foll[+ new subp>agraphs3 7,a7 ! plan sponsor %all adopt & implem5t a solv5cy plan 9 accordance ) ! requirem5ts ( subsection 7h71 7,b7 any rehabilitation plan 9 place z ( ! date ! plan ent]s decl9+ /atus %all cont9ue to apply ?r\gh\t ! solv5cy plan adoption p]iod1 7,c7 ! requirem5ts ( subsection 7i7 & p>agraphs 7#f7 & 7#g7 ( subsection 7f7 %all apply dur+ ! solv5cy plan adoption p]iod & ! solv5cy atta9m5t p]iod1 & 4 7,b7 ,adoption ( plan ,section #dcb ( su* ,code1 z am5d$ by ?is section1 is fur!r am5d$-- 7i7 by r$esignat+ subsection 7l71 z add$ by title ,v ( ?is ,act1 z subsection 7n71 & by fur!r r$esignat+ subsections 7h71 7i71 7j71 & 7k71 z r$esignat$ by subsection 7a77#b71 z subsections 7j71 7k71 7l71 & 7m71 respectively1 & 7ii7 by ins]t+ aft] subsection 7g71 z r$esignat$ by subsection 7a77#b71 ! foll[+ new subsections3 7h7 ,solv5cy plan mu/ be adopt$ = multiemploy] plans 9 decl9+ /atus 7#a7 ,9 g5]al ,9 any case 9 :i* a multiemploy] plan is 9 decl9+ /atus = a plan ye>1 ! plan sponsor1 9 accordance ) ?is subsection-- 7,a7 %all adopt a solv5cy plan n lat] ?an #bdj days foll[+ ! requir$ date = ! actu>ial c]tification ( decl9+ /atus "u subsection 7b77#e77;,a71 & 7,b7 )9 #cj days aft] ! adoption ( ! solv5cy plan %all provide to ! b>ga9+ p>ties #a or m s*$ules %[+ revis$ b5efit /ructures1 revis$ contribution /ructures1 or bo?1 :i*1 if adopt$1 may reasonably be expect$ to enable ! multiemploy] plan to meet ! requirem5ts ( p>agraph 7#c71 includ+-- 7i7 "o default proposal "u :i*-- 7,i7 all adju/able b5efits 9 ! =m ( e>ly retirem5t subsidies 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 "u ! plan are elim9at$1 & 7,,ii7 ! future mon?ly b5efit accrual rate "u ! plan is r$uc$ to ! equival5t ( #a p]c5t ( annual contributions 7or1 if l[]1 ! curr5t accrual rate7 bas$ on ! contribution rate 9 effect z ( ! lat] ( ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s decl9+ /atus or ! date ( a p>tition "u section #dbcc;,a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd1 & :i* may also include r$uction or elim9ation ( any o!r adju/able b5efits "u ! plan1 & 7ii7 any additional s*$ules :i* r$uce or elim9ate adju/able b5efits "u ! plan :i* ! plan sponsor deems appropriate to provide z an alt]native to ! default proposal4 ,no s*$ule provid$ to or adopt$ by ! b>ga9+ p>ties %all provide = a mon?ly b5efit accrual rate 9 excess ( ! rate describ$ 9 subp>agraph 7,b77i77,,ii74 7#b7 ,exception = ye>s aft] process beg9s ,p>agraph 7#a7 %all n apply to a plan ye> if su* ye> is 9 a solv5cy plan adoption p]iod or solv5cy atta9m5t p]iod by reason ( ! plan be+ 9 decl9+ /atus = a prec$+ plan ye>1 except t ! next update ( ! solv5cy plan %all fulfill ! requirem5t ( p>agraph 7#a77;,b77i74 ,= purposes ( ?is section1 su* prec$+ plan ye> %all be ! initial det]m9ation ye> ) respect to ! solv5cy plan to :i* x relates4 7#c7 ,solv5cy plan ,= purposes ( ?is section1 a solv5cy plan is a plan :i* consi/s ( ! actions1 includ+ options or a range ( options to be propos$ to ! b>ga9+ p>ties1 =mulat$1 bas$ on reasonably anticipat$ exp]i5ce & reasonable actu>ial assumptions1 to enable ! plan to delay or avoid ! project$ insolv5cy4 7#d7 ,solv5cy atta9m5t p]iod ,= purposes ( ?is section-- 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 ! solv5cy atta9m5t p]iod = any solv5cy plan adopt$ pursuant to ?is subsection is ! p]iod-- 7i7 beg9n+ on ! fir/ day ( ! fir/ plan ye> ( ! multiemploy] plan beg9n+ aft] ! e>li] (-- 7,i7 ! second anniv]s>y ( ! date ( ! adoption ( ! solv5cy plan1 or 7,,ii7 ! expiration ( ! collective b>ga9+ agreem5ts 9 effect on ! due date = ! actu>ial c]tification ( decl9+ /atus = ! initial det]m9ation ye> "u subsection 7b77#e77;,a7 & cov]+1 z ( su* due date1 at lea/ #ge p]c5t ( ! active p>ticipants 9 su* plan1 & 7ii7 end+ on ! date ! plan ei!r em]ges f decl9+ /atus or becomes insolv5t4 7,b7 ,coord9ation ) *anges 9 /atus 7i7 ,plans no long] 9 decl9+ /atus ,if ! plan's actu>y c]tifies 9 accordance ) subp>agraph 7,c7 = a plan ye> 9 any solv5cy plan adoption p]iod or solv5cy atta9m5t p]iod t ! plan is no long] 9 decl9+ /atus1 ! solv5cy plan adoption p]iod or solv5cy atta9m5t p]iod1 :i*ev] is applicable1 %all end z ( ! date ( su* c]tification4 7ii7 ,plans 9 critical or endang]$ /atus ,if ! plan's actu>y c]tifies "u subsection 7b77#e77;,a7 = ! plan ye> describ$ 9 clause 7i7 t ! plan is 9 critical or endang]$ r ?an decl9+ /atus1 ! provisions ( subsections 7d7 & 7e71 or subsections 7f7 & 7g71 :i*ev] are applicable1 %all be appli$ z if su* plan ye> 7 an initial det]m9ation ye>1 except t ! plan may n be am5d$ 9 a mann] inconsi/5t ) ! solv5cy plan 9 effect = ! prec$+ plan ye> until a new fund+ improvem5t plan or rehabilitation plan1 :i*ev] is applicable1 is adopt$4 7,c7 ,em]g5ce ,a plan 9 decl9+ /atus %all rema9 9 su* /atus until a plan ye> = :i* ! plan actu>y c]tifies1 9 accordance ) subsection 7b77#e77;,a71 t ! plan is n describ$ 9 "o or m ( ! subp>agraphs 9 subsection 7b77#d7 z ( ! beg9n+ ( ! plan ye>4 7#e7 ,updates to solv5cy plans & s*$ules 7,a7 ,solv5cy plan ,! plan sponsor %all annually update ! solv5cy plan & %all file ! update ) ! plan's annual report "u section #ajd ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd4 7,b7 ,s*$ules ,! plan sponsor %all annually update any s*$ule ( contribution rates provid$ "u ?is subsection to reflect ! exp]i5ce ( ! plan4 7,c7 ,duration ( s*$ule ,a s*$ule ( contribution rates provid$ by ! plan sponsor & reli$ ^u by b>ga9+ p>ties 9 negotiat+ a collective b>ga9+ agreem5t %all rema9 9 effect = ! duration ( t collective b>ga9+ agreem5t4 7#f7 ,imposition ( s*$ule :]e failure to adopt solv5cy plan 7,a7 ,initial contribution s*$ule ,if-- 7i7 a collective b>ga9+ agreem5t provid+ = contributions "u a multiemploy] plan t 0 9 effect at ! "t ! plan ent]$ decl9+ /atus expires1 & 7ii7 aft] receiv+ "o or m s*$ules f ! plan sponsor "u p>agraph 7#a77;,b71 ! b>ga9+ p>ties ) respect to su* agreem5t fail to adopt a contribution s*$ule ) t]ms consi/5t ) ! solv5cy plan & a s*$ule f ! plan sponsor1 ! plan sponsor %all implem5t ! s*$ule describ$ 9 p>agraph 7#a77;,b77i7 beg9n+ on ! date specifi$ 9 subp>agraph 7,c74 7,b7 ,subsequ5t contribution s*$ule ,if-- 7i7 a collective b>ga9+ agreem5t provid+ = contributions "u a multiemploy] plan 9 accordance ) a s*$ule provid$ by ! plan sponsor pursuant to a solv5cy plan 7or impos$ "u subp>agraph 7,a77 expires :ile ! plan is /ill 9 decl9+ /atus1 & 7ii7 aft] receiv+ "o or m updat$ s*$ules f ! plan sponsor "u p>agraph 7#e77;,b71 ! b>ga9+ p>ties ) respect to su* agreem5t fail to adopt a contribution s*$ule ) t]ms consi/5t ) ! updat$ solv5cy plan & a s*$ule f ! plan sponsor1 !n ! contribution s*$ule applicable "u ! expir$ collective b>ga9+ agreem5t1 z updat$ & 9 effect on ! date ! collective b>ga9+ agreem5t expires1 %all be implem5t$ by ! plan sponsor beg9n+ on ! date specifi$ 9 subp>agraph 7,c74 7,c7 ,date ( implem5tation ,! date specifi$ 9 ?is subp>agraph is ! date :i* is #ahj days aft] ! date on :i* ! collective b>ga9+ agreem5t describ$ 9 subp>agraph 7,a7 or 7,b7 expires4 7#g7 ,solv5cy plan adoption p]iod ,= purposes ( ?is section1 ! t]m solv5cy plan adoption p]iod means ! p]iod beg9n+ on ! date ( ! c]tification "u subsection 7b77#e77;,a7 = ! initial det]m9ation ye> & end+ on ! day be=e ! fir/ day ( ! solv5cy atta9m5t p]iod4 7i7 ,rules = op]ation ( plan dur+ adoption & atta9m5t p]iods 7#a7 ,compliance ) solv5cy plan 7,a7 ,9 g5]al ,a plan may n be am5d$ aft] ! date ( ! adoption ( a solv5cy plan "u subsection 7h7 s z to be inconsi/5t ) ! solv5cy plan4 7,b7 ,special rules = b5efit increases ,a plan may n be am5d$ aft] ! date ( ! adoption ( a solv5cy plan "u subsection 7h7 s z to increase b5efits1 includ+ future b5efit accruals1 unless ! increase is requir$ by law or is a de m9imis *ange4 7,c7 ,special rules = increases 9 comp5sation or contribution rate ,any increase 9 employee comp5sation or contribution rates :i* takes effect aft] ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s decl9+ /atus %all n give rise to an increase 9 b5efits or future b5efit accruals "u ! plan4 7#b7 ,re/riction on lump sums & simil> b5efits 7,a7 ,9 g5]al ,effective on ! date ! notice ( c]tification ( ! plan's decl9+ /atus = ! initial det]m9ation ye> "u subsection 7b77#e77;,d7 is s5t1 & not)/&+ section #daa7;d77#f71 ! plan %all n pay-- 7i7 any paym5t1 9 excess ( ! mon?ly am\nt paid "u a s+le life annuity 7plus any social security supplem5ts describ$ 9 ! la/ s5t5ce ( section #daa7;a77#i771 to a p>ticipant or b5efici>y ^: annuity />t+ date 7z def9$ 9 section #dag7;f77#b77 occurs aft] ! date su* notice is s5t1 7ii7 any paym5t = ! pur*ase ( an irrevocable commitm5t f an insur] to pay b5efits1 or 7iii7 any o!r paym5t specifi$ by ! ,secret>y by regulations1 unless x is a de m9imis am\nt4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply to a b5efit :i* "u section #daa7;a77#aa7 may be imm$iately di/ribut$ )\t ! cons5t ( ! p>ticipant or to any makeup paym5t 9 ! case ( a retroactive annuity />t+ date or any simil> paym5t ( b5efits ow$ ) respect to a prior p]iod4 7#c7 ,special rules = plan adoption p]iod ,dur+ ! p]iod beg9n+ on ! date ( ! c]tification "u subsection 7b77#e77;,a7 = ! initial det]m9ation ye> & end+ on ! date ( ! adoption ( a solv5cy plan-- 7,a7 ! plan sponsor may n accept a collective b>ga9+ agreem5t or p>ticipation agreem5t ) respect to ! multiemploy] plan t provides =-- 7i7 a r$uction 9 ! level ( contributions = any p>ticipants1 7ii7 a susp5sion ( contributions ) respect to any p]iod ( s]vice1 or 7iii7 any new direct or indirect exclusion ( y\ng] or newly hir$ employees f plan p>ticipation1 unless ! plan sponsor reasonably det]m9es t ! acceptance ( su* an agreem5t is 9 ! be/ int]e/s ( p>ticipants & b5efici>ies & t rejection ( su* agreem5t w\ld adv]sely affect ! plan1 & 7,b7 no am5dm5t ( ! plan :i* increases ! liabilities ( ! plan by reason ( any increase 9 b5efits1 any *ange 9 ! accrual ( b5efits1 or any *ange 9 ! rate at :i* b5efits become non=feitable "u ! plan may be adopt$ unless ! am5dm5t is requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a or to comply ) o!r applicable law4 4 7,c7 ,susp5sion ( b5efits ,section #dcb ( su* ,code1 z am5d$ by ?is section1 is fur!r am5d$-- 7i7 by r$esignat+ p>agraph 7#i7 ( subsection 7f7 7z r$esignat$ by subsection 7a77#b77 z p>agraph 7#h7 ( subsection 7h7 7z add$ by subp>agraph 7,b771 & 7ii7 by mov+ su* p>agraph to ! position imm$iately aft] p>agraph 7#g7 ( su* subsection 7h74 7#d7 ,con=m+ am5dm5ts 7,a7 ,subsection 7a77#d77;,d7 ( section #dcb ( su* ,code1 z r$esignat$ & am5d$ by ! prec$+ provisions ( ?is section1 is fur!r am5d$ by /rik+ subsection 7f77#i7 & ins]t+ subsection 7h77#h74 7,b7 ,p>agraph 7#e7 ( section #dcb7;b7 ( su* ,code1 z s r$esignat$ & z am5d$ by section #cba & ! prec$+ provisions ( ?is section1 is fur!r am5d$-- 7i7 by /rik+ critical 9 subp>agraph 7,a77i77,i7 & ins]t+ critical or decl9+1 7ii7 by /rik+ fund+ improvem5t or rehabilitation p]iod 9 subp>agraph 7,a77i77,,ii7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy atta9m5t p]iod1 7iii7 by /rik+ fund+ improvem5t or rehabilitation plan 9 subp>agraph 7,a77i77,,ii7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 7iv7 by /rik+ endang]$ or critical 9 subp>agraph 7,a77i77,v77bb7 & ins]t+ endang]$1 critical1 or decl9+1 7v7 by /rik+ fund+ improvem5t plan or rehabilitation 9 subp>agraph 7,a77iv7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy1 7vi7 by /rik+ critical ea* place x appe>s 9 subp>agraph 7,a77vi7 & ins]t+ critical or decl9+1 7vii7 by /rik+ rehabilitation p]iod 9 subp>agraph 7,a77vi7 & ins]t+ rehabilitation or solv5cy atta9m5t p]iod1 7viii7 by /rik+ z describ$ 9 subsection 7f77#i7 9 subp>agraph 7,b77v71 7ix7 by ins]t+ if ! plan is already 9 a rehabilitation p]iod1 & be=e if reasonable 9 subp>agraph 7,b77v77,i71 7x7 by /rik+ subsection 7f77#i7 9 subp>agraph 7,b77v77,,ii7 & ins]t+ subsection 7h77#h71 7xi7 by /rik+ endang]$ or critical bo? places x appe>s 9 subp>agraph 7,d77i7 & ins]t+ endang]$1 critical1 or decl9+1 7xii7 by /rik+ endang]$ or critical 9 ! head+ ( subp>agraph 7,d77ii7 & ins]t+ endang]$1 critical1 or decl9+1 7xiii7 by /rik+ endang]$ or critical 9 subp>agraph 7,d77ii7 & ins]t+ endang]$1 critical1 or decl9+1 7xiv7 by /rik+ fund+ improvem5t or rehabilitation plan bo? places x appe>s 9 subclauses 7,i7 & 7,,ii7 ( subp>agraph 7,d77ii7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 & 7xv7 by add+ at ! end ( subp>agraph 7,d7 ! foll[+ new clause3 7vii7 ,notice ( projection to be 9 decl9+ /atus 9 a future plan ye> ,9 any case 9 :i* x is c]tifi$ "u subp>agraph 7,a77i7 t a multiemploy] plan w be 9 decl9+ /atus = any ( #e succe$+ plan ye>s 7b n = ! curr5t plan ye>71 ! plan sponsor %all1 n lat] ?an #cj days aft] ! date ( ! c]tification1 provide notification ( ! project$ decl9+ /atus to ! ,p5sion ,b5efit ,gu>anty ,corporation4 4 7,c7 ,subp>agraph 7,j7 ( section #dcb7;h77#h7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ critical 9 ! head+ & ins]t+ decl9+1 & 7ii7 by /rik+ %all n em]ge f critical /atus "u p>agraph 7#d77;,b71 & ins]t+ %all n em]ge f decl9+ /atus4 7,d7 ,subsection 7j7 ( section #dcb ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ 7f77#h7 or 7g7 9 p>agraph 7#a7 & ins]t+ 7f77#h71 7g71 or 7i71 7ii7 by /rik+ subsection 7f77#i7 9 p>agraph 7#a7 & ins]t+ subsection 7h77#h71 7iii7 by /rik+ fund+ improvem5t or rehabilitation plan 9 ! head+ ( p>agraph 7#c7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy1 7iv7 by /rik+ fund+ improvem5t plan or rehabilitation plan bo? places x appe>s 9 subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#c7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 7v7 by /rik+ endang]$ or critical 9 ! head+ ( p>agraph 7#d71 z am5d$ by subsection 7a71 & ins]t+ endang]$1 critical1 or decl9+1 7vi7 by /rik+ endang]$ or critical ea* place x appe>s 9 p>agraph 7#d71 z s am5d$1 & ins]t+ endang]$1 critical1 or decl9+1 & 7vii7 by /rik+ critical or endang]$ 9 p>agraph 7#d7 & ins]t+ endang]$1 critical1 or decl9+4 7,e7 ,subsection 7k7 ( section #dcb ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ or a rehabilitation plan "u subsection 7f7 & ins]t+ 1 a rehabilitation plan "u subsection 7f71 or a solv5cy plan "u subsection 7h71 7ii7 by /rik+ endang]$ /atus or a plan 9 critical /atus & ins]t+ endang]$1 critical1 or decl9+ /atus1 7iii7 by /rik+ has n agre$ on a fund+ improvem5t plan or rehabilitation plan & ins]t+ has n agre$ on a fund+ improvem5t1 rehabilitation1 or solv5cy plan 7:i*ev] is applicable71 & 7iv7 by /rik+ adoption ( a fund+ improvem5t plan or rehabilitation plan & ins]t+ adoption ( a fund+ improvem5t1 rehabilitation1 or solv5cy plan4 7,f7 ,subsection 7l7 ( section #dcb ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ endang]$ /atus or 9 critical /atus 9 p>agraph 7#a7 & ins]t+ endang]$1 critical1 or decl9+ /atus1 7ii7 by /rik+ endang]$ or critical 9 p>agraph 7#a7 & ins]t+ endang]$1 critical1 or decl9+1 & 7iii7 by /rik+ 7d7 & 7f7 9 p>agraph 7#b7 & ins]t+ 7d71 7f71 & 7h74 7,g7 ,section #dah;,e ( su* ,code1 z am5d$ by section #aab & ?is section1 is fur!r am5d$-- 7i7 by /rik+ #dcb7;b77#c7 ea* place x appe>s 9 subsections 7c77#a71 7c77#b71 7d77#a71 & 7d77#b7 & ins]t+ #dcb7;b77#c71 or a plan 9 decl9+ /atus1 z describ$ 9 section #dcb7;b77#d71 & 7ii7 by /rik+ #dcb7;f77#i7 9 subsection 7g7 & ins]t+ #dcb7;h77#h74 7,h7 ,section #diga7;g7 ( su* ,code1 z am5d$ by ?is section1 is fur!r am5d$-- 7i7 by /rik+ endang]$ or critical 9 ! head+ & ins]t+ endang]$1 critical1 or decl9+1 7ii7 by /rik+ critical /atus 9 p>agraph 7#a77;,a7 & ins]t+ critical or decl9+ /atus1 7iii7 by /rik+ or rehabilitation plan 9 ! head+ ( p>agraph 7#b7 & ins]t+ 1 rehabilitation1 or solv5cy plan1 7iv7 by /rik+ plan or rehabilitation plan 9 p>agraph 7#b77;,a7 & ins]t+ 1 rehabilitation1 or solv5cy plan1 7v7 by /rik+ rehabilitation plan 9 p>agraph 7#b77;,c7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 7vi7 by /rik+ p>agraph 7#c7 & r$esignat+ p>agraphs 7#d71 7#e71 & 7#f7 z p>agraphs 7#c71 7#d71 & 7#e71 respectively1 7vii7 by /rik+ rehabilitation plan 9 ! head+ ( p>agraph 7#c71 z s r$esignat$1 & ins]t+ rehabilitation or solv5cy plan1 7viii7 by /rik+ critical /atus 9 p>agraph 7#c77;,a71 z s r$esignat$1 & ins]t+ critical or decl9+ /atus1 7ix7 by /rik+ rehabilitation plan 9 p>agraph 7#c77;,a71 z s r$esignat$1 & ins]t+ rehabilitation or solv5cy plan1 7x7 by /rik+ describ$ 9 section #dcb7;f77#a77;,a7 & end+ on ! day on :i* ! rehabilitation plan is adopt$ 9 p>agraph 7#c77;,b77ii71 z s r$esignat$1 & ins]t+ describ$ 9 section #dcb7;f77#a77;,a7 or #dcb7;h77#a77;,a71 :i*ev] is applicable1 & end+ on ! day on :i* ! rehabilitation plan or solv5cy plan is adopt$1 7xi7 by /rik+ #dcb7k77#i7 9 p>agraph 7#c77;,c77ii71 z s r$esignat$1 & ins]t+ #dcb7n77#i71 & 7xii7 by /rik+ or 7#c7 9 p>agraph 7#d71 z s r$esignat$4 7e7 ,adju/m5t ( b5efits 7#a7 ,9 g5]al ,section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by fur!r r$esignat+ subsections 7m7 & 7n71 z r$esignat$ by subsection 7d71 z subsections 7n7 & 7o71 respectively1 7,b7 by r$esignat+ p>agraph 7#h7 ( subsection 7f71 z r$esignat$ by subsection 7a77#b71 z subsection 7m71 & 7,c7 by mov+ su* subsection to ! position imm$iately aft] subsection 7l74 7#b7 ,cl]ical & con=m+ am5dm5ts 7,a7 ,! head+ ( subsection 7m7 ( section #dcb ( su* ,code1 z r$esignat$ by p>agraph 7#a71 is am5d$ to read z foll[s3 7m7 ,adju/m5t ( b5efits 4 7,b7 ,! foll[+ provisions ( su* subsection 7m7 are am5d$ z foll[s3 7i7 ,subp>agraphs 7,a71 7,b71 & 7,c7 are r$esignat$ z p>agraphs 7#a71 7#b71 & 7#d71 respectively1 & mov$ #b ems to ! left4 7ii7 ,clauses 7i71 7ii71 7iii71 & 7iv7 ( p>agraph 7#a7 7z s r$esignat$7 are r$esignat$ z subp>agraphs 7,a71 7,b71 7,c71 & 7,d71 respectively1 & mov$ #b ems to ! left4 7iii7 ,subclauses 7,i71 7,,ii71 & 7,,iii7 ( p>agraph 7#a77;,d7 7z s r$esignat$7 are r$esignat$ z clauses 7i71 7ii71 & 7iii71 respectively1 & mov$ #b ems to ! left4 7iv7 ,clauses 7i71 7ii71 & 7iii7 ( p>agraph 7#d7 7z s r$esignat$7 are r$esignat$ z subp>agraphs 7,a71 7,b71 & 7,c71 respectively1 & mov$ #b ems to ! left1 & ! flu% s5t5ce at ! end ( subp>agraph 7,c7 7z s r$esignat$7 is mov$ #b ems to ! left4 7v7 ,subclauses 7,i71 7,,ii71 & 7,,iii7 ( p>agraph 7#d77;,a7 7z s r$esignat$7 are r$esignat$ z clauses 7i71 7ii71 & 7iii71 respectively1 & mov$ #b ems to ! left4 7vi7 ,subclauses 7,i7 & 7,,ii7 ( p>agraph 7#d77;,b7 7z s r$esignat$7 are r$esignat$ z clauses 7i7 & 7ii71 respectively1 & mov$ #b ems to ! left4 7vii7 ,subclauses 7,i71 7,,ii71 & 7,,iii7 ( p>agraph 7#d77;,c7 7z s r$esignat$7 are r$esignat$ z clauses 7i71 7ii71 & 7iii71 respectively1 & mov$ #b ems to ! left4 7viii7 ,p>agraph 7#a77;,a71 z s r$esignat$1 is am5d$ by /rik+ subp>agraph 7,c7 & ins]t+ p>agraph 7#d74 7ix7 ,p>agraph 7#a77;,b71 z s r$esignat$1 is am5d$ by /rik+ clause 7iv77,,iii7 & ins]t+ subp>agraph 7,d77iii74 7x7 ,p>agraph 7#a77;,d71 z s r$esignat$1 is am5d$ by /rik+ ?is p>agraph & ins]t+ ?is subsection4 7xi7 ,p>agraph 7#b71 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subp>agraph 7,a77iv77,,iii7 & ins]t+ p>agraph 7#a77;,d77iii71 & 7,,ii7 by /rik+ ?is p>agraph & ins]t+ ?is subsection4 7xii7 ,p>agraph 7#d77;,a71 z s r$esignat$1 is am5d$ by /rik+ subp>agraph 7,a7 & ins]t+ p>agraph 7#a74 7xiii7 ,p>agraphs 7#d77;,b7 & 7#d77;,c71 z s r$esignat$1 are ea* am5d$ by /rik+ clause 7i7 ea* place x appe>s & ins]t+ subp>agraph 7,a74 7xiv7 ,! la/ s5t5ce ( p>agraph 7#d77;,c71 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subclause 7,i7 & ins]t+ clause 7i71 & 7,,ii7 by /rik+ ?is subp>agraph & ins]t+ ?is p>agraph4 7#c7 ,application to all plans 9 endang]$1 critical1 or decl9+ /atus 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #dcb7m77#a7 ( su* ,code1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7i7 by /rik+ ! plan sponsor %all & ins]t+ ! plan sponsor ( a multiemploy] plan 9 endang]$1 critical1 or decl9+ /atus may1 & 7ii7 by /rik+ p>agraph 7#a77;,b77i7 & ins]t+ subsection 7d77#a77;,b71 7f77#a77;,b71 or 7h77#a77;,b71 :i*ev] is applicable4 7,b7 ,con=m+ am5dm5t ,subp>agraph 7,b7 ( section #dcb7m77#a7 ( su* ,code1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by /rik+ critical bo? places x appe>s & ins]t+ endang]$1 critical1 or decl9+4 7#d7 ,additional adju/able b5efits 7,a7 ,9 g5]al ,subp>agraph 7,d7 ( section #dcb7m77#a7 ( su* ,code1 z r$esignat$ by ?is section1 is am5d$-- 7i7 by ins]t+ 1 includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis1 aft] 7i77 9 clause 7ii71 z s r$esignat$1 7ii7 by /rik+ & at ! end ( clause 7ii7 7z s r$esignat$71 7iii7 by /rik+ t w\ld n be eligible & all t foll[s ?r\gh ! p]iod 9 clause 7iii7 7z s r$esignat$7 & ins]t+ :i* 7 adopt$ 7or1 if lat]1 took effect7 less ?an #abj mon?s be=e ! fir/ day ( ! fir/ plan ye> 9 :i* ! plan 0 9 endang]$1 critical1 or decl9+ /atus11 & 7iv7 by add+ at ! end ! foll[+ new clauses3 7iv7 any "o-"t bonus paym5t or ?irte5? *eck provision1 & 7v7 b5efits grant$ = p]iods ( s]vice prior to p>ticipation 9 ! plan4 4 7,b7 ,con=m+ am5dm5ts 7i7 ,subp>agraph 7,b7 ( section #dcb7m77#a7 ( su* ,code1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by /rik+ subp>agraph 7,d77iii7 & ins]t+ clause 7iii71 7iv71 or 7v7 ( subp>agraph 7,d74 7ii7 ,p>agraph 7#b7 ( section #dcb7m7 ( su* ,code1 z am5d$ by p>agraph 7#b77;,b71 is fur!r am5d$ by /rik+ p>agraph 7#a77;,d77iii7 & ins]t+ clause 7iii71 7iv71 or 7v7 ( p>agraph 7#a77;,d74 7#e7 ,rules relat+ to susp5sion ( b5efits ^u return to "w ,subsection 7m7 ( section #dcb ( su* ,code1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ,rules relat+ to susp5sion ( b5efits ^u return to "w ,! plan sponsor ( a multiemploy] plan 9 endang]$1 critical1 or decl9+ /atus may am5d rules reg>d+ ! susp5sion ( a p>ticipant's b5efits ^u a return to "w aft] comm5cem5t ( b5efits1 or ! comm5cem5t ( b5efits aft] normal retirem5t age 7includ+ 9 ! case ( cont9u$ employm5t aft] normal retirem5t age74 ,any su* *anges %all apply only to future paym5ts ( b5efits4 4 7#f7 ,additional con=m+ am5dm5ts 7,a7 ,clause 7iii7 ( section #dcb7;b77#e77;,d7 ( su* ,code1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7i7 by /rik+ critical 9 ! head+ & ins]t+ endang]$1 critical1 or decl9+1 7ii7 by /rik+ critical /atus bo? places x appe>s & ins]t+ endang]$1 critical1 or decl9+ /atus1 & 7iii7 by /rik+ subsection 7f77#h7 9 subclause 7,i7 & ins]t+ subsection 7m77#a77;,d74 7,b7 ,subsection 7j7 ( section #dcb ( su* ,code1 z am5d$ by subsection 7d71 is fur!r am5d$ by /rik+ 7f77#h71 7g71 or 7i7 & ins]t+ 7e71 7g71 7i71 or 7m74 7f7 ,elections ,to be 9 critical or endang]$ /atus 7#a7 ,9 g5]al ,p>agraph 7#f7 ( section #dcb7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by /rik+ is n 9 critical /atus 9 subp>agraph 7,a7 & ins]t+ is n 9 critical or decl9+ /atus1 7,b7 by /rik+ b t is project$ 9 subp>agraph 7,a7 & ins]t+ 8b-- 7i7 t is project$ 1 7,c7 by /rik+ #e plan ye>s may1 n lat] ?an 9 subp>agraph 7,a7 & ins]t+ 8#e plan ye>s1 or 7ii7 t is 9 endang]$ /atus & is n reasonably project$ to be able to em]ge f endang]$ /atus )9 ! fund+ improvem5t p]iod "u ! fund+ improvem5t plan 9 effect1 may1 n lat] ?an 1 & 7,d7 by /rik+ "u p>agraph 7#c7 9 subp>agraph 7,b7 & ins]t+ "u p>agraph 7#c7 or = endang]$ /atus "u p>agraph 7#b74 7#b7 ,election to be 9 endang]$ /atus ,subsection 7b7 ( section #dcb ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#h7 ,election to be 9 endang]$ /atus ,not)/&+ p>agraph 7#b7-- 7,a7 ! plan sponsor ( a multiemploy] plan t is n 9 endang]$1 critical1 or decl9+ /atus = a plan ye> b t is project$ by ! plan actu>y1 pursuant to ! det]m9ation "u p>agraph 7#e71 to be 9 endang]$ /atus 9 any ( ! #e succe$+ plan ye>s1 may1 n lat] ?an #cj days aft] ! date ( ! c]tification "u p>agraph 7#e77;,a71 elect to be 9 endang]$ /atus effective = ! curr5t plan ye>1 7,b7 ! plan ye> 9 :i* ! plan sponsor elects to be 9 endang]$ /atus "u subp>agraph 7,a7 %all be treat$ = purposes ( ?is section z ! fir/ ye> 9 :i* ! plan is 9 endang]$ /atus1 reg>dless ( ! date on :i* ! plan fir/ satisfies ! crit]ia = endang]$ /atus "u p>agraph 7#b71 & 7,c7 a plan t is 9 endang]$ /atus "u ?is p>agraph %all n em]ge f endang]$ /atus unless ! plan's actu>y c]tifies "u p>agraph 7#e77;,a7 t ! plan is no long] 9 endang]$ /atus & is n 9 critical or decl9+ /atus4 4 7g7 ,am5dm5ts relat+ to fund+ improvem5t plan 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #dcb7;d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by /rik+ ! la/ s5t5ce1 & 7,b7 9 subp>agraph 7,b71 by /rik+ fund+ improvem5t plan-- & all t foll[s & ins]t+ 8fund+ improvem5t plan1 %all provide to ! b>ga9+ p>ties #a or m s*$ules %[+ revis$ b5efit /ructures1 revis$ contribution /ructures1 or bo?1 :i*1 if adopt$1 may reasonably be expect$ to enable ! multiemploy] plan to meet ! requirem5ts ( p>agraph 7#c71 includ+-- 7i7 "o default proposal "u :i*-- 7,i7 all adju/able b5efits 9 ! =m ( e>ly retirem5t subsidies 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 "u ! plan are elim9at$1 & 7,,ii7 ! future mon?ly b5efit accrual rate "u ! plan is r$uc$ to ! equival5t ( #a p]c5t ( annual contributions 7or1 if l[]1 ! accrual rate z ( ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba7 bas$ on ! contribution rate 9 effect z ( ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s endang]$ /atus1 & :i* may also include r$uction or elim9ation ( any o!r adju/able b5efits "u ! plan1 & 7ii7 any additional s*$ules :i* r$uce or elim9ate adju/able b5efits "u ! plan :i* ! plan sponsor deems appropriate to provide z an alt]native to ! default proposal4 4 7#b7 ,fund+ improvem5t plan ,p>agraph 7#c7 ( section #dcb7;d7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7,a7 by /rik+ ,= purposes ( ?is section-- & all t foll[s ?r\gh :i* consi/s ( 9 subp>agraph 7,a7 & ins]t+ ,= purposes ( ?is section1 a fund+ improvem5t plan is a plan :i* consi/s (1 & 7,b7 by /rik+ =mulat$ to provide & all t foll[s & ins]t+ 8=mulat$1 bas$ on reasonably anticipat$ exp]i5ce & reasonable actu>ial assumptions1 to-- 7,a7 enable ! plan to no long] be 9 endang]$ /atus 7z c]tifi$ by ! plan actu>y7 by ! end ( ! fund+ improvem5t p]iod1 & 7,b7 avoid any accumulat$ fund+ defici5cies dur+ ! fund+ improvem5t p]iod 7tak+ into acc\nt any ext5sion ( amortization p]iods "u section #dca7;d774 4 7#c7 ,fund+ improvem5t p]iod ,p>agraph 7#d7 ( section #dcb7;d7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ subp>agraph 7,b7 & ins]t+ aft] subp>agraph 7,a7 ! foll[+ new subp>agraph3 7,b7 ,new p]iod bas$ on adv]se exp]i5ce 7i7 ,9 g5]al ,if ! plan's actu>y det]m9es necess>y bas$ on adv]se plan exp]i5ce1 ! plan sponsor may provide = a new #aj-ye> p]iod z ( ! fir/ day ( any plan ye> 9 ! orig9al fund+ improvem5t p]iod1 b only if ! plan is /ill project$ to meet ! requirem5ts ( ! fund+ improvem5t plan & em]ge f endang]$ /atus at ! end ( ! new fund+ improvem5t p]iod4 7ii7 ,limitation ,a plan sponsor may provide a new #aj-ye> p]iod "u clause 7i7 n m ?an #a "t 9 any #bj-;consecutive-ye> p]iod1 unless ! plan sponsor submits to ! ,secret>y an application = an additional new p]iod4 ,su* application %all include a c]tification t ! plan is project$ to em]ge f endang]$ /atus 9 ! propos$ new #aj-ye> p]iod & a description ( key assumptions1 to be specifi$ 9 regulations promulgat$ by ! ,secret>y 9 consultation ) ! ,p5sion ,b5efit ,gu>anty ,corporation4 4 7#d7 ,con=m+ am5dm5ts 7,a7 ,subp>agraph 7,c7 ( section #dcb7;d77#d7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ critical /atus bo? places x appe>s 9 clauses 7i7 & 7ii7 & ins]t+ critical or decl9+ /atus1 7ii7 by /rik+ rehabilitation p]iod 9 clause 7ii7 & ins]t+ rehabilitation or solv5cy atta9m5t p]iod1 & 7iii7 by /rik+ critical /atus 9 ! head+ ( clause 7ii7 & ins]t+ critical or decl9+ /atus4 7,b7 ,subsection 7d7 ( section #dcb ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ p>agraph 7#e7 & by r$esignat+ p>agraphs 7#f71 7#g71 & 7#h7 z p>agraphs 7#e71 7#f71 & 7#g71 respectively4 7,c7 ,p>agraph 7#f7 ( section #dcb7;d7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ 7#a77;,b77i77,i7 9 subp>agraph 7,a7 & ins]t+ 7#a77;,b77i71 & 7ii7 by /rik+ p>agraph 7#f77;,b7 9 subp>agraph 7,b77ii7 & ins]t+ p>agraph 7#e77;,b74 7,d7 ,p>agraph 7#b7 ( section #dcb7;d7 ( su* ,code1 z s r$esignat$1 is am5d$ by ins]t+ 1 except t ! next update ( ! fund+ improvem5t plan %all fulfill ! requirem5t ( p>agraph 7#a77;,b77i7 aft] = a prec$+ plan ye>4 7h7 ,am5dm5ts relat+ to rehabilitation plan 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #dcb7;f7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by /rik+ ! la/ #b s5t5ces1 & 7,b7 9 subp>agraph 7,b71 by /rik+ rehabilitation plan-- & all t foll[s & ins]t+ 8rehabilitation plan1 %all provide to ! b>ga9+ p>ties #a or m s*$ules %[+ revis$ b5efit /ructures1 revis$ contribution /ructures1 or bo?1 :i*1 if adopt$1 may reasonably be expect$ to enable ! multiemploy] plan to meet ! requirem5ts ( p>agraph 7#c71 includ+-- 7i7 "o default proposal "u :i*-- 7,i7 all adju/able b5efits 9 ! =m ( e>ly retirem5t subsidies 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 "u ! plan are elim9at$1 & 7,,ii7 ! future mon?ly b5efit accrual rate "u ! plan is r$uc$ to ! equival5t ( #a p]c5t ( annual contributions 7or1 if l[]1 ! accrual rate z ( ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba7 bas$ on ! contribution rate 9 effect z ( ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s critical /atus1 & :i* may also include r$uction or elim9ation ( any o!r adju/able b5efits "u ! plan1 & 7ii7 any additional s*$ules :i* r$uce or elim9ate adju/able b5efits "u ! plan :i* ! plan sponsor deems appropriate to provide z an alt]native to ! default proposal4 ,9 ! case ( a plan adopt+ a rehabilitation plan describ$ 9 p>agraph 7#c77;,a77ii71 no s*$ule provid$ to or adopt$ by ! b>ga9+ p>ties %all provide = a mon?ly b5efit accrual rate 9 excess ( ! rate describ$ 9 subp>agraph 7,b77i77,,ii74 4 7#b7 ,rehabilitation plan 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #dcb7;f77#c7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ & may include & all t foll[s ?r\gh su* actions 9 clause 7i71 7ii7 by ins]t+ 1 :ile delay+ insolv5cy = z long z possible & maximiz+ ! income ( ! plan1 includ+ income aft] insolv5cy be=e ! p]iod 9 clause 7ii71 & 7iii7 by /rik+ 7#a77;,b77i7 9 ! la/ s5t5ce & ins]t+ 7#a77;,b74 7,b7 ,con=m+ am5dm5ts ,clause 7i7 ( section #dcb7;f77#c77;,c7 ( su* ,code1 z s r$esignat$1 is am5d$-- 7i7 by /rik+ 7#a77;,b77i7 9 subclause 7,,ii7 & ins]t+ 7#a77;,b71 & 7ii7 by /rik+ ! la/ s5t5ce ( p>agraph 7#a7 & ins]t+ p>agraph 7#a77;,b77i74 7#c7 ,rehabilitation p]iod 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #dcb7;f77#d7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ ,! rehabilitation p]iod & ins]t+ ,except z o!rwise provid$ 9 ?is subp>agraph1 ! rehabilitation p]iod1 & 7ii7 by add+ at ! end ! foll[+3 ,if1 ^u exhau/ion ( all reasonable measures1 ! plan is n reasonably expect$ to em]ge f critical /atus by ! end ( su* #aj-ye> p]iod1 ! rehabilitation p]iod %all be ext5d$ to take into acc\nt ! project$ date ( em]g5ce f critical /atus 7if ! rehabilitation plan rema9$ 9 effect until su* date7 or ! project$ date ( insolv5cy 7if applicable7 7unless ! plan ent]s decl9+ /atus744 7,b7 ,em]g5ce f critical /atus ,subp>agraph 7,b7 ( section #dcb7;f77#d7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by ins]t+ & is n 9 decl9+ /atus1 aft] ! comma 9 clause 7i77,i71 7ii7 by /rik+ subclause 7,,iii7 ( clause 7i7 & ins]t+ ! foll[+3 7,,iii7 ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is at lea/ #ajj p]c5t & is project$ to increase aft] su* date4 1 7iii7 by /rik+ t-- & all t foll[s ?r\gh reg>dless ( :e!r 9 clause 7ii77,i7 & ins]t+ t ! plan meets ! requirem5ts ( subclauses 7,,ii7 & 7,,iii7 ( clause 7i71 reg>dless ( :e!r1 & 7iv7 by /rik+ unless-- & all t foll[s 9 clause 7ii77,,ii7 & ins]t+ unless1 z ( su* plan ye>1 ! plan fails to meet ! requirem5ts ( subclause 7,,ii7 or 7,,iii7 ( clause 7i744 7#d7 ,rules relat+ to b5efit increases dur+ rehabilitation p]iod ,subp>agraph 7,b7 ( section #dcb7;g77#a7 ( su* ,code1 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ unless & all t foll[s & ins]t+ unless ! am5dm5t is requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a or to comply ) o!r applicable law1 or ! am5dm5t provides = only a de m9imis increase 9 ! liabilities ( ! plan44 7#e7 ,con=m+ am5dm5ts 7,a7 ,p>agraph 7#f7 ( section #dcb7;f7 ( su* ,code1 z s r$esignat$1 is am5d$ by /rik+ ! la/ s5t5ce ( p>agraph 7#a7 & ins]t+ p>agraph 7#a77;,b77i74 7,b7 ,p>agraph 7#b7 ( section #dcb7;f7 ( su* ,code1 z s r$esignat$1 is am5d$ by ins]t+ 1 except t ! next update ( ! rehabilitation plan %all fulfill ! requirem5t ( p>agraph 7#a77;,b77i7 aft] = a prec$+ plan ye>4 7i7 ,actu>ial assumptions 7#a7 ,9 g5]al ,subsection 7n7 ( section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by subsections 7a71 7d71 & 7e71 is am5d$-- 7,a7 by /rik+ me?od 9 ! head+ & ins]t+ me?od & assumptions1 & 7,b7 by add+ at ! end ! foll[+ new p>agraph3 7#aa7 ,actu>ial assumptions 7,a7 ,9 g5]al ,! actu>ial assumptions reli$ ^u = purposes ( ?is section by a plan actu>y %all be individually reasonable &1 9 ! aggregate1 %all be reasonable & 7) ! exception ( assumptions reg>d+ future contributions7 repres5t ! actu>y's be/ e/imate ( future plan exp]i5ce1 )9 limitations prescrib$ by ! ,secret>y4 ,a plan actu>y %all avoid cons]vatism or optimism 9 individual assumptions to ! ext5t t !y w\ld result 9 a set ( assumptions t is unreasonable 9 ! aggregate4 7,b7 ,inve/m5t returns ,! inve/m5t return assumption = project+ plan assets may diff] f ! actu>ial valuation int]e/ rate4 ,9 select+ ! inve/m5t return assumption = project+ plan assets1 ! plan actu>y %all e/imate ! expect$ return ( ! plan's inve/m5ts z curr5tly inve/$ & z expect$ to be inve/$ 9 ! future1 consi/5t ) ! plan's adopt$ inve/m5t policy1 if applicable4 ,x is reasonable = an actu>y to expect t ! plan's inve/m5t decisions w consid] risk1 expect$ returns ov] "t1 & expect$ future b5efit paym5ts4 ,! inve/m5t return assumption %all n exce$ ! int]e/ rate us$ to det]m9e pa/ s]vice liability "u section #dca7;b77#f74 7,c7 ,contributions 7i7 ,9 g5]al ,! plan actu>y %all develop assumptions = ! projection ( future contributions1 includ+ assumptions reg>d+ indu/ry activity among contribut+ employ]s & contribution rates1 bas$ on in=mation provid$ by ! plan sponsor1 :i* mu/ act reasonably & 9 good fai?4 ,! plan actu>y %all c]tify ! reasonabl5ess ( all assumptions4 7ii7 ,project$ indu/ry activity ,any projection ( activity 9 ! indu/ry or indu/ries cov]$ by ! plan1 includ+ future cov]$ employm5t & contribution levels1 %all be bas$ on in=mation provid$ by ! plan sponsor act+ reasonably & 9 good fai?4 7iii7 ,future contribution base units 7,i7 ,decl9+ contribution base units ,if rec5t exp]i5ce ( ! plan has be5 decl9+ contribution base units1 ! plan actu>y may assume future contribution base units w cont9ue to decl9e at ! same annualiz$ tr5d z ov] ! #e imm$iately prec$+ plan ye>s1 unless ! actu>y det]m9es t !re h be5 significant *anges t w\ld make su* assumption unreasonable4 7,,ii7 ,flat or increas+ contribution base units ,if rec5t exp]i5ce ( ! plan has be5 increas+1 or nei!r increas+ nor decreas+1 contribution base units1 ! plan actu>y may assume future contribution base units w rema9 un*ang$ indef9itely1 unless ! actu>y det]m9es t !re h be5 significant *anges t w\ld make su* assumption unreasonable4 7iv7 ,future contribution rates 7,i7 ,9 g5]al ,projections ( contributions %all be bas$ on ! contribution rates consi/5t ) ! t]ms ( collective b>ga9+ & p>ticipation agreem5ts curr5tly 9 effect4 7,,ii7 ,future increases 9 accordance ) correction plans ,if reasonable & applicable1 ! plan actu>y may assume future increases 9 contribution rates consi/5t ) ! adopt$ fund+ improvem5t plan1 rehabilitation plan1 or solv5cy plan4 7,,iii7 ,additional factors ,in=mation provid$ by ! plan sponsor to ! plan actu>y 9 sett+ ! assumption reg>d+ future increases 9 contribution rates %all take into acc\nt ! ability ( ! p>ticipat+ employ]s to make contributions at ! s*$ul$ rates ov] "t1 consid]+ relevant factors su* z project$ indu/ry activity1 ! f9ancial /r5g? ( p>ticipat+ employ]s1 m>ket competition1 & ! s*$ul$ contribution rate to ! plan relative to ! ov]all wage package4 7,d7 ,assumptions = develop+ s*$ules ,all s*$ules "u any fund+ improvem5t plan1 rehabilitation plan1 or solv5cy plan mu/ be develop$ bas$ on ! same set ( actu>ial assumptions unless x w\ld be unreasonable to d s1 tak+ into acc\nt ! anticipat$ impact ( ! s*$ules on p>ticipant behavior & employ] p>ticipation4 4 7#b7 ,additions to ,=m #eejj ,s*$ule ,,mb ,subp>agraph 7,b7 ( section #dcb7;b77#e7 ( su* ,code1 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by add+ at ! end ! foll[+ new clause3 7vi7 ,additional atta*m5ts ,! plan actu>y %all atta* to ! c]tification requir$ "u subp>agraph 7,a7-- 7,i7 docum5tation support+ ! c]tification ( /atus "u subp>agraph 7,a71 includ+ projections ( ! fund+ /&>d acc\nt1 fund$ p]c5tage1 & solv5cy ( ! plan1 7,,ii7 a cle> description ( ! key assumptions us$ 9 p]=m+ ! projections1 includ+ inve/m5t returns1 contribution base units1 & contribution rates1 7,,iii7 a #e-ye> hi/ory ( contributions1 includ+ contribution base units1 av]age contribution rates1 & )drawal liability paym5ts1 & a comp>ison ( su* contribution base units1 rates1 & paym5ts to projections made by ! plan1 & 7,,iv7 an alt]nate projection ( ! fund+ /&>d acc\nt1 fund$ p]c5tage1 & solv5cy1 bas$ on ! foll[+ assumptions3 7aa7 ,annual future inve/m5t returns on plan assets equal ! actu>ial int]e/ rate assumption m9us #a p]c5t4 7bb7 ,future contribution base units project$ us+ a tr5d equal to ! less] (-- 7,,aa7 ! annualiz$ tr5d ( actual contribution base units ov] ! #e prec$+ plan ye>s1 & 7,,bb7 no *ange 9 future contribution base units4 7cc7 ,no increases 9 future contribution rates beyond ^? consi/5t ) ! collective b>ga9+ agreem5ts & p>ticipation agreem5ts 9 effect = ! plan ye>4 7dd7 ,! )drawal f ! plan ( ! employ] :i* has contribut$ ! greate/ total am\nt ( contributions ov] ! #e prec$+ plan ye>s1 if su* employ] has contribut$ at lea/ #aj p]c5t ( ! total contributions to ! plan ov] su* #e plan ye>s & su* employ] has a bel[ inve/m5t grade cr$it rat+ 7b only if obta9+ ! cr$it rat+ ( su* employ] is n an undue burd574 7ee7 ,if su* cr$it rat+ _c be obta9$ )\t undue burd51 ! )drawal ( ! employ] :i* has contribut$ ! greate/ total am\nt ( contributions ov] ! #e prec$+ plan ye>s1 if su* employ] has contribut$ at lea/ #aj p]c5t ( ! total contributions to ! plan ov] su* #e plan ye>s )\t reg>d to collection ( any )drawal liability4 7ff7 ,if no employ] has contribut$ at lea/ #aj p]c5t ( ! total contributions to ! plan ov] ! #e prec$+ plan ye>s1 ! )drawal ( ! employ] :i* contribut$ ! greate/ total am\nt ( contributions = ! curr5t plan ye>1 )\t reg>d to collection ( any )drawal liability1 unless ! employ] contribut$ less ?an #a p]c5t ( ! total contributions to ! plan = su* plan ye>4 7gg7 ,o!r assumptions consi/5t ) ! projection bas$ on ! actu>y's be/ e/imate assumptions4 4 7#c7 ,con=m+ am5dm5ts 7,a7 ,section #dcb7;b77#e77;,b77i7 ( su* ,code1 z r$esignat$ by ?is section1 is am5d$ by /rik+ assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,b7 ,section #dcb7;b77#e77;,a77vi7 ( su* ,code1 z am5d$ by ?is section & section #cba1 is fur!r am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,c7 ,p>agraph 7#c7 ( section #dcb7;d7 ( su* ,code1 z am5d$ by subsection 7g71 is fur!r am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,d7 ,clause 7i7 ( section #dcb7;f77#c77;,a7 ( su* ,code1 z am5d$ by subsection 7h71 is fur!r am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,e7 ,section #dcb7;h77#c7 ( su* ,code1 z add$ by subsection 7d71 is am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7j7 ,con=m+ am5dm5ts relat+ to legacy plans 7#a7 ,subsections 7a77#c77;,f71 7b77#a77;,b77i71 7b77#a77;,h77iv71 & 7d77#f77;,a7 ( section #daa ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by title ,v1 are ea* fur!r am5d$ by /rik+ #dcb7;f7 ea* place x appe>s & ins]t+ #dcb7;h77#h74 7#b7 ,sections #dca7;b77#aj71 #ddj;,a7d77#b77;,d71 & #ddj;,a7d77#d7 ( su* ,code1 z add$ by title ,v1 are ea* am5d$ by /rik+ endang]$ or critical & ins]t+ endang]$1 critical1 or decl9+4 7#c7 ,section #dcg7;b77#a7 ( su* ,act1 z s add$1 is am5d$ by /rik+ endang]$ or critical bo? places x appe>s & ins]t+ endang]$1 critical1 or decl9+4 7#d7 ,sections #dcg7;b77#e77;,b7 & #ddj;,a7b77#a77;,a7 ( su* ,code1 z s add$1 are ea* am5d$ by /rik+ endang]$ or critical & ins]t+ endang]$1 critical1 or decl9+4 7#e7 ,sections #dcg7;b77#a71 #dcg7;b77#e77;,b71 #ddj;,a7b77#a77;,a71 & #ddj;,a7e77#c7 ( su* ,code1 z s add$1 are ea* am5d$ by /rik+ #dcb7;b77#d7 & ins]t+ #dcb7;b77#e74 7#f7 ,sections #dch7;b77#e7 & #ddj;,a7d77#b77;,a7 ( su* ,code1 z s add$1 are ea* am5d$ by /rik+ #dcb7;b77#d77;,b7 & ins]t+ #dcb7;b77#e77;,b74 7#g7 ,section #dch7;b77#a7 ( su* ,code1 z s add$1 is am5d$ by /rik+ & at ! end ( subp>agraph 7,b71 by /rik+ ! p]iod at ! end ( subp>agraph 7,c7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new subp>agraph3 7,d7 consi/5t ) ! pr9ciples ( subp>agraphs 7,b71 7,c71 & 7,d7 ( section #dcb7n77#aa74 4 7#h7 ,section #dci7;a77#b77;,d7 ( su* ,code1 z s add$1 is am5d$ by /rik+ #dcb7;f77#i77;,d77vi7 & ins]t+ #dcb7;h77#h77;,d77vi74 7#i7 ,section #dci7;a77#c7 ( su* ,code1 z s add$1 is am5d$ by /rik+ #dcb7;f77#h7 & ins]t+ #dcb7m77#a77;,d74 7#aj7 ,section #ddj;,a7d77#b77;,d7 ( su* ,code1 z s add$ & am5d$1 is fur!r am5d$ by /rik+ fund+ improvem5t or rehabilitation plan & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan4 7k7 ,effective date ,except z o!rwise provid$ 9 subsection 7a77#g71 ! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 7l7 ,cr$it rat+s ,no requirem5t ( section #ici or #ici;,a ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#abd ,/at4 #ahhg2 #ae ,u4,s4,c4 #gho-#g note7 %all apply ) respect to ! am5dm5t made by subsection 7i77#b74 #bab4 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd 7a7 ,rules apply+ to all multiemploy] plans 7#a7 ,9 g5]al ,subsection 7a7 ( section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7 is am5d$-- 7,a7 by /rik+ a multiemploy] plan 9 effect on ,july #af1 #bjjf-- & ins]t+ any multiemploy] plan--1 7,b7 by r$esignat+ p>agraphs 7#a71 7#b71 & 7#c7 z p>agraphs 7#b71 7#c71 & 7#d71 respectively1 7,c7 by ins]t+ be=e p>agraph 7#b71 z s r$esignat$1 ! foll[+ new p>agraph3 7#a7 ! rules ( subsection 7c7 %all apply1 1 7,d7 by /rik+ subsection 7c7 9 p>agraph 7#b77;,a71 z s r$esignat$1 & ins]t+ subsection 7d71 7,e7 by /rik+ subsection 7d7 9 p>agraph 7#b77;,b71 z s r$esignat$1 & ins]t+ subsection 7e71 7,f7 by /rik+ subsection 7e7 9 p>agraph 7#c77;,a71 z s r$esignat$1 & ins]t+ subsection 7f71 7,g7 by /rik+ subsection 7f7 9 p>agraph 7#c77;,b71 z s r$esignat$1 & ins]t+ subsection 7g71 & 7,h7 by /rik+ subsection 7e77#i7 9 p>agraph 7#d77;,b71 z s r$esignat$1 & ins]t+ subsection 7f77#i74 7#b7 ,rules ( imm$iate application ,section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe7 is am5d$-- 7,a7 by r$esignat+ subsections 7c71 7d71 7e71 7f71 7g71 7h71 7i71 & 7j7 z subsections 7d71 7e71 7f71 7g71 7h71 7i71 7j71 & 7k71 respectively1 & 7,b7 by ins]t+ aft] subsection 7b7 ! foll[+ new subsection3 7c7 ,rules apply+ to all multiemploy] plans 7#a7 ,b5efit increases 7,a7 ,increases by plan am5dm5t ,! plan sponsor ( any multiemploy] plan %all n adopt a plan am5dm5t :i* increases plan liabilities 7z det]m9$ z ( ! date ( ! adoption ( ! am5dm5t7 due to any increase 9 b5efits1 any *ange 9 ! accrual rate ( b5efits1 or any *ange 9 ! rate at :i* b5efits become non=feitable1 unless-- 7i7 if ! plan is 9 unre/rict$ /atus z ( ! adoption ( su* am5dm5t1 ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t ! increase 9 liabilities w n cause ! plan to no long] be 9 unre/rict$ /atus1 7ii7 if ! plan is 9 /able /atus z ( ! adoption ( su* am5dm5t1 ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t any su* increase or *ange 9 b5efits w be paid f additional contributions n requir$ by any collective b>ga9+ agreem5t 9 effect z ( ! adoption ( ! am5dm5t1 7iii7 if ! plan is 9 endang]$ /atus z ( ! adoption ( su* am5dm5t1 ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t any su* increase or *ange 9 b5efits w be paid f additional contributions n contemplat$ 9 any curr5t fund+ improvem5t plan1 or 7iv7 ! increase or *ange 9 b5efits is requir$ by law or is a de m9imis *ange4 7,b7 ,increases "u critical or critical & decl9+ /atus ,unless requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf or to comply ) o!r applicable law1 9 ! case ( a plan :i* is 9 critical or critical & decl9+ /atus1 no increase 9 b5efits1 *ange 9 ! accrual rate ( b5efits1 or *ange 9 ! rate at :i* b5efits become non=feitable :i* increases plan liabilities %all take effect :ile ! plan is 9 su* /atus1 )\t reg>d to :e!r su* increase or *ange w\ld o!rwise occur "u ! provisions ( ! plan1 unless ! increase 9 plan liabilities due to ! *ange is de m9imis4 7#b7 ,contribution r$uctions ,! plan sponsor ( any multiemploy] plan %all n accept any collective b>ga9+ agreem5t or p>ticipation agreem5t :i* r$uces ! rate ( contributions "u ! plan = any p>ticipants1 susp5ds contributions ) respect to any p]iod ( s]vice1 or directly or indirectly excludes y\ng]1 probation>y1 or newly hir$ employees f p>ticipation 9 ! plan1 unless-- 7,a7 ! plan is 9 unre/rict$ /atus z ( ! adoption ( su* agreem5t & ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t ! r$uction 9 contributions w n cause ! plan to no long] be 9 unre/rict$ /atus1 7,b7 ! r$uction 9 contributions is accompani$ by a r$uction 9 future accruals = ! affect$ p>ticipants1 & ! plan actu>y c]tifies 9 accordance ) subsection 7b77#d7 t ! comb9$ effect ( ! *anges 9 contributions & b5efits is n project$ to r$uce ! fund$ p]c5tage ( ! plan 9 any ye>1 or 7,c7 subject to regulations issu$ by ! ,secret>y ( ! ,treasury1 ! plan sponsor reasonably det]m9es t ! acceptance ( su* an agreem5t is 9 ! be/ int]e/s ( plan p>ticipants & b5efici>ies & t rejection ( ! agreem5t w\ld h an adv]se f9ancial effect on ! plan4 4 7#c7 ,/able & unre/rict$ plans ,subsection 7b7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe7 is am5d$-- 7,a7 by /rik+ endang]$ & critical 9 ! head+1 7,b7 by r$esignat+ p>agraphs 7#a71 7#b71 7#c71 7#d71 7#e71 & 7#f7 z p>agraphs 7#b71 7#c71 7#d71 7#e71 7#f71 & 7#g71 respectively1 & 7,c7 by ins]t+ be=e p>agraph 7#b7 ! foll[+ new p>agraph3 7#a7 ,/able & unre/rict$ /atus 7,a7 ,/able ,a multiemploy] plan is 9 /able /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#d71 ! plan is n 9 unre/rict$ /atus = ! plan ye>1 is n 9 endang]$1 critical1 or critical & decl9+ /atus = ! plan ye>1 & is n describ$ 9 p>agraph 7#f74 7,b7 ,unre/rict$ ,a multiemploy] plan is 9 unre/rict$ /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#d7-- 7i7 ! plan is n 9 endang]$1 critical1 or critical & decl9+ /atus = ! plan ye>1 7ii7 ! plan is n describ$ 9 p>agraph 7#f71 & 7iii7 z ( ! beg9n+ ( ! plan ye>-- 7,i7 ! plan's curr5t liability fund$ p]c5tage = su* plan ye> is at lea/ #gj p]c5t & ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is at lea/ #aae p]c5t1 or 7,,ii7 ! plan's curr5t liability fund$ p]c5tage = su* plan ye> is at lea/ #hj p]c5t4 7,c7 ,curr5t liability fund$ p]c5tage ,= purposes ( ?is section1 ! t]m curr5t liability fund$ p]c5tage means ! p]c5tage equal to a fraction ! num]ator ( :i* is ! value ( plan assets 7z det]m9$ = purposes ( section #cjd7;c77#f77;,a77ii77,,ii77 & ! d5om9ator ( :i* is ! curr5t liabilities ( ! plan 7z def9$ 9 section #cjd7;c77#f77;,d774 4 7#d7 ,am5dm5t to annual c]tification by plan actu>y ,subp>agraph 7,a7 ( p>agraph 7#d7 7z r$esignat$ by p>agraph 7#c77 ( section #cje7;b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77 is am5d$ by ins]t+ :e!r or n ! plan is 9 unre/rict$ or /able /atus = su* plan ye>1 9 clause 7i7 be=e :e!r or n ! plan is 9 endang]$ /atus4 7#e7 ,con=m+ & te*nical am5dm5ts 7,a7 ,te*nical correction ,section #cje7;b77#c77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#c77;,b77 is am5d$ by r$esignat+ ! clause 7iv7 relat+ to projections ( critical & decl9+ /atus1 z add$ by section #bja7;a77#e7 ( ! ,consolidat$ & ,fur!r ,cont9u+ ,appropriations ,act1 #bjae1 z clause 7v71 & by mov+ su* clause to ! position imm$iately aft] clause 7iv74 7,b7 ,con=m+ am5dm5ts 7i7 ,p>agraphs 7#b7 & 7#c7 ( section #cje7;b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b771 z r$esignat$ by p>agraph 7#c71 are ea* am5d$ by /rik+ p>agraph 7#c7 & ins]t+ p>agraph 7#d74 7ii7 ,section #cje7;b77#b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#b771 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ p>agraph 7#e7 & ins]t+ p>agraph 7#f74 7iii7 ,section #cje7;b77#d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#d771 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ p>agraph 7#d7 9 subp>agraph 7,b77iv7 !re( & ins]t+ p>agraph 7#e71 7,,ii7 by /rik+ subsection 7e77#i7 bo? places x appe>s 9 subp>agraph 7,b77v71 z r$esignat$ by subp>agraph 7,a71 & ins]t+ subsection 7f77#i71 7,,iii7 by /rik+ subsection 7e77#c77;,a77ii7 9 subp>agraph 7,b77v71 z s r$esignat$1 & ins]t+ subsection 7f77#c77;,a77ii71 7,,iv7 by /rik+ subsection 7e7 9 subp>agraph 7,b77v71 z s r$esignat$1 & ins]t+ subsection 7f71 7,v7 by /rik+ p>agraph 7#d7 ea* place x appe>s 9 subp>agraphs 7,d77i7 & 7,d77v7 !re( & ins]t+ p>agraph 7#e71 7,,vi7 by /rik+ subsection 7e77#h7 9 subp>agraph 7,d77iii77,i7 !re( & ins]t+ subsection 7f77#h71 7,,vii7 by /rik+ p>agraph 7#e7 9 subp>agraph 7,d77iii7 !re( & ins]t+ p>agraph 7#f71 & 7,,viii7 by /rik+ 7iii7 ,9 ! case ( 9 subp>agraph 7,d77iii7 !re( & ins]t+ 7iii7 ,special rule4--4 7iv7 ,section #cje7;b77#e7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#e771 z r$esignat$ by p>agraph 7#c71 is am5d$-- 7,i7 by /rik+ p>agraph 7#b7 & ins]t+ p>agraph 7#c71 7,,ii7 by /rik+ p>agraph 7#c77;,b77iv7 & ins]t+ p>agraph 7#d77;,b77iv71 7,,iii7 by /rik+ p>agraph 7#c7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#d71 7,,iv7 by /rik+ p>agraph 7#c77;,a7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#d77;,a71 7,v7 by /rik+ p>agraph 7#b7 9 subp>agraph 7,b7 !re( & ins]t+ p>agraph 7#c71 & 7,,vi7 by /rik+ subsection 7e77#d77;,b7 9 subp>agraph 7,c7 !re( & ins]t+ subsection 7f77#d77;,b74 7v7 ,section #cje7;b77#f77;,a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#f77;,a771 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ p>agraph 7#c77;,a7 & ins]t+ p>agraph 7#d77;,a71 7,,ii7 by /rik+ p>agraph 7#a77;,a7 & ins]t+ p>agraph 7#b77;,a71 & 7,,iii7 by /rik+ p>agraph 7#a77;,b7 & ins]t+ p>agraph 7#b77;,b74 7vi7 ,section #cje7;b77#g7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#g771 z s r$esignat$1 is am5d$ by /rik+ p>agraph 7#b7 & ins]t+ p>agraph 7#c74 7vii7 ,p>agraphs 7#a77;,a71 7#d77;,a77ii71 7#d77;,c77i71 7#d77;,c77ii71 7#d77;,d71 7#e77;,a77i71 7#e77;,b71 & 7#h7 ( subsection 7d71 & subsections 7e77#b71 7f77#a77;,a71 7f77#d77;,b77i71 7f77#d77;,b77ii77,i71 7f77#e71 & 7g77#c7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z respectively r$esignat$ by p>agraph 7#b71 are ea* am5d$ by /rik+ subsection 7b77#c77;,a7 & ins]t+ subsection 7b77#d77;,a74 7viii7 ,section #cje7;d77#c77;,a77i77,i7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d77#c77;,a77i77,i771 z s r$esignat$1 is am5d$ by /rik+ p>agraph 7b77#c7 & ins]t+ subsection 7b77#d74 7ix7 ,section #cje7;d77#d77;,d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d77#d77;,d771 z s r$esignat$1 is am5d$ by /rik+ subsection 7d7 & ins]t+ subsection 7e74 7x7 ,section #cje7;e7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;e771 z s r$esignat$1 is am5d$ to read z foll[s3 7e7 ,rules = op]ation ( plan dur+ adoption & improvem5t p]iods ,a plan may n be am5d$ aft] ! date ( ! adoption ( a fund+ improvem5t plan "u subsection 7d7 s z to be inconsi/5t ) ! fund+ improvem5t plan or ! requirem5ts ( subsection 7c74 4 7xi7 ,clauses 7i77,i7 & 7ii77,i7 ( section #cje7;f77#d77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#d77;,b771 z s r$esignat$1 are ea* am5d$ by /rik+ subsection 7b77#b7 & ins]t+ subsection 7b77#c74 7xii7 ,subsections 7f77#h77;,a77ii7 & 7g77#b77;,a7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$1 are ea* am5d$ by /rik+ subsection 7b77#c77;,d7 & ins]t+ subsection 7b77#d77;,d74 7xiii7 ,section #cje7;f77#i77;,j7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,j771 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subsection 7b77#c7 & ins]t+ subsection 7b77#d71 & 7,,ii7 by /rik+ p>agraphs 7#a7 & 7#b7 9 clause 7i7 !re( & ins]t+ p>agraphs 7#b7 & 7#c74 7xiv7 ,subp>agraphs 7,a7 & 7,b7 ( section #cje7;g77#a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;g77#a771 z s r$esignat$1 are ea* am5d$ by /rik+ subsection 7e7 & ins]t+ subsection 7f74 7xv7 ,p>agraph 7#b77;,a7 ( section #cje7;g7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;g771 z s r$esignat$1 is am5d$ by /rik+ 7b77#c77;,d7 & ins]t+ 7b77#d77;,d74 7xvi7 ,section #cje7;h7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;h771 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subsection 7e77#h7 or 7f7 9 p>agraph 7#a7 !re( & ins]t+ subsection 7f77#h7 or 7g71 7,,ii7 by /rik+ subsection 7e77#i7 9 p>agraph 7#a7 !re( & ins]t+ subsection 7f77#i71 7,,iii7 by /rik+ subsection 7e77#g7 9 p>agraph 7#b7 !re( & ins]t+ subsection 7f77#g71 & 7,,iv7 by /rik+ rehabilitation plan & all t foll[s 9 p>agraph 7#c77;,b7 !re( & ins]t+ rehabilitation plan4 ,! prec$+ s5t5ce %all n apply to any increase 9 contribution requirem5ts due to increas$ levels ( "w1 employm5t1 or p]iods = :i* comp5sation is provid$1 except to ! ext5t su* an increase is us$ to provide an increas$ accrual rate ( b5efits or *ange 9 ! rate at :i* b5efits become non=feitable :i* increases plan liabilities44 7xvii7 ,section #cje7;i7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;i771 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subsection 7c7 & ins]t+ subsection 7d71 & 7,,ii7 by /rik+ subsection 7e7 & ins]t+ subsection 7f74 7xviii7 ,section #cje7;j77#b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;j77#b771 z s r$esignat$1 is am5d$ by /rik+ subsections 7c7 & 7e7 & ins]t+ subsections 7d7 & 7f74 7xix7 ,section #aja7;f77#b77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajba7;f77#b77;,b77 is am5d$-- 7,i7 by /rik+ #cje7;i7 9 clause 7i77,,ii7 & ins]t+ #cje7k71 & 7,,ii7 by /rik+ #cje7;i77#h7 9 clause 7ii77,,ii7 & ins]t+ #cje7k77#h74 7xx7 ,section #ajc7;f77#a77;,b77ii7 ( su* ,act 7#bi ,u4,s4,c4 #ajbc7;f77#a77;,b77ii77 is am5d$ by /rik+ #cje7;i77#b7 & ins]t+ #cje7k77#b74 7xxi7 ,section #cjb7;b77#c7 ( su* ,act 7#bi ,u4,s4,c4 #ajhb7 is am5d$ by /rik+ section #cje7;e7 & ins]t+ section #cje7;f74 7xxii7 ,section #dbca7;e77#b77;,a7 ( su* ,act 7#bi ,u4,s4,c4 #adaa7;e77#b77;,a77 is am5d$ by /rik+ section #cje7;b77#d7 & ins]t+ #cje7;b77#g74 7xxiii7 ,section #dbcc ( su* ,act 7#bi ,u4,s4,c4 #adac7 is am5d$-- 7,i7 by /rik+ #cje7;e77#i7 ea* place x appe>s 9 subsections 7b77#b7 & 7e77#a77;,a7 & ins]t+ #cje7;f77#i71 & 7,,ii7 by /rik+ #cje7;e77#i77;,e77vi7 9 subsection 7e77#b7 & ins]t+ #cje7;f77#i77;,e77vi74 7xxiv7 ,section #dbde ( su* ,act 7#bi ,u4,s4,c4 #adbf71 z am5d$ by ?is ,act1 is am5d$-- 7,i7 by /rik+ #cje7;b77#b711 9 subsection 7c77#a71 z r$esignat$ by section #aab1 & ins]t+ #cje7;b77#c711 7,,ii7 by /rik+ #cje7;b77#b7 ea* place x appe>s 9 subsections 7c77#b71 7d77#a71 & 7d77#b71 z s r$esignat$1 & ins]t+ #cje7;b77#c71 & 7,,iii7 by /rik+ #cje7;e77#i7 9 subsection 7f71 z s r$esignat$1 & ins]t+ #cje7;f77#i74 7xxv7 ,! head+ ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe7 is am5d$ by /rik+ 9 endang]$ /atus or critical /atus4 7#f7 ,)drawal liability det]m9ation = plans em]g+ f endang]$ or critical /atus ,section #cje7;h7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;h771 z r$esignat$ by p>agraph 7#b7 & z am5d$ by p>agraph 7#e71 is fur!r am5d$ by /rik+ p>agraph 7#d7 & by ins]t+ aft] p>agraph 7#c7 ! foll[+ new p>agraph3 7#d7 ,em]g5ce f endang]$ or critical /atus 7,a7 ,9 g5]al ,9 ! case ( increases 9 ! contribution rate 7or o!r increases 9 contribution requirem5ts unless due to increas$ levels ( "w1 employm5t1 or p]iods = :i* comp5sation is provid$7 disreg>d$ pursuant to p>agraph 7#c71 ?is subsection %all cease to apply z ( ! lat] (-- 7i7 ! end ( ! fir/ plan ye> foll[+ ! plan ye> 9 :i* ! plan is no long] 9 endang]$ or critical /atus1 or 7ii7 ! end ( ! plan ye> :i* includes ! expiration date ( ! fir/ collective b>ga9+ agreem5t requir+ plan contributions :i* expires aft] ! plan is no long] 9 endang]$ or critical /atus4 7,b7 ,highe/ contribution rate ,not)/&+ subp>agraph 7,a71 once ! plan em]ges f endang]$ or critical /atus-- 7i7 increases 9 ! contribution rate disreg>d$ pursuant to p>agraph 7#c7 %all cont9ue to be disreg>d$ 9 det]m9+ ! highe/ contribution rate "u section #dbai7;c7 = plan ye>s dur+ :i* ! plan 0 9 endang]$ or critical /atus1 & 7ii7 ! highe/ contribution rate = purposes ( su* section %all be ! great] (-- 7,i7 ! sum (-- 7aa7 ! employ]'s contribution rate z ( ! lat] ( ! la/ day ( ! la/ plan ye> end+ be=e ,decemb] #ca1 #bjad1 & ! la/ day ( ! plan ye> = :i* ! employ] fir/ _h an obligation to contribute to ! plan1 & 7bb7 any contribution increases det]m9$ 9 accordance ) ?is section aft] su* lat] date & be=e ! date ! employ] )draws f ! plan1 or 7,,ii7 ! highe/ contribution rate = any plan ye> aft] ! plan ye> :i* includes ! e>li] (-- 7aa7 ! expiration date ( ! fir/ collective b>ga9+ agreem5t applicable to ! )draw+ employ] requir+ plan contributions :i* expires aft] ! plan is no long] 9 endang]$ or critical /atus1 or 7bb7 ! date z ( :i* ! )draw+ employ] negotiat$ a contribution rate effective aft] ! plan ye> 9 :i* ! plan is no long] 9 endang]$ or critical /atus4 4 7#g7 ,effective date ,! am5dm5ts made by ?is subsection %all take effect on ! date ( ! enactm5t ( ?is ,act4 7b7 ,det]m9ation ( endang]$ /atus ,p>agraph 7#b7 ( section #cje7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;b771 z r$esignat$ by subsection 7a77#c71 is am5d$ to read z foll[s3 7#b7 ,endang]$ /atus ,a multiemploy] plan is 9 endang]$ /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#e71 ! plan is n 9 critical or decl9+ /atus = ! plan ye> & is n describ$ 9 p>agraph 7#g71 &1 z ( ! beg9n+ ( ! plan ye>-- 7,a7 ! plan's fund$ p]c5tage = su* plan ye> is less ?an #hj p]c5t1 7,b7 ! plan is project$ to h an accumulat$ fund+ defici5cy = any ( ! #i succe$+ plan ye>s1 tak+ into acc\nt any ext5sion ( amortization p]iods "u section #cjd7;d71 or 7,c7 ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is less ?an #ajj p]c5t4 4 7c7 ,det]m9ation ( critical /atus ,p>agraph 7#c7 ( section #cje7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;b771 z r$esignat$ by subsection 7a77#c71 is am5d$ to read z foll[s3 7#c7 ,critical /atus 7,a7 ,9 g5]al ,a multiemploy] plan is 9 critical /atus = a plan ye> if1 z det]m9$ by ! plan actu>y "u p>agraph 7#e71 ! plan is n 9 decl9+ /atus = ! plan ye> &1 z ( ! beg9n+ ( ! plan ye>-- 7i7 ! plan's fund$ p]c5tage is less ?an #fe p]c5t1 7ii7 ! plan has an accumulat$ fund+ defici5cy = ! plan ye>1 or is project$ to h su* an accumulat$ fund+ defici5cy = any ( ! #f succe$+ plan ye>s1 tak+ into acc\nt any ext5sion ( amortization p]iods "u section #cjd7;d71 or 7iii7 ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is less ?an #hj p]c5t4 7,b7 ,orig9al plans ,not)/&+ subp>agraph 7,a71 a multiemploy] plan :i* is an orig9al plan pursuant to section #dbcc;,a7d77#c7 %all be treat$ z be+ 9 critical /atus = ! p]iod ( #ae consecutive plan ye>s beg9n+ ) ! plan ye> t includes ! date ( ! p>tition "u section #dbcc;,a4 4 7d7 ,decl9+ /atus 7#a7 ,9 g5]al 7,a7 ,! foll[+ provisions ( section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7 are ea* am5d$ by /rik+ critical & decl9+ ea* place x appe>s & ins]t+ decl9+3 7i7 ,subsection 7a77#d7 7z r$esignat$ by subsection 7a77#a774 7ii7 ,subp>agraphs 7,a7 & 7,b77i7 ( subsection 7b77#a71 z add$ by subsection 7a77#c74 7iii7 ,subsection 7b77#d77;,b77v7 7z r$esignat$ by subsection 7a77#c774 7iv7 ,! head+ ( clause 7v7 ( subsection 7b77#d77;,b71 z r$esignat$ by subsection 7a77#c74 7v7 ,p>agraph 7#a77;,b71 & ! head+ ( su* p>agraph 7#a77;,b71 ( subsection 7c71 z add$ by subsection 7a77#b74 7vi7 ,! head+ ( p>agraph 7#i7 ( subsection 7f7 7z r$esignat$ by subsection 7a77#b774 7vii7 ,subp>agraphs 7,a71 7,c71 7,g77i71 & 7,j7 ( subsection 7f77#i7 7z s r$esignat$74 7viii7 ,subsection 7h77#a7 7z s r$esignat$74 7,b7 ,subsections 7c71 z am5d$ by section #bba1 & 7e77#b77;,a71 z am5d$ by ?is section1 ( section #dbca ( su* ,act 7#bi ,u4,s4,c4 #adaa7;e77#b77;,a77 are ea* fur!r am5d$ by /rik+ critical & decl9+ /atus & ins]t+ decl9+ /atus4 7,c7 ,section #dbcc7;b77#a7 ( su* ,act 7#bi ,u4,s4,c4 #adac7;b77#a77 is am5d$ by /rik+ critical & decl9+ /atus & ins]t+ decl9+ /atus4 7,d7 ,section #dbde7;f7 ( su* ,act 7#bi ,u4,s4,c4 #adbf71 z am5d$ by section #aab & subsection 7a71 is fur!r am5d$ by /rik+ critical & decl9+ /atus & ins]t+ decl9+ /atus4 7#b7 ,det]m9ation ( decl9+ /atus 7,a7 ,9 g5]al ,subsection 7b7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe7 is am5d$-- 7i7 by /rik+ p>agraph 7#g71 z r$esignat$ by subsection 7a77#c71 7ii7 by r$esignat+ p>agraphs 7#d71 7#e71 & 7#f71 z s r$esignat$1 z p>agraphs 7#e71 7#f71 & 7#g71 respectively1 & 7iii7 by ins]t+ aft] p>agraph 7#c71 z s r$esignat$1 ! foll[+ new p>agraph3 7#d7 ,decl9+ /atus ,a multiemploy] plan is 9 decl9+ /atus = a plan ye> if-- 7,a7 z det]m9$ by ! plan actu>y "u p>agraph 7#e71 z ( ! beg9n+ ( ! plan ye> ! plan is project$ to become insolv5t )9 ! plan ye> or any ( ! #bi succe$+ plan ye>s1 7,b7 ! plan is o!rwise 9 critical /atus = ! plan ye> z det]m9$ by ! plan actu>y "u p>agraph 7#e71 & ! plan sponsor det]m9es t1 bas$ on reasonable actu>ial assumptions & ^u exhau/ion ( all reasonable measures1 ! plan _c reasonably be expect$ to em]ge f critical /atus )9 ! next #cj plan ye>s1 or 7,c7 ! plan has a fund$ p]c5tage = ! plan ye> :i* is great] ?an ! project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye>1 unless ! fund$ p]c5tage = ! plan ye> is #ajj p]c5t or great] & ! project$ fund$ p]c5tage z ( ! fir/ day ( su* #ae? succe$+ plan ye> is less ?an #ajj p]c5t4 4 7,b7 ,con=m+ am5dm5ts 7i7 ,p>agraph 7#a7 ( section #cje7;b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z add$ by subsection 7a77#c71 is am5d$-- 7,i7 by /rik+ p>agraph 7#d7 ea* place x appe>s 9 subp>agraphs 7,a7 & 7,b7 & ins]t+ p>agraph 7#e71 & 7,,ii7 by /rik+ p>agraph 7#f7 ea* place x appe>s 9 subp>agraphs 7,a7 & 7,b7 & ins]t+ p>agraph 7#g74 7ii7 ,subsection 7c7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z add$ by subsection 7a77#b71 is am5d$ by /rik+ 7b77#d7 ea* place x appe>s 9 p>agraphs 7#a77;,a77i71 7#a77;,a77ii71 7#a77;,a77iii71 7#b77;,a71 & 7#b77;,b7 & ins]t+ 7b77#e74 7iii7 ,section #cje7;b77#e7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#e771 z fur!r r$esignat$ by subp>agraph 7,a7 & z am5d$ by section #cba & subsection 7a71 is fur!r am5d$-- 7,i7 by /rik+ p>agraph 7#e7 9 subp>agraph 7,b77iv7 !re( & ins]t+ p>agraph 7#f71 7,,ii7 by /rik+ p>agraph 7#e7 ea* place x appe>s 9 subp>agraphs 7,d77i7 & 7,d77vi7 !re( & ins]t+ p>agraph 7#f71 & 7,,iii7 by /rik+ p>agraph 7#f7 9 subp>agraph 7,d77iv7 !re( & ins]t+ p>agraph 7#g74 7iv7 ,section #cje7;b77#f7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#f771 z s fur!r r$esignat$ & am5d$1 is fur!r am5d$-- 7,i7 by /rik+ p>agraph 7#d77;,b77iv7 & ins]t+ p>agraph 7#e77;,b77iv71 7,,ii7 by /rik+ p>agraph 7#d7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#e71 & 7,,iii7 by /rik+ p>agraph 7#d77;,a7 9 subp>agraph 7,a7 !re( & ins]t+ p>agraph 7#e77;,a74 7v7 ,section #cje7;b77#g77;,a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#g77;,a771 z s fur!r r$esignat$ & am5d$1 is fur!r am5d$-- 7,i7 by /rik+ p>agraph 7#d77;,a7 & ins]t+ p>agraph 7#e77;,a71 & 7,,ii7 by /rik+ ei!r p>agraph 7#b77;,a7 or p>agraph 7#b77;,b7 & ins]t+ any subp>agraph ( p>agraph 7#b74 7vi7 ,section #cje7;b77#g77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#g77;,b771 z s fur!r r$esignat$1 is am5d$ by /rik+ critical or endang]$ & ins]t+ endang]$1 critical1 or decl9+4 7vii7 ,p>agraphs 7#a77;,a71 7#d77;,a77ii71 7#d77;,c77i71 7#d77;,c77ii71 7#d77;,d71 & 7#h7 ( subsection 7d71 & subsections 7f77#a77;,a71 7f77#d77;,b77i71 7f77#d77;,b77ii77,i71 7f77#e71 & 7g77#c7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z r$esignat$ & am5d$ by subsection 7a71 are ea* fur!r am5d$ by /rik+ subsection 7b77#d77;,a7 & ins]t+ subsection 7b77#e77;,a74 7viii7 ,section #cje7;d77#c77;,a77i77,i7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d77#c77;,a77i77,i771 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ subsection 7b77#d7 & ins]t+ subsection 7b77#e74 7ix7 ,subsections 7f77#h77;,a77ii7 & 7g77#b77;,a7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$ & am5d$1 are ea* fur!r am5d$ by /rik+ subsection 7b77#d77;,d7 & ins]t+ subsection 7b77#e77;,d74 7x7 ,section #cje7;f77#i77;,j7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,j771 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ subsection 7b77#d7 & ins]t+ subsection 7b77#e74 7xi7 ,section #dbca7;e77#b77;,a7 ( su* ,act 7#bi ,u4,s4,c4 #adaa7;e77#b77;,a771 z am5d$ by ?is section1 is fur!r am5d$ by /rik+ #cje7;b77#g7 & ins]t+ #cje7;b77#d74 7#c7 ,solv5cy plan 7,a7 ,9 g5]al ,p>agraph 7#d7 7z r$esignat$ by subsection 7a77#a7 & am5d$ by p>agraph 7#a77 ( section #cje7;a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;a77 is am5d$-- 7i7 by r$esignat+ subp>agraph 7,b7 z subp>agraph 7,d71 & 7ii7 by /rik+ subp>agraph 7,a7 & ins]t+ be=e subp>agraph 7,d7 7z s r$esignat$7 ! foll[+ new subp>agraphs3 7,a7 ! plan sponsor %all adopt & implem5t a solv5cy plan 9 accordance ) ! requirem5ts ( subsection 7h71 7,b7 any rehabilitation plan 9 place z ( ! date ! plan ent]s decl9+ /atus %all cont9ue to apply ?r\gh\t ! solv5cy plan adoption p]iod1 7,c7 ! requirem5ts ( subsection 7i7 & p>agraphs 7#f7 & 7#g7 ( subsection 7f7 %all apply dur+ ! solv5cy plan adoption p]iod & ! solv5cy atta9m5t p]iod1 & 4 7,b7 ,adoption ( plan ,section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z am5d$ by ?is section1 is fur!r am5d$-- 7i7 by r$esignat+ subsection 7l71 z add$ by title ,v ( ?is ,act1 z subsection 7n71 & by fur!r r$esignat+ subsections 7h71 7i71 7j71 & 7k71 z r$esignat$ by subsection 7a77#b71 z subsections 7j71 7k71 7l71 & 7m71 respectively1 & 7ii7 by ins]t+ aft] subsection 7g71 z r$esignat$ by subsection 7a77#b71 ! foll[+ new subsections3 7h7 ,solv5cy plan mu/ be adopt$ = multiemploy] plans 9 decl9+ /atus 7#a7 ,9 g5]al ,9 any case 9 :i* a multiemploy] plan is 9 decl9+ /atus = a plan ye>1 ! plan sponsor1 9 accordance ) ?is subsection-- 7,a7 %all adopt a solv5cy plan n lat] ?an #bdj days foll[+ ! requir$ date = ! actu>ial c]tification ( decl9+ /atus "u subsection 7b77#e77;,a71 & 7,b7 )9 #cj days aft] ! adoption ( ! solv5cy plan %all provide to ! b>ga9+ p>ties #a or m s*$ules %[+ revis$ b5efit /ructures1 revis$ contribution /ructures1 or bo?1 :i*1 if adopt$1 may reasonably be expect$ to enable ! multiemploy] plan to meet ! requirem5ts ( p>agraph 7#c71 includ+-- 7i7 "o default proposal "u :i*-- 7,i7 all adju/able b5efits 9 ! =m ( e>ly retirem5t subsidies 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 "u ! plan are elim9at$1 & 7,,ii7 ! future mon?ly b5efit accrual rate "u ! plan is r$uc$ to ! equival5t ( #a p]c5t ( annual contributions 7or1 if l[]1 ! curr5t accrual rate7 bas$ on ! contribution rate 9 effect z ( ! lat] ( ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s decl9+ /atus or ! date ( a p>tition "u section #dbcc;,a1 & :i* may also include r$uction or elim9ation ( any o!r adju/able b5efits "u ! plan1 & 7ii7 any additional s*$ules :i* r$uce or elim9ate adju/able b5efits "u ! plan :i* ! plan sponsor deems appropriate to provide z an alt]native to ! default proposal4 ,no s*$ule provid$ to or adopt$ by ! b>ga9+ p>ties %all provide = a mon?ly b5efit accrual rate 9 excess ( ! rate describ$ 9 subp>agraph 7,b77i77,,ii74 7#b7 ,exception = ye>s aft] process beg9s ,p>agraph 7#a7 %all n apply to a plan ye> if su* ye> is 9 a solv5cy plan adoption p]iod or solv5cy atta9m5t p]iod by reason ( ! plan be+ 9 decl9+ /atus = a prec$+ plan ye>1 except t ! next update ( ! solv5cy plan %all fulfill ! requirem5t ( p>agraph 7#a77;,b77i74 ,= purposes ( ?is section1 su* prec$+ plan ye> %all be ! initial det]m9ation ye> ) respect to ! solv5cy plan to :i* x relates4 7#c7 ,solv5cy plan ,= purposes ( ?is section1 a solv5cy plan is a plan :i* consi/s ( ! actions1 includ+ options or a range ( options to be propos$ to ! b>ga9+ p>ties1 =mulat$1 bas$ on reasonably anticipat$ exp]i5ce & reasonable actu>ial assumptions1 to enable ! plan to delay or avoid ! project$ insolv5cy4 7#d7 ,solv5cy atta9m5t p]iod ,= purposes ( ?is section-- 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 ! solv5cy atta9m5t p]iod = any solv5cy plan adopt$ pursuant to ?is subsection is ! p]iod-- 7i7 beg9n+ on ! fir/ day ( ! fir/ plan ye> ( ! multiemploy] plan beg9n+ aft] ! e>li] (-- 7,i7 ! second anniv]s>y ( ! date ( ! adoption ( ! solv5cy plan1 or 7,,ii7 ! expiration ( ! collective b>ga9+ agreem5ts 9 effect on ! due date = ! actu>ial c]tification ( decl9+ /atus = ! initial det]m9ation ye> "u subsection 7b77#e77;,a7 & cov]+1 z ( su* due date1 at lea/ #ge p]c5t ( ! active p>ticipants 9 su* plan1 & 7ii7 end+ on ! date ! plan ei!r em]ges f decl9+ /atus or becomes insolv5t4 7,b7 ,coord9ation ) *anges 9 /atus 7i7 ,plans no long] 9 decl9+ /atus ,if ! plan's actu>y c]tifies 9 accordance ) subp>agraph 7,c7 = a plan ye> 9 any solv5cy plan adoption p]iod or solv5cy atta9m5t p]iod t ! plan is no long] 9 decl9+ /atus1 ! solv5cy plan adoption p]iod or solv5cy atta9m5t p]iod1 :i*ev] is applicable1 %all end z ( ! date ( su* c]tification4 7ii7 ,plans 9 critical or endang]$ /atus ,if ! plan's actu>y c]tifies "u subsection 7b77#e77;,a7 = ! plan ye> describ$ 9 clause 7i7 t ! plan is 9 critical or endang]$ r ?an decl9+ /atus1 ! provisions ( subsections 7d7 & 7e71 or subsections 7f7 & 7g71 :i*ev] are applicable1 %all be appli$ z if su* plan ye> 7 an initial det]m9ation ye>1 except t ! plan may n be am5d$ 9 a mann] inconsi/5t ) ! solv5cy plan 9 effect = ! prec$+ plan ye> until a new fund+ improvem5t plan or rehabilitation plan1 :i*ev] is applicable1 is adopt$4 7,c7 ,em]g5ce ,a plan 9 decl9+ /atus %all rema9 9 su* /atus until a plan ye> = :i* ! plan actu>y c]tifies1 9 accordance ) subsection 7b77#e77;,a71 t ! plan is n describ$ 9 "o or m ( ! subp>agraphs 9 subsection 7b77#d7 z ( ! beg9n+ ( ! plan ye>4 7#e7 ,updates to solv5cy plans & s*$ules 7,a7 ,solv5cy plan ,! plan sponsor %all annually update ! solv5cy plan & %all file ! update ) ! plan's annual report "u section #ajd4 7,b7 ,s*$ules ,! plan sponsor %all annually update any s*$ule ( contribution rates provid$ "u ?is subsection to reflect ! exp]i5ce ( ! plan4 7,c7 ,duration ( s*$ule ,a s*$ule ( contribution rates provid$ by ! plan sponsor & reli$ ^u by b>ga9+ p>ties 9 negotiat+ a collective b>ga9+ agreem5t %all rema9 9 effect = ! duration ( t collective b>ga9+ agreem5t4 7#f7 ,imposition ( s*$ule :]e failure to adopt solv5cy plan 7,a7 ,initial contribution s*$ule ,if-- 7i7 a collective b>ga9+ agreem5t provid+ = contributions "u a multiemploy] plan t 0 9 effect at ! "t ! plan ent]$ decl9+ /atus expires1 & 7ii7 aft] receiv+ "o or m s*$ules f ! plan sponsor "u p>agraph 7#a77;,b71 ! b>ga9+ p>ties ) respect to su* agreem5t fail to adopt a contribution s*$ule ) t]ms consi/5t ) ! solv5cy plan & a s*$ule f ! plan sponsor1 ! plan sponsor %all implem5t ! s*$ule describ$ 9 p>agraph 7#a77;,b77i7 beg9n+ on ! date specifi$ 9 subp>agraph 7,c74 7,b7 ,subsequ5t contribution s*$ule ,if-- 7i7 a collective b>ga9+ agreem5t provid+ = contributions "u a multiemploy] plan 9 accordance ) a s*$ule provid$ by ! plan sponsor pursuant to a solv5cy plan 7or impos$ "u subp>agraph 7,a77 expires :ile ! plan is /ill 9 decl9+ /atus1 & 7ii7 aft] receiv+ "o or m updat$ s*$ules f ! plan sponsor "u p>agraph 7#e77;,b71 ! b>ga9+ p>ties ) respect to su* agreem5t fail to adopt a contribution s*$ule ) t]ms consi/5t ) ! updat$ solv5cy plan & a s*$ule f ! plan sponsor1 !n ! contribution s*$ule applicable "u ! expir$ collective b>ga9+ agreem5t1 z updat$ & 9 effect on ! date ! collective b>ga9+ agreem5t expires1 %all be implem5t$ by ! plan sponsor beg9n+ on ! date specifi$ 9 subp>agraph 7,c74 7,c7 ,date ( implem5tation ,! date specifi$ 9 ?is subp>agraph is ! date :i* is #ahj days aft] ! date on :i* ! collective b>ga9+ agreem5t describ$ 9 subp>agraph 7,a7 or 7,b7 expires4 7#g7 ,solv5cy plan adoption p]iod ,= purposes ( ?is section1 ! t]m solv5cy plan adoption p]iod means ! p]iod beg9n+ on ! date ( ! c]tification "u subsection 7b77#e77;,a7 = ! initial det]m9ation ye> & end+ on ! day be=e ! fir/ day ( ! solv5cy atta9m5t p]iod4 7i7 ,rules = op]ation ( plan dur+ adoption & atta9m5t p]iods 7#a7 ,compliance ) solv5cy plan 7,a7 ,9 g5]al ,a plan may n be am5d$ aft] ! date ( ! adoption ( a solv5cy plan "u subsection 7h7 s z to be inconsi/5t ) ! solv5cy plan4 7,b7 ,special rules = b5efit increases ,a plan may n be am5d$ aft] ! date ( ! adoption ( a solv5cy plan "u subsection 7h7 s z to increase b5efits1 includ+ future b5efit accruals1 unless ! increase is requir$ by law or is a de m9imis *ange4 7,c7 ,special rules = increases 9 comp5sation or contribution rate ,any increase 9 employee comp5sation or contribution rates :i* takes effect aft] ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s decl9+ /atus %all n give rise to an increase 9 b5efits or future b5efit accruals "u ! plan4 7#b7 ,re/riction on lump sums & simil> b5efits 7,a7 ,9 g5]al ,effective on ! date ! notice ( c]tification ( ! plan's decl9+ /atus = ! initial det]m9ation ye> "u subsection 7b77#e77;,d7 is s5t1 & not)/&+ section #bjd7;g71 ! plan %all n pay-- 7i7 any paym5t1 9 excess ( ! mon?ly am\nt paid "u a s+le life annuity 7plus any social security supplem5ts describ$ 9 ! la/ s5t5ce ( section #bjd7;b77#a77;,g771 to a p>ticipant or b5efici>y ^: annuity />t+ date 7z def9$ 9 section #bje7;h77#b77 occurs aft] ! date su* notice is s5t1 7ii7 any paym5t = ! pur*ase ( an irrevocable commitm5t f an insur] to pay b5efits1 or 7iii7 any o!r paym5t specifi$ by ! ,secret>y ( ! ,treasury by regulations1 unless x is a de m9imis am\nt4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply to a b5efit :i* "u section #bjc7;e7 may be imm$iately di/ribut$ )\t ! cons5t ( ! p>ticipant or to any makeup paym5t 9 ! case ( a retroactive annuity />t+ date or any simil> paym5t ( b5efits ow$ ) respect to a prior p]iod4 7#c7 ,special rules = plan adoption p]iod ,dur+ ! p]iod beg9n+ on ! date ( ! c]tification "u subsection 7b77#e77;,a7 = ! initial det]m9ation ye> & end+ on ! date ( ! adoption ( a solv5cy plan-- 7,a7 ! plan sponsor may n accept a collective b>ga9+ agreem5t or p>ticipation agreem5t ) respect to ! multiemploy] plan t provides =-- 7i7 a r$uction 9 ! level ( contributions = any p>ticipants1 7ii7 a susp5sion ( contributions ) respect to any p]iod ( s]vice1 or 7iii7 any new direct or indirect exclusion ( y\ng] or newly hir$ employees f plan p>ticipation1 unless ! plan sponsor reasonably det]m9es t ! acceptance ( su* an agreem5t is 9 ! be/ int]e/s ( p>ticipants & b5efici>ies & t rejection ( su* agreem5t w\ld adv]sely affect ! plan1 & 7,b7 no am5dm5t ( ! plan :i* increases ! liabilities ( ! plan by reason ( any increase 9 b5efits1 any *ange 9 ! accrual ( b5efits1 or any *ange 9 ! rate at :i* b5efits become non=feitable "u ! plan may be adopt$ unless ! am5dm5t is requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf or to comply ) o!r applicable law4 4 7,c7 ,susp5sion ( b5efits ,section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z am5d$ by ?is section1 is fur!r am5d$-- 7i7 by r$esignat+ p>agraph 7#i7 ( subsection 7f7 7z r$esignat$ by subsection 7a77#b77 z p>agraph 7#h7 ( subsection 7h7 7z add$ by subp>agraph 7,b771 & 7ii7 by mov+ su* p>agraph to ! position imm$iately aft] p>agraph 7#g7 ( su* subsection 7h74 7#d7 ,con=m+ am5dm5ts 7,a7 ,subsection 7a77#d77;,d7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z r$esignat$ & am5d$ by ! prec$+ provisions ( ?is section1 is fur!r am5d$ by /rik+ subsection 7f77#i7 & ins]t+ subsection 7h77#h74 7,b7 ,p>agraph 7#e7 ( section #cje7;b7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b771 z s r$esignat$ & z am5d$ by section #cba & ! prec$+ provisions ( ?is section1 is fur!r am5d$-- 7i7 by /rik+ critical 9 subp>agraph 7,a77i77,i7 & ins]t+ critical or decl9+1 7ii7 by /rik+ fund+ improvem5t or rehabilitation p]iod 9 subp>agraph 7,a77i77,,ii7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy atta9m5t p]iod1 7iii7 by /rik+ fund+ improvem5t or rehabilitation plan 9 subp>agraph 7,a77i77,,ii7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 7iv7 by /rik+ endang]$ or critical 9 subp>agraph 7,a77i77,v77bb7 & ins]t+ endang]$1 critical1 or decl9+1 7v7 by /rik+ fund+ improvem5t plan or rehabilitation 9 subp>agraph 7,a77iv7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy1 7vi7 by /rik+ critical ea* place x appe>s 9 subp>agraph 7,a77vi7 & ins]t+ critical or decl9+1 7vii7 by /rik+ rehabilitation p]iod 9 subp>agraph 7,a77vi7 & ins]t+ rehabilitation or solv5cy atta9m5t p]iod1 7viii7 by /rik+ z describ$ 9 subsection 7f77#i7 9 subp>agraph 7,b77v71 7ix7 by ins]t+ if ! plan is already 9 a rehabilitation p]iod1 & be=e if reasonable 9 subp>agraph 7,b77v77,i71 7x7 by /rik+ subsection 7f77#i7 9 subp>agraph 7,b77v77,,ii7 & ins]t+ subsection 7h77#h71 7xi7 by /rik+ endang]$ or critical bo? places x appe>s 9 subp>agraph 7,d77i7 & ins]t+ endang]$1 critical1 or decl9+1 7xii7 by /rik+ endang]$ or critical 9 ! head+ ( subp>agraph 7,d77ii7 & ins]t+ endang]$1 critical1 or decl9+1 7xiii7 by /rik+ endang]$ or critical 9 subp>agraph 7,d77ii7 & ins]t+ endang]$1 critical1 or decl9+1 7xiv7 by /rik+ fund+ improvem5t or rehabilitation plan bo? places x appe>s 9 subclauses 7,i7 & 7,,ii7 ( subp>agraph 7,d77ii7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 & 7xv7 by add+ at ! end ( subp>agraph 7,d7 ! foll[+ new clause3 7vii7 ,notice ( projection to be 9 decl9+ /atus 9 a future plan ye> ,9 any case 9 :i* x is c]tifi$ "u subp>agraph 7,a77i7 t a multiemploy] plan w be 9 decl9+ /atus = any ( #e succe$+ plan ye>s 7b n = ! curr5t plan ye>71 ! plan sponsor %all1 n lat] ?an #cj days aft] ! date ( ! c]tification1 provide notification ( ! project$ decl9+ /atus to ! ,p5sion ,b5efit ,gu>anty ,corporation4 4 7,c7 ,subp>agraph 7,j7 ( section #cje7;h77#h7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;h77#h771 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ critical 9 ! head+ & ins]t+ decl9+1 & 7ii7 by /rik+ %all n em]ge f critical /atus "u p>agraph 7#d77;,b71 & ins]t+ %all n em]ge f decl9+ /atus4 7,d7 ,subsection 7j7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ 7f77#h7 or 7g7 9 p>agraph 7#a7 & ins]t+ 7f77#h71 7g71 or 7i71 7ii7 by /rik+ subsection 7f77#i7 9 p>agraph 7#a7 & ins]t+ subsection 7h77#h71 7iii7 by /rik+ fund+ improvem5t or rehabilitation plan 9 ! head+ ( p>agraph 7#c7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy1 7iv7 by /rik+ fund+ improvem5t plan or rehabilitation plan bo? places x appe>s 9 subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#c7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan1 7v7 by /rik+ endang]$ or critical 9 ! head+ ( p>agraph 7#d71 z am5d$ by subsection 7a71 & ins]t+ endang]$1 critical1 or decl9+1 7vi7 by /rik+ endang]$ or critical ea* place x appe>s 9 p>agraph 7#d71 z s am5d$1 & ins]t+ endang]$1 critical1 or decl9+1 & 7vii7 by /rik+ critical or endang]$ 9 p>agraph 7#d7 & ins]t+ endang]$1 critical1 or decl9+4 7,e7 ,subsection 7k7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ or a rehabilitation plan "u subsection 7f7 & ins]t+ 1 a rehabilitation plan "u subsection 7f71 or a solv5cy plan "u subsection 7h71 7ii7 by /rik+ endang]$ /atus or a plan 9 critical /atus & ins]t+ endang]$1 critical1 or decl9+ /atus1 7iii7 by /rik+ has n agre$ on a fund+ improvem5t plan or rehabilitation plan & ins]t+ has n agre$ on a fund+ improvem5t1 rehabilitation1 or solv5cy plan 7:i*ev] is applicable71 & 7iv7 by /rik+ adoption ( a fund+ improvem5t plan or rehabilitation plan & ins]t+ adoption ( a fund+ improvem5t1 rehabilitation1 or solv5cy plan4 7,f7 ,subsection 7l7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ endang]$ /atus or 9 critical /atus 9 p>agraph 7#a7 & ins]t+ endang]$1 critical1 or decl9+ /atus1 7ii7 by /rik+ endang]$ or critical 9 p>agraph 7#a7 & ins]t+ endang]$1 critical1 or decl9+1 & 7iii7 by /rik+ 7d7 & 7f7 9 p>agraph 7#b7 & ins]t+ 7d71 7f71 & 7h74 7,g7 ,section #aja7;f77#b77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajba7;f77#b77;,b771 z am5d$ by ?is section1 is am5d$-- 7i7 by /rik+ #cje7k7 9 clause 7i77,,ii7 & ins]t+ #cje7m71 & 7ii7 by /rik+ #cje7k77#h7 9 clause 7ii77,,ii7 & ins]t+ #cje7m77#h74 7,h7 ,section #aja7k77#a77,k7 ( su* ,act 7#bi ,u4,s4,c4 #ajba7k77#a77,k77 is am5d$-- 7i7 by /rik+ critical or endang]$ & ins]t+ endang]$1 critical1 or decl9+1 & 7ii7 by /rik+ fund+ improvem5t or rehabilitation bo? places x appe>s & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,i7 ,section #ajc7;f77#a77;,b77ii7 ( su* ,act 7#bi ,u4,s4,c4 #ajbc7;f77#a77;,b77ii771 z am5d$ by ?is section1 is am5d$ by /rik+ #cje7k77#b7 & ins]t+ #cje7m77#b74 7,j7 ,section #ajc7;f77#b77;,g7 ( su* ,act 7#bi ,u4,s4,c4 #ajbc7;f77#b77;,g77 is am5d$-- 7i7 by /rik+ critical or endang]$ & ins]t+ endang]$1 critical1 or decl9+1 & 7ii7 by /rik+ fund+ improvem5t or rehabilitation & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,k7 ,section #ajd7;d77#a77;,e7 ( su* ,act 7#bi ,u4,s4,c4 #ajbd7;d77#a77;,e77 is am5d$-- 7i7 by /rik+ critical or endang]$ & ins]t+ endang]$1 critical1 or decl9+1 & 7ii7 by /rik+ fund+ improvem5t or rehabilitation & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,l7 ,section #ejb7;a77#aj7 ( su* ,act 7#bi ,u4,s4,c4 #aacb7;a77#aj77 is am5d$-- 7i7 by /rik+ endang]$ or critical & ins]t+ endang]$1 critical1 or decl9+1 & 7ii7 by /rik+ fund+ improvem5t or rehabilitation ea* place x appe>s & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,m7 ,section #ejb7;c77#h7 ( su* ,act 7#bi ,u4,s4,c4 #aacb7;c77#h77 is am5d$-- 7i7 by /rik+ fund+ improvem5t plan or rehabilitation 9 subp>agraph 7,a7 & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy1 7ii7 by /rik+ endang]$ or critical 9 subp>agraph 7,a7 & ins]t+ endang]$1 critical1 or decl9+1 7iii7 by /rik+ :i* is n 9 s]i\sly endang]$ /atus 9 subp>agraph 7,b71 & 7iv7 by /rik+ meet ! applicable b5*m>ks 9 subp>agraph 7,b7 & ins]t+ em]ge f endang]$ /atus4 7,n7 ,section #dbcc ( su* ,act 7#bi ,u4,s4,c4 #adac71 z am5d$ by ?is section1 is fur!r am5d$-- 7i7 by /rik+ #cje7;f77#i7 ea* place x appe>s 9 subsections 7b77#b7 & 7e77#a77;,a7 & ins]t+ #cje7;h77#h71 & 7ii7 by /rik+ #cje7;f77#i77;,e77vi7 9 subsection 7e77#b7 & ins]t+ #cje7;h77#h77;,e77vi74 7,o7 ,section #dbcc7m77#a7 ( su* ,act1 z add$ by ?is ,act1 is am5d$ by /rik+ fund+ improvem5t or rehabilitation & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,p7 ,section #dbcc;,a7h77#d77;,c7 ( su* ,act1 z add$ by ?is ,act1 is am5d$ by /rik+ rehabilitation plan & ins]t+ rehabilitation or solv5cy plan4 7,q7 ,section #dbcc;,a7m77#a7 ( su* ,act1 z add$ by ?is ,act1 is am5d$ by /rik+ fund+ improvem5t or rehabilitation & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,r7 ,section #dbcc;,a7o77#a7 ( su* ,act1 z add$ by ?is ,act1 is am5d$ by /rik+ #cje7k77#b7 & ins]t+ #cje7m77#b74 7,s7 ,section #dbcc;,a7o77#ab7 ( su* ,act1 z add$ by ?is ,act1 is am5d$ by /rik+ fund+ improvem5t plan or rehabilitation & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy4 7,t7 ,section #dbde ( su* ,act 7#bi ,u4,s4,c4 #adbf71 z am5d$ by section #aab & ?is section1 is fur!r am5d$-- 7i7 by /rik+ #cje7;b77#c7 ea* place x appe>s 9 subsections 7c77#a71 7c77#b71 7d77#a71 & 7d77#b7 & ins]t+ #cje7;b77#c71 or a plan 9 decl9+ /atus1 z describ$ 9 section #cje7;b77#d71 & 7ii7 by /rik+ #cje7;f77#i7 9 subsection 7f7 & ins]t+ #cje7;h77#h74 7e7 ,adju/m5t ( b5efits 7#a7 ,9 g5]al ,section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe71 z am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by fur!r r$esignat+ subsections 7m7 & 7n71 z r$esignat$ by subsection 7d71 z subsections 7n7 & 7o71 respectively1 7,b7 by r$esignat+ p>agraph 7#h7 ( subsection 7f71 z r$esignat$ by subsection 7a77#b71 z subsection 7m71 & 7,c7 by mov+ su* subsection to ! position imm$iately aft] subsection 7l74 7#b7 ,cl]ical & con=m+ am5dm5ts 7,a7 ,! head+ ( subsection 7m7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z r$esignat$ by p>agraph 7#a71 is am5d$ to read z foll[s3 7m7 ,adju/m5t ( b5efits 4 7,b7 ,! foll[+ provisions ( su* subsection 7m7 are am5d$ z foll[s3 7i7 ,subp>agraphs 7,a71 7,b71 & 7,c7 are r$esignat$ z p>agraphs 7#a71 7#b71 & 7#d71 respectively1 & mov$ #b ems to ! left4 7ii7 ,clauses 7i71 7ii71 7iii71 & 7iv7 ( p>agraph 7#a7 7z s r$esignat$7 are r$esignat$ z subp>agraphs 7,a71 7,b71 7,c71 & 7,d71 respectively1 & mov$ #b ems to ! left4 7iii7 ,subclauses 7,i71 7,,ii71 & 7,,iii7 ( p>agraph 7#a77;,d7 7z s r$esignat$7 are r$esignat$ z clauses 7i71 7ii71 & 7iii71 respectively1 & mov$ #b ems to ! left4 7iv7 ,clauses 7i71 7ii71 & 7iii7 ( p>agraph 7#d7 7z s r$esignat$7 are r$esignat$ z subp>agraphs 7,a71 7,b71 & 7,c71 respectively1 & mov$ #b ems to ! left1 & ! flu% s5t5ce at ! end ( subp>agraph 7,c7 7z s r$esignat$7 is mov$ #b ems to ! left4 7v7 ,subclauses 7,i71 7,,ii71 & 7,,iii7 ( p>agraph 7#d77;,a7 7z s r$esignat$7 are r$esignat$ z clauses 7i71 7ii71 & 7iii71 respectively1 & mov$ #b ems to ! left4 7vi7 ,subclauses 7,i7 & 7,,ii7 ( p>agraph 7#d77;,b7 7z s r$esignat$7 are r$esignat$ z clauses 7i7 & 7ii71 respectively1 & mov$ #b ems to ! left4 7vii7 ,subclauses 7,i71 7,,ii71 & 7,,iii7 ( p>agraph 7#d77;,c7 7z s r$esignat$7 are r$esignat$ z clauses 7i71 7ii71 & 7iii71 respectively1 & mov$ #b ems to ! left4 7viii7 ,p>agraph 7#a77;,a71 z s r$esignat$1 is am5d$ by /rik+ subp>agraph 7,c7 & ins]t+ p>agraph 7#d74 7ix7 ,p>agraph 7#a77;,b71 z s r$esignat$1 is am5d$ by /rik+ clause 7iv77,,iii7 & ins]t+ subp>agraph 7,d77iii74 7x7 ,p>agraph 7#a77;,d71 z s r$esignat$1 is am5d$ by /rik+ ?is p>agraph & ins]t+ ?is subsection4 7xi7 ,p>agraph 7#b71 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subp>agraph 7,a77iv77,,iii7 & ins]t+ p>agraph 7#a77;,d77iii71 & 7,,ii7 by /rik+ ?is p>agraph & ins]t+ ?is subsection4 7xii7 ,p>agraph 7#d77;,a71 z s r$esignat$1 is am5d$ by /rik+ subp>agraph 7,a7 & ins]t+ p>agraph 7#a74 7xiii7 ,p>agraphs 7#d77;,b7 & 7#d77;,c71 z s r$esignat$1 are ea* am5d$ by /rik+ clause 7i7 ea* place x appe>s & ins]t+ subp>agraph 7,a74 7xiv7 ,! la/ s5t5ce ( p>agraph 7#d77;,c71 z s r$esignat$1 is am5d$-- 7,i7 by /rik+ subclause 7,i7 & ins]t+ clause 7i71 & 7,,ii7 by /rik+ ?is subp>agraph & ins]t+ ?is p>agraph4 7#c7 ,application to all plans 9 endang]$1 critical1 or decl9+ /atus 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #cje7m77#a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7m77#a771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7i7 by /rik+ ! plan sponsor %all & ins]t+ ! plan sponsor ( a multiemploy] plan 9 endang]$1 critical1 or decl9+ /atus may1 & 7ii7 by /rik+ p>agraph 7#a77;,b77i7 & ins]t+ subsection 7d77#a77;,b71 7f77#a77;,b71 or 7h77#a77;,b71 :i*ev] is applicable4 7,b7 ,con=m+ am5dm5ts ,subp>agraph 7,b7 ( section #cje7m77#a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7m77#a771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by /rik+ critical bo? places x appe>s & ins]t+ endang]$1 critical1 or decl9+4 7#d7 ,additional adju/able b5efits 7,a7 ,9 g5]al ,subp>agraph 7,d7 ( section #cje7m77#a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7m77#a771 z r$esignat$ by ?is section1 is am5d$-- 7i7 by ins]t+ 1 includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis1 aft] 7i77 9 clause 7ii71 z s r$esignat$1 7ii7 by /rik+ & at ! end ( clause 7ii7 7z s r$esignat$71 7iii7 by /rik+ t w\ld n be eligible & all t foll[s ?r\gh ! p]iod 9 clause 7iii7 7z s r$esignat$7 & ins]t+ :i* 7 adopt$ 7or1 if lat]1 took effect7 less ?an #abj mon?s be=e ! fir/ day ( ! fir/ plan ye> 9 :i* ! plan 0 9 endang]$1 critical1 or decl9+ /atus11 & 7iv7 by add+ at ! end ! foll[+ new clauses3 7iv7 any "o-"t bonus paym5t or ?irte5? *eck provision1 & 7v7 b5efits grant$ = p]iods ( s]vice prior to p>ticipation 9 ! plan4 4 7,b7 ,con=m+ am5dm5ts 7i7 ,subp>agraph 7,b7 ( section #cje7m77#a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by /rik+ subp>agraph 7,d77iii7 & ins]t+ clause 7iii71 7iv71 or 7v7 ( subp>agraph 7,d74 7ii7 ,p>agraph 7#b7 ( section #cje7m7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z am5d$ by p>agraph 7#b77;,b71 is fur!r am5d$ by /rik+ p>agraph 7#a77;,d77iii7 & ins]t+ clause 7iii71 7iv71 or 7v7 ( p>agraph 7#a77;,d74 7iii7 ,section #dbcc;,a7o77#a7 ( su* ,act1 z add$ by ?is ,act & z am5d$ by ?is section1 is fur!r am5d$ by /rik+ #cje7m77#b7 & ins]t+ #cje7n77#b74 7#e7 ,rules relat+ to susp5sion ( b5efits ^u return to "w ,subsection 7m7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ,rules relat+ to susp5sion ( b5efits ^u return to "w ,! plan sponsor ( a multiemploy] plan 9 endang]$1 critical1 or decl9+ /atus may am5d rules reg>d+ ! susp5sion ( a p>ticipant's b5efits ^u a return to "w aft] comm5cem5t ( b5efits1 or ! comm5cem5t ( b5efits aft] normal retirem5t age 7includ+ 9 ! case ( cont9u$ employm5t aft] normal retirem5t age74 ,any su* *anges %all apply only to future paym5ts ( b5efits4 4 7#f7 ,additional con=m+ am5dm5ts 7,a7 ,clause 7iii7 ( section #cje7;b77#e77;,d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#e77;,d771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7i7 by /rik+ critical 9 ! head+ & ins]t+ endang]$1 critical1 or decl9+1 7ii7 by /rik+ critical /atus bo? places x appe>s & ins]t+ endang]$1 critical1 or decl9+ /atus1 & 7iii7 by /rik+ subsection 7f77#h7 9 subclause 7,i7 & ins]t+ subsection 7m77#a77;,d74 7,b7 ,subsection 7j7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z am5d$ by subsection 7d71 is fur!r am5d$ by /rik+ 7f77#h71 7g71 or 7i7 & ins]t+ 7e71 7g71 7i71 or 7m74 7,c7 ,section #aja7;f77#b77;,b7 ( su* ,act 7#bi ,u4,s4,c4 #ajba7;f77#b77;,b771 z am5d$ by ?is section1 is am5d$-- 7i7 by /rik+ #cje7m7 9 clause 7i77,,ii7 & ins]t+ #cje7n71 & 7ii7 by /rik+ #cje7m77#h7 9 clause 7ii77,,ii7 & ins]t+ #cje7n77#h74 7,d7 ,section #ajc7;f77#a77;,b77ii7 ( su* ,act 7#bi ,u4,s4,c4 #ajbc7;f77#a77;,b77ii771 z am5d$ by ?is section1 is am5d$ by /rik+ #cje7m77#b7 & ins]t+ #cje7n77#b74 7f7 ,elections ,to be 9 critical or endang]$ /atus 7#a7 ,9 g5]al ,p>agraph 7#f7 ( section #cje7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;b771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by /rik+ is n 9 critical /atus 9 subp>agraph 7,a7 & ins]t+ is n 9 critical or decl9+ /atus1 7,b7 by /rik+ b t is project$ 9 subp>agraph 7,a7 & ins]t+ 8b-- 7i7 t is project$ 1 7,c7 by /rik+ #e plan ye>s may1 n lat] ?an 9 subp>agraph 7,a7 & ins]t+ 8#e plan ye>s1 or 7ii7 t is 9 endang]$ /atus & is n reasonably project$ to be able to em]ge f endang]$ /atus )9 ! fund+ improvem5t p]iod "u ! fund+ improvem5t plan 9 effect1 may1 n lat] ?an 1 & 7,d7 by /rik+ "u p>agraph 7#c7 9 subp>agraph 7,b7 & ins]t+ "u p>agraph 7#c7 or = endang]$ /atus "u p>agraph 7#b74 7#b7 ,election to be 9 endang]$ /atus ,subsection 7b7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$ & am5d$1 is fur!r am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#h7 ,election to be 9 endang]$ /atus ,not)/&+ p>agraph 7#b7-- 7,a7 ! plan sponsor ( a multiemploy] plan t is n 9 endang]$1 critical1 or decl9+ /atus = a plan ye> b t is project$ by ! plan actu>y1 pursuant to ! det]m9ation "u p>agraph 7#e71 to be 9 endang]$ /atus 9 any ( ! #e succe$+ plan ye>s1 may1 n lat] ?an #cj days aft] ! date ( ! c]tification "u p>agraph 7#e77;,a71 elect to be 9 endang]$ /atus effective = ! curr5t plan ye>1 7,b7 ! plan ye> 9 :i* ! plan sponsor elects to be 9 endang]$ /atus "u subp>agraph 7,a7 %all be treat$ = purposes ( ?is section z ! fir/ ye> 9 :i* ! plan is 9 endang]$ /atus1 reg>dless ( ! date on :i* ! plan fir/ satisfies ! crit]ia = endang]$ /atus "u p>agraph 7#b71 & 7,c7 a plan t is 9 endang]$ /atus "u ?is p>agraph %all n em]ge f endang]$ /atus unless ! plan's actu>y c]tifies "u p>agraph 7#e77;,a7 t ! plan is no long] 9 endang]$ /atus & is n 9 critical or decl9+ /atus4 4 7g7 ,am5dm5ts relat+ to fund+ improvem5t plan 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #cje7;d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;d771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by /rik+ ! la/ s5t5ce1 & 7,b7 9 subp>agraph 7,b71 by /rik+ fund+ improvem5t plan-- & all t foll[s & ins]t+ 8fund+ improvem5t plan1 %all provide to ! b>ga9+ p>ties #a or m s*$ules %[+ revis$ b5efit /ructures1 revis$ contribution /ructures1 or bo?1 :i*1 if adopt$1 may reasonably be expect$ to enable ! multiemploy] plan to meet ! requirem5ts ( p>agraph 7#c71 includ+-- 7i7 "o default proposal "u :i*-- 7,i7 all adju/able b5efits 9 ! =m ( e>ly retirem5t subsidies 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 "u ! plan are elim9at$1 & 7,,ii7 ! future mon?ly b5efit accrual rate "u ! plan is r$uc$ to ! equival5t ( #a p]c5t ( annual contributions 7or1 if l[]1 ! accrual rate z ( ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba7 bas$ on ! contribution rate 9 effect z ( ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s endang]$ /atus1 & :i* may also include r$uction or elim9ation ( any o!r adju/able b5efits "u ! plan1 & 7ii7 any additional s*$ules :i* r$uce or elim9ate adju/able b5efits "u ! plan :i* ! plan sponsor deems appropriate to provide z an alt]native to ! default proposal4 4 7#b7 ,fund+ improvem5t plan ,p>agraph 7#c7 ( section #cje7;d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d771 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7,a7 by /rik+ ,= purposes ( ?is section-- & all t foll[s ?r\gh :i* consi/s ( 9 subp>agraph 7,a7 & ins]t+ ,= purposes ( ?is section1 a fund+ improvem5t plan is a plan :i* consi/s (1 & 7,b7 by /rik+ =mulat$ to provide & all t foll[s & ins]t+ 8=mulat$1 bas$ on reasonably anticipat$ exp]i5ce & reasonable actu>ial assumptions1 to-- 7,a7 enable ! plan to em]ge f endang]$ /atus by ! end ( ! fund+ improvem5t p]iod1 & 7,b7 avoid any accumulat$ fund+ defici5cies dur+ ! fund+ improvem5t p]iod 7tak+ into acc\nt any ext5sion ( amortization p]iods "u section #cjd7;d774 4 7#c7 ,fund+ improvem5t p]iod ,p>agraph 7#d7 ( section #cje7;d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d77#d771 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ subp>agraph 7,b7 & ins]t+ aft] subp>agraph 7,a7 ! foll[+ new subp>agraph3 7,b7 ,new p]iod bas$ on adv]se exp]i5ce 7i7 ,9 g5]al ,if ! plan's actu>y det]m9es necess>y bas$ on adv]se plan exp]i5ce1 ! plan sponsor may provide = a new #aj-ye> p]iod z ( ! fir/ day ( any plan ye> 9 ! orig9al fund+ improvem5t p]iod1 b only if ! plan is /ill project$ to meet ! requirem5ts ( ! fund+ improvem5t plan & em]ge f endang]$ /atus at ! end ( ! new fund+ improvem5t p]iod4 7ii7 ,limitation ,a plan sponsor may provide a new #aj-ye> p]iod "u clause 7i7 n m ?an #a "t 9 any #bj-;consecutive-ye> p]iod1 unless ! plan sponsor submits to ! ,secret>y an application = an additional new p]iod4 ,su* application %all include a c]tification t ! plan is project$ to em]ge f endang]$ /atus 9 ! propos$ new #aj-ye> p]iod & a description ( key assumptions1 to be specifi$ 9 regulations promulgat$ by ! ,secret>y 9 consultation ) ! ,p5sion ,b5efit ,gu>anty ,corporation4 4 7#d7 ,con=m+ am5dm5ts 7,a7 ,subp>agraph 7,c7 ( section #cje7;d77#d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d77#d771 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ critical /atus bo? places x appe>s 9 clauses 7i7 & 7ii7 & ins]t+ critical or decl9+ /atus1 7ii7 by /rik+ rehabilitation p]iod 9 clause 7ii7 & ins]t+ rehabilitation or solv5cy atta9m5t p]iod1 & 7iii7 by /rik+ critical /atus 9 ! head+ ( clause 7ii7 & ins]t+ critical or decl9+ /atus4 7,b7 ,subsection 7d7 ( section #cje ( su* ,act 7#bi ,u4,s4,c4 #ajhe71 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ p>agraph 7#e7 & by r$esignat+ p>agraphs 7#f71 7#g71 & 7#h7 z p>agraphs 7#e71 7#f71 & 7#g71 respectively4 7,c7 ,p>agraph 7#f7 ( section #cje7;d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d771 z s r$esignat$1 is am5d$-- 7i7 by /rik+ 7#a77;,b77i77,i7 9 subp>agraph 7,a7 & ins]t+ 7#a77;,b77i71 & 7ii7 by /rik+ p>agraph 7#f77;,b7 9 subp>agraph 7,b77ii7 & ins]t+ p>agraph 7#e77;,b74 7,d7 ,p>agraph 7#b7 ( section #cje7;d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d771 z s r$esignat$1 is am5d$ by ins]t+ 1 except t ! next update ( ! fund+ improvem5t plan %all fulfill ! requirem5t ( p>agraph 7#a77;,b77i7 aft] = a prec$+ plan ye>4 7h7 ,am5dm5ts relat+ to rehabilitation plan 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #cje7;f7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;f771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$-- 7,a7 by /rik+ ! la/ #b s5t5ces1 & 7,b7 9 subp>agraph 7,b71 by /rik+ rehabilitation plan-- & all t foll[s & ins]t+ 8rehabilitation plan1 %all provide to ! b>ga9+ p>ties #a or m s*$ules %[+ revis$ b5efit /ructures1 revis$ contribution /ructures1 or bo?1 :i*1 if adopt$1 may reasonably be expect$ to enable ! multiemploy] plan to meet ! requirem5ts ( p>agraph 7#c71 includ+-- 7i7 "o default proposal "u :i*-- 7,i7 all adju/able b5efits 9 ! =m ( e>ly retirem5t subsidies 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 "u ! plan are elim9at$1 & 7,,ii7 ! future mon?ly b5efit accrual rate "u ! plan is r$uc$ to ! equival5t ( #a p]c5t ( annual contributions 7or1 if l[]1 ! accrual rate z ( ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba7 bas$ on ! contribution rate 9 effect z ( ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s critical /atus1 & :i* may also include r$uction or elim9ation ( any o!r adju/able b5efits "u ! plan1 & 7ii7 any additional s*$ules :i* r$uce or elim9ate adju/able b5efits "u ! plan :i* ! plan sponsor deems appropriate to provide z an alt]native to ! default proposal4 ,9 ! case ( a plan adopt+ a rehabilitation plan describ$ 9 p>agraph 7#c77;,a77ii71 no s*$ule provid$ to or adopt$ by ! b>ga9+ p>ties %all provide = a mon?ly b5efit accrual rate 9 excess ( ! rate describ$ 9 subp>agraph 7,b77i77,,ii74 4 7#b7 ,rehabilitation plan 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #cje7;f77#c7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#c771 z s r$esignat$1 is am5d$-- 7i7 by /rik+ & may include & all t foll[s ?r\gh su* actions 9 clause 7i71 7ii7 by ins]t+ 1 :ile delay+ insolv5cy = z long z possible & maximiz+ ! income ( ! plan1 includ+ income aft] insolv5cy be=e ! p]iod 9 clause 7ii71 & 7iii7 by /rik+ 7#a77;,b77i7 9 ! la/ s5t5ce & ins]t+ 7#a77;,b74 7,b7 ,con=m+ am5dm5ts ,clause 7i7 ( section #cje7;f77#c77;,c7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#c77;,c771 z s r$esignat$1 is am5d$-- 7i7 by /rik+ 7#a77;,b77i7 9 subclause 7,,ii7 & ins]t+ 7#a77;,b71 & 7ii7 by /rik+ ! la/ s5t5ce ( p>agraph 7#a7 & ins]t+ p>agraph 7#a77;,b77i74 7#c7 ,rehabilitation p]iod 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #cje7;f77#d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#d771 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by /rik+ ,! rehabilitation p]iod & ins]t+ ,except z o!rwise provid$ 9 ?is subp>agraph1 ! rehabilitation p]iod1 & 7ii7 by add+ at ! end ! foll[+3 ,if1 ^u exhau/ion ( all reasonable measures1 ! plan is n reasonably expect$ to em]ge f critical /atus by ! end ( su* #aj-ye> p]iod1 ! rehabilitation p]iod %all be ext5d$ to take into acc\nt ! project$ date ( em]g5ce f critical /atus 7if ! rehabilitation plan rema9$ 9 effect until su* date7 or ! project$ date ( insolv5cy 7if applicable7 7unless ! plan ent]s decl9+ /atus744 7,b7 ,em]g5ce f critical /atus ,subp>agraph 7,b7 ( section #cje7;f77#d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#d771 z s r$esignat$ & am5d$1 is fur!r am5d$-- 7i7 by ins]t+ & is n 9 decl9+ /atus1 aft] ! comma 9 clause 7i77,i71 7ii7 by /rik+ subclause 7,,iii7 ( clause 7i7 & ins]t+ ! foll[+3 7,,iii7 ! plan's project$ fund$ p]c5tage z ( ! fir/ day ( ! #ae? succe$+ plan ye> is at lea/ #ajj p]c5t & is project$ to increase aft] su* date4 1 7iii7 by /rik+ t-- & all t foll[s ?r\gh reg>dless ( :e!r 9 clause 7ii77,i7 & ins]t+ t ! plan meets ! requirem5ts ( subclauses 7,,ii7 & 7,,iii7 ( clause 7i71 reg>dless ( :e!r1 & 7iv7 by /rik+ unless-- & all t foll[s 9 clause 7ii77,,ii7 & ins]t+ unless1 z ( su* plan ye>1 ! plan fails to meet ! requirem5ts ( subclause 7,,ii7 or 7,,iii7 ( clause 7i744 7#d7 ,rules relat+ to b5efit increases dur+ rehabilitation p]iod ,subp>agraph 7,b7 ( section #cje7;g77#a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;g77#a771 z s r$esignat$ & am5d$1 is fur!r am5d$ by /rik+ unless & all t foll[s & ins]t+ unless ! am5dm5t is requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf or to comply ) o!r applicable law1 or ! am5dm5t provides = only a de m9imis increase 9 ! liabilities ( ! plan44 7#e7 ,con=m+ am5dm5ts 7,a7 ,p>agraph 7#f7 ( section #cje7;f7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f771 z s r$esignat$1 is am5d$ by /rik+ ! la/ s5t5ce ( p>agraph 7#a7 & ins]t+ p>agraph 7#a77;,b77i74 7,b7 ,p>agraph 7#b7 ( section #cje7;f7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f771 z s r$esignat$1 is am5d$ by ins]t+ 1 except t ! next update ( ! rehabilitation plan %all fulfill ! requirem5t ( p>agraph 7#a77;,b77i7 aft] = a prec$+ plan ye>4 7i7 ,actu>ial assumptions 7#a7 ,9 g5]al ,subsection 7n7 ( section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe71 z r$esignat$ by subsections 7a71 7d71 & 7e71 is am5d$-- 7,a7 by /rik+ me?od 9 ! head+ & ins]t+ me?od & assumptions1 & 7,b7 by add+ at ! end ! foll[+ new p>agraph3 7#aa7 ,actu>ial assumptions 7,a7 ,9 g5]al ,! actu>ial assumptions reli$ ^u = purposes ( ?is section by a plan actu>y %all be individually reasonable &1 9 ! aggregate1 %all be reasonable & 7) ! exception ( assumptions reg>d+ future contributions7 repres5t ! actu>y's be/ e/imate ( future plan exp]i5ce1 )9 limitations prescrib$ by ! ,secret>y ( ! ,treasury4 ,a plan actu>y %all avoid cons]vatism or optimism 9 individual assumptions to ! ext5t t !y w\ld result 9 a set ( assumptions t is unreasonable 9 ! aggregate4 7,b7 ,inve/m5t returns ,! inve/m5t return assumption = project+ plan assets may diff] f ! actu>ial valuation int]e/ rate4 ,9 select+ ! inve/m5t return assumption = project+ plan assets1 ! plan actu>y %all e/imate ! expect$ return ( ! plan's inve/m5ts z curr5tly inve/$ & z expect$ to be inve/$ 9 ! future1 consi/5t ) ! plan's adopt$ inve/m5t policy1 if applicable4 ,x is reasonable = an actu>y to expect t ! plan's inve/m5t decisions w consid] risk1 expect$ returns ov] "t1 & expect$ future b5efit paym5ts4 ,! inve/m5t return assumption %all n exce$ ! int]e/ rate us$ to det]m9e pa/ s]vice liability "u section #dca7;b77#f74 7,c7 ,contributions 7i7 ,9 g5]al ,! plan actu>y %all develop assumptions = ! projection ( future contributions1 includ+ assumptions reg>d+ indu/ry activity among contribut+ employ]s & contribution rates1 bas$ on in=mation provid$ by ! plan sponsor1 :i* mu/ act reasonably & 9 good fai?4 ,! plan actu>y %all c]tify ! reasonabl5ess ( all assumptions4 7ii7 ,project$ indu/ry activity ,any projection ( activity 9 ! indu/ry or indu/ries cov]$ by ! plan1 includ+ future cov]$ employm5t & contribution levels1 %all be bas$ on in=mation provid$ by ! plan sponsor act+ reasonably & 9 good fai?4 7iii7 ,future contribution base units 7,i7 ,decl9+ contribution base units ,if rec5t exp]i5ce ( ! plan has be5 decl9+ contribution base units1 ! plan actu>y may assume future contribution base units w cont9ue to decl9e at ! same annualiz$ tr5d z ov] ! #e imm$iately prec$+ plan ye>s1 unless ! actu>y det]m9es t !re h be5 significant *anges t w\ld make su* assumption unreasonable4 7,,ii7 ,flat or increas+ contribution base units ,if rec5t exp]i5ce ( ! plan has be5 increas+1 or nei!r increas+ nor decreas+1 contribution base units1 ! plan actu>y may assume future contribution base units w rema9 un*ang$ indef9itely1 unless ! actu>y det]m9es t !re h be5 significant *anges t w\ld make su* assumption unreasonable4 7iv7 ,future contribution rates 7,i7 ,9 g5]al ,projections ( contributions %all be bas$ on ! contribution rates consi/5t ) ! t]ms ( collective b>ga9+ & p>ticipation agreem5ts curr5tly 9 effect4 7,,ii7 ,future increases 9 accordance ) correction plans ,if reasonable & applicable1 ! plan actu>y may assume future increases 9 contribution rates consi/5t ) ! adopt$ fund+ improvem5t plan1 rehabilitation plan1 or solv5cy plan4 7,,iii7 ,additional factors ,in=mation provid$ by ! plan sponsor to ! plan actu>y 9 sett+ ! assumption reg>d+ future increases 9 contribution rates %all take into acc\nt ! ability ( ! p>ticipat+ employ]s to make contributions at ! s*$ul$ rates ov] "t1 consid]+ relevant factors su* z project$ indu/ry activity1 ! f9ancial /r5g? ( p>ticipat+ employ]s1 m>ket competition1 & ! s*$ul$ contribution rate to ! plan relative to ! ov]all wage package4 7,d7 ,assumptions = develop+ s*$ules ,all s*$ules "u any fund+ improvem5t plan1 rehabilitation plan1 or solv5cy plan mu/ be develop$ bas$ on ! same set ( actu>ial assumptions unless x w\ld be unreasonable to d s1 tak+ into acc\nt ! anticipat$ impact ( ! s*$ules on p>ticipant behavior & employ] p>ticipation4 4 7#b7 ,additions to ,=m #eejj ,s*$ule ,,mb ,subp>agraph 7,b7 ( section #cje7;b77#e7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#e771 z r$esignat$ & am5d$ by ?is section1 is fur!r am5d$ by add+ at ! end ! foll[+ new clause3 7vi7 ,additional atta*m5ts ,! plan actu>y %all atta* to ! c]tification requir$ "u subp>agraph 7,a7-- 7,i7 docum5tation support+ ! c]tification ( /atus "u subp>agraph 7,a77i71 includ+ projections ( ! fund+ /&>d acc\nt1 fund$ p]c5tage1 & solv5cy ( ! plan1 7,,ii7 a cle> description ( ! key assumptions us$ 9 p]=m+ ! projections1 includ+ inve/m5t returns1 contribution base units1 & contribution rates1 7,,iii7 a #e-ye> hi/ory ( contributions1 includ+ contribution base units1 av]age contribution rates1 & )drawal liability paym5ts1 & a comp>ison ( su* contribution base units1 rates1 & paym5ts to projections made by ! plan1 & 7,,iv7 an alt]nate projection ( ! fund+ /&>d acc\nt1 fund$ p]c5tage1 & solv5cy1 bas$ on ! foll[+ assumptions3 7aa7 ,annual future inve/m5t returns on plan assets equal ! actu>ial int]e/ rate assumption m9us #a p]c5t4 7bb7 ,future contribution base units project$ us+ a tr5d equal to ! less] (-- 7,,aa7 ! annualiz$ tr5d ( actual contribution base units ov] ! #e prec$+ plan ye>s1 & 7,,bb7 no *ange 9 future contribution base units4 7cc7 ,no increases 9 future contribution rates beyond ^? consi/5t ) ! collective b>ga9+ agreem5ts & p>ticipation agreem5ts 9 effect = ! plan ye>4 7dd7 ,! )drawal f ! plan ( ! employ] :i* has contribut$ ! greate/ total am\nt ( contributions ov] ! #e prec$+ plan ye>s1 if su* employ] has contribut$ at lea/ #aj p]c5t ( ! total contributions to ! plan ov] su* #e plan ye>s & su* employ] has a bel[ inve/m5t grade cr$it rat+ 7b only if obta9+ ! cr$it rat+ ( su* employ] is n an undue burd574 7ee7 ,if su* cr$it rat+ _c be obta9$ )\t undue burd51 ! )drawal ( ! employ] :i* has contribut$ ! greate/ total am\nt ( contributions ov] ! #e prec$+ plan ye>s1 if su* employ] has contribut$ at lea/ #aj p]c5t ( ! total contributions to ! plan ov] su* #e plan ye>s )\t reg>d to collection ( any )drawal liability4 7ff7 ,if no employ] has contribut$ at lea/ #aj p]c5t ( ! total contributions to ! plan ov] ! #e prec$+ plan ye>s1 ! )drawal ( ! employ] :i* contribut$ ! greate/ total am\nt ( contributions = ! curr5t plan ye>1 )\t reg>d to collection ( any )drawal liability1 unless ! employ] contribut$ less ?an #a p]c5t ( ! total contributions to ! plan = su* plan ye>4 7gg7 ,o!r assumptions consi/5t ) ! projection bas$ on ! actu>y's be/ e/imate assumptions4 4 7#c7 ,con=m+ am5dm5ts 7,a7 ,section #cje7;b77#e77;,b77i7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#e77;,b77i771 z r$esignat$ by ?is section1 is am5d$ by /rik+ assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,b7 ,section #cje7;b77#e77;,a77vi7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;b77#e77;,a77vi71 z am5d$ by ?is section & section #cba1 is fur!r am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,c7 ,p>agraph 7#c7 ( section #cje7;d7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;d771 z am5d$ by subsection 7g71 is fur!r am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,d7 ,clause 7i7 ( section #cje7;f77#c77;,a7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#c77;,a771 z am5d$ by subsection 7h71 is fur!r am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7,e7 ,section #cje7;h77#c7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;h77#c771 z add$ by subsection 7d71 is am5d$ by /rik+ reasonable actu>ial assumptions & ins]t+ assumptions meet+ ! requirem5ts ( subsection 7n77#aa74 7j7 ,con=m+ am5dm5ts relat+ to premiums ,p>agraph 7#aj7 ( section #djjf7;a7 ( su* ,act 7#bi ,u4,s4,c4 #acjf7;a771 z add$ by ?is ,act1 is am5d$-- 7#a7 by /rik+ #cje7;b77#g7 9 subp>agraph 7,b77iii7 !re( & ins]t+ #cje7;b77#d71 7#b7 by /rik+ critical & decl9+ 9 subp>agraph 7,b77iii7 !re( & ins]t+ decl9+1 & 7#c7 by /rik+ #cje7;f77#i7 9 subp>agraph 7,c7 & ins]t+ #cje7;h77#h74 7k7 ,con=m+ am5dm5ts relat+ to composite & legacy plans 7#a7 ,sections #bjc7;a77#c77;,e77ii71 #bjd7;b77#a77;,b77i71 #bjd7;b77#a77;,h77v71 & #bjd7;g77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajec7;a77#c77;,e77ii71 #ajed7;b77#a77;,b77i71 #ajed7;b77#a77;,h77v71 & #ajed7;g77#a771 z am5d$ by title ,v1 are ea* fur!r am5d$ by /rik+ #cje7;f7 ea* place x appe>s & ins]t+ #cje7;h77#h74 7#b7 ,sections #cjd7;b77#aj71 #hje7;d77#b77;,d71 & #hje7;d77#d7 ( su* ,act1 z add$ by title ,v1 are ea* am5d$ by /rik+ endang]$ or critical & ins]t+ endang]$1 critical1 or decl9+4 7#c7 ,section #hja7;b77#a7 ( su* ,act1 z s add$1 is am5d$ by /rik+ endang]$ or critical bo? places x appe>s & ins]t+ endang]$1 critical1 or decl9+4 7#d7 ,sections #hja7;b77#a71 #hja7;b77#e77;,b71 #hje7;b77#a77;,a71 & #hje7;e77#c7 ( su* ,act1 z s add$1 are ea* am5d$ by /rik+ #cje7;b77#d7 & ins]t+ #cje7;b77#e74 7#e7 ,sections #hja7;b77#e77;,b7 & #hje7;b77#a77;,a7 ( su* ,act1 z s add$1 are ea* am5d$ by /rik+ endang]$ or critical & ins]t+ endang]$1 critical1 or decl9+4 7#f7 ,section #hjb7;b77#a7 ( su* ,act1 z s add$1 is am5d$ by /rik+ & at ! end ( subp>agraph 7,b71 by /rik+ ! p]iod at ! end ( subp>agraph 7,c7 & ins]t+ 2 &1 & by add+ at ! end ! foll[+ new subp>agraph3 7,d7 consi/5t ) ! pr9ciples ( subp>agraphs 7,b71 7,c71 & 7,d7 ( section #cje7n77#aa74 4 7#g7 ,sections #hjb7;b77#e7 & #hje7;d77#b77;,a7 ( su* ,act1 z s add$1 are ea* am5d$ by /rik+ #cje7;b77#d77;,b7 & ins]t+ #cje7;b77#e77;,b74 7#h7 ,section #hjc7;a77#b77;,d7 ( su* ,act1 z s add$1 is am5d$ by /rik+ #cje7;f77#i77;,d77vi7 & ins]t+ #cje7;h77#h77;,d77vi74 7#i7 ,section #hjc7;a77#c7 ( su* ,act1 z s add$1 is am5d$ by /rik+ #cje7;f77#h7 & ins]t+ #cje7m77#a77;,d74 7#aj7 ,section #hje7;d77#b77;,d7 ( su* ,act1 z s add$ & am5d$1 is fur!r am5d$ by /rik+ fund+ improvem5t or rehabilitation plan & ins]t+ fund+ improvem5t1 rehabilitation1 or solv5cy plan4 7l7 ,additional con=m+ am5dm5ts 7#a7 ,section #ejb7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #aacb7;c77 is am5d$-- 7,a7 9 p>agraph 7#g77;,b71 z add$ by section #cbb1 by /rik+ #cje7;b77#d77;,d7 & ins]t+ #cje7;b77#e77;,d71 & 7,b7 9 p>agraph 7#ad71 z s add$ & z r$esignat$ by section #eja-- 7i7 by /rik+ #cje7;b77#d77;,d7 9 subp>agraph 7,a7 & ins]t+ #cje7;b77#e77;,d71 & 7ii7 by /rik+ #cje7;b77#d7 9 subp>agraph 7,b7 & ins]t+ #cje7;b77#e74 7#b7 ,section #djjc7;g7 ( su* ,act 7#bi ,u4,s4,c4 #acjc7;g771 z add$ by section #cba1 is am5d$ by /rik+ section #cje7;b77#d77;,a7 & ins]t+ section #cje7;b77#e77;,a74 7#c7 ,section #djdb7;b77#b77;,b77i7 ( su* ,act 7#bi ,u4,s4,c4 #acdb7;b77#b77;,b771 z add$ by section #cja1 is am5d$-- 7,a7 by /rik+ critical & decl9+ & ins]t+ decl9+1 & 7,b7 by /rik+ 7#g7 & ins]t+ 7#d74 7m7 ,effective date ,except z o!rwise provid$ 9 subsection 7a77#g71 ! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 7n7 ,cr$it rat+s ,no requirem5t ( section #ici or #ici;,a ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#abd ,/at4 #ahhg2 #ae ,u4,s4,c4 #gho-#g note7 %all apply ) respect to ! am5dm5t made by subsection 7i77#b74 #bac4 ,transition rules 7a7 ,plans 9 endang]$ /atus 7#a7 ,9 g5]al ,9 ! case ( a multiemploy] plan :i* is 9 endang]$ /atus z ( ! date ( ! enactm5t ( ?is ,act1 & is on s*$ule z ( su* date to meet ! applicable b5*m>ks 9 accordance ) ! plan's fund+ improvem5t plan-- 7,a7 ,election to apply law be=e am5dm5t ,! plan sponsor may elect to rema9 9 endang]$ /atus & to apply section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf & section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7 z 9 effect be=e ,janu>y #a1 #bjbb1 to ! plan1 b only if ! plan cont9ues to meet su* applicable b5*m>ks4 7,b7 ,transitional effective date ,if ! plan sponsor does n make ! election "u p>agraph 7#a7-- 7i7 section #dcb ( su* ,code & section #cje ( su* ,act z 9 effect on ,janu>y #a1 #bjbb1 %all apply to su* plan z ( ! fir/ day ( ! fir/ plan ye> beg9n+ aft] ,decemb] #ca1 #bjba1 & 7ii7 section #dcb7;d77#a77;,b77i77,,ii7 ( su* ,code & section #cje7;d77#a77;,b77i77,,ii7 ( su* ,act1 z am5d$ by sections #baa7;g7 & #bab7;g71 respectively1 %all ea* apply to su* plan by sub/itut+ ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba = ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s endang]$ /atus4 ,9 ! case ( any plan ) respect to :i* ! plan sponsor makes ! election "u subp>agraph 7,a7 b :i* fails to cont9ue to meet ! applicable b5*m>ks "u ! fund+ improvem5t plan1 ?is subp>agraph %all apply to su* plan by sub/itut+ ! plan ye> aft] ! fir/ plan ye> = :i* ! plan fails to meet ! applicable b5*m>ks = ! fir/ plan ye> beg9n+ aft] ,decemb] #ca1 #bjba4 7#b7 ,plans ent]+ endang]$ /atus betwe5 enactm5t & ,janu>y #a1 #bjbb ,9 ! case ( a multiemploy] plan :i* ent]s endang]$ /atus aft] ! date ( ! enactm5t ( ?is ,act & be=e ,janu>y #a1 #bjbb-- 7,a7 section #dcb ( su* ,code & section #cje ( su* ,act z 9 effect on ,janu>y #a1 #bjbb1 %all apply to su* plan z if already 9 effect1 & 7,b7 section #dcb7;d77#a77;,b77i77,,ii7 ( su* ,code & section #cje7;d77#a77;,b77i77,,ii7 ( su* ,act1 z am5d$ by sections #baa7;g7 & #bab7;g71 respectively1 %all ea* apply to su* plan by sub/itut+ ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba = ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s endang]$ /atus4 7b7 ,plans 9 critical or critical & decl9+ /atus 7#a7 ,9 g5]al ,9 ! case ( a qualifi$ critical multiemploy] plan-- 7,a7 ,election to apply law be=e am5dm5t ,! plan sponsor may elect to rema9 9 critical or critical & decl9+ /atus & to apply section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf & section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7 z 9 effect be=e ,janu>y #a1 #bjbb1 to ! plan1 b only if ! plan cont9ues to make s*$ul$ progress "u ! plan's rehabilitation plan4 7,b7 ,transitional effective date ,if ! plan sponsor does n make ! election "u p>agraph 7#a7-- 7i7 section #dcb ( su* ,code & section #cje ( su* ,act z 9 effect on ,janu>y #a1 #bjbb1 %all apply to su* plan z ( ! fir/ day ( ! fir/ plan ye> beg9n+ aft] ,decemb] #ca1 #bjba1 7ii7 section #dcb7;f77#a77;,b77i77,,ii7 ( su* ,code & section #cje7;f77#a77;,b77i77,,ii7 ( su* ,act1 z am5d$ by sections #baa7;h7 & #bab7;h71 respectively1 %all ea* apply to su* plan by sub/itut+ ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba = ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s critical /atus1 & 7iii7 section #dcb7;h77#a77;,b77i77,,ii7 ( su* ,code & section #cje7;h77#a77;,b77i77,,ii7 ( su* ,act1 z am5d$ by sections #baa7;d77#c7 & #bab7;d77#c71 respectively1 %all ea* apply to su* plan by sub/itut+ ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba = ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s decl9+ /atus4 ,9 ! case ( any plan ) respect to :i* ! plan sponsor makes ! election "u subp>agraph 7,a7 b :i* fails to cont9ue to make s*$ul$ progress "u ! rehabilitation plan1 ?is subp>agraph %all apply to su* plan by sub/itut+ ! plan ye> aft] ! fir/ plan ye> = :i* ! plan fails to make s*$ul$ progress "u ! rehabilitation plan = ! fir/ plan ye> beg9n+ aft] ,decemb] #ca1 #bjba4 7,c7 ,application ( premium am5dm5ts ,a plan ) respect to :i* ! plan sponsor makes ! election "u subp>agraph 7,a7 %all be treat$ z describ$ 9 clause 7iii7 ( section #djjf7;a77#aj77;,b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd until su* "t z ! plan em]ges f critical & decl9+ /atus pursuant to section #dcb ( su* ,code & section #cje ( su* ,act z 9 effect be=e ,janu>y #a1 #bjbb4 7#b7 ,plans ent]+ critical or critical & decl9+ /atus betwe5 enactm5t & ,janu>y #a1 #bjbb ,9 ! case ( a multiemploy] plan :i* ent]s critical or critical & decl9+ /atus aft] ! date ( ! enactm5t ( ?is ,act & be=e ,janu>y #a1 #bjbb-- 7,a7 section #dcb ( su* ,code & section #cje ( su* ,act z 9 effect on ,janu>y #a1 #bjbb1 %all apply to su* plan z if already 9 effect1 7,b7 section #dcb7;f77#a77;,b77i77,,ii7 ( su* ,code & section #cje7;f77#a77;,b77i77,,ii7 ( su* ,act1 z am5d$ by sections #baa7;h7 & #bab7;h71 respectively1 %all ea* apply to su* plan by sub/itut+ ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba = ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s critical /atus1 & 7,c7 section #dcb7;h77#a77;,b77i77,,ii7 ( su* ,code & section #cje7;h77#a77;,b77i77,,ii7 ( su* ,act1 z am5d$ by sections #baa7;d77#c7 & #bab7;d77#c71 respectively1 %all ea* apply to su* plan by sub/itut+ ! date ( ! enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba = ! fir/ day ( ! plan ye> 9 :i* ! plan ent]s decl9+ /atus4 7#c7 ,qualifi$ critical multiemploy] plan ,= purposes ( ?is subsection1 ! t]m qualifi$ critical multiemploy] plan means a multiemploy] plan :i* is 9 critical or critical & decl9+ /atus z ( ! date ( ! enactm5t ( ?is ,act1 & is mak+ s*$ul$ progress "u ! plan's rehabilitation plan1 b only if ! rehabilitation plan 7z 9 effect )\t reg>d to ! am5dm5ts made by ?is ,act7 t>gets em]g5ce f critical /atus n lat] ?an #c ye>s aft] ! end ( ! rehabilitation p]iod z 9 effect ) respect to su* plan on ! date ( ! enactm5t ( ?is ,act4 7c7 ,election 7#a7 ,9 g5]al ,an election "u subsection 7a77#a77;,a7 or 7b77#a77;,a7 %all be made-- 7,a7 by notice to ! ,secret>y ( ! ,treasury & ! ,p5sion ,b5efit ,gu>anty ,corporation1 9 su* mann] z ! ,secret>y ( ! ,treasury may prescribe1 & 7,b7 n lat] ?an ! due date = ! notice ( endang]$ /atus or critical /atus = ! fir/ plan ye> beg9n+ aft] ,decemb] #ca1 #bjba4 7#b7 ,p]iods aft] election ,aft] mak+ a timely election "u p>agraph 7#a7-- 7,a7 ! plan sponsor %all annually review & update 7if necess>y7 ! plan's fund+ improvem5t plan or rehabilitation plan1 & 7,b7 ! plan actu>y %all c]tify annually :e!r ! plan is mak+ s*$ul$ progress "u ! fund+ improvem5t plan or rehabilitation plan4 7d7 ,def9itions ,any t]m us$ 9 ?is section :i* is also us$ 9 section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf or section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7be=e or aft] ! am5dm5ts made by ?is ,act7 %all h ! same mean+ z :5 us$ 9 su* sections4 ,,ii ,provisions relat+ to plan m]g]s #bba4 ,provisions relat+ to plan m]g]s & consolidations 7a7 ,9 g5]al ,section #dbca7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adaa7;c77 is am5d$-- 7#a7 by /rik+ section #djf7;a7 or section #djf7;b77#b7 & ins]t+ section #djd1 #djf7;a71 or #djf7;b77#b71 & 7#b7 by add+ at ! end ! foll[+3 ,! corporation %all prescribe safe h>bor provisions :]eby a m]g] ( multiemploy] plans or ! transf] ( assets or liabilities betwe5 multiemploy] plans1 :]e "o ( ! plans is 9 critical & decl9+ /atus pursuant to section #cje & "o is 9 /able or unre/rict$ /atus pursuant to su* section1 %all be deem$ to satisfy ! requirem5ts ( ?is section4 ,not)/&+ ! prec$+ s5t5ces1 ! implem5tation ( su* m]g] or transf] %all be subject to ! rules ( section #djd44 7b7 ,calculation ( )drawal liability 7#a7 ,9 g5]al ,section #dbca ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adaa7 is am5d$ by add+ at ! end ! foll[+ new subsection3 7f7 ,calculation ( )drawal liability po/-,m]g] ,! corporation %all prescribe ! me?ods & conditions "u :i* employ]s contribut+ to plans :i* are 9 /able or unre/rict$ /atus "u section #cje :5 su* plan m]ges ) a plan 9 decl9+ /atus "u su* section w n be allocat$ ! unfund$ ve/$ b5efits ( ! plan 9 decl9+ /atus 7z det]m9$ imm$iately be=e ! m]g]74 4 7#b7 ,effective date ,! am5dm5t made by ?is section %all apply to plan m]g]s aft] ,decemb] #ca1 #bjba4 #bbb4 ,cl>ification ( ,,pbgc f9ancial assi/ance = plan m]g]s & p>titions 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #dbca7;e7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adaa7;e77 is am5d$-- 7#a7 by /rik+ ! semicolon 9 subp>agraph 7,b77ii7 & ins]t+ 1 det]m9$ solely ) respect to ! liabilities & assets ( ! plan :i* 0 9 critical & decl9+ /atus prior to ! m]g]2 &2 & 7#b7 by /rik+ subp>agraph 7,c7 & r$esignat+ subp>agraph 7,d7 z subp>agraph 7,c74 7b7 ,p>titions ,section #dbcc7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adac7;b77 is am5d$ by /rik+ p>agraph 7#d71 by add+ & at ! end ( p>agraph 7#c77;,b71 & by r$esignat+ p>agraph 7#e7 z p>agraph 7#d74 7c7 ,con=m+ am5dm5t relat+ to /atus *anges ,section #dbca7;e77#b77;,b77ii7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adaa7;e77#b77;,b77ii771 z am5d$ by subsection 7a71 is fur!r am5d$ by /rik+ critical & decl9+ & ins]t+ decl9+4 7d7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by subsections 7a7 & 7b7 %all apply to plan m]g]s & p>titions tak+ effect aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,con=m+ am5dm5t ,! am5dm5t made by subsection 7c7 %all apply to plan m]g]s tak+ effect 9 plan ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 #bbc4 ,re/oration n requir$ = c]ta9 m]g]s 7a7 ,am5dm5t ( ,int]nal ,rev5ue ,code ( #aihf ,clause 7ii7 ( section #dcb7;f77#i77;,c7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is am5d$ by add+ at ! end ! foll[+ flu% language3 ,if1 dur+ ! p]iod ( ! b5efit susp5sion1 ! plan m]ges ) a plan :i* is 9 /able or unre/rict$ /atus1 no?+ 9 ?is clause %all be con/ru$ to require ! plan =m$ by ! m]g] to re/ore ! susp5sion ( b5efits4 4 7b7 ,am5dm5t ( ,,erisa ,clause 7ii7 ( section #cje7;f77#i77;,c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,c771 z r$esignat$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is am5d$ by add+ at ! end ! foll[+ flu% language3 ,if1 dur+ ! p]iod ( ! b5efit susp5sion1 ! plan m]ges ) a plan :i* is 9 /able or unre/rict$ /atus1 no?+ 9 ?is clause %all be con/ru$ to require ! plan =m$ by ! m]g] to re/ore ! susp5sion ( b5efits4 4 7c7 ,effective date ,! am5dm5ts made by subsections 7a7 & 7b7 %all apply to plan m]g]s tak+ effect aft] ! date ( ! enactm5t ( ?is ,act4 ,,iii ,)drawal liability re=m #bca4 ,)drawal liability re=m 7a7 ,)drawal liability def9ition ,section #dbja7;b77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acha7;b77#a77 is am5d$ to read z foll[s3 7#a7 ,det]m9ation ( )drawal liability 7,a7 ,9 g5]al ,! )drawal liability ( an employ] to a plan is ! applicable am\nt det]m9$ "u subp>agraph 7,b71 adju/$-- 7i7 fir/1 9 ! case ( a p>tial )drawal1 9 accordance ) section #dbjf2 7ii7 second1 by any de m9imis r$uction applicable "u section #dbji2 & 7iii7 ?ird1 9 accordance ) section #dbbe4 7,b7 ,applicable am\nt ,! applicable am\nt det]m9$ "u ?is subp>agraph is ! less] (-- 7i7 ! am\nt det]m9$ "u section #dbaa to be ! allocable am\nt ( unfund$ ve/$ b5efits2 or 7ii7 ! pres5t value ( a s]ies ( #bj equal annual paym5ts 9 ! am\nt det]m9$ ) respect to ! employ] "u section #dbai7;c77#a77;,c74 ,9 ! case ( an employ] )draw+ f a multiemploy] plan describ$ 9 subp>agraph 7,c71 clause 7i7 %all be appli$ by sub/itut+ #be = #bj4 7,c7 ,plans = :i* #be paym5ts requir$ 7i7 ,9 g5]al ,a multiemploy] plan is describ$ 9 ?is subp>agraph if ! plan-- 7,i7 is c]tifi$ to be 9 decl9+ /atus 7or1 = plan ye>s prior to #bjbb1 9 critical or decl9+ /atus7 = ! plan ye> 9 :i* ! employ]'s )drawal occurs2 or 7,,ii7 t]m9ates z describ$ 9 section #djda;,a7a7 or #djdb4 7ii7 ,special rule = t]m9ations ,clause 7i77,,ii7 %all apply to ea* employ] :o )draws f a plan dur+ a p]iod ( #c consecutive plan ye>s t includes ! )drawal ( e employ] f ! plan1 or ! cessation ( ! obligation ( all employ]s to contribute "u ! plan1 z describ$ 9 section #djda;,a7a77#b74 ,= purposes ( ?is clause1 )drawal by an employ] f a plan1 dur+ a p]iod ( #c consecutive plan ye>s )9 :i* sub/antially all ! employ]s :o h an obligation to contribute "u ! plan )draw1 %all be presum$ to be a )drawal pursuant to an agreem5t or arrangem5t1 unless ! employ] proves o!rwise by a prepond]ance ( ! evid5ce4 7,d7 ,pres5t value ,= purposes ( subp>agraph 7,b77ii71 ! pres5t value ( ! annual paym5ts %all be det]m9$ bas$ on ! assumptions us$ = ! mo/ rec5t actu>ial valuation = ! plan us$ to det]m9e unfund$ pa/ s]vice liability = fund+ purposes4 4 7b7 ,de m9imis rule ,section #dbji ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #achi7 is am5d$-- 7#a7 9 subsection 7a7-- 7,a7 9 ! matt] prec$+ p>agraph 7#a71 by /rik+ unfund$ ve/$ b5efits allocable "u section #dbaa to & ins]t+ applicable am\nt det]m9$ "u section #dbja7;b77#a77;,b7 ) respect to2 7,b7 9 p>agraph 7#b71 by /rik+ #ej1jjj & ins]t+ #ajj1jjj2 & 7,c7 9 ! flu% text foll[+ p>agraph 7#b7-- 7i7 by /rik+ ! unfund$ ve/$ b5efits & ins]t+ su* applicable am\nt2 & 7ii7 by /rik+ #ajj1jjj & ins]t+ #bjj1jjj2 7#b7 9 subsection 7b7-- 7,a7 9 ! matt] prec$+ p>agraph 7#a71 by /rik+ am\nt det]m9$ "u section #dbaa & ins]t+ applicable am\nt det]m9$ "u section #dbja7;b77#a77;,b7 ) respect to an employ]2 7,b7 9 p>agraph 7#b77;,b71 by /rik+ #ajj1jjj & ins]t+ #bej1jjj2 & 7,c7 9 ! flu% text at ! end-- 7i7 by /rik+ ! am\nt det]m9$ "u section #dbaa = & ins]t+ su* applicable am\nt ) respect to2 & 7ii7 by /rik+ #aej1jjj & ins]t+ #ejj1jjj4 7c7 ,paym5t ( )drawal liability ,section #dbai7;c77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acii7;c77#a77 is am5d$-- 7#a7 by /rik+ s mu* ( p>agraph 7#a7 z prec$es subp>agraph 7,c7 & ins]t+3 7#a7 7,a7 7i7 ,subject to subp>agraph 7,b71 an employ] %all pay its liability det]m9$ "u section #dbja7;b77#a7 9 level annual paym5ts det]m9$ "u subp>agraph 7,c7 ov] ! applicable p]iod ( ye>s det]m9$ "u clause 7ii71 calculat$ z if ! fir/ paym5t 7 made on ! fir/ day ( ! plan ye> foll[+ ! plan ye> 9 :i* ! )drawal occurs & z if ea* subsequ5t paym5t 7 made on ! fir/ day ( ea* subsequ5t plan ye>4 ,actual paym5t %all comm5ce 9 accordance ) p>agraph 7#b74 7ii7 ,= purposes ( clause 7i71 if ! applicable am\nt us$ "u section #dbja7;b77#a77;,a7 is ! am\nt det]m9$-- 7,i7 "u section #dbja7;b77#a77;,b77i71 ! applicable p]iod ( ye>s is ! p]iod ( ye>s necess>y to amortize su* am\nt 9 level annual paym5ts det]m9$ "u subp>agraph 7,c71 or 7,,ii7 "u section #dbja7;b77#a77;,b77ii71 ! applicable p]iod ( ye>s is #bj ye>s 7#be ye>s if ! plan is describ$ 9 section #dbja7;b77#a77;,c774 7iii7 ,= purposes ( clause 7ii77,i71 ! det]m9ation ( ! amortization p]iod describ$ 9 clause 7i7 %all be bas$ on ! assumptions us$ = ! mo/ rec5t actu>ial valuation = ! plan to det]m9e unfund$ pa/ s]vice liability = fund+ purposes4 7,b7 7i7 ,if any adju/m5t is requir$ to ! )drawal liability am\nt by reason ( clause 7i71 7ii71 or 7iii7 ( section #dbaj7;b77#a77;,a71 modifications %all be made "u subp>agraph 7,a7 to reflect su* adju/m5ts 9 accordance ) ?is subp>agraph & 9 su* mann] z ! corporation %all provide4 7ii7 ,9 ! case ( a p>tial )drawal describ$ 9 section #dbje7;a71 ! am\nt ( ea* annual paym5t %all be ! product (-- 7,i7 ! am\nt det]m9$ "u subp>agraph 7,c7 7det]m9$ )\t reg>d to ?is subp>agraph71 multipli$ by 7,,ii7 ! fraction det]m9$ "u section #dbjf7;a77#b74 7iii7 ,9 ! case ( a de m9imis r$uction "u section #dbji1 ! p]iod ( ye>s describ$ 9 subp>agraph 7,a77ii77,i7 %all be adju/$ s t ! )drawal liability am\nt1 z r$uc$ "u su* section1 is amortiz$ 9 level annual paym5ts det]m9$ "u subp>agraph 7,c74 2 7#b7 9 subp>agraph 7,c7-- 7,a7 9 clause 7i77,i7-- 7i7 by /rik+ #c & ins]t+ #e2 & 7ii7 by /rik+ #aj & ins]t+ #bj2 & 7,b7 by /rik+ clause 7iii72 & 7#c7 by /rik+ subp>agraphs 7,d7 & 7,e7 & ins]t+ ! foll[+3 7,d7 7i7 ,9 ! case ( a subsequ5t p>tial )drawal or a complete )drawal t 0 prec$$ by "o or m p>tial )drawals1 ! am\nt ( ! annual paym5t ) respect to ! subsequ5t p>tial )drawal or complete )drawal %all be r$uc$ by ! am\nts ( ! paym5ts det]m9$ "u subp>agraph 7,b77ii7 ) respect to ea* ( ! prec$+ p>tial )drawals4 7ii7 ,! am\nt ( any r$uctions describ$ 9 clause 7i7 %all be phas$ out consi/5t ) ! me?od & p]iod ( "t be+ us$ by ! plan to allocate unfund$ ve/$ b5efits "u section #dbaa4 7iii7 ,! corporation may prescribe regulations z may be necess>y to provide = prop] adju/m5ts 9 ! r$uction 9 ! paym5t am\nt "u clauses 7i7 & 7ii74 4 7d7 ,am5dm5t ( plan ,section #dbaa7;c77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acia7;c77#a77 is am5d$-- 7#a7 by ins]t+ 7,a7 aft] 7c77#a71 7#b7 by /rik+ 7b7 or 7d74 ,a plan & ins]t+ 87b7 or 7d74 7,b7 ,a multiemploy] plan 1 & 7#c7 by /rik+ 1 to ! ext5t provid$ & all t foll[s & ins]t+ 8to provide-- 7i7 t ! am\nt ( ! unfund$ ve/$ b5efits allocable to an employ] t )draws f ! plan is an am\nt det]m9$ "u p>agraph 7#e7 ( ?is subsection1 r ?an "u subsection 7b71 or 7ii7 to ! ext5t provid$ 9 regulations prescrib$ by ! corporation1 t ! am\nt ( ! unfund$ ve/$ b5efits allocable to an employ] n describ$ 9 section #dbjc7;b77#a77;,a7 %all be det]m9$ 9 a mann] diff]5t f t provid$ 9 subsection 7b74 4 ,,iii ,plan gov]nance1 disclosure1 & o!r re=ms = multiemploy] def9$ b5efit p5sion plans ,a ,plan gov]nance & op]ations = multiemploy] plans #cja4 ,indep5d5t tru/ees ,section #djdb ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acdb7 is am5d$-- 7#a7 9 subsection 7a7-- 7,a7 9 ! matt] prec$+ p>agraph 7#a71 by /rik+ a plan & ins]t+ a s+le-employ] or multiemploy] plan2 7,b7 9 p>agraph 7#c7-- 7i7 by ins]t+ ) respect to a s+le-employ] plan be=e ! comma2 & 7ii7 by /rik+ or2 7,c7 9 p>agraph 7#d71 by /rik+ ! p]iod at ! end & ins]t+ 1 or2 & 7,d7 by ins]t+ aft] p>agraph 7#d7 ! foll[+3 7#e7 9 ! case ( a multiemploy] plan-- 7,a7 su* plan is an eligible multiemploy] plan z def9$ 9 section #dbcc;,a :i* fails to apply = a special p>tition "u su* section1 or 7,b7 t]m9ation ( ! plan w\ld protect ! int]e/s ( p>ticipants & b5efici>ies4 2 7#b7 9 subsection 7b7-- 7,a7 9 p>agraph 7#b7-- 7i7 9 subp>agraph 7,a7-- 7,i7 by ins]t+ or remove aft] appo9t1 7,,ii7 by ins]t+ or removal aft] appo9tm5t1 & 7,,iii7 by /rik+ & at ! end2 7ii7 by /rik+ subp>agraph 7,b7 & ins]t+ ! foll[+3 7,b7 ^u ! petition ( ! corporation1 ! appropriate ,unit$ ,/ates di/rict c\rt %all appo9t a tru/ee propos$ by ! corporation =-- 7i7 any multiemploy] plan :i* is 9 critical /atus or critical & decl9+ /atus 7z def9$ 9 p>agraph 7#c7 or 7#g71 respectively1 ( section #cje7;b771 if ! c\rt f9ds ! appo9tm5t ( ! tru/ee w\ld help prev5t an abuse ( ! multiemploy] insurance program or any unreasonable increase 9 ! liability ( ! fund1 & 7ii7 any multiemploy] plan :i* has t]m9at$ "u section #djda;,a7a71 unless a p>ty oppos+ appo9tm5t ( a tru/ee %[s t su* appo9tm5t w\ld be mat]ially adv]se to ! int]e/s ( ! plan p>ticipants & b5efici>ies 9 ! aggregate1 & 2 & 7iii7 by add+ at ! end ! foll[+3 7,c7 9 ! case ( a special p>tition ( a plan "u section #dbcc;,a1 ! corporation may remove & appo9t tru/ees subject to ! provisions ( p>agraph 7#e74 2 & 7,b7 by add+ at ! end ! foll[+3 7#d7 7,a7 ,a tru/ee appo9t$ to a multiemploy] plan "u p>agraph 7#b77;,b71 7#b77;,c71 or 7#c7 %all report plan activity to ! corporation1 9 ! =m & mann] provid$ = 9 ! judicial or adm9i/rative ord] or agreem5t appo9t+ ! tru/ee4 ,a tru/ee s appo9t$ may rema9 a tru/ee engag$ 9 ! ongo+ gov]nance ( a multiemploy] plan :e!r or n ! corporation initiates plan t]m9ation proce$+s "u subsection 7c74 7,b7 ,not)/&+ plan or tru/ docum5ts to ! contr>y1 9 addition to any p[]s describ$ 9 subsection 7d71 ! ord] or agreem5t appo9t+ a tru/ee "u p>agraph 7#b77;,b71 7#b77;,c71 or 7#c7 may include au?ority = ! corporation to monitor & ov]see plan activity & to review & approve tru/ee decisions relat$ to fund+ or f9ancial activities ( ! plan4 7#e7 7,a7 ,! corporation may remove any tru/ees ( an orig9al plan t receiv$ a special p>tition "u section #dbcc;,a if ! corporation det]m9es t ! actions ( su* tru/ees unreasonably increas$ ! risk ( loss to p>ticipants 9 ! plan or to ! corporation1 & may appo9t #a or m new tru/ees z replacem5ts4 7,b7 ,! corporation may appo9t a special ma/]1 :i* may be an employee ( ! corporation1 ! duties ( :om %all be disclos$ to p>ticipants & contribut+ employ]s 9 accordance ) regulations to be issu$ by ! corporation1 ) respect to ea* orig9al plan1 z def9$ 9 section #dbcc;,a4 ,su* special ma/] %all be invit$ to e meet+ ( ! plan's bo>d ( tru/ees or any committees !re(2 %all be furni%$ any reque/$ actu>ial or f9ancial in=mation by ! plan or ag5ts !re(2 %all receive all cr$itable compla9ts or o!r in=mation f p>ticipants1 b5efici>ies1 employ]s1 plan employees & contractors1 & any o!r p]son reg>d+ ! plan's op]ations2 & %all furni% ! corporation ) semiannual reports ( ! bo>d's activities1 ! plan's p]=mance1 & ! pot5tial liabilities ( ! corporation ) respect to ! plan4 ,! tru/ees %all provide ! special ma/] ) n less ?an #cj days notice prior to tak+ any action t c\ld increase ! risk ( loss to ! corporation1 & ! special ma/] %all report su* pot5tial action to ! corporation )9 #e days ( receiv+ su* notice f ! tru/ees4 2 7#c7 9 subsection 7c77#a7-- 7,a7 9 ! second s5t5ce1 by /rik+ subsection 7b7 & ins]t+ subsection 7b77#a72 & 7,b7 9 ! ?ird s5t5ce1 by ins]t+ 1 includ+1 9 ! case ( a multiemploy] plan1 by requir+ ! )drawal ( employ]s be=e ! p]iod2 & 7#d7 9 subsection 7d77#a7-- 7,a7 9 subp>agraph 7,a71 by /rik+ subsection 7b7 9 ! second s5t5ce & ins]t+ subsection 7b77#a72 & 7,b7 9 subp>agraph 7,b71 by /rik+ ,if & ins]t+ ,if a tru/ee is appo9t$ "u p>agraph 7#b7 or 7#c7 ( subsection 7b71 or if4 #cjb4 ,inve/igatory au?ority ,section #djjc7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjc7;a77 is am5d$ to read z foll[s3 7a7 7#a7 ,! corporation may1 9 its discretion1 inve/igate any facts1 conditions1 practices1 or matt]s z ! corporation det]m9es necess>y or prop] to aid 9-- 7,a7 ! en=cem5t ( any provision ( ?is title or any rule or regulation !reund]2 7,b7 ! prescrib+ ( rules & regulations "u ?is title2 or 7,c7 evaluat+ ! corporation's liability or pot5tial liability ) respect to a plan4 7#b7 ,any in=mation or docum5t>y mat]ial submitt$ to ! corporation pursuant to ?is section1 if cle>ly designat$ by ! p]son mak+ ! submission z confid5tial 7on ea* page 9 ! case ( a docum5t1 & 9 ! file "n 9 ! case ( a digital file71 %all be exempt f disclosure "u section #eeb ( title #e1 ,unit$ ,/ates ,code1 & no su* in=mation or docum5t>y mat]ial may be made public1 except z may be relevant to any adm9i/rative or judicial action or proce$+1 includ+ an in=mal rulemak+4 7#c7 ,! corporation may require or p]mit any p]son to submit a /atem5t 9 writ+1 "u oa? or o!rwise z ! corporation det]m9es1 z to all facts & circum/ances conc]n+ ! matt] to be inve/igat$4 7#d7 ,! corporation %all annually audit a /ati/ically significant numb] ( plans t]m9at+ "u section #djda7;b7 to det]m9e :e!r p>ticipants & b5efici>ies h receiv$ _! b5efit commitm5ts & :e!r section #djej7;a7 has be5 satisfi$4 ,ea* audit %all include a /ati/ically significant numb] ( p>ticipants & b5efici>ies4 4 #cjc4 ,conditions on f9ancial assi/ance 7a7 ,9 g5]al ,section #dbfa7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adca7;b77 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ ! p]iod at ! end & ins]t+ 1 or to prev5t an abuse ( ! multiemploy] insurance program or any unreasonable increase 9 ! liability ( ! fund4 ,! corporation %all provide ! plan sponsor writt5 notice ( ea* condition on f9ancial assi/ance & a writt5 explanation ( its det]m9ation4 ,if ! sponsor fails to satisfy timely a condition on f9ancial assi/ance1 ! corporation may )hold f9ancial assi/ance until ! condition is satisfi$42 & 7#b7 by add+ at ! end ! foll[+3 7#c7 ,! conditions describ$ 9 p>agraph 7#a7 may include an (fset = ! gu>ante$ b5efits ( a p>ticipant ^: b5efit 9 excess ( ! b5efit gu>ante$ "u ?is title is provid$ by ano!r plan1 or 9 ! case ( a plan t has n yet t]m9at$1 ! cessation ( future accruals or a requirem5t t contribution am\nts or annual )drawal liability paym5t am\nts "u section #dbai be ma9ta9$ z if ! employ] _h )drawn on ! date ( insolv5cy4 4 7b7 ,con=m+ am5dm5t ,section #dbfa7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #adca7;a77 is am5d$ by /rik+ section #dbde7;f7 or section #dbha7;d7 & ins]t+ section #dbde7;e7 or #dbha4 #cjd4 ,excise tax on excess comp5sation ( cov]$ employees ( p>tition$ multiemploy] plans 7a7 ,9 g5]al ,*apt] #dc ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new section3 #dihj;,i4 ,tax on excess comp5sation ( cov]$ employees ( p>tition$ multiemploy] plans 7a7 ,tax impos$ ,9 ! case ( an applicable multiemploy] plan1 !re is h]eby impos$ an excise tax = ea* plan ye> 9 an am\nt equal to ! product (-- 7#a7 ! rate ( tax "u section #aa = taxable ye>s beg9n+ 9 ! cal5d> ye> 9 :i* su* plan ye> beg9s1 & 7#b7 s mu* ( ! remun]ation paid by ! applicable multiemploy] plan = ! plan ye> ) respect to employm5t ( any cov]$ employee z exce$s #ejj1jjj4 ,= purposes ( ! prec$+ s5t5ce1 remun]ation %all be treat$ z paid :5 !re is no sub/antial risk ( =feiture 7)9 ! mean+ ( section #deg7;f77#c77;,b77 ( ! rights to su* remun]ation4 7b7 ,liability = tax ,! applicable multiemploy] plan %all be liable = ! tax impos$ "u subsection 7a74 7c7 ,def9itions & special rules ,= purposes ( ?is section-- 7#a7 ,applicable multiemploy] plan ,! t]m applicable multiemploy] plan means any multiemploy] plan :i* is an orig9al plan 7z def9$ 9 section #dbcc;,a7d77#c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd7 ) respect to a multiemploy] plan :i* 0 p>tition$ pursuant to an ord] by ! ,p5sion ,b5efit ,gu>anty ,corporation "u section #dbcc;,a ( su* ,act4 7#b7 ,cov]$ employee ,! t]m cov]$ employee means any employee 7includ+ any =m] employee7 ( an applicable multiemploy] plan if ! employee-- 7,a7 is "o ( ! #e highe/ comp5sat$ employees ( ! plan = ! plan ye>1 or 7,b7 0 a cov]$ employee ( ! organization 7or any pr$ecessor7 = any prec$+ plan ye> beg9n+ aft] ! date ( ! enactm5t ( ?is section4 7#c7 ,remun]ation ,! t]m remun]ation means wages 7z def9$ 9 section #cdja7;a774 7d7 ,regulations ,! ,secret>y %all prescribe su* regulations z may be necess>y to prev5t avoidance ( ! tax "u ?is section1 includ+ regulations to prev5t avoidance ( su* tax ?r\gh ! p]=mance ( s]vices o!r ?an z an employee or by provid+ comp5sation ?r\gh a pass-?r\gh or o!r entity 7includ+ a relat$ entity7 to avoid su* tax4 4 7b7 ,con=m+ am5dm5t ,! table ( sections = *apt] #dc ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #dihj;,i4 ,tax on excess comp5sation ( cov]$ employees ( p>tition$ multiemploy] plans4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ! date ( enactm5t ( ?is ,act4 ,b ,reportable ev5ts = multiemploy] plans #caa4 ,reportable ev5ts 7a7 ,additional reportable ev5ts 7#a7 ,9 g5]al ,section #djdc7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acdc7;c77 is am5d$ by /rik+ or at ! end ( p>agraph 7#ab71 by r$esignat+ p>agraph 7#ac7 z p>agraph 7#ag71 & by ins]t+ aft] p>agraph 7#ab7 ! foll[+ new p>agraphs3 7#ac7 :5 ! plan sponsor ( a multiemploy] plan1 or su* sponsor's delegate1 conv5es or o!rwise takes action to adopt any am5dm5t 7or accepts any collective b>ga9+ agreem5t7 t w\ld exclude newly hir$ employees f p>ticipation 9 ! plan1 or any am5dm5t 7or agreem5t7 t w\ld sub/antially r$uce ! rate ( future b5efit accruals or ! contribution rate = any p>ticipants "u ! plan2 7#ad7 :5-- 7,a7 ! plan sponsor ( a multiemploy] plan1 or su* sponsor's delegate1 conv5es or o!rwise takes action to adopt2 or 7,b7 ! plan sponsor receives notice "u subsection 7f7 or o!rwise becomes aw>e t ! b>ga9+ p>ties h negotiat$ an agreem5t to adopt2 a new p5sion plan1 includ+ any plan a tru/ =m+ "p ( :i* is a qualifi$ tru/ "u section #dja7;a7 ( ! ,int]nal ,rev5ue ,code ( #aihf & any plan treat$ z a welf>e plan by reason ( section #c7b77;,b77ii71 ! expect$ p>ticipants ( :i* are expect$ to sub/antially ov]lap ) ! active p>ticipants 9 a preexi/+ plan2 7#ae7 :5 an ev5t p]ta9+ to a multiemploy] plan occurs t is prescrib$ by ! corporation 9 regulations1 if ! ev5t mat]ially jeop>dizes ! security ( p>ticipant b5efits or ! f9ancial condition ( ! plan1 or is likely to increase ! risk ( loss to ! corporation2 7#af7 :5 a multiemploy] plan has1 or w =eseeably h1 only "o tru/ee or no tru/ees on its bo>d2 or 4 7#b7 ,notification by b>ga9+ p>ties ,section #djdc ( su* ,act 7#bi ,u4,s4,c4 #acdc7 is am5d$ by r$esignat+ subsection 7f7 z subsection 7g71 & by ins]t+ aft] subsection 7e7 ! foll[+ new subsection3 7f7 ,notification by b>ga9+ p>ties ,n lat] ?an #fj days prior to ! adoption ( a new p5sion plan describ$ 9 subsection 7c77#ad71 ! b>ga9+ p>ties %all notify ! plan sponsor ( ! negotiation ( an agreem5t to adopt su* plan4 4 7#c7 ,con=m+ am5dm5t ,section #djdc7;b77#c7 ( su* ,act 7#bi ,u4,s4,c4 #acdc7;b77#c77 is am5d$ by /rik+ 7#ac7 & ins]t+ 7#ag74 7b7 ,application to plans 7#a7 ,9 g5]al ,section #djdc7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acdc7;a77 is am5d$ by ins]t+ 1 plan sponsor 79 ! case ( a multiemploy] plan71 aft] plan adm9i/rator4 7#b7 ,notification t ev5t is ab\t to occur ,section #djdc7;b7 ( su* ,act 7#bi ,u4,s4,c4 #acdc7;b77 is am5d$-- 7,a7 9 p>agraph 7#a7-- 7i7 by r$esignat+ subp>agraphs 7,a7 & 7,b7 z clauses 7i7 & 7ii71 respectively1 & by mov+ su* clauses #b ems to ! "r2 7ii7 by /rik+ %all be applicable to a contribut+ sponsor & ins]t+ 8%all be applicable-- 7,a7 to any plan sponsor ( a multiemploy] plan2 & 7,b7 to any contribut+ sponsor 2 & 7iii7 9 ! la/ s5t5ce1 by /rik+ subp>agraph 7,b7 & ins]t+ clause 7ii72 7,b7 by /rik+ ,?is subsection 9 p>agraph 7#b7 & ins]t+ ,9 ! case ( a s+le-employ] plan1 ?is subsection2 7,c7 by /rik+ any contribut+ sponsor 9 p>agraph 7#d7 & ins]t+ any plan sponsor ( a multiemploy] plan or any contribut+ sponsor2 7,d7 by r$esignat+ p>agraph 7#d71 z s am5d$1 z p>agraph 7#e72 & 7,e7 by ins]t+ aft] p>agraph 7#c7 ! foll[+ new p>agraph3 7#d7 ,no lat] ?an #fj days prior to an ev5t describ$ 9 p>agraph 7#ac71 7#ad77;,a71 7#ae71 or 7#af7 ( subsection 7c71 ! plan sponsor ( a multiemploy] plan %all notify ! corporation t ! ev5t is ab\t to occur4 4 7c7 ,te*nical corrections 7#a7 ,section #djde7;c77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acde7;c77#a77 is am5d$ by /rik+ #djdc7;b77#g7 & ins]t+ #djdc7;c77#g74 7#b7 ,section #djfe7b7 ( su* ,act 7#bi ,u4,s4,c4 #acfe7b77 is am5d$ by /rik+ #djdc7;b7 & ins]t+ #djdc7;c74 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to reportable ev5ts 7z def9$ 9 section #djdc7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acdc7;c777 occurr+ aft] ! date ( ! enactm5t ( ?is ,act4 ,c ,fund+ notices to p>ticipants 9 multiemploy] plans #cba4 ,improv$ multiemploy] plan disclosure 7a7 ,plan fund+ notices ,section #aja7;f7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajba7;f77 is am5d$-- 7#a7 9 p>agraph 7#b77;,b7-- 7,a7 9 clause 7iv71 by /rik+ sett+ =? & ins]t+ describ+ h[ a p]son may obta9 in=mation reg>d+2 7,b7 by /rik+ clauses 7v7 & 7vi72 7,c7 by r$esignat+ clauses 7vii7 ?r\gh 7xi7 z clauses 7v7 ?r\gh 7ix71 respectively2 7,d7 9 clause 7vi71 z s r$esignat$-- 7i7 by /rik+ 7,i7 9 ! case ( & ins]t+ 9 ! case (2 7ii7 by /rik+ 1 or & ins]t+ a comma2 & 7iii7 by /rik+ subclause 7,,ii72 & 7,e7 by am5d+ clause 7vii71 z s r$esignat$1 to read z foll[s3 7vii7 7,i7 9 ! case ( a s+le-employ] plan1 a g5]al description ( ! b5efits "u ! plan :i* are eligible to be gu>ante$ by ! ,p5sion ,b5efit ,gu>anty ,corporation1 & an explanation ( ! limitations on ! gu>antee & ! circum/ances "u :i* su* limitations apply1 & 7,,ii7 9 ! case ( a multiemploy] plan1 a /atem5t t eligible b5efits are gu>ante$ by ! ,p5sion ,b5efit ,gu>anty ,corporation1 & a /atem5t ( h[ to obta9 bo? a g5]al description ( ! b5efits "u ! plan :i* are eligible to be gu>ante$ by ! ,p5sion ,b5efit ,gu>anty ,corporation & an explanation ( ! limitations on ! gu>antee & ! circum/ances "u :i* su* limitations apply1 2 & 7#b7 9 p>agraph 7#d77;,c7-- 7,a7 by /rik+ 7,c7 may be provid$ & ins]t+ 7,c77i7 subject to clause 7ii71 may be provid$2 7,b7 by /rik+ ! p]iod & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+3 7ii7 9 ! case ( su* a notice provid$ to ! ,p5sion ,b5efit ,gu>anty ,corporation1 %all be 9 an electronic =mat 9 su* mann] prescrib$ 9 regulations ( su* ,corporation4 4 7b7 ,disclosures by plans reg>d+ /atus 7#a7 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #cje7;b77#d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;b77#d771 z r$esignat$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is fur!r am5d$-- 7,a7 9 ! p>agraph head+1 by /rik+ by plan actu>y & ins]t+ & report2 7,b7 by am5d+ subp>agraph 7,a7 to read z foll[s3 7,a7 ,9 g5]al ,n lat] ?an ! #ij? day ( ea* plan ye> ( a multiemploy] plan1 ! plan sponsor %all file1 9 accordance ) regulations prescrib$ by ! ,,erisa ag5cies1 a report t conta9s-- 7i7 docum5tation f ! plan actu>y c]tify+ to ! ,,erisa ag5cies & to ! plan sponsor-- 7,i7 :e!r or n ! plan is 9 unre/rict$ or /able /atus = su* plan ye>1 :e!r or n ! plan is 9 endang]$ /atus = su* plan ye> & :e!r or n ! plan is or w be 9 critical /atus = su* plan ye> or any ( ! #e succe$+ plan ye>s1 7,,ii7 9 ! case ( a plan :i* is 9 a fund+ improvem5t or rehabilitation p]iod1 :e!r or n ! plan is mak+ ! s*$ul$ progress 9 meet+ ! requirem5ts ( its fund+ improvem5t or rehabilitation plan &1 if n1 a summ>y ( ! prim>y reasons ! plan is n mak+ ! s*$ul$ progress1 7,,iii7 ! fund$ p]c5tage ( ! plan det]m9$ z ( ! fir/ day ( ! curr5t plan ye> & ! value ( assets & liabilities us$ to calculate su* fund$ p]c5tage1 7,,iv7 a projection ( ! fund+ /&>d acc\nt on a ye>-by-ye> basis = ! curr5t plan ye> & ! #ad succe$+ plan ye>s & a /atem5t ( ! actu>ial assumptions = su* projections1 & 7,v7 7aa7 subject to item 7bb71 a projection ( ! ca% fl[ ( ! plan & actu>ial assumptions = ! curr5t plan ye> & #ad succe$+ plan ye>s1 & 7bb7 9 ! case 9 :i* x is c]tifi$ t a multiemploy] plan is or w be 9 endang]$ or critical /atus = a plan ye>1 ! projection ( ! ca% fl[ ( ! plan & actu>ial assumptions = ! curr5t ye> & #bi succe$+ plan ye>s1 7ii7 z ( ! la/ day ( ! prior plan ye>1 a good fai? det]m9ation (-- 7,i7 ! fair m>ket value ( ! assets ( ! plan1 7,,ii7 ! numb] ( p>ticipants :o are-- 7aa7 retir$ or sep>at$ f s]vice & are receiv+ b5efits1 7bb7 retir$ or sep>at$ p>ticipants entitl$ to future b5efits1 & 7cc7 active p>ticipants "u ! plan1 7,,iii7 ! total value ( all b5efits paid dur+ ! prior plan ye>1 7,,iv7 ! total value ( all contributions & )drawal liability paym5ts made to ! plan dur+ ! prior plan ye>1 & 7,v7 ! total value ( all inve/m5t ga9s or losses dur+ ! prior plan ye>1 7iii7 a description ( any mat]ial *anges dur+ ! previ\s plan ye> to ! rates at :i* p>ticipants accrue b5efits or ! rate at :i* employ]s contribute1 7iv7 a copy ( any fund+ improvem5t plan or rehabilitation plan1 & any update !reto or modification !re(1 t 0 adopt$ "u ?is section prior to ! fil+ ( ! report = ! curr5t plan ye> 9 accordance ) ?is subp>agraph &1 if applicable1 aft] ! fil+ ( ! report requir$ by ?is subp>agraph = ! prior plan ye>1 7v7 9 ! case ( any plan am5dm5t1 s*$ul$ b5efit increase or r$uction1 or o!r kn[n ev5t tak+ effect 9 ! curr5t plan ye> & hav+ a mat]ial effect on plan liabilities or assets = ! ye> 7z def9$ 9 regulations by ! ,,erisa ag5cies71 an explanation ( ! am5dm5t1 s*$ul$ increase or r$uction1 or ev5t1 & a projection to ! end ( su* plan ye> ( ! effect ( ! am5dm5t1 s*$ul$ increase or r$uction1 or ev5t on plan liabilities1 7vi7 9 ! case ( a multiemploy] plan c]tifi$ to be 9 critical /atus = :i* ! plan sponsor has det]m9$ t1 bas$ on reasonable actu>ial assumptions & ^u exhau/ion ( all reasonable measures1 ! plan _c reasonably be expect$ to em]ge f critical /atus by ! end ( ! rehabilitation p]iod1 a description ( all reasonable measures1 :e!r or n su* measures 7 implem5t$1 & a summ>y ( ! consid]ation ( su* measures1 7vii7 a /atem5t1 conta9+ ! in=mation available to ! plan sponsor1 describ+-- 7,i7 ! )drawal ( any employ] dur+ ! prior plan ye> & ! p]c5tage ( total contributions made by t employ] dur+ ! prior plan ye>1 7,,ii7 any mat]ial r$uction 9 total contributions or )drawal liability paym5ts ( any employ]s & ! reason = su* r$uction1 & a comp>ison to contributions project$ previ\sly1 7,,iii7 any mat]ial r$uction 9 ! numb] ( active plan p>ticipants & ! reason = su* r$uction1 & 7,,iv7 ! annual )drawal liability paym5t ea* )drawn employ] is obligat$ to pay to ! plan = ! plan ye>1 :e!r t am\nt 0 collect$ by ! plan 7& if n1 ! am\nt t 0 collect$71 & ! rema9+ ye>s on ! employ]'s obligation to make )drawal liability paym5ts1 & 7viii7 su* o!r in=mation z may be requir$ by ! ,,erisa ag5cies by regulation4 2 7,c7 by /rik+ subp>agraph 7,c7 & ins]t+ ! foll[+3 7,c7 ,=m & mann] ,! report requir$ by subp>agraph 7,a7 %all be fil$ electronically 9 accordance ) regulations prescrib$ by ! ,,erisa ag5cies4 2 7,d7 9 subp>agraph 7,d7-- 7i7 by r$esignat+ clauses 7ii71 7iii71 7iv71 & 7v7 z clauses 7iii71 7iv71 7v71 & 7vi71 respectively2 7ii7 by ins]t+ aft] clause 7i7 ! foll[+3 7ii7 ,plans 9 endang]$ or critical /atus ,if x is c]tifi$ "u subp>agraph 7,a7 t a multiemploy] plan is or w be 9 endang]$ or critical /atus1 ! plan sponsor %all include 9 ! notice "u clause 7i7-- 7,i7 a /atem5t describ+ h[ a p]son may obta9 a copy ( ! plan's fund+ improvem5t or rehabilitation plan1 z appropriate1 adopt$ "u ?is section & ! actu>ial & f9ancial data t demon/rate any action tak5 by ! plan t[>d fiscal improvem5t1 7,,ii7 a summ>y ( any fund+ improvem5t or rehabilitation plan1 & any update !reto or modification !re(1 adopt$ "u ?is section prior to ! furni%+ ( su* notice1 7,,iii7 a summ>y ( ! rules gov]n+ insolv5cy1 includ+ ! limitations on b5efit paym5ts1 & 7,,iv7 a g5]al description ( ! b5efits "u ! plan :i* are eligible to be gu>ante$ by ! ,p5sion ,b5efit ,gu>anty ,corporation & an explanation ( ! limitations on ! gu>antee & ! circum/ances "u :i* su* limitations apply4 2 & 7iii7 9 clause 7v71 z s r$esignat$-- 7,i7 by /rik+ ,! ,secret>y ( ! ,treasury1 9 consultation ) ! ,secret>y & ins]t+ ,! ,,erisa ag5cies2 & 7,,ii7 by /rik+ 7ii7 & 7iii7 & ins]t+ 7ii71 7iii71 & 7iv72 & 7,e7 by add+ at ! end ! foll[+3 7,e7 ,designation & coord9ation ,! ,,erisa ag5cies %all-- 7i7 designate "o ,,erisa ag5cy to receive ! report describ$ 9 subp>agraph 7,a7 on behalf ( all ! ,,erisa ag5cies1 :i* %all ea* h full access to su* report2 & 7ii7 consult ) ea* o!r & develop rules1 regulations1 practices1 & =ms1 :i* to ! ext5t appropriate = ! effici5t adm9i/ration ( ! provisions ( ?is p>agraph are design$ to replace duplication ( ef=t1 duplication ( report+1 conflict+ or ov]lapp+ requirem5ts1 & ! burd5 ( compliance ) su* provisions by plan adm9i/rators & plan sponsors4 7,f7 ,,erisa ag5cies ,9 ?is p>agraph1 ! t]m ,,erisa ag5cies means ! ,secret>y1 ! ,secret>y ( ! ,treasury1 & ! ,p5sion ,b5efit ,gu>anty ,corporation4 4 7#b7 ,am5dm5ts to #aihf ,code ,section #dcb7;b77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is fur!r am5d$-- 7,a7 9 ! p>agraph head+1 by /rik+ by plan actu>y & ins]t+ & report2 7,b7 by am5d+ subp>agraph 7,a7 to read z foll[s3 7,a7 ,9 g5]al ,n lat] ?an ! #ij? day ( ea* plan ye> ( a multiemploy] plan1 ! plan sponsor %all file1 9 accordance ) regulations prescrib$ by ! ,,erisa ag5cies1 a report t conta9s-- 7i7 docum5tation f ! plan actu>y c]tify+ to ! ,,erisa ag5cies & to ! plan sponsor-- 7,i7 :e!r or n ! plan is 9 unre/rict$ or /able /atus = su* plan ye>1 :e!r or n ! plan is 9 endang]$ /atus = su* plan ye> & :e!r or n ! plan is or w be 9 critical /atus = su* plan ye> or any ( ! #e succe$+ plan ye>s1 7,,ii7 9 ! case ( a plan :i* is 9 a fund+ improvem5t or rehabilitation p]iod1 :e!r or n ! plan is mak+ ! s*$ul$ progress 9 meet+ ! requirem5ts ( its fund+ improvem5t or rehabilitation plan &1 if n1 a summ>y ( ! prim>y reasons ! plan is n mak+ ! s*$ul$ progress1 7,,iii7 ! fund$ p]c5tage ( ! plan det]m9$ z ( ! fir/ day ( ! curr5t plan ye> & ! value ( assets & liabilities us$ to calculate su* fund$ p]c5tage1 7,,iv7 a projection ( ! fund+ /&>d acc\nt on a ye>-by-ye> basis = ! curr5t plan ye> & ! #ad succe$+ plan ye>s & a /atem5t ( ! actu>ial assumptions = su* projections1 & 7,v7 7aa7 subject to item 7bb71 a projection ( ! ca% fl[ ( ! plan & actu>ial assumptions = ! curr5t plan ye> & #ad succe$+ plan ye>s1 & 7bb7 9 ! case 9 :i* x is c]tifi$ t a multiemploy] plan is or w be 9 endang]$ or critical /atus = a plan ye>1 ! projection ( ! ca% fl[ ( ! plan & actu>ial assumptions = ! curr5t ye> & #bi succe$+ plan ye>s1 7ii7 z ( ! la/ day ( ! prior plan ye>1 a good fai? det]m9ation (-- 7,i7 ! fair m>ket value ( ! assets ( ! plan1 7,,ii7 ! numb] ( p>ticipants :o are-- 7aa7 retir$ or sep>at$ f s]vice & are receiv+ b5efits1 7bb7 retir$ or sep>at$ p>ticipants entitl$ to future b5efits1 & 7cc7 active p>ticipants "u ! plan1 7,,iii7 ! total value ( all b5efits paid dur+ ! prior plan ye>1 7,,iv7 ! total value ( all contributions & )drawal liability paym5ts made to ! plan dur+ ! prior plan ye>1 & 7,v7 ! total value ( all inve/m5t ga9s or losses dur+ ! prior plan ye>1 7iii7 a description ( any mat]ial *anges dur+ ! previ\s plan ye> to ! rates at :i* p>ticipants accrue b5efits or ! rate at :i* employ]s contribute1 7iv7 a copy ( any fund+ improvem5t plan or rehabilitation plan1 & any update !reto or modification !re(1 t 0 adopt$ "u ?is section prior to ! fil+ ( ! report = ! curr5t plan ye> 9 accordance ) ?is subp>agraph &1 if applicable1 aft] ! fil+ ( ! report requir$ by ?is subp>agraph = ! prior plan ye>1 7v7 9 ! case ( any plan am5dm5t1 s*$ul$ b5efit increase or r$uction1 or o!r kn[n ev5t tak+ effect 9 ! curr5t plan ye> & hav+ a mat]ial effect on plan liabilities or assets = ! ye> 7z def9$ 9 regulations by ! ,,erisa ag5cies71 an explanation ( ! am5dm5t1 s*$ul$ increase or r$uction1 or ev5t1 & a projection to ! end ( su* plan ye> ( ! effect ( ! am5dm5t1 s*$ul$ increase or r$uction1 or ev5t on plan liabilities1 7vi7 9 ! case ( a multiemploy] plan c]tifi$ to be 9 critical /atus = :i* ! plan sponsor has det]m9$ t1 bas$ on reasonable actu>ial assumptions & ^u exhau/ion ( all reasonable measures1 ! plan _c reasonably be expect$ to em]ge f critical /atus by ! end ( ! rehabilitation p]iod1 a description ( all reasonable measures1 :e!r or n su* measures 7 implem5t$1 & a summ>y ( ! consid]ation ( su* measures1 7vii7 a /atem5t1 conta9+ ! in=mation available to ! plan sponsor1 describ+-- 7,i7 ! )drawal ( any employ] dur+ ! prior plan ye> & ! p]c5tage ( total contributions made by t employ] dur+ ! prior plan ye>1 & a comp>ison to contributions project$ previ\sly1 7,,ii7 any mat]ial r$uction 9 total contributions or )drawal liability paym5ts ( any employ]s & ! reason = su* r$uction1 7,,iii7 any mat]ial r$uction 9 ! numb] ( active plan p>ticipants & ! reason = su* r$uction1 & 7,,iv7 ! annual )drawal liability paym5t ea* )drawn employ] is obligat$ to pay to ! plan = ! plan ye>1 :e!r t am\nt 0 collect$ by ! plan 7& if n1 ! am\nt t 0 collect$71 & ! rema9+ ye>s on ! employ]'s obligation to make )drawal liability paym5ts1 & 7viii7 su* o!r in=mation z may be requir$ by ! ,,erisa ag5cies by regulation4 2 7,c7 by /rik+ subp>agraph 7,c7 & ins]t+ ! foll[+3 7,c7 ,=m & mann] ,! report requir$ by subp>agraph 7,a7 %all be fil$ electronically 9 accordance ) regulations prescrib$ by ! ,,erisa ag5cies4 2 7,d7 9 subp>agraph 7,d7-- 7i7 by r$esignat+ clauses 7ii71 7iii71 7iv71 & 7v7 z clauses 7iii71 7iv71 7v71 & 7vi71 respectively2 7ii7 by ins]t+ aft] clause 7i7 ! foll[+3 7ii7 ,plans 9 endang]$ or critical /atus ,if x is c]tifi$ "u subp>agraph 7,a7 t a multiemploy] plan is or w be 9 endang]$ or critical /atus1 ! plan sponsor %all include 9 ! notice "u clause 7i7-- 7,i7 a /atem5t describ+ h[ a p]son may obta9 a copy ( ! plan's fund+ improvem5t or rehabilitation plan1 z appropriate1 adopt$ "u ?is section & ! actu>ial & f9ancial data t demon/rate any action tak5 by ! plan t[>d fiscal improvem5t1 7,,ii7 a summ>y ( any fund+ improvem5t or rehabilitation plan1 & any update !reto or modification !re(1 adopt$ "u ?is section prior to ! furni%+ ( su* notice1 7,,iii7 a summ>y ( ! rules gov]n+ insolv5cy1 includ+ ! limitations on b5efit paym5ts1 & 7,,iv7 a g5]al description ( ! b5efits "u ! plan :i* are eligible to be gu>ante$ by ! ,p5sion ,b5efit ,gu>anty ,corporation & an explanation ( ! limitations on ! gu>antee & ! circum/ances "u :i* su* limitations apply4 2 & 7iii7 9 clause 7v71 z s r$esignat$-- 7,i7 by /rik+ ,! ,secret>y ( ! ,treasury1 9 consultation ) ! ,secret>y & ins]t+ ,! ,,erisa ag5cies2 & 7,,ii7 by /rik+ 7ii7 & 7iii7 & ins]t+ 7ii71 7iii71 & 7iv72 & 7,e7 by add+ at ! end ! foll[+3 7,e7 ,designation & coord9ation ,! ,,erisa ag5cies %all-- 7i7 designate "o ,,erisa ag5cy to receive ! report describ$ 9 subp>agraph 7,a7 on behalf ( all ! ,,erisa ag5cies1 :i* %all ea* h full access to su* report2 & 7ii7 consult ) ea* o!r & develop rules1 regulations1 practices1 & =ms1 :i* to ! ext5t appropriate = ! effici5t adm9i/ration ( ! provisions ( ?is p>agraph are design$ to replace duplication ( ef=t1 duplication ( report+1 conflict+ or ov]lapp+ requirem5ts1 & ! burd5 ( compliance ) su* provisions by plan adm9i/rators & plan sponsors4 7,f7 ,,erisa ag5cies ,9 ?is p>agraph1 ! t]m ,,erisa ag5cies means ! ,secret>y1 ! ,secret>y ( ,labor1 & ! ,p5sion ,b5efit ,gu>anty ,corporation4 4 7#c7 ,inve/igations ,section #djjc ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjc7 is am5d$ by add+ at ! end ! foll[+3 7g7 ,! corporation may inve/igate or review any facts1 conditions1 practices1 or o!r matt]s x det]m9es necess>y or prop] relat$ to ! actu>ial c]tification & report by multiemploy] plans "u section #cje7;b77#d77;,a71 or to obta9 su* in=mation z any duly au?oriz$ committee or subcommittee ( ! ,congress may reque/ ) respect to su* plans4 ,any in=mation or docum5t>y mat]ial submitt$ to ! corporation pursuant to ?is section1 if cle>ly designat$ by ! p]son mak+ ! submission z confid5tial 7on ea* page 9 ! case ( a docum5t1 & 9 ! file "n 9 ! case ( a digital file71 %all be exempt f disclosure "u section #eeb ( title #e1 ,unit$ ,/ates ,code1 & no su* in=mation or docum5t>y mat]ial may be made public1 except z may be relevant to any adm9i/rative or judicial action or proce$+1 includ+ an in=mal rulemak+4 4 #cbb4 ,p5alties = failure to provide notices 7a7 ,9 g5]al ,section #ejb7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #aacb7 is am5d$-- 7#a7 9 p>agraph 7#g7-- 7,a7 by /rik+ 7#g7 ,! ,secret>y & ins]t+ 7#g77;,a7 ,! ,secret>y2 & 7,b7 by add+ at ! end ! foll[+3 7,b7 ,! ,secret>y may assess a civil p5alty aga9/ a plan sponsor ( up to #aaj p] day f ! date ( ! plan adm9i/rator's or sponsor's failure or refusal to provide ! relevant notices "u section #aja7;f7 or section #cje7;b77#d77;,d7 to a recipi5t o!r ?an ! ,secret>y or ! ,p5sion ,b5efit ,gu>anty ,corporation4 ,= purposes ( ?is p>agraph1 ea* violation ) respect to any s+le recipi5t %all be treat$ z a sep>ate violation4 2 & 7#b7 by add+ at ! end ! foll[+3 7#ac7 7,a7 ,! ,secret>y may assess a civil p5alty aga9/ any plan sponsor ( up to #b1adj p] day f ! date ( ! plan sponsor's failure to file ) ! ,secret>y or ! ,p5sion ,b5efit ,gu>anty ,corporation ! notice requir$ "u section #cje7;b77#d77;,d7 or ) ! ,p5sion ,b5efit ,gu>anty ,corporation ! notice requir$ "u section #aja7;f74 7,b7 ,! ,secret>y may assess a civil p5alty aga9/ any plan sponsor ( up to #a1ajj p] day f ! date ( ! plan sponsor's failure to file ) ! ,,erisa ag5cy designat$ 9 accordance ) subp>agraph 7,e7 ( section #cje7;b77#d7 ! report "u subp>agraph 7,a7 ( su* section4 4 7b7 ,con=m+ am5dm5t ,section #ejb7;a77#f7 ( su* ,act is am5d$ by /rik+ or 7#i7 & ins]t+ 7#i71 7#aj71 or 7#ac74 ,d ,consi/5cy ( crim9al p5alties #cca4 ,consi/5cy ( crim9al p5alties ,"p ,i ( title #ah1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 9 section #ffd1 9 ! fir/ undesignat$ p>agraph1 by /rik+ five ye>s & ins]t+ #aj ye>s2 7#b7 9 section #ajbg1 by /rik+ five ye>s & ins]t+ #aj ye>s2 & 7#c7 9 section #aied1 9 ! undesignat$ matt] foll[+ p>agraph 7#d71 by /rik+ ?ree ye>s & ins]t+ #aj ye>s4 ,,iv ,o!r multiemploy] plan re=ms #dja4 ,cl>ification ( fiduci>y duty ( retiree repres5tative :o is a tru/ee 7a7 ,am5dm5t ( ,int]nal ,rev5ue ,code ( #aihf ,subclause 7,,iii7 ( section #dcb7;f77#i77;,b77v7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is am5d$ by /rik+ ! p]iod & ins]t+ 1 or to any o!r duties p]=m$ by su* p]son pursuant to su* p]son's role z a plan tru/ee44 7b7 ,am5dm5t ( ,employee ,retirem5t ,income ,security ,act ( #aigd ,subclause 7,,iii7 ( section #cje7;f77#i77;,b77v7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,b77v771 z r$esignat$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is am5d$ by /rik+ ! p]iod & ins]t+ 1 or to any o!r duties p]=m$ by su* p]son pursuant to su* p]son's role z a plan tru/ee44 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect on ! date ( ! enactm5t ( ?is ,act4 #djb4 ,safe h>bors 7a7 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf 7#a7 ,equitable di/ribution ( b5efit susp5sions ,clause 7vi7 ( section #dcb7;f77#i77;,d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is am5d$ by add+ at ! end ! foll[+ flu% language3 ,= purposes ( ! prec$+ s5t5ce1 a susp5sion ( b5efits 9 ! =m ( a flat p]c5tage r$uction 9 b5efits :i* is appli$ 9 ! same mann] to all p>ticipants & b5efici>ies 7be=e application ( clauses 7ii7 & 7iii77 %all be treat$ z be+ equitably di/ribut$ across ! p>ticipant & b5efici>y population4 4 7#b7 ,application assumptions ,clause 7v7 ( section #dcb7;f77#i77;,g7 ( su* ,code1 z s r$esignat$ & 9 effect1 is am5d$-- 7,a7 by /rik+ ,/&>d = accept+ 9 ! head+ & ins]t+ ,/&>ds = assumptions & accept+1 & 7,b7 by /rik+ ,9 evaluat+ & ins]t+ ,! ,secret>y1 9 consultation ) ! ,p5sion ,b5efit ,gu>anty ,corporation & ! ,secret>y ( ,labor1 %all promulgate regulations reg>d+ ! actu>ial assumptions t plans may use = purposes ( ! application "u ?is subp>agraph4 ,su* regulations %all create safe h>bors reg>d+ assumptions = future rate ( inve/m5t returns1 future indu/ry activity & contribution base units1 mortality1 & o!r assumptions z det]m9$ by ! ,secret>y1 & %all describe ! situations 9 :i* actu>ial assumptions may *ange dur+ review ( an application )\t ! )drawal & resubmission ( ! application4 ,9 evaluat+4 7b7 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd 7#a7 ,equitable di/ribution ( b5efit susp5sions ,clause 7vi7 ( section #cje7;f77#i77;,d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,d771 z r$esignat$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is am5d$ by add+ at ! end ! foll[+ flu% language3 ,= purposes ( ! prec$+ s5t5ce1 a susp5sion ( b5efits 9 ! =m ( a flat p]c5tage r$uction 9 b5efits :i* is appli$ 9 ! same mann] to all p>ticipants & b5efici>ies 7be=e application ( clauses 7ii7 & 7iii77 %all be treat$ z be+ equitably di/ribut$ across ! p>ticipant & b5efici>y population4 4 7#b7 ,application assumptions ,clause 7v7 ( section #cje7;f77#i77;,g7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,g771 z s r$esignat$ & 9 effect1 is am5d$-- 7,a7 by /rik+ ,/&>d = accept+ 9 ! head+ & ins]t+ ,/&>ds = assumptions & accept+1 & 7,b7 by /rik+ ,9 evaluat+ & ins]t+ ,! ,secret>y ( ! ,treasury1 9 consultation ) ! ,p5sion ,b5efit ,gu>anty ,corporation & ! ,secret>y ( ,labor1 %all promulgate regulations reg>d+ ! actu>ial assumptions t plans may use = purposes ( ! application "u ?is subp>agraph4 ,su* regulations %all create safe h>bors reg>d+ assumptions = future rate ( inve/m5t returns1 future indu/ry activity & contribution base units1 mortality1 & o!r assumptions z det]m9$ by ! ,secret>y1 & %all describe ! situations 9 :i* actu>ial assumptions may *ange dur+ review ( an application )\t ! )drawal & resubmission ( ! application4 ,9 evaluat+4 7c7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by subsections 7a77#a7 & 7b77#a7 %all apply to susp5sions ( b5efits tak+ effect aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,applications ,! am5dm5ts made by subsections 7a77#b7 & 7b77#b7 %all apply to applications submitt$ aft] ! date ( ! enactm5t ( ?is ,act4 #djc4 ,cl>ification ( notice & comm5t process 7a7 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf 7#a7 ,notice to p>ticipants ,subp>agraph 7,f7 ( section #dcb7;f77#i7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is am5d$ by add+ at ! end ! foll[+ new clause3 7vi7 ,de m9imis *anges ,notice "u clause 7i7 is n requir$ 9 ! case ( a *ange to a notice previ\sly issu$1 & an application previ\sly submitt$ "u subp>agraph 7,g71 if su* *ange w\ld h a de m9imis effect on ! susp5sion ( b5efits propos$1 su* z a *ange ( #e p]c5t or less 7:e!r increase or decrease7 ( a p>ticipant's po/-susp5sion b5efits4 4 7#b7 ,solicitation ( comm5ts 7,a7 ,de m9imis *anges ,clause 7ii7 ( section #dcb7;f77#i77;,g7 ( su* ,code1 z s r$esignat$ & 9 effect1 is am5d$ by add+ at ! end ! foll[+3 ,! prec$+ s5t5ces %all n apply 9 ! case ( a resubmission ( an application previ\sly submitt$ if su* *ange w\ld h a de m9imis effect on ! susp5sion ( b5efits propos$44 7,b7 ,ext5sion ( p]iod = correction ( defect ,clause 7iii7 ( section #dcb7;f77#i77;,g7 ( su* ,code1 z s r$esignat$ & 9 effect1 is am5d$ by ins]t+ aft] ! second s5t5ce ! foll[+3 ,if ! only failure ) respect to an application is a failure to provide adequate notice to p>ticipants "u subp>agraph 7,f71 ! ,secret>y may ext5d ! #bbe-;day deadl9e = consid]ation ( ! application by notice to ! plan sponsor44 7b7 ,am5dm5ts to ,employee ,retirem5t ,income ,security ,act ( #aigd 7#a7 ,notice to p>ticipants ,subp>agraph 7,f7 ( section #cje7;f77#i7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;f77#i771 z r$esignat$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is am5d$ by add+ at ! end ! foll[+ new clause3 7vi7 ,de m9imis *anges ,notice "u clause 7i7 is n requir$ 9 ! case ( a *ange to a notice previ\sly issu$1 & an application previ\sly submitt$ "u subp>agraph 7,g71 if su* *ange w\ld h a de m9imis effect on ! susp5sion ( b5efits propos$1 su* z a *ange ( #e p]c5t or less 7:e!r increase or decrease7 ( a p>ticipant's po/-susp5sion b5efits4 4 7#b7 ,solicitation ( comm5ts 7,a7 ,de m9imis *anges ,clause 7ii7 ( section #cje7;f77#i77;,g7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,g771 z s r$esignat$ & 9 effect1 is am5d$ by add+ at ! end ! foll[+3 ,! prec$+ s5t5ces %all n apply 9 ! case ( a resubmission ( an application previ\sly submitt$ if su* *ange w\ld h a de m9imis effect on ! susp5sion ( b5efits propos$44 7,b7 ,ext5sion ( p]iod = correction ( defect ,clause 7iii7 ( section #cje7;f77#i77;,g7 ( su* ,act 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,g771 z s r$esignat$ & 9 effect1 is am5d$ by ins]t+ aft] ! second s5t5ce ! foll[+3 ,if ! only failure ) respect to an application is a failure to provide adequate notice to p>ticipants "u subp>agraph 7,f71 ! ,secret>y may ext5d ! #bbe-;day deadl9e = consid]ation ( ! application by notice to ! plan sponsor44 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to applications1 or *anges to applications1 submitt$ aft] ! date ( ! enactm5t ( ?is ,act4 #djd4 ,protection ( p>ticipants receiv+ disability b5efits 7a7 ,am5dm5t to ,int]nal ,rev5ue ,code ( #aihf ,clause 7iii7 ( section #dcb7;f77#i77;,d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is am5d$ to read z foll[s3 7iii7 ,no b5efits bas$ on disability 7z def9$ "u ! plan7 may be susp5d$ "u ?is p>agraph if ! p>ticipant or b5efici>y is disabl$ 7z s def9$7 or receiv+ disability b5efits "u ! plan z ( ! date ( ! susp5sion ( b5efits4 ,no b5efits "u ! plan may be susp5d$ "u ?is p>agraph ( any p>ticipant or b5efici>y :o is entitl$ to a b5efit "u title ,,ii ( ! ,social ,security ,act on ! basis ( a disability 7z def9$ 9 section #bbc7;d77#b7 ( su* ,act7 z ( su* date4 4 7b7 ,am5dm5t to ,employee ,retirem5t ,income ,security ,act ( #aigd ,clause 7iii7 ( section #cje7;f77#i77;,d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;f77#i77;,d771 z r$esignat$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is am5d$ to read z foll[s3 7iii7 ,no b5efits bas$ on disability 7z def9$ "u ! plan7 may be susp5d$ "u ?is p>agraph if ! p>ticipant or b5efici>y is disabl$ 7z s def9$7 or receiv+ disability b5efits "u ! plan z ( ! date ( ! susp5sion ( b5efits4 ,no b5efits "u ! plan may be susp5d$ "u ?is p>agraph ( any p>ticipant or b5efici>y :o is entitl$ to a b5efit "u title ,,ii ( ! ,social ,security ,act on ! basis ( a disability 7z def9$ 9 section #bbc7;d77#b7 ( su* ,act7 z ( su* date4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to susp5sions ( b5efits tak+ effect aft] ! date ( ! enactm5t ( ?is ,act4 #dje4 ,model notice ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ! ,treasury1 9 consultation ) ! ,secret>y ( ,labor & ! ,p5sion ,b5efit ,gu>anty ,corporation1 %all develop a #a-page1 pla9-language1 cov]-page =mat = ! model notice "u section #dcb7;e77#i77;,f77v7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ?is ,act7 & section #cje7;e77#i77;,f77v7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe7;e77#i77;,f77v771 z s 9 effect4 ,v ,alt]native plan /ructures #eja4 ,composite plans 7a7 ,am5dm5t to ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#a7 ,9 g5]al ,title ,i ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajja et seq47 is am5d$ by add+ at ! end ! foll[+3 #h ,composite ,plans & ,legacy ,plans #hja4 ,composite plan def9$ 7a7 ,9 g5]al ,= purposes ( ?is ,act1 ! t]m composite plan means a p5sion plan-- 7#a7 :i* is a multiemploy] plan t is nei!r a def9$ b5efit plan nor a def9$ contribution plan2 7#b7 ! t]ms ( :i* provide t ! plan is a composite plan = purposes ( ?is title ) respect to :i* n m ?an "o multiemploy] def9$ b5efit plan is treat$ z a legacy plan )9 ! mean+ ( section #hje1 unless !re is m ?an "o legacy plan foll[+ a m]g] ( composite plans "u section #hjf2 7#c7 :i* provides sy/ematically = ! paym5t ( b5efits-- 7,a7 objectively calculat$ pursuant to a nondiscretion>y =mula specifi$ 9 ! plan docum5t ) respect to plan p>ticipants = life2 & 7,b7 9 ! =m ( life annuities1 except = b5efits :i* "u section #bjc7;e7 may be imm$iately di/ribut$ )\t ! cons5t ( ! p>ticipant2 7#d7 = :i* ! anticipat$ employ] contributions to ! plan = ! fir/ plan ye> are at lea/ #abj p]c5t ( ! normal co/ = ! plan ye>2 7#e7 :i* requires-- 7,a7 an annual valuation ( ! liability ( ! plan z ( a date )9 ! plan ye> to :i* ! valuation ref]s or )9 "o mon? prior to ! beg9n+ ( su* ye>2 7,b7 an annual actu>ial det]m9ation ( ! plan's curr5t fund$ ratio & project$ fund$ ratio "u section #hjb7;a72 7,c7 corrective action ?r\gh a realignm5t program pursuant to section #hjc :5ev] ! plan's project$ fund$ ratio is bel[ #abj p]c5t = ! plan ye>2 & 7,d7 an annual notification to ea* p>ticipant describ+ b5efits "u ! plan & expla9+ t su* b5efits may be subject to r$uction "u a realignm5t program pursuant to section #hjc bas$ on ! plan's fund$ /atus 9 future plan ye>s2 & 7#f7 ! bo>d ( tru/ees ( :i* includes at lea/ "o retiree or b5efici>y 9 pay /atus dur+ ea* plan ye> foll[+ ! fir/ plan ye> 9 :i* at lea/ #e p]c5t ( ! p>ticipants 9 ! plan are retirees or b5efici>ies 9 pay /atus4 7b7 ,transition f a multiemploy] def9$ b5efit plan 7#a7 ,9 g5]al ,! plan sponsor ( a def9$ b5efit plan t is a multiemploy] plan may1 subject to p>agraph 7#b71 am5d ! plan to incorporate ! features ( a composite plan z a compon5t ( ! multiemploy] plan sep>ate f ! def9$ b5efit plan compon5t1 except 9 ! case ( a def9$ b5efit plan = :i* ! plan actu>y has c]tifi$ "u section #cje7;b77#d7 t ! plan is or w be 9 endang]$ or critical /atus = ! plan ye> 9 :i* su* am5dm5t w\ld become effective or 9 endang]$ or critical /atus = any ( ! succe$+ #e plan ye>s4 7#b7 ,requirem5ts ,any am5dm5t pursuant to p>agraph 7#a7 to incorporate ! features ( a composite plan z a compon5t ( a multiemploy] plan %all-- 7,a7 apply ) respect to all collective b>ga9+ agreem5ts provid+ = contributions to ! multiemploy] plan on or aft] ! effective date ( ! am5dm5t2 7,b7 apply ) respect to all p>ticipants 9 ! multiemploy] plan = :om contributions are made to ! multiemploy] plan on or aft] ! effective date ( ! am5dm5t2 7,c7 specify t ! effective date ( ! am5dm5t is-- 7i7 ! fir/ day ( a specifi$ plan ye> foll[+ ! date ( ! adoption ( ! am5dm5t1 except t ! plan sponsor may alt]natively provide = a sep>ate effective date ) respect to ea* collective b>ga9+ agreem5t "u :i* contributions to ! multiemploy] plan are requir$1 :i* %all occur on ! fir/ day ( ! fir/ plan ye> beg9n+ aft] ! t]m9ation1 or if e>li]1 ! re-op5+1 ( ea* su* agreem5t1 or su* e>li] date z ! p>ties to ! agreem5t & ! plan sponsor ( ! multiemploy] plan %all agree to2 & 7ii7 n lat] ?an ! fir/ day ( ! fif? plan ye> beg9n+ on or aft] ! date ( ! adoption ( ! am5dm5t2 7,d7 specify t1 z ( ! am5dm5t's effective date1 no fur!r b5efits %all accrue "u ! def9$ b5efit compon5t ( ! multiemploy] plan2 & 7,e7 specify t1 z ( ! am5dm5t's effective date1 ! plan sponsor ( ! multiemploy] plan %all be ! plan sponsor ( bo? ! composite plan compon5t & ! def9$ b5efit plan compon5t ( ! plan4 7#c7 ,special rules ,if a multiemploy] plan is am5d$ pursuant to p>agraph 7#a7-- 7,a7 ! requirem5ts ( ?is title & title ,,iv %all be appli$ to ! composite plan compon5t & ! def9$ b5efit plan compon5t ( ! multiemploy] plan z if ea* su* compon5t 7 ma9ta9$ z a sep>ate plan2 & 7,b7 ! assets ( ! composite plan compon5t & ! def9$ b5efit plan compon5t ( ! plan %all be held 9 a s+le tru/ =m+ "p ( ! plan "u :i* ! tru/ in/rum5t expressly provides-- 7i7 = sep>ate acc\nts 7& appropriate records7 to be ma9ta9$ to reflect ! int]e/ :i* ea* ( ! plan compon5ts has 9 ! tru/1 includ+ sep>ate acc\nt+ = additions to ! tru/ = ! b5efit ( ea* plan compon5t1 disbursem5ts made f ea* plan compon5t's acc\nt 9 ! tru/1 inve/m5t exp]i5ce ( ! tru/ allocable to t acc\nt1 & adm9i/rative exp5ses 7:e!r direct exp5ses or %>$ exp5ses allocat$ proportionally71 & p]mits1 b does n require1 ! pool+ ( "s or all ( ! assets ( ! two plan compon5ts = inve/m5t purposes1 subject to ! judgm5t ( ! plan fiduci>ies2 & 7ii7 t ! assets ( ea* ( ! two plan compon5ts %all be held1 inve/$1 re9ve/$1 manag$1 adm9i/]$ & di/ribut$ = ! exclusive b5efit ( ! p>ticipants & b5efici>ies ( ea* su* plan compon5t1 & 9 no ev5t %all ! assets ( "o ( ! plan compon5ts be available to pay b5efits due "u ! o!r plan compon5t4 7#d7 ,n a t]m9ation ev5t ,not)/&+ section #djda;,a1 an am5dm5t pursuant to p>agraph 7#a7 to incorporate ! features ( a composite plan z a compon5t ( a multiemploy] plan does n con/itute t]m9ation ( ! multiemploy] plan4 7#e7 ,notice to ! ,secret>y 7,a7 ,notice ,! plan sponsor ( a composite plan %all provide notice to ! ,secret>y ( ! int5t to e/abli% ! composite plan 7or1 9 ! case ( a composite plan incorporat$ z a compon5t ( a multiemploy] plan z describ$ 9 p>agraph 7#a71 ! int5t to am5d ! multiemploy] plan to incorporate su* composite plan7 at lea/ #cj days prior to ! effective date ( su* e/abli%m5t or am5dm5t4 7,b7 ,c]tification ,9 ! case ( a composite plan incorporat$ z a compon5t ( a multiemploy] plan z describ$ 9 p>agraph 7#a71 su* notice %all include a c]tification by ! plan actu>y "u section #cje7;b77#d7 t ! effective date ( ! am5dm5t occurs 9 a plan ye> = :i* ! multiemploy] plan is n 9 endang]$ or critical /atus = t plan ye> & any ( ! succe$+ #e plan ye>s4 7#f7 ,ref]5ces to composite plan compon5t ,z us$ 9 ?is "p1 ! t]m composite plan includes a composite plan compon5t add$ to a def9$ b5efit plan pursuant to p>agraph 7#a74 7#g7 ,rule ( con/ruction ,p>agraph 7#b77;,a7 %all n be con/ru$ z prev5t+ ! plan sponsor ( a multiemploy] plan f adopt+ an am5dm5t pursuant to p>agraph 7#a7 because "s collective b>ga9+ agreem5ts are am5d$ to cease any cov]$ employ]'s obligation to contribute to ! multiemploy] plan be=e or aft] ! plan am5dm5t is effective4 ,p>agraph 7#b77;,b7 %all n be con/ru$ z prev5t+ ! plan sponsor ( a multiemploy] plan f adopt+ an am5dm5t pursuant to p>agraph 7#a7 because "s p>ticipants cease to h contributions made to ! multiemploy] plan on _! behalf be=e or aft] ! plan am5dm5t is effective4 7c7 ,coord9ation ) fund+ rules ,except z o!rwise provid$ 9 ?is "p1 sections #cjb1 #cjd1 & #cje %all n apply to a composite plan4 7d7 ,treatm5t ( a composite plan ,= purposes ( ?is ,act 7o!r ?an sections #cjb & #dbde71 a composite plan %all be treat$ z if x 7 a def9$ b5efit plan unless a diff]5t treatm5t is provid$ = "u applicable law4 #hjb4 ,fund$ ratios2 actu>ial assumptions 7a7 ,c]tification ( fund$ ratios 7#a7 ,9 g5]al ,n lat] ?an ! "o-hundr$ tw5tie? day ( ea* plan ye> ( a composite plan1 ! plan actu>y ( ! composite plan %all c]tify to ! ,secret>y1 ! ,secret>y ( ! ,treasury1 & ! plan sponsor ! plan's curr5t fund$ ratio & project$ fund$ ratio = ! plan ye>4 7#b7 ,det]m9ation ( curr5t fund$ ratio & project$ fund$ ratio ,= purposes ( ?is section3 7,a7 ,curr5t fund$ ratio ,! curr5t fund$ ratio is ! ratio 7express$ z a p]c5tage7 (-- 7i7 ! value ( ! plan's assets z ( ! fir/ day ( ! plan ye>2 to 7ii7 ! plan actu>y's calculation ( ! pres5t value ( ! plan liabilities z ( ! fir/ day ( ! plan ye>4 7,b7 ,project$ fund$ ratio ,! project$ fund$ ratio is ! fund$ ratio det]m9$ "u subp>agraph 7,a71 project$ z ( ! fir/ day ( ! fifte5? plan ye> foll[+ ! plan ye> = :i* ! det]m9ation is be+ made4 7#c7 ,consid]ation ( contribution rate increases ,= purposes ( projections "u ?is subsection1 ! plan actu>y may anticipate contribution rate increases beyond ! t]m ( ! curr5t collective b>ga9+ agreem5t & any agre$-to supplem5ts1 if reasonable1 n to exce$ #b4e p]c5t p] ye>1 comp\nd$ annually4 7b7 ,actu>ial assumptions & me?ods ,= purposes ( ?is "p3 7#a7 ,9 g5]al ,all co/s1 liabilities1 rates ( int]e/1 & o!r factors "u ! plan %all be det]m9$ = a plan ye> on ! basis ( actu>ial assumptions & me?ods-- 7,a7 ea* ( :i* is reasonable 7tak+ into acc\nt ! exp]i5ce ( ! plan & reasonable expectations72 7,b7 :i*1 9 comb9ation1 (f] ! actu>y's be/ e/imate ( anticipat$ exp]i5ce "u ! plan2 & 7,c7 ) respect to :i* any *ange f ! actu>ial assumptions & me?ods us$ 9 ! previ\s plan ye> %all be c]tifi$ by ! plan actu>y & ! actu>ial rationale = su* *ange provid$ 9 ! annual report requir$ by section #ajc4 7#b7 ,fair m>ket value ( assets ,! value ( ! plan's assets %all be tak5 into acc\nt on ! basis ( _! fair m>ket value4 7#c7 ,det]m9ation ( normal co/ & plan liabilities ,a plan's normal co/ & liabilities %all be bas$-- 7,a7 on ! mo/ rec5t actu>ial valuation requir$ "u section #hja7;a77#e77;,a7 & ! unit cr$it fund+ me?od2 & 7,b7 on rates ( int]e/ subject to section #cjd7;b77#f74 7#d7 ,"t :5 c]ta9 contributions deem$ made ,any contributions = a plan ye> made by an employ] aft] ! la/ day ( su* plan ye>1 b n lat] ?an #b mon?s aft] su* day1 %all be deem$ to h be5 made on su* la/ day4 ,= purposes ( ?is p>agraph1 su* #b-mon? p]iod may be ext5d$ to a total ( n m ?an #abj days "u regulations prescrib$ by ! ,secret>y ( ! ,treasury4 7#e7 ,additional actu>ial assumptions ,except :]e o!rwise provid$ 9 ?is "p1 ! provisions ( section #cje7;b77#d77;,b7 %all apply to any det]m9ation or projection "u ?is "p4 #hjc4 ,realignm5t program 7a7 ,realignm5t program 7#a7 ,adoption ,9 any case 9 :i* ! plan actu>y c]tifies "u section #hjb7;a7 t ! plan's project$ fund$ ratio is bel[ #abj p]c5t = ! plan ye>1 ! plan sponsor %all adopt a realignm5t program "u p>agraph 7#b7 n lat] ?an #baj days aft] ! due date ( ! c]tification requir$ "u su* section #hjb7;a74 ,! plan sponsor %all adopt an updat$ realignm5t program = ea* succe$+ plan ye> = :i* a c]tification describ$ 9 ! prec$+ s5t5ce is made4 7#b7 ,cont5t ( realignm5t program 7,a7 ,9 g5]al ,a realignm5t program adopt$ "u ?is p>agraph is a writt5 program :i* consi/s ( reasonable measures1 includ+ options or a range ( options to be und]tak5 by ! plan sponsor or propos$ to ! b>ga9+ p>ties1 =mulat$1 bas$ on reasonably anticipat$ exp]i5ce & reasonable actu>ial assumptions1 to enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>4 7,b7 ,initial program elem5ts ,reasonable measures "u a realignm5t program describ$ 9 subp>agraph 7,a7 may include any ( ! foll[+3 7i7 ,propos$ contribution increases4 7ii7 ,a r$uction 9 ! rate ( future b5efit accruals1 s long z ! result+ rate is n less ?an #a p]c5t ( ! contributions on :i* b5efits are bas$ z ( ! />t ( ! plan ye> 7or ! equival5t /&>d accrual rate z describ$ 9 section #cje7;f77#f774 7iii7 ,a modification or elim9ation ( adju/able b5efits ( p>ticipants t are n 9 pay /atus be=e ! date ( ! notice requir$ "u subsection 7b77#a74 7iv7 ,any o!r lawfully available measures n specifically describ$ 9 ?is subp>agraph or subp>agraph 7,c7 or 7,d7 t ! plan sponsor det]m9es are reasonable4 7,c7 ,additional program elem5ts ,if ! plan sponsor has det]m9$ t all reasonable measures available "u subp>agraph 7,b7 w n enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>1 ! realignm5t program may also include-- 7i7 a r$uction ( accru$ b5efits t are n 9 pay /atus by ! date ( ! notice requir$ "u subsection 7b77#a72 or 7ii7 a r$uction ( any b5efits ( p>ticipants t are 9 pay /atus be=e ! date ( ! notice requir$ "u subsection 7b77#a7 o!r ?an core b5efits z def9$ 9 p>agraph 7#d74 7,d7 ,additional elem5ts ,9 ! case ( a composite plan = :i* ! plan sponsor has det]m9$ t all reasonable measures available "u subp>agraphs 7,b7 & 7,c7 w n enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>1 ! realignm5t program may also include-- 7i7 a fur!r r$uction 9 ! rate ( future b5efit accruals )\t reg>d to ! limitation applicable "u subp>agraph 7,b77ii72 or 7ii7 a r$uction ( core b5efits1 provid$ t su* r$uctions %all be equitably di/ribut$ across ! p>ticipant & b5efici>y population1 tak+ into acc\nt factors1 ) respect to p>ticipants & b5efici>ies & _! b5efits1 t may include "o or m ( ! factors li/$ 9 subclauses 7,i7 ?r\gh 7,x7 ( section #cje7;f77#i77;,d77vi71 to ! ext5t necess>y to enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>4 7#c7 ,adju/able b5efit def9$ ,= purposes ( ?is "p1 ! t]m adju/able b5efit means-- 7,a7 b5efits1 rights1 & features "u ! plan1 includ+ po/-retirem5t dea? b5efits1 disability b5efits n yet 9 pay /atus1 & simil> b5efits1 7,b7 any e>ly retirem5t b5efit or retirem5t-type subsidy 7)9 ! mean+ ( section #bjd7;g77#b77;,a77 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 & any b5efit paym5t option 7o!r ?an ! qualifi$ jo9t & survivor annuity71 7,c7 b5efit increases :i* 7 adopt$ 7or1 if lat]1 took effect7 less ?an #abj mon?s be=e ! fir/ day ( ! fir/ plan ye> 9 :i* su* realignm5t program took effect1 7,d7 any "o-"t bonus paym5t or ?irte5? *eck provision1 & 7,e7 b5efits grant$ = p]iod ( s]vice prior to p>ticipation 9 ! plan4 7#d7 ,core b5efit def9$ ,= purposes ( ?is "p1 ! t]m core b5efit means a p>ticipant's accru$ b5efit payable 9 ! normal =m ( an annuity comm5c+ at normal retirem5t age1 det]m9$ )\t reg>d to-- 7,a7 any e>ly retirem5t b5efits1 retirem5t-type subsidies1 or o!r b5efits1 rights1 or features t may be associat$ ) t b5efit2 & 7,b7 any co/-(-liv+ adju/m5ts or b5efit increases effective aft] ! date ( retirem5t4 7#e7 ,coord9ation ) contribution increases 7,a7 ,9 g5]al ,a realignm5t program may provide t "s or all ( ! b5efit modifications describ$ 9 ! program w only take effect if ! b>ga9+ p>ties fail to agree to specifi$ levels ( increases 9 contributions to ! plan1 effective z ( specifi$ dates4 7,b7 ,indep5d5t b5efit modifications ,if a realignm5t program adopts any *anges to ! b5efit =mula t are indep5d5t ( pot5tial contribution increases1 su* *anges %all take effect n lat] ?an #ahj days aft] ! fir/ day ( ! fir/ plan ye> t beg9s foll[+ ! adoption ( ! realignm5t program4 7,c7 ,conditional b5efit modifications ,if a realignm5t program adopts any *anges to ! b5efit =mula t take effect only if ! b>ga9+ p>ties fail to agree to contribution increases1 su* *anges %all take effect n lat] ?an ! fir/ day ( ! fir/ plan ye> beg9n+ aft] ! ?ird anniv]s>y ( ! date ( adoption ( ! realignm5t program4 7,d7 ,revocation ( c]ta9 b5efit modifications ,b5efit modifications describ$ 9 subp>agraph 7,c7 may be revok$1 9 :ole or 9 "p1 & retroactively or prospectively1 :5 contributions to ! plan are increas$1 z specifi$ 9 ! realignm5t program1 includ+ any am5dm5ts !reto4 ,! prec$+ s5t5ce %all n apply unless ! contribution increases are to be effective n lat] ?an ! fif? anniv]s>y ( ! fir/ day ( ! fir/ plan ye> t beg9s aft] ! adoption ( ! realignm5t program4 7b7 ,notice 7#a7 ,9 g5]al ,9 any case 9 :i* x is c]tifi$ "u section #hjb7;a7 t ! project$ fund$ ratio is less ?an #abj p]c5t1 ! plan sponsor %all1 n lat] ?an #cj days aft] ! date ( ! c]tification1 provide notification ( ! curr5t & project$ fund$ ratios to ! p>ticipants & b5efici>ies1 ! b>ga9+ p>ties1 ! ,secret>y ( ! ,treasury1 & ! ,secret>y4 ,su* notice %all include-- 7,a7 an explanation t contribution rate increases or b5efit r$uctions may be necess>y2 7,b7 a description ( ! types ( b5efits t might be r$uc$2 & 7,c7 an e/imate ( ! contribution increases & b5efit r$uctions t may be necess>y to a*ieve a project$ fund$ ratio ( #abj p]c5t4 7#b7 ,notice ( b5efit modifications 7,a7 ,9 ,g5]al ,no modifications may be made t r$uce ! rate ( future b5efit accrual or t r$uce core b5efits or adju/able b5efits unless notice ( su* r$uction has be5 giv5 at lea/ #ahj days be=e ! g5]al effective date ( su* r$uction = all p>ticipants & b5efici>ies to-- 7i7 plan p>ticipants & b5efici>ies2 7ii7 ea* employ] :o has an obligation to contribute to ! composite plan2 & 7iii7 ea* employee organization :i*1 = purposes ( collective b>ga9+1 repres5ts plan p>ticipants employ$ by su* employ]s4 7,b7 ,cont5t ( ,notice ,! notice "u subp>agraph 7,a7 %all conta9-- 7i7 suffici5t in=mation to enable p>ticipants & b5efici>ies to und]/& ! effect ( any r$uction on _! b5efits1 includ+ an illu/ration ( any affect$ b5efit or subsidy1 on an annual or mon?ly basis t a p>ticipant or b5efici>y w\ld o!rwise h be5 eligible = z ( ! g5]al effective date describ$ 9 subp>agraph 7,a72 & 7ii7 in=mation z to ! rights & rem$ies ( plan p>ticipants & b5efici>ies z well z h[ to contact ! ,dep>tm5t ( ! ,treasury = fur!r in=mation & assi/ance1 :]e appropriate4 7,c7 ,=m & ,mann] ,any notice "u subp>agraph 7,a7-- 7i7 %all be provid$ 9 a =m & mann] prescrib$ 9 regulations ( ! ,secret>y ( ! ,treasury2 & 7ii7 %all be writt5 9 a mann] s z to be und]/ood by ! av]age plan p>ticipant4 7#c7 ,model notices ,! ,secret>y ( ! ,treasury %all-- 7,a7 prescribe model notices t ! plan sponsor ( a composite plan may use to satisfy ! notice requirem5ts "u ?is subsection2 & 7,b7 by regulation enum]ate any details relat$ to ! elem5ts li/$ 9 p>agraph 7#a7 t any notice "u ?is subsection mu/ include4 7#d7 ,deliv]y me?od ,any notice "u ?is "p %all be provid$ 9 writ+ & may be provid$ 9 electronic =m to ! ext5t t ! =m is reasonably accessible to p]sons to :om ! notice is provid$4 #hjd4 ,limitation on increas+ b5efits 7a7 ,level ( curr5t fund$ ratios ,except z provid$ 9 subsections 7c71 7d71 & 7e71 no plan am5dm5t increas+ b5efits or e/abli%+ new b5efits "u a composite plan may be adopt$ = a plan ye> unless-- 7#a7 ! plan's curr5t fund$ ratio is at lea/ #aaj p]c5t 7)\t reg>d to ! b5efit increase or new b5efits72 7#b7 tak+ ! b5efit increase or new b5efits into acc\nt1 ! curr5t fund$ ratio is at lea/ #ajj p]c5t & ! project$ fund$ ratio = ! curr5t plan ye> is at lea/ #abj p]c5t2 7#c7 9 any case 9 :i*1 aft] tak+ ! b5efit increase or new b5efits into acc\nt1 ! curr5t fund$ ratio is less ?an #adj p]c5t & ! project$ fund$ ratio is less ?an #adj p]c5t1 ! b5efit increase or new b5efits are project$ by ! plan actu>y to increase ! pres5t value ( ! plan's liabilities = ! plan ye> by n m ?an #c p]c5t2 & 7#d7 expect$ contributions = ! curr5t plan ye> are at lea/ #abj p]c5t ( normal co/ = ! plan ye>1 det]m9$ us+ ! unit cr$it fund+ me?od & treat+ ! b5efit increase or new b5efits z 9 effect = ! entire plan ye>4 7b7 ,additional requirem5ts :]e core b5efits r$uc$ ,if a plan has be5 am5d$ to r$uce core b5efits pursuant to a realignm5t program "u section #hjc7;a77#b77;,d71 su* plan may n be subsequ5tly am5d$ to increase core b5efits unless ! am5dm5t-- 7#a7 increases ! level ( future b5efit paym5ts only2 & 7#b7 provides = an equitable di/ribution ( b5efit increases across ! p>ticipant & b5efici>y population1 tak+ into acc\nt ! ext5t to :i* ! b5efits ( p>ticipants 7 previ\sly r$uc$ pursuant to su* realignm5t program4 7c7 ,exception ,to comply ) applicable law ,subsection 7a7 %all n apply 9 connection ) a plan am5dm5t if ! am5dm5t is requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf or to comply ) o!r applicable law4 7d7 ,exception :]e maximum d$uctible limit applies ,subsection 7a7 %all n apply 9 connection ) a plan am5dm5t if & to ! ext5t t contributions to ! composite plan w\ld n be d$uctible = ! plan ye> "u section #djd7;a77#a77;,e7 ( ! ,int]nal ,rev5ue ,code ( #aihf if ! plan am5dm5t is n adopt$4 7e7 ,exception = c]ta9 b5efit modifications ,subsection 7a7 %all n apply 9 connection ) a plan am5dm5t "u section #hjc7;a77#e77;,c71 reg>d+ conditional b5efit modifications4 7f7 ,treatm5t ( plan am5dm5ts ,= purposes ( ?is section-- 7#a7 if two or m plan am5dm5ts increas+ b5efits or e/abli%+ new b5efits are adopt$ 9 a plan ye>1 su* am5dm5ts %all be treat$ z a s+le am5dm5t adopt$ on ! la/ day ( ! plan ye>2 7#b7 all b5efit increases & new b5efits adopt$ 9 a s+le am5dm5t are treat$ z a s+le b5efit increase1 irrespective ( :e!r ! increases & new b5efits take effect 9 m ?an "o plan ye>2 & 7#c7 increases 9 contributions or decreases 9 plan liabilities :i* are s*$ul$ to take effect 9 future plan ye>s may be tak5 into acc\nt 9 connection ) a plan am5dm5t if !y h be5 agre$ to 9 writ+ or o!rwise =maliz$ by ! date ! plan am5dm5t is adopt$4 #hje4 ,composite plan re/rictions to pres]ve legacy plan fund+ 7a7 ,treatm5t z a legacy plan 7#a7 ,9 g5]al ,= purposes ( ?is "p & p>ts #b & #c1 a def9$ b5efit plan %all be treat$ z a legacy plan ) respect to ! composite plan "u :i* employees :o 7 eligible to accrue a b5efit "u ! def9$ b5efit plan become eligible to accrue a b5efit "u su* composite plan4 7#b7 ,compon5t plans ,9 any case 9 :i* a def9$ b5efit plan is am5d$ to add a composite plan compon5t pursuant to section #hja7;b71 p>agraph 7#a7 %all be appli$ by sub/itut+ def9$ b5efit compon5t = def9$ b5efit plan & composite plan compon5t = composite plan4 7#c7 ,eligible to accrue a b5efit ,= purposes ( p>agraph 7#a71 an employee is consid]$ eligible to accrue a b5efit "u a composite plan z ( ! fir/ day 9 :i* ! employee completes an h\r ( s]vice "u a collective b>ga9+ agreem5t t provides = contributions to & accruals "u ! composite plan 9 lieu ( accruals "u ! def9$ b5efit plan4 7#d7 ,collective b>ga9+ agreem5t ,z us$ 9 ?is "p1 ! t]m collective b>ga9+ agreem5t includes any agreem5t "u :i* an employ] has an obligation to contribute to a plan4 7#e7 ,o!r t]ms ,any t]m us$ 9 ?is "p :i* is n def9$ 9 ?is "p & :i* is also us$ 9 section #cje %all h ! same mean+ provid$ su* t]m 9 su* section4 7b7 ,re/rictions on acceptance by composite plan ( agreem5ts & contributions 7#a7 ,9 g5]al ,! plan sponsor ( a composite plan %all n accept or recognize a collective b>ga9+ agreem5t 7or any modification to su* agreem5t71 & no contributions may be accept$ & no b5efits may be accru$ or o!rwise e>n$ "u ! agreem5t-- 7,a7 9 any case 9 :i* ! plan actu>y ( any def9$ b5efit plan t w\ld be treat$ z a legacy plan ) respect to su* composite plan has c]tifi$ "u section #cje7;b77#d7 t su* def9$ b5efit plan is or w be 9 endang]$ or critical /atus = ! plan ye> 9 :i* su* agreem5t w\ld take effect or = any ( ! succe$+ #e plan ye>s2 & 7,b7 unless ! agreem5t requires ea* employ] :o is a p>ty to su* agreem5t1 includ+ employ]s ^: employees are n p>ticipants 9 ! legacy plan1 to provide contributions to ! legacy plan ) respect to su* composite plan 9 a mann] t satisfies ! transition contribution requirem5ts ( subsection 7d74 7#b7 ,notice ,n lat] ?an #cj days aft] a det]m9ation by a plan sponsor ( a composite plan t an agreem5t fails to satisfy ! requirem5ts describ$ 9 p>agraph 7#a71 ! plan sponsor %all provide notification ( su* failure & ! reasons = su* det]m9ation-- 7,a7 to ! p>ties to ! agreem5t2 7,b7 to active p>ticipants ( ! composite plan :o h ceas$ to accrue or o!rwise e>n b5efits ) respect to s]vice ) an employ] pursuant to p>agraph 7#a72 & 7,c7 to ! ,secret>y1 ! ,secret>y ( ! ,treasury1 & ! ,p5sion ,b5efit ,gu>anty ,corporation4 7#c7 ,limitation on retroactive effect ,?is subsection %all n apply to b5efits accru$ be=e ! date on :i* notice is provid$ "u p>agraph 7#b74 7c7 ,re/riction on accrual ( b5efits "u a composite plan 7#a7 ,9 g5]al ,9 any case 9 :i* an employ]1 "u a collective b>ga9+ agreem5t ent]$ into aft] ! date ( enactm5t ( ?is "p1 ceases to h an obligation to contribute to a multiemploy] def9$ b5efit plan1 no employees employ$ by ! employ] may accrue or o!rwise e>n b5efits "u any composite plan1 ) respect to s]vice ) t employ]1 = a #fj-mon? p]iod beg9n+ on ! date on :i* ! employ] ent]$ into su* collective b>ga9+ agreem5t4 7#b7 ,notice ( cessation ( obligation ,)9 #cj days ( det]m9+ t an employ] has ceas$ to h an obligation to contribute to a legacy plan ) respect to employees employ$ by an employ] t is or w be contribut+ to a composite plan ) respect to s]vice ( su* employees1 ! plan sponsor ( ! legacy plan %all notify ! plan sponsor ( ! composite plan ( t cessation4 7#c7 ,notice ( cessation ( accruals ,n lat] ?an #cj days aft] det]m9+ t an employ] has ceas$ to h an obligation to contribute to a legacy plan1 ! plan sponsor ( ! composite plan %all notify ! b>ga9+ p>ties1 ! active p>ticipants affect$ by ! cessation ( accruals1 ! ,secret>y1 ! ,secret>y ( ! ,treasury1 & ! ,p5sion ,b5efit ,gu>anty ,corporation ( ! cessation ( accruals1 ! p]iod dur+ :i* su* cessation is 9 effect1 & ! reasons !re=4 7#d7 ,limitation on retroactive effect ,?is subsection %all n apply to b5efits accru$ be=e ! date on :i* notice is provid$ "u p>agraph 7#c74 7d7 ,transition contribution requirem5ts 7#a7 ,9 g5]al ,a collective b>ga9+ agreem5t satisfies ! transition contribution requirem5ts ( ?is subsection if ! agreem5t-- 7,a7 au?orizes paym5t ( contributions to a legacy plan at a rate1 or multiple rates1 z describ$ 9 p>agraph 7#b77;,b71 equal to or great] ?an ! transition contribution rate e/abli%$ by ! legacy plan "u p>agraph 7#b72 & 7,b7 does n provide =-- 7i7 a susp5sion ( contributions to ! legacy plan ) respect to any p]iod ( s]vice2 or 7ii7 any new direct or indirect exclusion ( y\ng] or newly hir$ employees ( ! employ] f be+ tak5 into acc\nt 9 det]m9+ contributions ow$ to ! legacy plan4 7#b7 ,transition contribution rate 7,a7 ,9 g5]al ,! transition contribution rate = a plan ye> is ! contribution rate t1 z c]tifi$ by ! actu>y ( ! legacy plan 9 accordance ) ! pr9ciples 9 section #cje7;b77#d77;,b71 is reasonably expect$ to be adequate-- 7i7 to fund ! normal co/ = ! plan ye>2 7ii7 to amortize ! plan's unfund$ liabilities 9 level annual in/allm5ts ov] #be ye>s1 beg9n+ ) ! plan ye> 9 :i* ! transition contribution rate is fir/ e/abli%$2 & 7iii7 to amortize any subsequ5t *anges 9 ! legacy plan's unfund$ liability due to exp]i5ce ga9s or losses 7includ+ inve/m5t ga9s or losses1 ga9s or losses due to contributions great] or less ?an ! contributions made "u ! prior transition contribution rate1 & o!r actu>ial ga9s or losses71 *anges 9 actu>ial assumptions1 *anges to ! legacy plan's b5efits1 or *anges 9 fund+ me?od ov] a p]iod ( #ae plan ye>s beg9n+ ) ! plan ye> foll[+ ! plan ye> 9 :i* su* *ange 9 unfund$ liability is incurr$1 unless o!rwise prescrib$4 ,! transition contribution rate = any plan ye> may n be less ?an ! transition contribution rate = ! plan ye> 9 :i* su* rate is fir/ e/abli%$4 7,b7 ,multiple rates ,if diff]5t rates ( contribution are payable to ! legacy plan by diff]5t employ]s or = diff]5t classes ( employees1 ! c]tification by ! actu>y ( ! legacy plan %all specify a transition contribution rate = ea* su* employ] or class ( employees4 7,c7 ,rate applicable to employ] 7i7 ,9 g5]al ,except z provid$ by clause 7ii71 ! transition contribution rate applicable to an employ] = a plan ye> is ! rate 9 effect = ! plan ye> ( ! legacy plan t comm5ces on or aft] #ahj days be=e ! e>li] (-- 7,i7 ! effective date ( ! collective b>ga9+ agreem5t pursuant to :i* ! employ] contributes to ! legacy plan2 or 7,,ii7 #e ye>s aft] ! la/ plan ye> = :i* ! transition contribution rate applicable to ! employ] 0 e/abli%$ or updat$4 7ii7 ,exception ,! transition contribution rate applicable to an employ] = ! fir/ plan ye> beg9n+ on or aft] ! comm5cem5t ( ! employ]'s obligation to contribute to ! composite plan is ! rate 9 effect = ! plan ye> ( ! legacy plan t comm5ces on or aft] #ahj days be=e su* fir/ plan ye>4 7,d7 ,effect ( legacy plan f9ancial circum/ances ,if ! plan actu>y ( ! legacy plan has c]tifi$ "u section #cje t ! plan is 9 endang]$ or critical /atus = a plan ye>1 ! transition contribution rate = ! foll[+ plan ye> is ! rate det]m9$ ) respect to ! employ] "u ! legacy plan's fund+ improvem5t or rehabilitation plan "u section #cje1 if great] ?an ! rate o!rwise det]m9$1 b 9 no ev5t %all ! transition contribution rate be great] ?an #ge p]c5t ( ! sum ( ! contribution rates applicable to ! legacy plan & ! composite plan = ! plan ye>4 ,not)/&+ ! prec$+ s5t5ce1 if ! transition contribution rate 9 ! prior ye> is m ?an #ge p]c5t ( ! sum ( ! contribution rates applicable to ! legacy plan & ! composite plan = ! prior plan ye>1 ! transition contribution rate applicable to ! legacy plan %all n be subject to ! #ge-p]c5t limitation1 b %all be nei!r increas$ nor r$uc$ z a p]c5tage ( ! sum ( ! contribution rates applicable to ! legacy plan & ! composite plan = ! plan ye>4 7,e7 ,o!r actu>ial assumptions & me?ods ,except z provid$ 9 subp>agraph 7,a71 ! det]m9ation ( ! transition contribution rate = a plan ye> %all be bas$ on actu>ial assumptions & me?ods consi/5t ) ! m9imum fund+ det]m9ations made "u section #cjd 7or1 if applicable1 section #cje7 ) respect to ! legacy plan = ! plan ye>4 7,f7 ,adju/m5ts 9 rate ,! plan sponsor ( a legacy plan f "t to "t may adju/ ! transition contribution rate or rates applicable to an employ] "u ?is p>agraph by increas+ "s rates & decreas+ o!rs if ! actu>y c]tifies t su* adju/$ rates 9 comb9ation w produce project$ contribution income = ! plan ye> beg9n+ on or aft] ! date ( c]tification t is n less ?an w\ld be produc$ by ! transition contribution rates 9 effect at ! "t ( ! c]tification4 7,g7 ,notice ( transition contribution rate ,! plan sponsor ( a legacy plan %all provide notice to ! p>ties to collective b>ga9+ agreem5ts pursuant to :i* contributions are made to ! legacy plan ( *anges to ! transition contribution rate requirem5ts at lea/ #cj days be=e ! beg9n+ ( ! plan ye> = :i* ! rate is effective4 7,h7 ,notice to composite plan sponsor ,n lat] ?an #cj days aft] a det]m9ation by ! plan sponsor ( a legacy plan t a collective b>ga9+ agreem5t provides = a rate ( contributions t is bel[ ! transition contribution rate applicable to "o or m employ]s t are p>ties to ! collective b>ga9+ agreem5t1 ! plan sponsor ( ! legacy plan %all notify ! plan sponsor ( any composite plan "u :i* employees ( su* employ] w\ld o!rwise be eligible to accrue a b5efit4 7#c7 ,correction proc$ures ,pursuant to /&>ds prescrib$ by ! ,secret>y1 ! plan sponsor ( a composite plan %all adopt rules & proc$ures t give ! p>ties to ! collective b>ga9+ agreem5t notice ( ! failure ( su* agreem5t to satisfy ! transition contribution requirem5ts ( ?is subsection1 & a reasonable opportunity to correct su* failure1 n to exce$ #ahj days f ! date ( notice giv5 "u subsection 7b77#b74 7#d7 ,supplem5tal contributions ,a collective b>ga9+ agreem5t may provide = supplem5tal contributions to ! legacy plan = a plan ye> 9 excess ( ! transition contribution rate det]m9$ "u p>agraph 7#b71 reg>dless ( :e!r ! legacy plan is 9 endang]$ or critical /atus = su* plan ye>4 7e7 ,nonapplication ( composite plan re/rictions 7#a7 ,9 g5]al ,! provisions ( subsections 7a71 7b71 & 7c7 %all n apply ) respect to a collective b>ga9+ agreem5t1 to ! ext5t ! agreem5t1 or a pr$ecessor agreem5t1 provides or provid$ = contributions to a def9$ b5efit plan t is a legacy plan1 z ( ! fir/ day ( ! fir/ plan ye> foll[+ a plan ye> = :i* ! plan actu>y c]tifies t ! plan is fully fund$1 has be5 fully fund$ = at lea/ ?ree out ( ! imm$iately prec$+ #e plan ye>s1 & is project$ to rema9 fully fund$ = at lea/ ! foll[+ #d plan ye>s4 7#b7 ,det]m9ation ( fully fund$ ,a plan is fully fund$ = purposes ( p>agraph 7#a7 if1 z ( ! valuation date ( ! plan = a plan ye>1 ! value ( ! plan's assets equals or exce$s ! pres5t value ( ! plan's liabilities1 det]m9$ 9 accordance ) ! rules prescrib$ by ! ,p5sion ,b5efit ,gu>anty ,corporation "u sections #dbai7;c77#a77;,d7 & #dbha = multiemploy] plans t]m9at+ by mass )drawal1 z 9 effect = ! date ( ! det]m9ation1 except ! plan's reasonable assumption reg>d+ ! />t+ date ( b5efits may be us$4 7#c7 ,o!r applicable rules ,except z provid$ 9 p>agraph 7#b71 actu>ial det]m9ations & projections "u ?is section %all be bas$ on ! rules 9 section #hjb7;b74 #hjf4 ,m]g]s & asset transf]s ( composite plans 7a7 ,9 g5]al ,assets & liabilities ( a composite plan may only be m]g$ )1 or transf]r$ to1 ano!r plan if-- 7#a7 ! o!r plan is a composite plan2 7#b7 ! plan or plans result+ f ! m]g] or transf] is a composite plan2 7#c7 no p>ticipant's accru$ b5efit or adju/able b5efit is l[] imm$iately aft] ! transaction ?an x 0 imm$iately be=e ! transaction2 & 7#d7 ! value ( ! assets transf]r$ 9 ! case ( a transf] reasonably reflects ! value ( ! am\nts contribut$ ) respect to ! p>ticipants ^: b5efits are be+ transf]r$1 adju/$ = allocable di/ributions1 inve/m5t ga9s & losses1 & adm9i/rative exp5ses4 ,a plan :i* is n a composite plan may n m]ge ) or transf] assets & liabilities to a composite plan4 7b7 ,legacy plan 7#a7 ,9 g5]al ,aft] a m]g] or transf] involv+ a composite plan1 ! legacy plan ) respect to an employ] t is obligat$ to contribute to ! result+ composite plan is ! legacy plan t appli$ to t employ] imm$iately be=e ! m]g] or transf]4 7#b7 ,multiple ,legacy ,plans ,if an employ] is obligat$ to contribute to m ?an "o legacy plan ) respect to employees eligible to accrue b5efits "u m ?an "o composite plan & !re is a m]g] or transf] ( su* legacy plans1 ! transition contribution rate applicable to ! legacy plan result+ f ! m]g] or transf] ) respect to t employ] %all be det]m9$ 9 accordance ) ! provisions ( section #hje7;d77#b77;,b74 4 7#b7 ,p5alties 7,a7 ,civil en=cem5t ( failure to comply ) realignm5t program ,section #ejb7;a7 ( su* ,act 7#bi ,u4,s4,c4 #aacb7;a77 is am5d$-- 7i7 9 p>agraph 7#aj71 by /rik+ or at ! end2 7ii7 9 p>agraph 7#aa71 by /rik+ ! p]iod at ! end & ins]t+ 2 or2 & 7iii7 by add+ at ! end ! foll[+3 7#ab7 9 ! case ( a composite plan requir$ to adopt a realignm5t program "u section #hjc1 if ! plan sponsor-- 7,a7 has n adopt$ a realignm5t program "u t section by ! deadl9e e/abli%$ 9 su* section2 or 7,b7 fails to update or comply ) ! t]ms ( ! realignm5t program 9 accordance ) ! requirem5ts ( su* section1 by ! ,secret>y1 by an employ] t has an obligation to contribute ) respect to ! composite plan1 or by an employee organization t repres5ts active p>ticipants 9 ! composite plan1 = an ord] compell+ ! plan sponsor to adopt a realignm5t program1 or to update or comply ) ! t]ms ( ! realignm5t program1 9 accordance ) ! requirem5ts ( su* section & ! realignm5t program4 4 7,b7 ,civil p5alties ,section #ejb7;c7 ( su* ,act 7#bi ,u4,s4,c4 #aacb7;c771 z am5d$ by ?is ,act1 is fur!r am5d$-- 7i7 by mov+ p>agraphs 7#h71 7#aj71 & 7#ab7 ea* #b ems to ! left2 7ii7 by r$esignat+ p>agraphs 7#i7 ?r\gh 7#ac7 z p>agraphs 7#ab7 ?r\gh 7#af71 respectively2 & 7iii7 by ins]t+ aft] p>agraph 7#h7 ! foll[+3 7#i7 ,! ,secret>y may assess aga9/ any plan sponsor ( a composite plan a civil p5alty ( n m ?an #b1adj p] day = ea* violation by su* sponsor-- 7,a7 ( ! requirem5t "u section #hja7;a77#e77;,d7 to furni% an annual notification to ea* p>ticipant2 7,b7 ( ! requirem5t "u section #hjb7;a7 on ! plan actu>y to c]tify ! plan's curr5t or project$ fund$ ratio by ! date specifi$ 9 su* subsection2 or 7,c7 ( ! requirem5t "u section #hjc to adopt a realignm5t program by ! deadl9e e/abli%$ 9 t section & to comply ) its t]ms4 7#aj7 7,a7 ,! ,secret>y may assess aga9/ any plan sponsor ( a composite plan a civil p5alty ( n m ?an #ajj p] day = ea* violation by su* sponsor ( ! requirem5t "u section #hjc7;b7 to provide notice z describ$ 9 su* section1 except t no p5alty may be assess$ 9 any case 9 :i* ! plan sponsor ex]cis$ reasonable dilig5ce to meet ! requirem5ts ( su* section &-- 7i7 ! plan sponsor did n "k t ! violation exi/$2 or 7ii7 ! plan sponsor provid$ su* notice dur+ ! #cj-;day p]iod beg9n+ on ! fir/ date on :i* ! plan sponsor knew1 or 9 ex]cis+ reasonable due dilig5ce %\ld h kn[n1 t su* violation exi/$4 7,b7 ,9 any case 9 :i* ! plan sponsor ex]cis$ reasonable dilig5ce to meet ! requirem5ts ( section #hjc7;b71 ! ,secret>y may waive "p or all ( su* p5alty to ! ext5t t ! paym5t ( su* p5alty w\ld be excessive or o!rwise inequitable relative to ! violation involv$4 7#aa7 ,! ,secret>y may assess aga9/ any plan sponsor ( a composite plan a civil p5alty ( n m ?an #ajj p] day = ea* violation by su* sponsor ( ! notice requirem5ts "u sections #hja7;b77#e7 & #hje7;b77#b74 4 7#c7 ,au?orities ,section #aja7;a7 ( ,reorganization ,plan ,no4 #d ( #aigh 7#bi ,u4,s4,c4 #ajja note7 is am5d$ by /rik+ ,p>ts #b & #c & ins]t+ ,p>ts #b1 #c1 & #h4 7#d7 ,con=m+ am5dm5t ,! table ( cont5ts 9 section #a ( su* ,act 7#bi ,u4,s4,c4 #ajja note7 is am5d$ by ins]t+ aft] ! item relat+ to section #gcd ! foll[+3 ,"p #h--;,composite ,plans & ,legacy ,plans ,sec4 #hja4 ,composite plan def9$4 ,sec4 #hjb4 ,fund$ ratios2 actu>ial assumptions4 ,sec4 #hjc4 ,realignm5t program4 ,sec4 #hjd4 ,limitation on increas+ b5efits4 ,sec4 #hje4 ,composite plan re/rictions to pres]ve legacy plan fund+4 ,sec4 #hjf4 ,m]g]s & asset transf]s ( composite plans4 4 7b7 ,am5dm5t to ! ,int]nal ,rev5ue ,code ( #aihf 7#a7 ,9 g5]al ,sub*apt] ,d ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 ,,iv ,composite ,plans & ,legacy ,plans ,sec4 #dcg4 ,composite plan def9$4 ,sec4 #dch4 ,fund$ ratios2 actu>ial assumptions4 ,sec4 #dci4 ,realignm5t program4 ,sec4 #ddj4 ,limitation on increas+ b5efits4 ,sec4 #ddj;,a4 ,composite plan re/rictions to pres]ve legacy plan fund+4 ,sec4 #ddj;,b4 ,m]g]s & asset transf]s ( composite plans4 #dcg4 ,composite plan def9$ 7a7 ,9 g5]al ,= purposes ( ?is title1 ! t]m composite plan means a p5sion plan-- 7#a7 :i* is a multiemploy] plan t is nei!r a def9$ b5efit plan nor a def9$ contribution plan1 7#b7 ! t]ms ( :i* provide t ! plan is a composite plan = purposes ( ?is title ) respect to :i* n m ?an "o multiemploy] def9$ b5efit plan is treat$ z a legacy plan )9 ! mean+ ( section #ddj;,a1 unless !re is m ?an "o legacy plan foll[+ a m]g] ( composite plans "u section #ddj;,b1 7#c7 :i* provides sy/ematically = ! paym5t ( b5efits-- 7,a7 objectively calculat$ pursuant to a nondiscretion>y =mula specifi$ 9 ! plan docum5t ) respect to plan p>ticipants = life1 & 7,b7 9 ! =m ( life annuities1 except = b5efits :i* "u section #daa7;a77#aa7 may be imm$iately di/ribut$ )\t ! cons5t ( ! p>ticipant1 7#d7 = :i* ! anticipat$ employ] contributions to ! plan = ! fir/ plan ye> are at lea/ #abj p]c5t ( ! normal co/ = ! plan ye>1 7#e7 :i* requires-- 7,a7 an annual valuation ( ! liability ( ! plan z ( a date )9 ! plan ye> to :i* ! valuation ref]s or )9 "o mon? prior to ! beg9n+ ( su* ye>1 7,b7 an annual actu>ial det]m9ation ( ! plan's curr5t fund$ ratio & project$ fund$ ratio "u section #dch7;a71 7,c7 corrective action ?r\gh a realignm5t program pursuant to section #dci :5ev] ! plan's project$ fund$ ratio is bel[ #abj p]c5t = ! plan ye>1 & 7,d7 an annual notification to ea* p>ticipant describ+ b5efits "u ! plan & expla9+ t su* b5efits may be subject to r$uction "u a realignm5t program pursuant to section #dci bas$ on ! plan's fund$ /atus 9 future plan ye>s1 & 7#f7 ! bo>d ( tru/ees ( :i* includes at lea/ "o retiree or b5efici>y 9 pay /atus dur+ ea* plan ye> foll[+ ! fir/ plan ye> 9 :i* at lea/ #e p]c5t ( ! p>ticipants 9 ! plan are retirees or b5efici>ies 9 pay /atus4 7b7 ,transition f a multiemploy] def9$ b5efit plan 7#a7 ,9 g5]al ,! plan sponsor ( a def9$ b5efit plan t is a multiemploy] plan may1 subject to p>agraph 7#b71 am5d ! plan to incorporate ! features ( a composite plan z a compon5t ( ! multiemploy] plan sep>ate f ! def9$ b5efit plan compon5t1 except 9 ! case ( a def9$ b5efit plan = :i* ! plan actu>y has c]tifi$ "u section #dcb7;b77#d7 t ! plan is or w be 9 endang]$ or critical /atus = ! plan ye> 9 :i* su* am5dm5t w\ld become effective or 9 endang]$ or critical /atus = any ( ! succe$+ #e plan ye>s4 7#b7 ,requirem5ts ,any am5dm5t pursuant to p>agraph 7#a7 to incorporate ! features ( a composite plan z a compon5t ( a multiemploy] plan %all-- 7,a7 apply ) respect to all collective b>ga9+ agreem5ts provid+ = contributions to ! multiemploy] plan on or aft] ! effective date ( ! am5dm5t1 7,b7 apply ) respect to all p>ticipants 9 ! multiemploy] plan = :om contributions are made to ! multiemploy] plan on or aft] ! effective date ( ! am5dm5t1 7,c7 specify t ! effective date ( ! am5dm5t is-- 7i7 ! fir/ day ( a specifi$ plan ye> foll[+ ! date ( ! adoption ( ! am5dm5t1 except t ! plan sponsor may alt]natively provide = a sep>ate effective date ) respect to ea* collective b>ga9+ agreem5t "u :i* contributions to ! multiemploy] plan are requir$1 :i* %all occur on ! fir/ day ( ! fir/ plan ye> beg9n+ aft] ! t]m9ation1 or if e>li]1 ! re-op5+1 ( ea* su* agreem5t1 or su* e>li] date z ! p>ties to ! agreem5t & ! plan sponsor ( ! multiemploy] plan %all agree to1 & 7ii7 n lat] ?an ! fir/ day ( ! fif? plan ye> beg9n+ on or aft] ! date ( ! adoption ( ! am5dm5t1 7,d7 specify t1 z ( ! am5dm5t's effective date1 no fur!r b5efits %all accrue "u ! def9$ b5efit compon5t ( ! multiemploy] plan1 & 7,e7 specify t1 z ( ! am5dm5t's effective date1 ! plan sponsor ( ! multiemploy] plan %all be ! plan sponsor ( bo? ! composite plan compon5t & ! def9$ b5efit plan compon5t ( ! plan4 7#c7 ,special rules ,if a multiemploy] plan is am5d$ pursuant to p>agraph 7#a7-- 7,a7 ! requirem5ts ( ?is title %all be appli$ to ! composite plan compon5t & ! def9$ b5efit plan compon5t ( ! multiemploy] plan z if ea* su* compon5t 7 ma9ta9$ z a sep>ate plan1 & 7,b7 ! assets ( ! composite plan compon5t & ! def9$ b5efit plan compon5t ( ! plan %all be held 9 a s+le tru/ =m+ "p ( ! plan "u :i* ! tru/ in/rum5t expressly provides-- 7i7 = sep>ate acc\nts 7& appropriate records7 to be ma9ta9$ to reflect ! int]e/ :i* ea* ( ! plan compon5ts has 9 ! tru/1 includ+ sep>ate acc\nt+ = additions to ! tru/ = ! b5efit ( ea* plan compon5t1 disbursem5ts made f ea* plan compon5t's acc\nt 9 ! tru/1 inve/m5t exp]i5ce ( ! tru/ allocable to t acc\nt1 & adm9i/rative exp5ses 7:e!r direct exp5ses or %>$ exp5ses allocat$ proportionally71 & p]mits1 b does n require1 ! pool+ ( "s or all ( ! assets ( ! two plan compon5ts = inve/m5t purposes1 subject to ! judgm5t ( ! plan fiduci>ies1 & 7ii7 t ! assets ( ea* ( ! two plan compon5ts %all be held1 inve/$1 re9ve/$1 manag$1 adm9i/]$ & di/ribut$ = ! exclusive b5efit ( ! p>ticipants & b5efici>ies ( ea* su* plan compon5t1 & 9 no ev5t %all ! assets ( "o ( ! plan compon5ts be available to pay b5efits due "u ! o!r plan compon5t4 7#d7 ,n a t]m9ation ev5t ,not)/&+ section #djda;,a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd1 an am5dm5t pursuant to p>agraph 7#a7 to incorporate ! features ( a composite plan z a compon5t ( a multiemploy] plan does n con/itute t]m9ation ( ! multiemploy] plan4 7#e7 ,notice to ! ,secret>y ( ,labor 7,a7 ,notice ,! plan sponsor ( a composite plan %all provide notice to ! ,secret>y ( ,labor ( ! int5t to e/abli% ! composite plan 7or1 9 ! case ( a composite plan incorporat$ z a compon5t ( a multiemploy] plan z describ$ 9 p>agraph 7#a71 ! int5t to am5d ! multiemploy] plan to incorporate su* composite plan7 at lea/ #cj days prior to ! effective date ( su* e/abli%m5t or am5dm5t4 7,b7 ,c]tification ,9 ! case ( a composite plan incorporat$ z a compon5t ( a multiemploy] plan z describ$ 9 p>agraph 7#a71 su* notice %all include a c]tification by ! plan actu>y "u section #dcb7;b77#d7 t ! effective date ( ! am5dm5t occurs 9 a plan ye> = :i* ! multiemploy] plan is n 9 endang]$ or critical /atus = t plan ye> & any ( ! succe$+ #e plan ye>s4 7#f7 ,ref]5ces to composite plan compon5t ,z us$ 9 ?is "p1 ! t]m composite plan includes a composite plan compon5t add$ to a def9$ b5efit plan pursuant to p>agraph 7#a74 7#g7 ,rule ( con/ruction ,p>agraph 7#b77;,a7 %all n be con/ru$ z prev5t+ ! plan sponsor ( a multiemploy] plan f adopt+ an am5dm5t pursuant to p>agraph 7#a7 because "s collective b>ga9+ agreem5ts are am5d$ to cease any cov]$ employ]'s obligation to contribute to ! multiemploy] plan be=e or aft] ! plan am5dm5t is effective4 ,p>agraph 7#b77;,b7 %all n be con/ru$ z prev5t+ ! plan sponsor ( a multiemploy] plan f adopt+ an am5dm5t pursuant to p>agraph 7#a7 because "s p>ticipants cease to h contributions made to ! multiemploy] plan on _! behalf be=e or aft] ! plan am5dm5t is effective4 7c7 ,coord9ation ) fund+ rules ,except z o!rwise provid$ 9 ?is "p1 sections #dab1 #dca1 & #dcb %all n apply to a composite plan4 7d7 ,treatm5t ( a composite plan ,= purposes ( ?is title 7o!r ?an sections #dab & #dah;,e71 a composite plan %all be treat$ z if x 7 a def9$ b5efit plan unless a diff]5t treatm5t is provid$ = "u applicable law4 #dch4 ,fund$ ratios2 actu>ial assumptions 7a7 ,c]tification ( fund$ ratios 7#a7 ,9 g5]al ,n lat] ?an ! "o-hundr$ tw5tie? day ( ea* plan ye> ( a composite plan1 ! plan actu>y ( ! composite plan %all c]tify to ! ,secret>y1 ! ,secret>y ( ,labor1 & ! plan sponsor ! plan's curr5t fund$ ratio & project$ fund$ ratio = ! plan ye>4 7#b7 ,det]m9ation ( curr5t fund$ ratio & project$ fund$ ratio ,= purposes ( ?is section-- 7,a7 ,curr5t fund$ ratio ,! curr5t fund$ ratio is ! ratio 7express$ z a p]c5tage7 (-- 7i7 ! value ( ! plan's assets z ( ! fir/ day ( ! plan ye>1 to 7ii7 ! plan actu>y's calculation ( ! pres5t value ( ! plan liabilities z ( ! fir/ day ( ! plan ye>4 7,b7 ,project$ fund$ ratio ,! project$ fund$ ratio is ! fund$ ratio det]m9$ "u subp>agraph 7,a71 project$ z ( ! fir/ day ( ! fifte5? plan ye> foll[+ ! plan ye> = :i* ! det]m9ation is be+ made4 7#c7 ,consid]ation ( contribution rate increases ,= purposes ( projections "u ?is subsection1 ! plan actu>y may anticipate contribution rate increases beyond ! t]m ( ! curr5t collective b>ga9+ agreem5t & any agre$-to supplem5ts1 if reasonable1 n to exce$ #b4e p]c5t p] ye>1 comp\nd$ annually4 7b7 ,actu>ial assumptions & me?ods ,= purposes ( ?is "p-- 7#a7 ,9 g5]al ,all co/s1 liabilities1 rates ( int]e/1 & o!r factors "u ! plan %all be det]m9$ = a plan ye> on ! basis ( actu>ial assumptions & me?ods-- 7,a7 ea* ( :i* is reasonable 7tak+ into acc\nt ! exp]i5ce ( ! plan & reasonable expectations71 7,b7 :i*1 9 comb9ation1 (f] ! actu>y's be/ e/imate ( anticipat$ exp]i5ce "u ! plan1 & 7,c7 ) respect to :i* any *ange f ! actu>ial assumptions & me?ods us$ 9 ! previ\s plan ye> %all be c]tifi$ by ! plan actu>y & ! actu>ial rationale = su* *ange provid$ 9 ! annual report requir$ by section #fjeh4 7#b7 ,fair m>ket value ( assets ,! value ( ! plan's assets %all be tak5 into acc\nt on ! basis ( _! fair m>ket value4 7#c7 ,det]m9ation ( normal co/ & plan liabilities ,a plan's normal co/ & liabilities %all be bas$ on-- 7,a7 ! mo/ rec5t actu>ial valuation requir$ "u section #dcg7;a77#e77;,a7 & ! unit cr$it fund+ me?od1 & 7,b7 rates ( int]e/ subject to section #dca7;b77#f74 7#d7 ,"t :5 c]ta9 contributions deem$ made ,any contributions = a plan ye> made by an employ] aft] ! la/ day ( su* plan ye>1 b n lat] ?an #b mon?s aft] su* day1 %all be deem$ to h be5 made on su* la/ day4 ,= purposes ( ?is p>agraph1 su* #b-mon? p]iod may be ext5d$ to a total ( n m ?an #abj days "u regulations prescrib$ by ! ,secret>y4 7#e7 ,additional actu>ial assumptions ,except :]e o!rwise provid$ 9 ?is "p1 ! provisions ( section #dcb7;b77#d77;,b7 %all apply to any det]m9ation or projection "u ?is "p4 #dci4 ,realignm5t program 7a7 ,realignm5t program 7#a7 ,adoption ,9 any case 9 :i* ! plan actu>y c]tifies "u section #dch7;a7 t ! plan's project$ fund$ ratio is bel[ #abj p]c5t = ! plan ye>1 ! plan sponsor %all adopt a realignm5t program "u p>agraph 7#b7 n lat] ?an #baj days aft] ! due date ( ! c]tification requir$ "u section #dch7;a74 ,! plan sponsor %all adopt an updat$ realignm5t program = ea* succe$+ plan ye> = :i* a c]tification describ$ 9 ! prec$+ s5t5ce is made4 7#b7 ,cont5t ( realignm5t program 7,a7 ,9 g5]al ,a realignm5t program adopt$ "u ?is p>agraph is a writt5 program :i* consi/s ( reasonable measures1 includ+ options or a range ( options to be und]tak5 by ! plan sponsor or propos$ to ! b>ga9+ p>ties1 =mulat$1 bas$ on reasonably anticipat$ exp]i5ce & reasonable actu>ial assumptions1 to enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>4 7,b7 ,initial program elem5ts ,reasonable measures "u a realignm5t program describ$ 9 subp>agraph 7,a7 may include any ( ! foll[+3 7i7 ,propos$ contribution increases4 7ii7 ,a r$uction 9 ! rate ( future b5efit accruals1 s long z ! result+ rate %all n be less ?an #a p]c5t ( ! contributions on :i* b5efits are bas$ z ( ! />t ( ! plan ye> 7or ! equival5t /&>d accrual rate z describ$ 9 section #dcb7;f77#f774 7iii7 ,a modification or elim9ation ( adju/able b5efits ( p>ticipants t are n 9 pay /atus be=e ! date ( ! notice requir$ "u subsection 7b77#a74 7iv7 ,any o!r legally available measures n specifically describ$ 9 ?is subp>agraph or subp>agraph 7,c7 or 7,d7 t ! plan sponsor det]m9es are reasonable4 7,c7 ,additional program elem5ts ,if ! plan sponsor has det]m9$ t all reasonable measures available "u subp>agraph 7,b7 w n enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t ! foll[+ plan ye>1 su* realignm5t program may also include-- 7i7 a r$uction ( accru$ b5efits t are n 9 pay /atus by ! date ( ! notice requir$ "u subsection 7b77#a71 or 7ii7 a r$uction ( any b5efits ( p>ticipants t are 9 pay /atus be=e ! date ( ! notice requir$ "u subsection 7b77#a7 o!r ?an core b5efits z def9$ 9 p>agraph 7#d74 7,d7 ,additional r$uctions ,9 ! case ( a composite plan = :i* ! plan sponsor has det]m9$ t all reasonable measures available "u subp>agraphs 7,b7 & 7,c7 w n enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>1 ! realignm5t program may also include-- 7i7 a fur!r r$uction 9 ! rate ( future b5efit accruals )\t reg>d to ! limitation applicable "u subp>agraph 7,b77ii71 or 7ii7 a r$uction ( core b5efits1 provid$ t su* r$uctions %all be equitably di/ribut$ across ! p>ticipant & b5efici>y population1 tak+ into acc\nt factors1 ) respect to p>ticipants & b5efici>ies & _! b5efits1 t may include "o or m ( ! factors li/$ 9 subclauses 7,i7 ?r\gh 7,x7 ( section #dcb7;f77#i77;,d77vi71 to ! ext5t necess>y to enable ! plan to a*ieve a project$ fund$ ratio ( at lea/ #abj p]c5t = ! foll[+ plan ye>4 7#c7 ,adju/able b5efit def9$ ,= purposes ( ?is "p1 ! t]m adju/able b5efit means-- 7,a7 b5efits1 rights1 & features "u ! plan1 includ+ po/-retirem5t dea? b5efits1 disability b5efits n yet 9 pay /atus1 & simil> b5efits1 7,b7 any e>ly retirem5t b5efit or retirem5t-type subsidy 7)9 ! mean+ ( section #daa7;d77#f77;,b77i77 7includ+ e>ly r$uction factors :i* are n provid$ on an actu>ially equival5t basis7 & any b5efit paym5t option 7o!r ?an ! qualifi$ jo9t & survivor annuity71 7,c7 b5efit increases :i* 7 adopt$ 7or1 if lat]1 took effect7 less ?an #abj mon?s be=e ! fir/ day ( ! fir/ plan ye> 9 :i* su* realignm5t program took effect1 7,d7 any "o-"t bonus paym5t or ?irte5? *eck provision1 & 7,e7 b5efits grant$ = p]iod ( s]vice prior to p>ticipation 9 ! plan4 7#d7 ,core b5efit def9$ ,= purposes ( ?is "p1 ! t]m core b5efit means a p>ticipant's accru$ b5efit payable 9 ! normal =m ( an annuity comm5c+ at normal retirem5t age1 det]m9$ )\t reg>d to-- 7,a7 any e>ly retirem5t b5efits1 retirem5t-type subsidies1 or o!r b5efits1 rights1 or features t may be associat$ ) t b5efit1 & 7,b7 any co/-(-liv+ adju/m5ts or b5efit increases effective aft] ! date ( retirem5t4 7#e7 ,coord9ation ) contribution increases 7,a7 ,9 g5]al ,a realignm5t program may provide t "s or all ( ! b5efit modifications describ$ 9 ! program w only take effect if ! b>ga9+ p>ties fail to agree to specifi$ levels ( increases 9 contributions to ! plan1 effective z ( specifi$ dates4 7,b7 ,indep5d5t b5efit modifications ,if a realignm5t program adopts any *anges to ! b5efit =mula t are indep5d5t ( pot5tial contribution increases1 su* *anges %all take effect n lat] ?an #ahj days foll[+ ! fir/ day ( ! fir/ plan ye> t beg9s foll[+ ! adoption ( ! realignm5t program4 7,c7 ,conditional b5efit modifications ,if a realignm5t program adopts any *anges to ! b5efit =mula t take effect only if ! b>ga9+ p>ties fail to agree to contribution increases1 su* *anges %all take effect n lat] ?an ! fir/ day ( ! fir/ plan ye> beg9n+ aft] ! ?ird anniv]s>y ( ! date ( adoption ( ! realignm5t program4 7,d7 ,revocation ( c]ta9 b5efit modifications ,b5efit modifications describ$ 9 p>agraph 7#c7 may be revok$1 9 :ole or 9 "p1 & retroactively or prospectively1 :5 contributions to ! plan are increas$1 z specifi$ 9 ! realignm5t program1 includ+ any am5dm5ts !reto4 ,! prec$+ s5t5ce %all n apply unless ! contribution increases are to be effective n lat] ?an ! fif? anniv]s>y ( ! fir/ day ( ! fir/ plan ye> t beg9s aft] ! adoption ( ! realignm5t program4 7b7 ,notice 7#a7 ,9 g5]al ,9 any case 9 :i* x is c]tifi$ "u section #dch7;a7 t ! project$ fund$ ratio is less ?an #abj p]c5t1 ! plan sponsor %all1 n lat] ?an #cj days aft] ! date ( ! c]tification1 provide notification ( ! curr5t & project$ fund$ ratios to ! p>ticipants & b5efici>ies1 ! b>ga9+ p>ties1 ! ,secret>y ( ,labor1 & ! ,secret>y4 ,su* notice %all include-- 7,a7 an explanation t contribution rate increases or b5efit r$uctions may be necess>y1 7,b7 a description ( ! types ( b5efits t might be r$uc$1 & 7,c7 an e/imate ( ! contribution increases & b5efit r$uctions t may be necess>y to a*ieve a project$ fund$ ratio ( #abj p]c5t4 7#b7 ,notice ( b5efit modifications 7,a7 ,9 g5]al ,no modifications may be made t r$uce ! rate ( future b5efit accrual or t r$uce core b5efits or adju/able b5efits unless notice ( su* r$uction has be5 giv5 at lea/ #ahj days be=e ! g5]al effective date ( su* r$uction = all p>ticipants & b5efici>ies to-- 7i7 plan p>ticipants & b5efici>ies1 7ii7 ea* employ] :o has an obligation to contribute to ! composite plan1 & 7iii7 ea* employee organization :i*1 = purposes ( collective b>ga9+1 repres5ts plan p>ticipants employ$ by su* employ]s4 7,b7 ,cont5t ( ,notice ,! notice "u subp>agraph 7,a7 %all conta9-- 7i7 suffici5t in=mation to enable p>ticipants & b5efici>ies to und]/& ! effect ( any r$uction on _! b5efits1 includ+ an illu/ration ( any affect$ b5efit or subsidy1 on an annual or mon?ly basis t a p>ticipant or b5efici>y w\ld o!rwise h be5 eligible = z ( ! g5]al effective date describ$ 9 subp>agraph 7,a71 & 7ii7 in=mation z to ! rights & rem$ies ( plan p>ticipants & b5efici>ies z well z h[ to contact ! ,dep>tm5t ( ! ,treasury = fur!r in=mation & assi/ance1 :]e appropriate4 7,c7 ,=m & ,mann] ,any notice "u subp>agraph 7,a7-- 7i7 %all be provid$ 9 a =m & mann] prescrib$ 9 regulations ( ! ,secret>y1 & 7ii7 %all be writt5 9 a mann] s z to be und]/ood by ! av]age plan p>ticipant4 7#c7 ,model notices ,! ,secret>y %all-- 7,a7 prescribe model notices t ! plan sponsor ( a composite plan may use to satisfy ! notice requirem5ts "u ?is subsection1 & 7,b7 by regulation enum]ate any details relat$ to ! elem5ts li/$ 9 p>agraph 7#a7 t any notice "u ?is subsection mu/ include4 7#d7 ,deliv]y me?od ,any notice "u ?is "p %all be provid$ 9 writ+ & may be provid$ 9 electronic =m to ! ext5t t ! =m is reasonably accessible to p]sons to :om ! notice is provid$4 #ddj4 ,limitation on increas+ b5efits 7a7 ,level ( curr5t fund$ ratios ,except z provid$ 9 subsections 7c71 7d71 & 7e71 no plan am5dm5t increas+ b5efits or e/abli%+ new b5efits "u a composite plan may be adopt$ = a plan ye> unless-- 7#a7 ! plan's curr5t fund$ ratio is at lea/ #aaj p]c5t 7)\t reg>d to ! b5efit increase or new b5efits71 7#b7 tak+ ! b5efit increase or new b5efits into acc\nt1 ! curr5t fund$ ratio is at lea/ #ajj p]c5t & ! project$ fund$ ratio = ! curr5t plan ye> is at lea/ #abj p]c5t1 7#c7 9 any case 9 :i*1 aft] tak+ ! b5efit increase or new b5efits into acc\nt1 ! curr5t fund$ ratio is less ?an #adj p]c5t or ! project$ fund$ ratio is less ?an #adj p]c5t1 ! b5efit increase or new b5efits are project$ by ! plan actu>y to increase ! pres5t value ( ! plan's liabilities = ! plan ye> by n m ?an #c p]c5t1 & 7#d7 expect$ contributions = ! curr5t plan ye> are at lea/ #abj p]c5t ( normal co/ = ! plan ye>1 det]m9$ us+ ! unit cr$it fund+ me?od & treat+ ! b5efit increase or new b5efits z 9 effect = ! entire plan ye>4 7b7 ,additional requirem5ts :]e core b5efits r$uc$ ,if a plan has be5 am5d$ to r$uce core b5efits pursuant to a realignm5t program "u section #dci7;a77#b77;,d71 su* plan may n be subsequ5tly am5d$ to increase core b5efits unless ! am5dm5t-- 7#a7 increases ! level ( future b5efit paym5ts only1 & 7#b7 provides = an equitable di/ribution ( b5efit increases across ! p>ticipant & b5efici>y population1 tak+ into acc\nt ! ext5t to :i* ! b5efits ( p>ticipants 7 previ\sly r$uc$ pursuant to su* realignm5t program4 7c7 ,exception ,to comply ) applicable law ,subsection 7a7 %all n apply 9 connection ) a plan am5dm5t if ! am5dm5t is requir$ z a condition ( qualification "u "p ,i ( sub*apt] ,d ( *apt] #a or to comply ) o!r applicable law4 7d7 ,exception :]e maximum d$uctible limit applies ,subsection 7a7 %all n apply 9 connection ) a plan am5dm5t if & to ! ext5t t contributions to ! composite plan w\ld n be d$uctible = ! plan ye> "u section #djd7;a77#a77;,e7 if ! plan am5dm5t is n adopt$4 ,! ,secret>y ( ! ,treasury %all issue regulations to implem5t ?is p>agraph4 7e7 ,exception = c]ta9 b5efit modifications ,subsection 7a7 %all n apply 9 connection ) a plan am5dm5t "u section #dci7;a77#e77;,c71 reg>d+ conditional b5efit modifications4 7f7 ,treatm5t ( plan am5dm5ts ,= purposes ( ?is section-- 7#a7 if two or m plan am5dm5ts increas+ b5efits or e/abli%+ new b5efits are adopt$ 9 a plan ye>1 su* am5dm5ts %all be treat$ z a s+le am5dm5t adopt$ on ! la/ day ( ! plan ye>1 7#b7 all b5efit increases & new b5efits adopt$ 9 a s+le am5dm5t are treat$ z a s+le b5efit increase1 irrespective ( :e!r ! increases & new b5efits take effect 9 m ?an "o plan ye>1 & 7#c7 increases 9 contributions or decreases 9 plan liabilities :i* are s*$ul$ to take effect 9 future plan ye>s may be tak5 into acc\nt 9 connection ) a plan am5dm5t if !y h be5 agre$ to 9 writ+ or o!rwise =maliz$ by ! date ! plan am5dm5t is adopt$4 #ddj;,a4 ,composite plan re/rictions to pres]ve legacy plan fund+ 7a7 ,treatm5t z a legacy plan 7#a7 ,9 g5]al ,= purposes ( ?is sub*apt]1 a def9$ b5efit plan %all be treat$ z a legacy plan ) respect to ! composite plan "u :i* employees :o 7 eligible to accrue a b5efit "u ! def9$ b5efit plan become eligible to accrue a b5efit "u su* composite plan4 7#b7 ,compon5t plans ,9 any case 9 :i* a def9$ b5efit plan is am5d$ to add a composite plan compon5t pursuant to section #dcg7;b71 p>agraph 7#a7 %all be appli$ by sub/itut+ def9$ b5efit compon5t = def9$ b5efit plan & composite plan compon5t = composite plan4 7#c7 ,eligible to accrue a b5efit ,= purposes ( p>agraph 7#a71 an employee is consid]$ eligible to accrue a b5efit "u a composite plan z ( ! fir/ day 9 :i* ! employee completes an h\r ( s]vice "u a collective b>ga9+ agreem5t t provides = contributions to & accruals "u ! composite plan 9 lieu ( accruals "u ! def9$ b5efit plan4 7#d7 ,collective b>ga9+ agreem5t ,z us$ 9 ?is "p1 ! t]m collective b>ga9+ agreem5t includes any agreem5t "u :i* an employ] has an obligation to contribute to a plan4 7#e7 ,o!r t]ms ,any t]m us$ 9 ?is "p :i* is n def9$ 9 ?is "p & :i* is also us$ 9 section #dcb %all h ! same mean+ provid$ su* t]m 9 su* section4 7b7 ,re/rictions on acceptance by composite plan ( agreem5ts & contributions 7#a7 ,9 g5]al ,! plan sponsor ( a composite plan %all n accept or recognize a collective b>ga9+ agreem5t 7or any modification to su* agreem5t71 & no contributions may be accept$ & no b5efits may be accru$ or o!rwise e>n$ "u ! agreem5t-- 7,a7 9 any case 9 :i* ! plan actu>y ( any def9$ b5efit plan t w\ld be treat$ z a legacy plan ) respect to su* composite plan has c]tifi$ "u section #dcb7;b77#d7 t su* def9$ b5efit plan is or w be 9 endang]$ or critical /atus = ! plan ye> 9 :i* su* agreem5t w\ld take effect or = any ( ! succe$+ #e plan ye>s1 & 7,b7 unless ! agreem5t requires ea* employ] :o is a p>ty to su* agreem5t1 includ+ employ]s ^: employees are n p>ticipants 9 ! legacy plan1 to provide contributions to ! legacy plan ) respect to su* composite plan 9 a mann] t satisfies ! transition contribution requirem5ts ( subsection 7d74 7#b7 ,notice ,n lat] ?an #cj days aft] a det]m9ation by a plan sponsor ( a composite plan t an agreem5t fails to satisfy ! requirem5ts describ$ 9 p>agraph 7#a71 ! plan sponsor %all provide notification ( su* failure & ! reasons = su* det]m9ation to-- 7,a7 ! p>ties to ! agreem5t1 7,b7 active p>ticipants ( ! composite plan :o h ceas$ to accrue or o!rwise e>n b5efits ) respect to s]vice ) an employ] pursuant to p>agraph 7#a71 & 7,c7 ! ,secret>y ( ,labor1 ! ,secret>y ( ! ,treasury1 & ! ,p5sion ,b5efit ,gu>anty ,corporation4 7#c7 ,limitation on retroactive effect ,?is subsection %all n apply to b5efits accru$ be=e ! date on :i* notice is provid$ "u p>agraph 7#b74 7c7 ,re/riction on accrual ( b5efits "u a composite plan 7#a7 ,9 g5]al ,9 any case 9 :i* an employ]1 "u a collective b>ga9+ agreem5t ent]$ into aft] ! date ( enactm5t ( ! ,*ris ,all5 ,multiemploy] ,p5sion ,recapitalization & ,re=m ,act ( #bjba1 ceases to h an obligation to contribute to a multiemploy] def9$ b5efit plan1 no employees employ$ by ! employ] may accrue or o!rwise e>n b5efits "u any composite plan1 ) respect to s]vice ) t employ]1 = a #fj-mon? p]iod beg9n+ on ! date on :i* ! employ] ent]$ into su* collective b>ga9+ agreem5t4 7#b7 ,notice ( cessation ( obligation ,)9 #cj days ( det]m9+ t an employ] has ceas$ to h an obligation to contribute to a legacy plan ) respect to employees employ$ by an employ] t is or w be contribut+ to a composite plan ) respect to s]vice ( su* employees1 ! plan sponsor ( ! legacy plan %all notify ! plan sponsor ( ! composite plan ( t cessation4 7#c7 ,notice ( cessation ( accruals ,n lat] ?an #cj days aft] det]m9+ t an employ] has ceas$ to h an obligation to contribute to a legacy plan1 ! plan sponsor ( ! composite plan %all notify ! b>ga9+ p>ties1 ! active p>ticipants affect$ by ! cessation ( accruals1 ! ,secret>y1 ! ,secret>y ( ,labor1 & ! ,p5sion ,b5efit ,gu>anty ,corporation ( ! cessation ( accruals1 ! p]iod dur+ :i* su* cessation is 9 effect1 & ! reasons !re=4 7#d7 ,limitation on retroactive effect ,?is subsection %all n apply to b5efits accru$ be=e ! date on :i* notice is provid$ "u p>agraph 7#c74 7d7 ,transition contribution requirem5ts 7#a7 ,9 g5]al ,a collective b>ga9+ agreem5t satisfies ! transition contribution requirem5ts ( ?is subsection if ! agreem5t-- 7,a7 au?orizes = paym5t ( contributions to a legacy plan at a rate1 or multiple rates1 z describ$ 9 p>agraph 7#b77;,b71 equal to or great] ?an ! transition contribution rate e/abli%$ "u p>agraph 7#b71 & 7,b7 does n provide =-- 7i7 a susp5sion ( contributions to ! legacy plan ) respect to any p]iod ( s]vice1 or 7ii7 any new direct or indirect exclusion ( y\ng] or newly hir$ employees ( ! employ] f be+ tak5 into acc\nt 9 det]m9+ contributions ow$ to ! legacy plan4 7#b7 ,transition contribution rate 7,a7 ,9 g5]al ,! transition contribution rate = a plan ye> is ! contribution rate t1 z c]tifi$ by ! actu>y ( ! legacy plan 9 accordance ) ! pr9ciples 9 section #dcb7;b77#d77;,b71 is reasonably expect$ to be adequate-- 7i7 to fund ! normal co/ = ! plan ye>1 7ii7 to amortize ! plan's unfund$ liabilities 9 level annual in/allm5ts ov] #be ye>s1 beg9n+ ) ! plan ye> 9 :i* ! transition contribution rate is fir/ e/abli%$1 & 7iii7 to amortize any subsequ5t *anges 9 ! legacy plan's unfund$ liability due to exp]i5ce ga9s or losses 7includ+ inve/m5t ga9s or losses1 ga9s or losses due to contributions great] or less ?an ! contributions made "u ! prior transition contribution rate1 & o!r actu>ial ga9s or losses71 *anges 9 actu>ial assumptions1 *anges to ! legacy plan's b5efits1 or *anges 9 fund+ me?od ov] a p]iod ( #ae plan ye>s beg9n+ ) ! plan ye> foll[+ ! plan ye> 9 :i* su* *ange 9 unfund$ liability is incurr$1 unless o!rwise prescrib$4 ,! transition contribution rate = any plan ye> may n be less ?an ! transition contribution rate = ! plan ye> 9 :i* su* rate is fir/ e/abli%$4 7,b7 ,multiple rates ,if diff]5t rates ( contribution are payable to ! legacy plan by diff]5t employ]s or = diff]5t classes ( employees1 ! c]tification by ! actu>y ( ! legacy plan %all specify a transition contribution rate = ea* su* employ] or class ( employees4 7,c7 ,rate applicable to employ] 7i7 ,9 g5]al ,except z provid$ by clause 7ii71 ! transition contribution rate applicable to an employ] = a plan ye> is ! rate 9 effect = ! plan ye> ( ! legacy plan t comm5ces on or aft] #ahj days be=e ! e>li] (-- 7,i7 ! effective date ( ! collective b>ga9+ agreem5t pursuant to :i* ! employ] contributes to ! legacy plan1 or 7,,ii7 #e ye>s aft] ! la/ plan ye> = :i* ! transition contribution rate applicable to ! employ] 0 e/abli%$ or updat$4 7ii7 ,exception ,! transition contribution rate applicable to an employ] = ! fir/ plan ye> beg9n+ on or aft] ! comm5cem5t ( ! employ]'s obligation to contribute to ! composite plan is ! rate 9 effect = ! plan ye> ( ! legacy plan t comm5ces on or aft] #ahj days be=e su* fir/ plan ye>4 7,d7 ,effect ( legacy plan f9ancial circum/ances ,if ! plan actu>y ( ! legacy plan has c]tifi$ "u section #dcb t ! plan is 9 endang]$ or critical /atus = a plan ye>1 ! transition contribution rate = ! foll[+ plan ye> is ! rate det]m9$ ) respect to ! employ] "u ! legacy plan's fund+ improvem5t or rehabilitation plan "u section #dcb1 if great] ?an ! rate o!rwise det]m9$1 b 9 no ev5t %all ! transition contribution rate be great] ?an #ge p]c5t ( ! sum ( ! contribution rates applicable to ! legacy plan & ! composite plan = ! plan ye>4 ,not)/&+ ! prec$+ s5t5ce1 if ! transition contribution rate 9 ! prior ye> is m ?an #ge p]c5t ( ! sum ( ! contribution rates applicable to ! legacy plan & ! composite plan = ! prior plan ye>1 ! transition contribution rate applicable to ! legacy plan %all n be subject to ! #ge-p]c5t limitation1 b %all be nei!r increas$ nor r$uc$ z a p]c5tage ( ! sum ( ! contribution rates applicable to ! legacy plan & ! composite plan = ! plan ye>4 7,e7 ,o!r actu>ial assumptions & me?ods ,except z provid$ 9 subp>agraph 7,a71 ! det]m9ation ( ! transition contribution rate = a plan ye> %all be bas$ on actu>ial assumptions & me?ods consi/5t ) ! m9imum fund+ det]m9ations made "u section #dca 7or1 if applicable1 section #dcb7 ) respect to ! legacy plan = ! plan ye>4 7,f7 ,adju/m5ts 9 rate ,! plan sponsor ( a legacy plan f "t to "t may adju/ ! transition contribution rate or rates applicable to an employ] "u ?is p>agraph by increas+ "s rates & decreas+ o!rs if ! actu>y c]tifies t su* adju/$ rates 9 comb9ation w produce project$ contribution income = ! plan ye> beg9n+ on or aft] ! date ( c]tification t is n less ?an w\ld be produc$ by ! transition contribution rates 9 effect at ! "t ( ! c]tification4 7,g7 ,notice ( transition contribution rate ,! plan sponsor ( a legacy plan %all provide notice to ! p>ties to collective b>ga9+ agreem5ts pursuant to :i* contributions are made to ! legacy plan ( *anges to ! transition contribution rate requirem5ts at lea/ #cj days be=e ! beg9n+ ( ! plan ye> = :i* ! rate is effective4 7,h7 ,notice to composite plan sponsor ,n lat] ?an #cj days aft] a det]m9ation by ! plan sponsor ( a legacy plan t a collective b>ga9+ agreem5t provides = a rate ( contributions t is bel[ ! transition contribution rate applicable to "o or m employ]s t are p>ties to ! collective b>ga9+ agreem5t1 ! plan sponsor ( ! legacy plan %all notify ! plan sponsor ( any composite plan "u :i* employees ( su* employ] w\ld o!rwise be eligible to accrue a b5efit4 7#c7 ,correction proc$ures ,pursuant to /&>ds prescrib$ by ! ,secret>y ( ,labor1 ! plan sponsor ( a composite plan %all adopt rules & proc$ures t give ! p>ties to ! collective b>ga9+ agreem5t notice ( ! failure ( su* agreem5t to satisfy ! transition contribution requirem5ts ( ?is subsection1 & a reasonable opportunity to correct su* failure1 n to exce$ #ahj days f ! date ( notice giv5 "u subsection 7b77#b74 7#d7 ,supplem5tal contributions ,a collective b>ga9+ agreem5t may provide = supplem5tal contributions to ! legacy plan = a plan ye> 9 excess ( ! transition contribution rate det]m9$ "u p>agraph 7#b71 reg>dless ( :e!r ! legacy plan is 9 endang]$ or critical /atus = su* plan ye>4 7e7 ,nonapplication ( composite plan re/rictions 7#a7 ,9 g5]al ,! provisions ( subsections 7a71 7b71 & 7c7 %all n apply ) respect to a collective b>ga9+ agreem5t1 to ! ext5t ! agreem5t1 or a pr$ecessor agreem5t1 provides or provid$ = contributions to a def9$ b5efit plan t is a legacy plan1 z ( ! fir/ day ( ! fir/ plan ye> foll[+ a plan ye> = :i* ! plan actu>y c]tifies t ! plan is fully fund$1 has be5 fully fund$ = at lea/ ?ree out ( ! imm$iately prec$+ #e plan ye>s1 & is project$ to rema9 fully fund$ = at lea/ ! foll[+ #d plan ye>s4 7#b7 ,det]m9ation ( fully fund$ ,a plan is fully fund$ = purposes ( p>agraph 7#a7 if1 z ( ! valuation date ( ! plan = a plan ye>1 ! value ( ! plan's assets equals or exce$s ! pres5t value ( ! plan's liabilities1 det]m9$ 9 accordance ) ! rules prescrib$ by ! ,p5sion ,b5efit ,gu>anty ,corporation "u sections #dbai7;c77#a77;,d7 & #dbha ( ,employee ,retirem5t ,income & ,security ,act = multiemploy] plans t]m9at+ by mass )drawal1 z 9 effect = ! date ( ! det]m9ation1 except ! plan's reasonable assumption reg>d+ ! />t+ date ( b5efits may be us$4 7#c7 ,o!r applicable rules ,except z provid$ 9 p>agraph 7#b71 actu>ial det]m9ations & projections "u ?is section %all be bas$ on ! rules 9 section #dch7;b74 #ddj;,b4 ,m]g]s & asset transf]s ( composite plans 7a7 ,9 g5]al ,assets & liabilities ( a composite plan may only be m]g$ )1 or transf]r$ to1 ano!r plan if-- 7#a7 ! o!r plan is a composite plan1 7#b7 ! plan or plans result+ f ! m]g] or transf] is a composite plan1 7#c7 no p>ticipant's accru$ b5efit or adju/able b5efit is l[] imm$iately aft] ! transaction ?an x 0 imm$iately be=e ! transaction1 & 7#d7 ! value ( ! assets transf]r$ 9 ! case ( a transf] reasonably reflects ! value ( ! am\nts contribut$ ) respect to ! p>ticipants ^: b5efits are be+ transf]r$1 adju/$ = allocable di/ributions1 inve/m5t ga9s & losses1 & adm9i/rative exp5ses4 ,a plan :i* is n a composite plan may n m]ge ) or transf] assets & liabilities to a composite plan4 7b7 ,legacy plan 7#a7 ,9 g5]al ,aft] a m]g] or transf] involv+ a composite plan1 ! legacy plan ) respect to an employ] t is obligat$ to contribute to ! result+ composite plan is ! legacy plan t appli$ to t employ] imm$iately be=e ! m]g] or transf]4 7#b7 ,multiple ,legacy ,plans ,if an employ] is obligat$ to contribute to m ?an "o legacy plan ) respect to employees eligible to accrue b5efits "u m ?an "o composite plan & !re is a m]g] or transf] ( su* legacy plans1 ! transition contribution rate applicable to ! legacy plan result+ f ! m]g] or transf] ) respect to t employ] %all be det]m9$ 9 accordance ) ! provisions ( section #ddj;,a7d77#b77;,b74 4 7#b7 ,cl]ical am5dm5t ,! table ( p>ts = sub*apt] ,d ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new item3 ,"p ,,iv--,composite ,plans & ,legacy ,plans 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 #ejb4 ,application ( c]ta9 requirem5ts to composite plans 7a7 ,am5dm5ts to ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#a7 ,treatm5t = purposes ( fund+ notices ,section #aja7;f7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajba7;f771 z am5d$ by ?is ,act1 is fur!r am5d$-- 7,a7 9 p>agraph 7#a7 by /rik+ title ,,iv applies & ins]t+ title ,,iv applies or :i* is a composite plan2 & 7,b7 by add+ at ! end ! foll[+3 7#e7 ,application to composite plans ,! provisions ( ?is subsection %all apply to a composite plan only to ! ext5t prescrib$ by ! ,secret>y 9 regulations t take into acc\nt ! diff]5ces betwe5 a composite plan & a def9$ b5efit plan t is a multiemploy] plan4 4 7#b7 ,treatm5t = purposes ( annual report ,section #ajc ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajbc7 is am5d$-- 7,a7 9 subsection 7d7 by add+ at ! end ! foll[+ s5t5ce3 ,! provisions ( ?is subsection %all apply to a composite plan only to ! ext5t prescrib$ by ! ,secret>y 9 regulations t take into acc\nt ! diff]5ces betwe5 a composite plan & a def9$ b5efit plan t is a multiemploy] plan42 7,b7 9 subsection 7f7 by add+ at ! end ! foll[+3 7#c7 ,additional in=mation = composite plans ,) respect to any composite plan-- 7,a7 ! provisions ( p>agraph 7#a77;,a7 %all apply by sub/itut+ curr5t fund$ ratio & project$ fund$ ratio 7z su* t]ms are def9$ 9 section #hjb7;a77#b77 = fund$ p]c5tage ea* place x appe>s2 & 7,b7 ! provisions ( p>agraph 7#b7 %all apply only to ! ext5t prescrib$ by ! ,secret>y 9 regulations t take into acc\nt ! diff]5ces betwe5 a composite plan & a def9$ b5efit plan t is a multiemploy] plan4 2 & 7,c7 by add+ at ! end ! foll[+3 7h7 ,composite plans ,a multiemploy] plan t incorporates ! features ( a composite plan z provid$ 9 section #hja7;b7 %all be treat$ z a s+le plan = purposes ( ! report requir$ by ?is section1 except t sep>ate f9ancial /atem5ts & actu>ial /atem5ts %all be provid$ "u p>agraphs 7#c7 & 7#d7 ( subsection 7a7 = ! def9$ b5efit plan compon5t & = ! composite plan compon5t ( ! multiemploy] plan4 4 7#c7 ,treatm5t = purposes ( p5sion b5efit /atem5ts ,section #aje7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajbe7;a77 is am5d$ by add+ at ! end ! foll[+3 7#d7 ,composite plans ,= purposes ( ?is subsection1 a composite plan %all be treat$ z a def9$ b5efit plan to ! ext5t prescrib$ by ! ,secret>y 9 regulations t take into acc\nt ! diff]5ces betwe5 a composite plan & a def9$ b5efit plan t is a multiemploy] plan4 4 7b7 ,am5dm5ts to ! ,int]nal ,rev5ue ,code ( #aihf ,section #fjeh ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subsection 7f7 z subsection 7g7 & by ins]t+ aft] subsection 7e7 ! foll[+3 7f7 ,composite plans ,a multiemploy] plan t incorporates ! features ( a composite plan z provid$ 9 section #dcg7;b7 %all be treat$ z a s+le plan = purposes ( ! return requir$ by ?is section1 except t sep>ate f9ancial /atem5ts %all be provid$ = ! def9$ b5efit plan compon5t & = ! composite plan compon5t ( ! multiemploy] plan4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 #ejc4 ,treatm5t ( composite plans "u title ,,iv 7a7 ,def9ition ,section #djja7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acja7;a77 is am5d$ by /rik+ ! p]iod at ! end ( p>agraph 7#ba7 & ins]t+ a semicolon & by add+ at ! end ! foll[+3 7#bb7 ,composite plan ,! t]m composite plan has ! mean+ set =? 9 section #hja4 4 7b7 ,composite plans disreg>d$ = calculat+ premiums ,section #djjf7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjf7;a77 is am5d$ by add+ at ! end ! foll[+3 7#i7 ,! composite plan compon5t ( a multiemploy] plan %all be disreg>d$ 9 det]m9+ ! premiums due "u ?is section f ! multiemploy] plan4 4 7c7 ,composite plans n cov]$ ,section #djba7;b77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acba7;b77#a77 is am5d$ by /rik+ ,act & ins]t+ ,act1 or a composite plan1 z def9$ 9 p>agraph 7#dc7 ( section #c ( ?is ,act4 7d7 ,no )drawal liability ,section #dbja ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acha7 is am5d$ by add+ at ! end ! foll[+3 7c7 ,contributions by an employ] to ! composite plan compon5t ( a multiemploy] plan %all n be tak5 into acc\nt = any purpose "u ?is title4 4 7e7 ,no )drawal liability = c]ta9 plans ,section #dbja ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acha7 is fur!r am5d$ by add+ at ! end ! foll[+3 7d7 ,contributions by an employ] to a multiemploy] plan describ$ 9 ! except clause ( section #c7ce7 ( ?is ,act pursuant to a collective b>ga9+ agreem5t t specifically designates t su* contributions %all be allocat$ to ! sep>ate def9$ contribution acc\nts ( p>ticipants "u ! plan %all n be tak5 into acc\nt ) respect to ! def9$ b5efit portion ( ! plan = any purpose "u ?is title 7includ+ ! det]m9ation ( ! employ]'s highe/ contribution rate "u section #dbai71 ev5 if1 "u ! t]ms ( ! plan1 p>ticipants h ! option to transf] assets 9 _! sep>ate def9$ contribution acc\nts to ! def9$ b5efit portion ( ! plan 9 return = s]vice cr$it "u ! def9$ b5efit portion1 at rates e/abli%$ by ! plan sponsor4 7e7 ,a legacy plan creat$ "u section #hje %all be deem$ to h no unfund$ ve/$ b5efits = purposes ( ?is "p1 = ea* plan ye> foll[+ a p]iod ( #e consecutive plan ye>s = :i*-- 7#a7 ! plan 0 fully fund$ )9 ! mean+ ( section #hje = at lea/ #c ( ! plan ye>s dur+ t p]iod1 end+ ) a plan ye> = :i* ! plan is fully fund$2 7#b7 ! plan _h no unfund$ ve/$ b5efits = at lea/ #c ( ! plan ye>s dur+ t p]iod1 end+ ) a plan ye> = :i* ! plan is fully fund$2 & 7#c7 ! plan is project$ to be fully fund$ & to h no unfund$ ve/$ b5efits = ! foll[+ f\r plan ye>s4 4 7f7 ,no )drawal liability = employ]s contribut+ to c]ta9 fully fund$ legacy plans ,section #dbaa ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #achb7 is am5d$ by add+ at ! end ! foll[+3 7g7 ,legacy plans ,no am\nt ( unfund$ ve/$ b5efits %all be allocat$ to an employ] t has an obligation to contribute to a legacy plan describ$ 9 subsection 7e7 ( section #dbja = ea* plan ye> = :i* su* subsection applies4 4 7g7 ,no obligation ,to contribute ,section #dbab ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acib7 is am5d$ by add+ at ! end ! foll[+3 7d7 ,no obligation ,to contribute ,an employ] %all n be treat$ z hav+ an obligation to contribute to a multiemploy] def9$ b5efit plan )9 ! mean+ ( subsection 7a7 solely because-- 7#a7 9 ! case ( a multiemploy] plan t includes a composite plan compon5t1 ! employ] has an obligation to contribute to ! composite plan compon5t ( ! plan2 7#b7 ! employ] has an obligation to contribute to a composite plan t is ma9ta9$ pursuant to "o or m collective b>ga9+ agreem5ts "u :i* ! multiemploy] def9$ b5efit plan is or previ\sly 0 ma9ta9$2 or 7#c7 ! employ] contributes or has contribut$ "u section #hje7;d7 to a legacy plan associat$ ) a composite plan pursuant to a collective b>ga9+ agreem5t b employees ( t employ] 7 n eligible to accrue b5efits "u ! legacy plan ) respect to s]vice ) t employ]4 4 7h7 ,no inf]5ce ,no?+ 9 ! am5dm5t made by subsection 7e7 %all be con/ru$ to create an inf]5ce ) respect to ! treatm5t "u title ,,iv ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd1 z 9 effect be=e su* am5dm5t1 ( contributions by an employ] to a multiemploy] plan describ$ 9 ! except clause ( section #c7ce7 ( su* ,act t are made be=e ! effective date ( subsection 7e7 specifi$ 9 subsection 7h77#b74 7i7 ,effective date 7#a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7#b71 ! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,special rule = section #dad7k7 multiemploy] plans ,! am5dm5t made by subsection 7e7 %all apply only to requir$ contributions payable = plan ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 #ejd4 ,con=m+ *anges 7a7 ,def9itions 7#a7 ,am5dm5t to ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #c ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajjb7 is am5d$-- 7,a7 9 p>agraph 7#ce71 by ins]t+ or a composite plan aft] o!r ?an an individual acc\nt plan2 & 7,b7 by add+ at ! end ! foll[+3 7#dc7 ,! t]m composite plan has ! mean+ giv5 ! t]m 9 section #hja7;a74 4 7#b7 ,am5dm5t to ,int]nal ,rev5ue ,code ( #aihf ,section #dad7;j7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 1 o!r ?an a composite plan 7z def9$ 9 section #dcg7;a771 aft] any plan4 7b7 ,special fund+ rule = c]ta9 legacy plans 7#a7 ,am5dm5t to ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #cjd7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhd7;b771 z am5d$ by ?is ,act1 is am5d$ by add+ at ! end ! foll[+3 7#aj7 ,special fund+ rule = c]ta9 legacy plans ,9 ! case ( a multiemploy] def9$ b5efit plan t has adopt$ an am5dm5t "u section #hja7;b71 9 accordance ) :i* no fur!r b5efits %all accrue "u ! multiemploy] def9$ b5efit plan1 ! plan sponsor may comb9e ! out/&+ balance ( all *>ge & cr$it bases & amortize t comb9$ base 9 level annual in/allm5ts 7until fully amortiz$7 ov] a p]iod ( #be plan ye>s beg9n+ ) ! plan ye> foll[+ ! date all b5efit accruals ceas$1 b only if ! plan is n 9 endang]$ or critical /atus "u section #cje4 4 7#b7 ,am5dm5t to ,int]nal ,rev5ue ,code ( #aihf ,section #dca7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by ?is ,act1 is am5d$ by add+ at ! end ! foll[+3 7#aj7 ,special fund+ rule = c]ta9 legacy plans ,9 ! case ( a multiemploy] def9$ b5efit plan t has adopt$ an am5dm5t "u section #dcg7;b71 9 accordance ) :i* no fur!r b5efits %all accrue "u ! multiemploy] def9$ b5efit plan1 ! plan sponsor may comb9e ! out/&+ balance ( all *>ge & cr$it bases & amortize t comb9$ base 9 level annual in/allm5ts 7until fully amortiz$7 ov] a p]iod ( #be plan ye>s beg9n+ ) ! plan ye> foll[+ ! date on :i* all b5efit accruals ceas$1 b only if ! plan is n 9 endang]$ or critical /atus "u section #dcb4 4 7c7 ,b5efits aft] m]g]1 consolidation1 or transf] ( assets 7#a7 ,am5dm5t to ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #bjh ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajeh7 is am5d$-- 7,a7 by /rik+ s mu* ( ! fir/ s5t5ce z prec$es may n m]ge & ins]t+ ! foll[+3 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 a p5sion plan may n m]ge1 & 2 & 7,b7 by /rik+ ! second s5t5ce & add+ at ! end ! foll[+3 7#b7 ,special requirem5ts = multiemploy] plans ,p>agraph 7#a7 %all n apply to any transaction to ! ext5t t p>ticipants ei!r be=e or aft] ! transaction are cov]$ "u a multiemploy] plan to :i* title ,,iv ( ?is ,act applies or a composite plan4 4 7#b7 ,am5dm5ts to ,int]nal ,rev5ue ,code ( #aihf 7,a7 ,qualification requirem5t ,section #dja7;a77#ab7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7i7 by /rik+ 7#ab7 ,a tru/ & ins]t+ ! foll[+3 7#ab7 ,b5efits aft] m]g]1 consolidation1 or transf] ( assets 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 a tru/ 2 7ii7 by /rik+ ! second s5t5ce2 & 7iii7 by add+ at ! end ! foll[+3 7,b7 ,special requirem5ts = multiemploy] plans ,subp>agraph 7,a7 %all n apply to any multiemploy] plan ) respect to any transaction to ! ext5t t p>ticipants ei!r be=e or aft] ! transaction are cov]$ "u a multiemploy] plan to :i* title ,,iv ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd applies or a composite plan4 4 7,b7 ,additional qualification requirem5t ,p>agraph 7#a7 ( section #dad7l7 ( su* ,code is am5d$-- 7i7 by /rik+ 7#a7 ,9 g5]al & all t foll[s ?r\gh %all n con/itute & ins]t+ ! foll[+3 7#a7 ,b5efit protections3 m]g]1 consolidation1 transf] 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 a tru/ :i* =ms a "p ( a plan %all n con/itute 2 7ii7 by /rik+ ! second s5t5ce2 & 7iii7 by add+ at ! end ! foll[+3 7,b7 ,special requirem5ts = multiemploy] plans ,subp>agraph 7,a7 does n apply to any multiemploy] plan ) respect to any transaction to ! ext5t t p>ticipants ei!r be=e or aft] ! transaction are cov]$ "u a multiemploy] plan to :i* title ,,iv ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd applies or a composite plan4 4 7d7 ,requirem5ts = /atus z a qualifi$ plan 7#a7 ,requirem5t t actu>ial assumptions be specifi$ ,section #dja7;a77#be7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 79 ! case ( a composite plan1 b5efits objectively calculat$ pursuant to a =mula7 aft] def9itely det]m9able b5efits4 7#b7 ,miss+ p>ticipants 9 t]m9at+ composite plan ,section #dja7;a77#cd7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ 1 a tru/ & ins]t+ or a composite plan1 a tru/4 7e7 ,d$uction = contributions to a qualifi$ plan ,section #djd7;a77#a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subp>agraph 7,e7 z subp>agraph 7,f7 & by ins]t+ aft] subp>agraph 7,d7 ! foll[+3 7,e7 ,composite plans 7i7 ,9 g5]al ,9 ! case ( a composite plan1 subp>agraph 7,d7 %all n apply & ! maximum am\nt d$uctible = a plan ye> %all be ! excess 7if any7 (-- 7,i7 #adj p]c5t ( ! great] (-- 7aa7 ! curr5t liability ( ! plan det]m9$ 9 accordance ) ! pr9ciples ( section #dca7;c77#f77;,d71 or 7bb7 ! pres5t value ( plan liabilities z det]m9$ "u section #dch1 ov] 7,,ii7 ! fair m>ket value ( ! plan's assets1 project$ to ! end ( ! plan ye>4 7ii7 ,special rules = pr$ecessor multiemploy] plan to composite plan 7,i7 ,9 g5]al ,except z provid$ 9 subclause 7,,ii71 if an employ] contributes to a composite plan ) respect to its employees1 contributions by t employ] to a legacy plan ) respect to "s or all ( ! same gr\p ( employees %all be d$uctible "u sections #afb & ?is section1 subject to ! limits 9 subp>agraph 7,d74 7,,ii7 ,transition contribution ,! full am\nt ( a contribution to satisfy ! transition contribution requirem5t 7z def9$ 9 section #ddj;,a7d77 & allocat$ to ! legacy def9$ b5efit plan = ! plan ye> %all be d$uctible = ! employ]'s taxable ye> end+ ) or )9 ! plan ye>4 4 7f7 ,m9imum ve/+ /&>ds 7#a7 ,ye>s ( s]vice "u composite plans 7,a7 ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #bjc ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajec7 is am5d$ by ins]t+ aft] subsection 7f7 ! foll[+3 7g7 ,special rules = comput+ ye>s ( s]vice "u composite plans 7#a7 ,9 g5]al ,9 det]m9+ a qualifi$ employee's ye>s ( s]vice "u a composite plan = purposes ( ?is section1 ! employee's ye>s ( s]vice "u a legacy plan %all be treat$ z ye>s ( s]vice e>n$ "u ! composite plan4 ,= purposes ( su* det]m9ation1 a composite plan %all n be treat$ z a def9$ b5efit plan pursuant to section #hja7;d74 7#b7 ,qualifi$ employee ,= purposes ( ?is subsection1 an employee is a qualifi$ employee if ! employee fir/ completes an h\r ( s]vice "u ! composite plan 7det]m9$ )\t reg>d to ! provisions ( ?is subsection7 )9 ! #ab-mon? p]iod imm$iately prec$+ or ! #bd-mon? p]iod imm$iately foll[+ ! date ! employee ceas$ to accrue b5efits "u ! legacy plan4 7#c7 ,c]tification ( ye>s ( s]vice ,= purposes ( p>agraph 7#a71 ! plan sponsor ( ! composite plan %all rely on a writt5 c]tification by ! plan sponsor ( ! legacy plan ( ! ye>s ( s]vice ! qualifi$ employee complet$ "u ! def9$ b5efit plan z ( ! date ! employee satisfies ! requirem5ts ( p>agraph 7#b71 disreg>d+ any ye>s ( s]vice t _h be5 =feit$ "u ! rules ( ! def9$ b5efit plan be=e t date unless contr>y to s]vice records provid$ by ! p>ticipant4 ,9 ! case ( a conflict1 ! plan sponsor %all evaluate ! evid5ce & make a reasonable factual det]m9ation4 7h7 ,special rules = comput+ ye>s ( s]vice "u legacy plans 7#a7 ,9 g5]al ,9 det]m9+ a qualifi$ employee's ye>s ( s]vice "u a legacy plan = purposes ( ?is section1 & 9 addition to any s]vice "u applicable regulations1 ! employee's ye>s ( s]vice "u a composite plan %all be treat$ z ye>s ( s]vice e>n$ "u ! legacy plan4 ,= purposes ( su* det]m9ation1 a composite plan %all n be treat$ z a def9$ b5efit plan pursuant to section #hja7;d74 7#b7 ,qualifi$ employee ,= purposes ( ?is subsection1 an employee is a qualifi$ employee if ! employee fir/ completes an h\r ( s]vice "u ! composite plan 7det]m9$ )\t reg>d to ! provisions ( ?is subsection7 )9 ! #ab-mon? p]iod imm$iately prec$+ or ! #bd-mon? p]iod imm$iately foll[+ ! date ! employee ceas$ to accrue b5efits "u ! legacy plan4 7#c7 ,c]tification ( ye>s ( s]vice ,= purposes ( p>agraph 7#a71 ! plan sponsor ( ! legacy plan %all rely on a writt5 c]tification by ! plan sponsor ( ! composite plan ( ! ye>s ( s]vice ! qualifi$ employee complet$ "u ! composite plan aft] ! employee satisfies ! requirem5ts ( p>agraph 7#b71 disreg>d+ any ye>s ( s]vice t has be5 =feit$ "u ! rules ( ! composite plan unless contr>y to s]vice records provid$ by ! p>ticipant4 ,9 ! case ( a conflict1 ! plan sponsor %all evaluate ! evid5ce & make a reasonable factual det]m9ation4 4 7,b7 ,int]nal ,rev5ue ,code ( #aihf ,section #daa7;a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 7#ad7 ,special rules = det]m9+ ye>s ( s]vice "u composite plans 7,a7 ,9 g5]al ,9 det]m9+ a qualifi$ employee's ye>s ( s]vice "u a composite plan = purposes ( ?is subsection1 ! employee's ye>s ( s]vice "u a legacy plan %all be treat$ z ye>s ( s]vice e>n$ "u ! composite plan4 ,= purposes ( su* det]m9ation1 a composite plan %all n be treat$ z a def9$ b5efit plan pursuant to section #dcg7;d74 7,b7 ,qualifi$ employee ,= purposes ( ?is p>agraph1 an employee is a qualifi$ employee if ! employee fir/ completes an h\r ( s]vice "u ! composite plan 7det]m9$ )\t reg>d to ! provisions ( ?is p>agraph7 )9 ! #ab-mon? p]iod imm$iately prec$+ or ! #bd-mon? p]iod imm$iately foll[+ ! date ! employee ceas$ to accrue b5efits "u ! legacy plan4 7,c7 ,c]tification ( ye>s ( s]vice ,= purposes ( subp>agraph 7,a71 ! plan sponsor ( ! composite plan %all rely on a writt5 c]tification by ! plan sponsor ( ! legacy plan ( ! ye>s ( s]vice ! qualifi$ employee complet$ "u ! legacy plan z ( ! date ! employee satisfies ! requirem5ts ( subp>agraph 7,b71 disreg>d+ any ye>s ( s]vice t _h be5 =feit$ "u ! rules ( ! def9$ b5efit plan be=e t date unless contr>y to s]vice records provid$ by ! p>ticipant4 ,9 ! case ( a conflict1 ! plan sponsor %all evaluate ! evid5ce & make a reasonable factual det]m9ation4 7#ae7 ,special rules = comput+ ye>s ( s]vice "u legacy plans 7,a7 ,9 g5]al ,9 det]m9+ a qualifi$ employee's ye>s ( s]vice "u a legacy plan = purposes ( ?is section1 & 9 addition to any s]vice "u applicable regulations1 ! employee's ye>s ( s]vice "u a composite plan %all be treat$ z ye>s ( s]vice e>n$ "u ! legacy plan4 ,= purposes ( su* det]m9ation1 a composite plan %all n be treat$ z a def9$ b5efit plan pursuant to section #dcg7;d74 7,b7 ,qualifi$ employee ,= purposes ( ?is p>agraph1 an employee is a qualifi$ employee if ! employee fir/ completes an h\r ( s]vice "u ! composite plan 7det]m9$ )\t reg>d to ! provisions ( ?is p>agraph7 )9 ! #ab-mon? p]iod imm$iately prec$+ or ! #bd-mon? p]iod imm$iately foll[+ ! date ! employee ceas$ to accrue b5efits "u ! legacy plan4 7,c7 ,c]tification ( ye>s ( s]vice ,= purposes ( subp>agraph 7,a71 ! plan sponsor ( ! legacy plan %all rely on a writt5 c]tification by ! plan sponsor ( ! composite plan ( ! ye>s ( s]vice ! qualifi$ employee complet$ "u ! composite plan aft] ! employee satisfies ! requirem5ts ( subp>agraph 7,b71 disreg>d+ any ye>s ( s]vice t has be5 =feit$ "u ! rules ( ! composite plan unless contr>y to s]vice records provid$ by ! p>ticipant4 ,9 ! case ( a conflict1 ! plan sponsor %all evaluate ! evid5ce & make a reasonable factual det]m9ation4 4 7#b7 ,r$uction ( b5efits 7,a7 ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #bjc7;a77#c77;,e77ii7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajec7;a77#c77;,e77ii77 is am5d$-- 7i7 9 subclause 7,i7 by /rik+ #dbdd;,a & ins]t+ #cje7;f71 #hjc12 & 7ii7 9 subclause 7,,ii7 by /rik+ #dbde & ins]t+ #cje7;f71 #dbde14 7,b7 ,int]nal ,rev5ue ,code ( #aihf ,section #daa7;a77#c77;,f7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7i7 9 clause 7i7 by /rik+ section #dah;,d or "u section #dbha ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd & ins]t+ section #dcb7;f7 or #dci or "u section #dbha ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd2 & 7ii7 9 clause 7ii7 by ins]t+ or #dcb7;f7 aft] section #dah;,e4 7#c7 ,accru$ b5efit requirem5ts 7,a7 ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #bjd7;b77#a77;,b77i7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajed7;b77#a77;,b77i77 is am5d$ by ins]t+ 1 includ+ an am5dm5t r$uc+ or susp5d+ b5efits "u section #cje7;f71 #hjc1 #dbde or #dbha1 aft] any am5dm5t to ! plan4 7,b7 ,int]nal ,rev5ue ,code ( #aihf ,section #daa7;b77#a77;,b77i7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 1 includ+ an am5dm5t r$uc+ or susp5d+ b5efits "u section #dah;,e1 #dcb7;f7 or #dci1 or "u section #dbha ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd1 aft] any am5dm5t to ! plan4 7#d7 ,additional accru$ b5efit requirem5ts 7,a7 ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #bjd7;b77#a77;,h77v7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajec7;b77#a77;,h77v77 is am5d$ by ins]t+ be=e ! p]iod at ! end ! foll[+3 1 or b5efits are r$uc$ or susp5d$ "u section #cje7;f71 #hjc1 #dbde1 or #dbha4 7,b7 ,int]nal ,rev5ue ,code ( #aihf ,section #daa7;b77#a77;,h77iv7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7i7 9 ! head+ by /rik+ b5efit & ins]t+ b5efit & ! susp5sion & r$uction ( c]ta9 b5efits2 & 7ii7 9 ! text by ins]t+ be=e ! p]iod at ! end ! foll[+3 1 or b5efits are r$uc$ or susp5d$ "u section #dah;,e1 #dcb7;f71 or #dci1 or "u section #dbha ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd4 7#e7 ,accru$ b5efit n to be decreas$ by am5dm5t 7,a7 ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #bjd7;g77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajec7;g77#a77 is am5d$ by ins]t+ aft] #cjb7;d77#b7 ! foll[+3 1 #cje7;f71 #hjc1 #dbde14 7,b7 ,int]nal ,rev5ue ,code ( #aihf ,section #daa7;d77#f77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] #dab7;d77#b71 ! foll[+3 #dah;,e1 #dcb7;f71 or #dci14 7g7 ,c]ta9 fund+ rules n applicable 7#a7 ,employee ,retirem5t ,income ,security ,act ( #aigd ,section #cje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhe71 z am5d$ by section #bab7;a7 & z 9 effect be=e ! am5dm5ts made by section #bab o!r ?an subsection 7a7 !re(1 is fur!r am5d$ by add+ at ! end ! foll[+3 7l7 ,legacy plans ,?is section & sections #cjb & #cjd %all n apply to an employ] t has an obligation to contribute to a plan t is a legacy plan )9 ! mean+ ( section #hje7;a7 solely because ! employ] has an obligation to contribute to a composite plan describ$ 9 section #hja t is associat$ ) t legacy plan4 4 7#b7 ,int]nal ,rev5ue ,code ( #aihf ,section #dcb ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by section #baa7;a7 & z 9 effect be=e ! am5dm5ts made by section #baa o!r ?an subsection 7a7 !re(1 is fur!r am5d$ by add+ at ! end ! foll[+3 7l7 ,legacy plans ,?is section & sections #dab & #dca %all n apply to an employ] t has an obligation to contribute to a plan t is a legacy plan )9 ! mean+ ( section #ddj;,a7a7 solely because ! employ] has an obligation to contribute to a composite plan describ$ 9 section #dcg t is associat$ ) t legacy plan4 4 7h7 ,t]m9ation ( composite plan ,section #djc7;d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #aajc7;d77 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ regulations ( ! ,secret>y4 & ins]t+ regulations ( ! ,secret>y1 or z provid$ 9 p>agraph 7#c742 & 7#b7 by add+ at ! end ! foll[+3 7#c7 ,section #djdd7;a7 ( ?is ,act %all be appli$ 9 ! case ( ! t]m9ation ( a composite plan by-- 7,a7 limit+ ! b5efits subject to p>agraph 7#c7 !re( to b5efits z def9$ 9 section #hjb7;b77#c77;,b72 & 7,b7 includ+ 9 ! b5efits subject to p>agraph 7#d7 all o!r b5efits 7if any7 ( individuals "u ! plan t w\ld be gu>ante$ "u section #djbb;,a if ! plan 7 subject to title ,,iv4 4 7i7 ,good fai? compliance prior to guidance ,:]e ! implem5tation ( any provision ( law add$ or am5d$ by ?is ,act is subject to issuance ( regulations by ! ,secret>y ( ,labor1 ! ,secret>y ( ! ,treasury1 or ! ,p5sion ,b5efit ,gu>anty ,corporation1 a multiemploy] plan %all n be treat$ z fail+ to meet ! requirem5ts ( any su* provision prior to ! issuance ( f9al regulations or o!r guidance to c>ry out su* provision if su* plan is op]at$ 9 accordance ) a reasonable1 good fai? int]pretation ( su* provision4 #eje4 ,effective date ,unless o!rwise specifi$1 ! am5dm5ts made by ?is title %all apply to plan ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is title4 ,,vi ,f9ancial provisions #fja4 ,additional premiums 7a7 ,increase 9 flat doll> premium beg9n+ 9 #bjbb ,section #djjf7;a77#c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjf7;a77#c77 is am5d$-- 7#a7 9 subp>agraph 7,a7-- 7,a7 9 clause 7vi7-- 7i7 by ins]t+ & be=e ,janu>y #a1 #bjbb1 aft] #bjad12 & 7ii7 by /rik+ or at ! end2 7,b7 by mov+ ! m>g9s ( clause 7vii7 #b ems to ! left2 7,c7 by r$esignat+ clause 7vii7 z clause 7ix72 & 7,d7 by ins]t+ aft] clause 7vi7 ! foll[+3 7vii7 9 ! case ( a multiemploy] plan1 = plan ye>s beg9n+ 9 cal5d> ye> #bjbb1 = ea* individual :o is a p>ticipant 9 su* plan dur+ ! plan ye>1 ! doll> am\nt 9 effect "u clause 7i7 = plan ye>s beg9n+ 9 #bjbb1 4 7b7 ,flat & v>iable rate premium = ye>s aft] #bjbb ,section #djjf7;a77#c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjf7;a77#c771 z am5d$ by subsection 7a71 is fur!r am5d$-- 7#a7 by ins]t+ aft] clause 7vii7 ( subp>agraph 7,a7 ! foll[+3 7viii7 9 ! case ( a multiemploy] plan1 = any plan ye> beg9n+ aft] ,decemb] #ca1 #bjbb1 an am\nt = ea* individual :o is a p>ticipant 9 su* plan dur+ ! plan ye> equal to ! sum (-- 7,i7 ! premium rate applicable "u clause 7i77,,viii71 plus 7,,ii7 ! additional premium 7if any7 det]m9$ "u subp>agraph 7,n7 = ! plan ye>1 or 2 & 7#b7 by add+ at ! end ! foll[+3 7,n7 7i7 ,! additional premium det]m9$ "u ?is subp>agraph ) respect to any multiemploy] plan = any plan ye> %all be an am\nt equal to ! lea/ (-- 7,i7 ! am\nt det]m9$ "u clause 7ii7 = ! plan ye> divid$ by ! numb] ( p>ticipants 9 su* plan z ( ! close ( ! prec$+ plan ye>2 7,,ii7 #aj p]c5t ( ! hi/oric base contributions divid$ by ! numb] ( p>ticipants 9 su* plan z ( ! close ( ! prec$+ plan ye>2 or 7,,iii7 #bej4 7ii7 ,! am\nt det]m9$ "u ?is clause = any plan ye> %all be an am\nt equal to #aj = ea* #a1jjj 7or fraction !re(7 ( ! multiemploy] unfund$ ve/$ b5efits "u ! plan z ( ! close ( ! prec$+ plan ye>4 ,= purposes ( ?is clause1 ! t]m multiemploy] unfund$ ve/$ b5efits means1 = a plan ye>1 ! excess 7if any7 (-- 7,i7 ! curr5t liability ( ! plan z det]m9$ "u section #cjd7;c77#f77;,d7 by tak+ into acc\nt only ve/$ b5efits1 ov] 7,,ii7 ! fair m>ket value 7z det]m9$ "u section #cjd7;c77#f77;,a77ii77,i77 ( ! plan assets = ! plan ye> :i* are held by ! plan z ( ! valuation date4 7iii7 ,= purposes ( clause 7i77,,ii71 ! t]m hi/oric base contributions means ! av]age am\nt ( ! contributions1 exclud+ any paym5ts ( )drawal liability1 to ! plan requir$ to be report$ by ! plan on ,s*$ule ,,mb ( ! #c mo/ rec5t ,=ms #eejj requir$ to be fil$ be=e ! date ( enactm5t ( ?is subp>agraph4 7iv7 ,= ea* plan ye> beg9n+ aft] ,decemb] #ca1 #bjbc1 !re %all be sub/itut$ = ! doll> am\nt ( hi/oric base contributions "u clause 7i77,,ii7 & ! doll> am\nt specifi$ 9 clause 7i77,,iii7 an am\nt equal to ! great] (-- 7,i7 ! product d]iv$ by multiply+ su* doll> am\nt = plan ye>s beg9n+ 9 t cal5d> ye> by ! ratio (-- 7aa7 ! national av]age wage index 7z def9$ 9 section #bji7k77#a7 ( ! ,social ,security ,act7 = ! fir/ ( ! #b cal5d> ye>s prec$+ ! cal5d> ye> 9 :i* su* plan ye> beg9s1 to 7bb7 ! national av]age wage index 7z s def9$7 = #bjba1 or 7,,ii7 su* doll> am\nt 9 effect = plan ye>s beg9n+ 9 ! prec$+ cal5d> ye>4 ,if any am\nt det]m9$ "u ?is clause is n a multiple ( #a1 su* product %all be r\nd$ to ! ne>e/ multiple ( #a4 4 7c7 ,additional premiums ,section #djjf7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjf7;a771 z am5d$ by ?is ,act1 is fur!r am5d$ by add+ at ! end ! foll[+3 7#aj7 ,additional premiums payable by p>ticipants & b5efici>ies 7,a7 ,9 g5]al ,9 addition to ! am\nts payable "u p>agraph 7#c71 = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjbb1 ) respect to multiemploy] plans1 premiums %all be payable to ! corporation ) respect to p>ticipants & b5efici>ies :o are 9 pay /atus 9 accordance ) ?is p>agraph4 7,b7 ,am\nts payable ,subject to subp>agraphs 7,c71 7,d71 & 7,e71 ! mon?ly am\nt payable by ea* p>ticipant or b5efici>y :o is 9 pay /atus is-- 7i7 an am\nt equal to #c p]c5t ( ! p>ticipant's or b5efici>y's aggregate mon?ly b5efit1 9 ! case ( a plan 9 endang]$ /atus1 z describ$ 9 section #cje7;b77#b72 7ii7 an am\nt equal to #e p]c5t ( ! p>ticipant's or b5efici>y's aggregate mon?ly b5efit1 9 ! case ( a plan 9 critical /atus1 z describ$ 9 section #cje7;b77#c72 7iii7 an am\nt equal to #g p]c5t ( ! p>ticipant's or b5efici>y's aggregate mon?ly b5efit1 9 ! case ( a plan 9 critical & decl9+ /atus 7z describ$ 9 section #cje7;b77#g771 a plan t became an insolv5t plan aft] ! date ( enactm5t ( ?is p>agraph1 or a plan t has be5 t]m9at$ "u section #djda;,a or #djdb b is n insolv5t1 unless t plan is 7or 07 an orig9al or successor plan pursuant to a special p>tition ord] "u section #dbcc;,a2 or 7iv7 not)/&+ clauses 7i71 7ii71 or 7iii71 an am\nt equal to #aj p]c5t ( ! p>ticipant's or b5efici>y's aggregate mon?ly b5efit1 9 ! case ( a plan :i* is 7or 07 an orig9al or successor plan pursuant to a special p>tition ord] "u section #dbcc;,a1 reg>dless ( ! /atus ( ! orig9al or successor plan4 7,c7 ,coord9ation ) susp5sion ( b5efits ,9 ! case ( any p>ticipant or b5efici>y ^: b5efits are susp5d$ "u section #cje7;f77#i71 ! p]c5tage ( b5efits payable "u ! applicable clause ( subp>agraph 7,b7 ) respect to ! p>ticipant or b5efici>y %all be r$uc$ 7b n bel[ z]o7 by ! p]c5tage ( b5efits :i* 7 s susp5d$4 7,d7 ,treatm5t ( b5efits bas$ on disability ,no b5efits-- 7i7 bas$ on disability 7z def9$ by ! plan71 or 7ii7 ( a p>ticipant or b5efici>y :o is entitl$ to a b5efit "u title ,,ii ( ! ,social ,security ,act on ! basis ( a disability 7z def9$ 9 section #bbc7;d77#b7 ( su* ,act71 %all be includ$ 9 ! calculation ( ! p>ticipant's or b5efici>y's aggregate mon?ly b5efit = purposes ( det]m9+ ! paym5t due "u subp>agraph 7,b74 7,e7 ,phase\t ( premium = ^? ag$ #ge & old] 7i7 ,9 g5]al ,9 ! case ( a p>ticipant or b5efici>y :o has atta9$ or w atta9 at lea/ #ge ye>s ( age 9 a plan ye>1 ! mon?ly am\nt payable by su* p>ticipant or b5efici>y = mon?s dur+ su* plan ye> "u ?is p>agraph 7det]m9$ )\t reg>d to ?is subp>agraph7 %all be r$uc$ by ! applicable p]c5tage ( su* am\nt4 7ii7 ,applicable p]c5tage ,= purposes ( clause 7i71 ! applicable p]c5tage = any mon? %all be det]m9$ 9 accordance ) ! foll[+ table3 ,if ! individual is1 or w atta9 dur+ ! plan ye>1 age3,! applicable p]c5tage is3 #gebj p]c5t #gfdj p]c5t #ggfj p]c5t #ghhj p]c5t #gi or old] #ajj p]c5t4 7,f7 ,me?ods ( collection ,! premiums payable "u subp>agraph 7,b7 %all be collect$ by ! plan f p>ticipants :o are receiv+ b5efits "u ! plan by d$uct+ ! am\nt ( ! premium f ! b5efits z & :5 paid1 & hold+ su* am\nts 9 a sep>ate acc\nt to be remitt$ to ! corporation annually1 z prescrib$ by regulations ( ! corporation4 ,am\nts held 9 a sep>ate acc\nt "u ?is subp>agraph %all n accrue int]e/1 %all n be treat$ z assets ( ! plan1 & %all n be comm+l$ ) any o!r assets ( ! plan4 7,g7 ,plan am5dm5ts ,! adm9i/rator ( ea* multiemploy] plan %all am5d ! plan docum5ts to all[ = d$uctions f b5efits pursuant to ?is p>agraph4 7,h7 ,preemption ,?is p>agraph %all sup]s$e any law ( a ,/ate :i* w\ld directly or indirectly prohibit or re/rict an employ]1 plan1 or labor organization f )hold+ or remitt+ premium am\nts 9 accordance ) ?is p>agraph4 7,i7 ,det]m9ation ( plan /atus 7i7 ,9 g5]al ,except z o!rwise provid$ by ! regulations issu$ pursuant to clause 7ii71 = purposes ( det]m9+ premiums due "u ?is p>agraph1 ! plan's /atus %all be ! /atus c]tifi$ "u section #cje = ! fir/ plan ye> beg9n+ on or aft] ,janu>y #a1 #bjbb4 7ii7 ,subsequ5t *anges 9 /atus ,! corporation %all issue regulations reg>d+ ! tim+ requir$ = reflect+1 9 ! am\nts )held1 a revis$ plan /atus c]tifi$ at a lat] date4 ,9 no ev5t %all su* regulations all[ a delay ( m ?an #ij days4 7#aa7 ,additional premiums payable by employ]s & labor organizations 7,a7 ,9 g5]al ,9 addition to ! am\nts payable "u p>agraph 7#c71 = plan ye>s beg9n+ aft] ,decemb] #ca1 #bjbb1 ) respect to multiemploy] plans1 premiums %all be payable to ! corporation ) respect to employ]s & labor organizations 9 accordance ) ?is p>agraph4 7,b7 ,employ]s ,! mon?ly am\nt payable by employ]s1 = ea* employee p>ticipat+ 9 ! plan 7z det]m9$ "u subp>agraph 7,d77 dur+ t mon? is-- 7i7 #a 9 ! case ( a plan 9 unre/rict$ /atus pursuant to section #cje7;b77#a77;,b71 or #a4ej 9 ! case ( a plan 9 /able /atus pursuant to section #cje7;b77#a77;,a71 b only if ! plan is n an orig9al plan or a successor plan )9 ! mean+ ( section #dbcc;,a2 & 7ii7 #b4ej 9 any o!r case4 7,c7 ,labor organizations ,! mon?ly am\nt payable by labor organizations1 = ea* memb] pay+ dues & p>ticipat+ 9 ! plan 7z det]m9$ "u subp>agraph 7,d77 dur+ t mon? is-- 7i7 #a 9 ! case ( a plan 9 unre/rict$ /atus pursuant to section #cje7;b77#a77;,b71 or #a4ej 9 ! case ( a plan 9 /able /atus pursuant to section #cje7;b77#a77;,a71 b only if ! plan is n an orig9al plan or a successor plan )9 ! mean+ ( section #dbcc;,a2 & 7ii7 #b4ej 9 any o!r case4 7,d7 ,p]sons p>ticipat+ 9 ! plan ,= purposes ( subp>agraphs 7,b7 & 7,c71 an employee or memb] p>ticipat+ 9 ! plan dur+ any mon? is a p]son ) respect to :om ! employ] _h an obligation to contribute to ! plan "u ! t]ms ( a collective b>ga9+ agreem5t or o!r p>ticipation agreem5t = t mon?4 7,e7 ,remittance ,premiums requir$ "u subp>agraph 7,b7 or 7,c7 %all be remitt$ to ! plan mon?ly & held 9 a sep>ate acc\nt until remittance1 z prescrib$ 9 subp>agraph 7,f74 ,9 ! case ( a p>ticipant or b5efici>y on ^: behalf m ?an "o employ] contribut$ dur+ a mon?1 ! plan may elect to apportion ! mon?ly am\nt to ! employ]s on a proportional basis4 ,am\nts held 9 a sep>ate acc\nt "u ?is subp>agraph %all n accrue int]e/1 %all n be treat$ z assets ( ! plan1 & %all n be comm+l$ ) any o!r assets ( ! plan4 7,f7 ,submission to ! corporation ,ea* plan %all submit ! premiums "u subp>agraph 7,e7 to ! corporation1 on an annual basis1 z prescrib$ by regulations ( ! corporation4 7,g7 ,det]m9ation ( plan /atus 7i7 ,9 g5]al ,except z o!rwise provid$ by ! regulations issu$ pursuant to clause 7ii71 = purposes ( det]m9+ premiums due "u ?is p>agraph1 ! plan's /atus %all be ! /atus c]tifi$ "u section #cje = ! fir/ plan ye> beg9n+ on or aft] ,janu>y #a1 #bjbb4 7ii7 ,subsequ5t *anges 9 /atus ,! corporation %all issue regulations reg>d+ ! tim+ requir$ = reflect+1 9 ! am\nts due1 a revis$ plan /atus c]tifi$ at a lat] date4 ,9 no ev5t %all su* regulations all[ a delay ( m ?an #ij days4 4 7d7 ,paym5t ( premiums 7#a7 ,applicability ( premiums ,section #djjg7;b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjg7;b77 is am5d$ by add+ at ! end ! foll[+3 7#c7 7,a7 7i7 ,! foll[+ plans %all n owe a v>iable rate premium det]m9$ "u section #djjf7;a77#c77,n73 7,i7 ,an insolv5t plan t has comm5c$ receiv+ f9ancial assi/ance4 7,,ii7 ,a plan :i* is c]tifi$ by ! plan actu>y "u section #cje z be+ 9 unre/rict$ /atus pursuant to section #cje7;b77#a77;,b71 & :i* is n an orig9al plan )9 ! mean+ ( section #dbcc;,a4 7,,iii7 ,) respect to plan ye>s beg9n+ be=e ,janu>y #a1 #bjbe1 a plan :i* is c]tifi$ by ! plan actu>y "u section #cje z be+ 9 /able /atus pursuant to section #cje7;b77#a77;,a71 & :i* is n an orig9al plan )9 ! mean+ ( section #dbcc;,a4 7ii7 ,an insolv5t plan t has comm5c$ receiv+ f9ancial assi/ance %all n owe ! flat rate premium "u section #djjf7;a77#c77;,a77viii77,i74 7,b7 ,9 ! case ( a special p>tition "u section #dbcc;,a1 ! orig9al plan %all calculate & remit premiums "u section #djjf z if ! orig9al plan & successor plan 7 "o plan & ! successor plan %all n be requir$ to remit any su* premiums4 7#d7 ,p>agraph 7#a7 %all apply to ! additional premiums requir$ by section #djjf7;a77#aj7 & 7#aa74 4 7#b7 ,au?oriz$ civil actions ,section #djjg7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjg7;c77 is am5d$ by ins]t+ aft] ! fir/ s5t5ce ! foll[+3 ,! corporation is au?oriz$ to br+ a civil action to prev5t or correct any action by a designat$ payor1 if a pr9cipal purpose ( ! action by ! designat$ payor is to evade or avoid ! paym5t ( premiums1 & ! corporation %all be au?oriz$ to recov] ! am\nt ( premium t %\ld h be5 paid by su* payor1 plus a late paym5t p5alty & int]e/44 7e7 ,report+ on premium increases & gu>antee r$uctions ,section #djjh ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjh7 is am5d$ by add+ at ! end ! foll[+3 7c7 ,beg9n+ ) ! report = fiscal ye> #bjbe1 if ! corporation projects 9 its report+ "u ?is section t ! corporation's multiemploy] plan program w n rema9 solv5t = at lea/ #aj ye>s aft] ! date ( ! report1 ! corporation %all include 9 ! report a recomm5dation = a balanc$ comb9ation ( premium increases & gu>antee r$uctions ne$$ to ensure solv5cy = ! next #bj ye>s )\t respect to any loans "u section #djje4 ,su* recomm5dations %all be automatically adopt$ at ! beg9n+ ( ! next fiscal ye> unless ,congress takes o!r action4 4 7f7 ,del9qu5t contributions 7#a7 ,9 g5]al ,section #eae ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #aade7 is am5d$-- 7,a7 by /rik+ contributions4--,e1 & ins]t+ 8contributions & premiums4-- 7a7 ,9 g5]al ,e 1 & 7,b7 by add+ at ! end ! foll[+ new subsection3 7b7 ,premiums ,e employ] or labor organization :i* is obligat$ to remit premiums ) respect to a multiemploy] plan "u section #djjf %all remit su* premiums to ! plan 9 accordance ) ! t]ms ( ! plan & regulations issu$ by ! corporation4 4 7#b7 ,civil en=cem5t ,section #ejb7;g77#b77;,a7 ( su* ,act 7#bi ,u4,s4,c4 #aacb7;g77#b77;,a77 is am5d$ by /rik+ contributions1 & ins]t+ contributions or premiums14 #fjb4 ,fund+ 7a7 ,loans to ! corporation = ! fund ,to pay basic b5efits ,section #djje ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acje7 is am5d$ by add+ at ! end ! foll[+3 7i7 7#a7 ,! corporation may borr[ f ! ,secret>y ( ! ,treasury su* funds z are necess>y to pay basic b5efits gu>ante$ "u section #djbb;,a or exp5ses relat$ to ! corporation's multiemploy] plan program if ! balance ( assets 9 ! revolv+ fund e/abli%$ "u subsection 7a7 = purposes ( pay+ su* b5efits is #ejj1jjj1jjj or less )9 t ye>4 ,! corporation may inve/ am\nts s borr[$ 9 accordance ) subsection 7b77#c77;,a74 7#b7 ,am\nts borr[$ "u ?is subsection %all be-- 7,a7 issu$ at an annual int]e/ rate ( #j p]c5t2 & 7,b7 repaid by ! corporation-- 7i7 beg9n+ #bj ye>s aft] ! date on :i* ! loan is issu$2 7ii7 ov] a p]iod ( n m ?an #bj ye>s f comm5cem5t ( repaym5t2 & 7iii7 out ( ! fund e/abli%$ "u subsection 7a7 to pay basic b5efits gu>ante$ "u section #djbb;,a4 7#c7 ,! corporation %all notify ! ,committee on ,heal?1 ,education1 ,labor1 & ,p5sions & ! ,committee on ,f9ance ( ! ,s5ate & ! ,committee on ,education & ,labor & ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives )9 #ad days ( reque/+ a loan "u ?is subsection4 7#d7 ,beg9n+ on ,janu>y #a1 #bjbb1 if1 z ( ! close ( any cal5d> ye> ! out/&+ balance ( ! loans provid$ to ! corporation dur+ ! previ\s ye> "u ?is subsection exce$$ #b1jjj1jjj1jjj1 ! multiemploy] flat-rate premium rates applicable "u section #djjf7;a7 solely = plan ye>s beg9n+ 9 ! imm$iately succe$+ cal5d> ye> %all be increas$ by #bj p]c5t4 4 7b7 ,/udy on fund+ = basic b5efit gu>antee ,section #djbb;,a7f7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acbb;a7f77 is am5d$-- 7#a7 by /rik+ ,committee on ,labor & ,human ,res\rces ea* place su* t]m appe>s & ins]t+ ,committee on ,heal?1 ,education1 ,labor1 & ,p5sions2 7#b7 9 p>agraph 7#a77;,a7-- 7,a7 9 clause 7i71 by /rik+ 1 & & ins]t+ a semicolon2 & 7,b7 by ins]t+ aft] clause 7ii7 ! foll[+3 7iii7 :e!r ! ,corporation projects t ! loans issu$ "u section #djje7;i7 w be repaid 9 accordance ) ! s*$ule set =? 9 p>agraph 7#b77;,b7 ( su* section2 & 2 7#c7 9 p>agraph 7#b7-- 7,a7 9 subp>agraph 7,a7-- 7i7 9 ! matt] prec$+ clause 7i71 by ins]t+ & repaym5t ( loans "u section #djje7;i7 aft] multiemploy] plans2 & 7ii7 9 clause 7ii71 by ins]t+ 1 & repaym5t ( any loans issu$ "u section #djje7;i7 be=e ! comma at ! end2 & 7,b7 9 subp>agraph 7,c71 by /rik+ second2 & 7#d7 9 p>agraph 7#c77;,a77ii71 by ins]t+ & repaym5t ( loans issu$ "u section #djje7;i7 be=e ! p]iod4 #fjc4 ,composite plan transition fee 7a7 ,9 g5]al ,section #djjf7;a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjf7;a771 z am5d$ by ?is ,act1 is fur!r is am5d$ by add+ at ! end ! foll[+3 7#ab7 ,composite plan transition fee ,not)/&+ p>agraph 7#i71 9 any ye> aft] #bjbd1 a composite plan 7z def9$ 9 section #hja7;a77 %all remit to ! legacy plan 7)9 ! mean+ ( section #hje7 #ae p] p>ticipant t is n also a p>ticipant 9 ! legacy plan4 ,! legacy plan %all remit su* am\nt to ! corporation 9 addition to its premiums o!rwise requir$ "u ?is section4 4 7b7 ,con=m+ am5dm5t ,section #djjg7;b77#d7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #acjg7;b77#d771 z add$ by section #fja1 is am5d$ by ins]t+ 1 & ! transition fees requir$ by section #djjf7;a77#ab7 be=e ! p]iod4