PUBLIC LAW 100-203—DEC. 22, 1987
101 STAT. 1330-345
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"(ii) the amount (if any) of the installment contributed to or under the plan on or before the due date for the installment. "(B) PERIOD OF UNDERPAYMENT.—The period for which interest is charged under this subsection with regard to any portion of the underpayment shall run from the due date for the installment to the date on which such portion is contributed to or under the plan (determined without regard to subsection (c)(10)). "(C) ORDER OF CREDITING CONTRIBUTIONS.—For purposes of subparagraph (A)(ii), contributions shall be credited against unpaid required installments in the order in which such installments are required to be paid.
"(8) NUMBER OF REQUIRED INSTALLMENTS; DUE DATES.—For
purposes of this subsection— "(A) PAYABLE IN 4 INSTALLMENTS.—There shall be 4 required installments for each plan year. "(B) TIME FOR PAYMENT OF INSTALLMENTS.— = "In the case of the following required installments: The due date is: 1st April 15 2nd July 15 3rd October 15 4th January 15 of the following year.
"(4) AMOUNT OF REQUIRED INSTALLMENT.—For purposes of this subsection— "(A) IN GENERAL.—The amount of any required installment shall be the applicable percentage of the required annual payment. "(B)
subparagraph (A), the term 'required annual payment' means the lesser of— "(i) 90 percent of the amount required to be contributed to or under the plan by the employer for the plan year under section 412 (without regard to any waiver 'l^'; under subsection (c) thereof), or "(ii) 100 percent of the amount so required for the preceding plan year. Clause (ii) shall not apply if the preceding plan year was not a year of 12 months. "(C) APPLICABLE PERCENTAGE.—For purposes of subpara-
graph (A), the applicable percentage shall be determined in accordance with the following table: "For plan years beginning in: 1989 1990 1991 1992 and thereafter
The applicable percentage is: 6.25 12.5 18.75 25.
"(D) SPECIAL RULES FOR UNPREDICTABLE CONTINGENT EVENT BENEFITS.—In the case of a plan with any unpredict-
able contingent event benefit liabilities— "(i) such liabilities shall not be taken into account in computing the required annual payment under subparagraph (B), and