PUBLIC LAW 100-203—DEC. 22, 1987
101 STAT. 1330-371
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the unfunded current liability under the plan attributable to the plan amendment, or "(B) the amount of the increase in current liability under the plan attributable to the plan amendment, over "(2) $10,000,000. "(d) RELEASE OF SECURITY.—The security shall be released (and any amounts thereunder shall be refunded together with any interest accrued thereon) at the end of the first plan year which ends after the provision of the security and for which the funded current liability percentage under the plan is not less than 60 percent. The Regulations. Secretary may prescribe regulations for partial releases of the security by reason of increases in the funded current liability percentage. "(e) DEFINITIONS.—For purposes of this section, the terms 'current liability', 'funded current liability percentage', and 'unfunded current liability' shall have the meanings given such terms by section 302(d), except that in computing unfunded current liability there shall not be taken into account any unamortized portion of the unfunded old liability amount as of the close of the plan year." (b) CLERICAL AMENDMENT.—The table of contents in section 1 of ERISA (29 U.S.C. 1001 note) is amended by striking out the item relating to section 307 and inserting in lieu thereof the following new items: "Sec. 307. Security required upon adoption of plan amendment resulting in significant underfunding. "Sec. 308. Effective dates." (c) EFFECTIVE DATE.—
(1) IN GENERAL.—Except sis provided in this subsection, the amendments made by this section shall apply to plan amendments adopted after the date of the enactment of this Act. (2) COLLECTIVE BARGAINING AGREEMENTS.—In the case of a plan maintained pursuant to 1 or more collective bargaining agreements between employee representatives and 1 or more employers ratified before the date of the enactment of this Act, the amendments made by this section shall not apply to plan amendments adopted pursuant to collective bargaining agreements ratified before the date of enactment. SEC. 9342. REPORTING REQUIREMENTS. (a) FUNDED PERCENTAGE REQUIRED TO B E SHOWN IN ANNUAL REPORT " ^
(i) Subsection (d) of section 103 of ERISA (29 U.S.C. 1023(d)) is amended by redesignating paragraphs (11) and (12) as paragraphs (12) and (13), respectively, and by inserting after paragraph (10) the following new paragraph: "(11) If the current value of the assets of the plan is less than 60 percent of the current liability under the plan (within the meaning of section 302(d)(7)), such percentage." (2) Paragraph (3) of section 1040t)) of ERISA (29 U.S.C. 1024(b)(3)) is amended by striking out "such other material" and inserting in lieu thereof "such other material (including the percentage determined under section 103(d)(ll))". (b) AMENDMENT OF STATUTE OF LIMITATIONS WITH RESPECT TO CERTAIN REPORTS.—Section 413(a)(2) of ERISA (29 U.S.C. 1113(a)(2))
is amended by striking "(A)" and by striking "or (B)" and all that follows through "title".
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26 USC 40i note.
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