101 STAT. 1330-332
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PUBLIC LAW 100-203—DEC. 22, 1987 "(i) the lesser of (I) 150 percent of c u r r e n t liability, or (II) the accrued liability (including n o r m a l cost) under the plan (determined under the entry age n o r m a l funding method if such accrued liability cannot be directly calculated under the funding method used for the plan), over "(ii) the lesser of— "(I) the fair m a r k e t value of the plan's assets, or "(II) the value of such assets determined under paragraph (2). "(B) C U R R E N T LIABILITY.—For purposes of subparagraph s
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(A) and (D), the term ' c u r r e n t liability' has the m e a n i n g given such term by subsection (1)(7) (without regard to subparagraph (D) thereof). "(C) SPECIAL RULE FOR PARAGRAPH (GKB).—For
purposes
of paragraph (6)(B), subparagraph (A)(i) shall be applied without regard to subclause (I) thereof. "(D) REGULATORY AUTHORITY.—The
Secretary
may
by
regulations provide— -" ' ' "(i) for adjustments to the percentage contained in subparagraph (A)(i) to t a k e into account the respective '^ ' ages or lengths of service of the participants, ' "^' "(ii) a l t e r n a t i v e methods based on factors other than c u r r e n t liability for the determination of the a m o u n t ', t a k e n into account under subparagraph (A)(i), and '* ' "(iii) for the t r e a t m e n t under this section of contribu^ tions which would be required to be m a d e under the plan b u t for the provisions of subparagraph (A)(i)(I)." (b) AMENDMENT TO E R I S A. — Paragraph (7) of section 302(c) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1082(c)(7)) is amended to read as follows: "(7) F U L L - F U N D I N G LIMITATION.—
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"(A) IN GENERAL.—For purposes of paragraph (6), the term 'full-funding limitation' means the excess (if any) of— "(i) the lesser of (I) 150 percent of c u r r e n t liability, or ^ J (II) the accrued liability (including n o r m a l cost) under ^ ^ J !^^ ' the plan (determined under the entry age n o r m a l funding method if such accrued liability cannot be directly calculated under the funding method used for the plan), over •.•' ' "(ii) the lesser of— "(I) the fair m a r k e t value of the plan's assets, or "(II) the value of such assets determined under paragraph (2). "(B) C U R R E N T L I A B I U T Y. — For purposes of subparagraph s
(A) and (D), the term ' c u r r e n t liability' has the m e a n i n g given such term by subsection (d)(7) (without regard to subparagraph (D) thereof). fiarf.
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<<(Q SPECIAL RULE FOR PARAGRAPH (GMB).—For purposes
of paragraph (6)(B), subparagraph (A)(i) shall b e applied without regard to subclause (I) thereof. "(D)
REGULATORY
AUTHORITY.—The
Secretary
of
the
Treasury may by regulations provide— "(i) for adjustments to the percentage contained in '^i .V' ». subparagraph (A)(i) to t a k e into account the respective It* ( « ' ages or lengths of service of the participants,
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