118 STAT. 600 PUBLIC LAW 108–218—APR. 10, 2004 year beginning in 2000 (determined without regard to para graph (6)), then, at the election of the employer, the increased amount under paragraph (1) for any applicable plan year shall be the greater of— ‘‘(i) 20 percent of the increased amount under para graph (1) determined without regard to this paragraph, or ‘‘(ii) the increased amount which would be deter mined under paragraph (1) if the deficit reduction con tribution under paragraph (2) for the applicable plan year were determined without regard to subparagraphs (A), (B), and (D) of paragraph (2). ‘‘(B) RESTRICTIONS ON BENEFIT INCREASES.—No amend ment which increases the liabilities of the plan by reason of any increase in benefits, any change in the accrual of benefits, or any change in the rate at which benefits become nonforfeitable under the plan shall be adopted during any applicable plan year, unless— ‘‘(i) the plan’s enrolled actuary certifies (in such form and manner prescribed by the Secretary of the Treasury) that the amendment provides for an increase in annual contributions which will exceed the increase in annual charges to the funding standard account attributable to such amendment, or ‘‘(ii) the amendment is required by a collective bargaining agreement which is in effect on the date of enactment of this subparagraph. If a plan is amended during any applicable plan year in violation of the preceding sentence, any election under this paragraph shall not apply to any applicable plan year ending on or after the date on which such amendment is adopted. ‘‘(C) APPLICABLE EMPLOYER.—For purposes of this para graph, the term ‘applicable employer’ means an employer which is— ‘‘(i) a commercial passenger airline, ‘‘(ii) primarily engaged in the production or manu facture of a steel mill product or the processing of iron ore pellets, or ‘‘(iii) an organization described in section 501(c)(5) of the Internal Revenue Code of 1986 and which estab lished the plan to which this paragraph applies on June 30, 1955. ‘‘(D) APPLICABLE PLAN YEAR.—For purposes of this paragraph— ‘‘(i) IN GENERAL.—The term ‘applicable plan year’ means any plan year beginning after December 27, 2003, and before December 28, 2005, for which the employer elects the application of this paragraph. ‘‘(ii) LIMITATION ON NUMBER OF YEARS WHICH MAY BE ELECTED.—An election may not be made under this paragraph with respect to more than 2 plan years. ‘‘(E) NOTICE REQUIREMENTS FOR PLANS ELECTING ALTERNATIVE DEFICIT REDUCTION CONTRIBUTIONS.— ‘‘(i) IN GENERAL.—If an employer elects an alter native deficit reduction contribution under this para graph and section 412(l)(12) of the Internal Revenue Deadline.
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