94 STAT. 1272
PUBLIC LAW 96-364—SEPT. 26, 1980 "(I) decrease of 5 percent or more in the value of plan assets, or increase of 5 percent or more in the number of persons in pay status, during the period beginning on the first day of the plan year following the base plan year and ending on the adjustment date, or "(ID at the election of the plan sponsor, actuarial valuation of the plan as of the adjustment date or any later date not later than the last day of the plan year for which the determination is being made, "(ii) any change in benefits under the plan which is not otherwise taken into account under this subparagraph and which is pursuant to any amendment— "(I) adopted before the end of the plan year for which the determination is being made, and "(II) effective after the end of the base plan year and on or before the end of the plan year referred to in subclause (I), and "(iii) any other event (including an event described in subparagraph (B)(i)(I)) which, as determined in accordance with regulations prescribed by the Secretary, would substantially increase the plan's vested benefit charge. "(B) CERTAIN CHANGES IN BENEFIT LEVELS.—
"(i) IN GENERAL.—In determining the vested benefits charge for a plan year following a plan year in which the plan was not in reorganization, any change in benefits which— "(I) results from the changing of a group of participants from one benefit level to another benefit level under a schedule of plan benefits as a result of changes in a collective bargaining agreement, or "(II) results from any other change in a collective bargaining agreement, shall not be taken into account except to the extent provided in regulations prescribed by the Secretary, "(ii) PLAN IN REORGANIZATION.—Except as otherwise
determined by the Secretary, in determining the vested benefits charge for any plan year following any plan year in which the plan was in reorganization, any change in benefits— "(I) described in clause (i)(I), or "(II) described in clause (i)(II) as determined under regulations prescribed by the Secretary, shall, for purposes of subparagraph (A)(ii), be treated as a change in benefits pursuant to an amendment to a plan. "(5) BASE PLAN YEAR.—
"(A) IN GENERAL.—The base plan year for any plan year is— "(i) if there is a relevant collective bargaining agreement, the last plan year ending at least 6 months before the relevant effective date, or "(ii) if there is no relevant collective bargaining agreement, the last plan year ending at least 12 months before the beginning of the plan year.
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