90 STAT. 1588
PUBLIC LAW 94-455—OCT. 4, 1976 for any taxable year may not exceed the value (at the time of transfer) of the employer securities transferred to the plan in accordance with the requirements of paragraph (3) for the year for which the employee contributions are designated as matching contributions. " (C) The emploj-er may not make participation in the plan a condition of employment and the plan may not require matching employee contributions as a condition of participation in the plan. " (D) Employee contributions under the plan must meet the requirements of section 401(a)(4) of such Code (relating to contributions). " (5) A plan must provide for allocation of all employer securities transferred to it or purchased by i t under this subsection to the account of each participant (who was a participant a t any time during the plan year, whether or not he is a part i c i p a n t a t the close of the plan year) as of the close of the plan year in a n amount equal to his matching employee contributions for the year. Matching employee contributions and amounts so allocated shall be deemed to be allocated under subsection (d)(3). "(f)
Ante, pp. 1584, 1^^'^-
RECAPTURE.—
" (1) GENERAL RULE.—Amounts transferred to a plan under subsection (d)(6) or (e)(3) may be w i t h d r a w n from the plan by the employer if the plan provides that while subject to recapture— " (A) amounts so transferred with respect to a taxable year are segregated from other plan assets, and " (B) separate accounts are maintained for participants on whose behalf amounts so transferred have been allocated for a taxable year. "(2)
29 USC 1103.
any
other law or rule of law, an amount withdrawn by the employer will neither fail to be considered to be nonforfeitable nor fail to be for the exclusive benefit of participants or their beneficiaries merely because of the withdrawal from the plan of— " (A) amounts described in paragraph (1), or " (B) employer amounts transferred under*subsection (e) (3) to the plan which are not matched by matching employee contributions or which are in excess of the limitations of section 415 of such Code, nor will the withdrawal of any such amount be considered to violate the provisions of section 4 0 3 (c)(1) of the Employee Eetirement Income Security Act of 1974." (e)
26 USC 46 note.
COORDINATION W I T H OTHER LAW.—Notwithstanding
CLERICAL AMENDMENT. —
(1) The heading of section 301(d) of the T a x Reduction Act of 1975 is amended by striking out " 1 1 - P E R C E N T " and inserting in lieu thereof "ADDITIONAL". (2) Section 301(d) of the T a x Reduction Act of 1975 is amended by— (A) striking out " A corporation" in paragraph (1) and inserting in lieu thereof " E x c e p t as expressly provided in subsections (e) and (f), a corporation", (B) inserting "or subsection (e)(3) " in paragraph (7)(A) immediately after " (6) ", (C) striking out "this subsection" in paragraph (10) and substituting in lieu thereof "this subsection and subsections (e) and (f) ", and
�
