98 STAT. 1436
PUBLIC LAW 98-397—AUG. 23, 1984
domestic relations order as having a right to receive all, or a portion of, the benefits payable under a plan with respect to such participant. "(L) In prescribing regulations under this paragraph, the Secretary shall consult with the Secretary of the Treasury.". (b) CLARIFICATION OF PREEMPTION PROVISION.—Subsection (b) of
Ante, p. 1433.
section 514 (29 U.S.C. 1144(b)) is amended by adding at the end thereof the following new paragraph: "(7) Subsection (a) shall not apply to qualified domestic relations Orders (within the meaning of section 206(d)(3)(B)(i)).". SEC. 105. RESTRICTIONS ON MANDATORY DISTRIBUTIONS.
(a) GENERAL RULE.—Section 203 (29 U.S.C. 1053) is amended by adding at the end thereof the following new subsection: "(e)(1) If the present value of any accrued benefit exceeds $3,500, such benefit shall not be treated as nonforfeitable if the plan provides that the present value of such benefit could be immediately distributed without the consent of the participant. "(2) For purposes of paragraph (1), the present value shall be calculated by using an interest rate not greater than the interest rate which would be used (as of the date of the distribution) by the Pension Benefit Guaranty Corporation for purposes of determining the present value of a lump sum distribution on plan termination.'. (b) CONFORMING AMENDMENT.—Paragraph (1) of section 204(d) (29 U.S.C. 1054(d)(l)) is amended by striking out "$1,750" and inserting in lieu thereof "$3,500". SEC. 106. PARTICIPANT TO BE NOTIFIED THAT BENEFITS MAY BE FORFEITABLE.
Subsection (c) of section 105 (29 U.S.C. 1025(c)) is amended by inserting at the end thereof the following new sentence: "Such statement shall also include a notice to the participant of any benefits which are forfeitable if the participant dies before a certain date.".
TITLE II—AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1954 SEC. 201. AMENDMENT OF 1954 CODE.
Except as otherwise expressly provided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal 26 USC 1 et seg. Revenue Code of 1954. SEC. 202. MODIFICATIONS OF MINIMUM PARTICIPATION AND VESTING STANDARDS. (a) AGE LIMITATION FOR MINIMUM PARTICIPATION STANDARDS LOWERED FROM AGE 25 TO AGE 21.—
26 USC 410.
(1) IN GENERAL.—Subparagraph (A)(i) of section 410(a)(l) relating to minimum a^e requirement for participation is amended by striking out "25" and inserting in lieu thereof "21". (2) SPECIAL RULE FOR CERTAIN PLANS.—Subparagraph (B)(ii) of section 410(a)(l) (relating to special rules for certain plans) is amended by striking out " '30' for ' 2 5 ' " and inserting in lieu thereof " ' 2 6 ' for ' 2 1 ' ".