Page:United States Statutes at Large Volume 98 Part 2.djvu/291

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PUBLIC LAW 98-000—MMMM. DD, 1984

PUBLIC LAW 98-397—AUG. 23, 1984

98 STAT. 1451

(2) AMENDMENT OF EMPLOYEE RETIREMENT INCOME SECURITY

ACT OF 1974.—Subsection (g) of section 204 of the Employee Retirement Income Security Act of 1974 is amended to read as follows: "(g)(l) The accrued benefit of a participant under a plan may not be decreased by an amendment of the plan, other than an amendment described in section 302(c)(8). "(2) For purposes of paragraph (1), a plan amendment which has the effect of^ "(A) eliminating or reducing an early retirement benefit or a retirement-type subsidy (as defined in regulations), or "(B) eliminating an optional form of benefit, with respect to benefits attributable to service before the amendment shall be treated as reducing accrued benefits. In the case of a retirement-type subsidy, the preceding sentence shall apply only with respect to a participant who satisfies (either before or after the amendment) the preamendment conditions for the subsidy. The Secretary of the Treasury may by regulations provide that this subparagraph shall not apply to a plan amendment described in subparagraph (B) (other than a plan amendment having an effect described in subparagraph (A)).".

29 USC 1054.

29 USC 1082.

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(b) REQUIREMENT THAT ACTUARIAL ASSUMPTIONS B E SPECIFIED.—

Subsection (a) of section 401 of the Internal Revenue Code of 1954 (relating to qualified pension, profit-sharing, and stock bonus plans) is amended by inserting after paragraph (24) the following new paragraph: "(25)

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26 USC 401.

REQUIREMENT THAT ACTUARIAL ASSUMPTIONS BE SPECI-

FIED.—A defined benefit plan shall not be treated as providing definitely determinable benefits unless, whenever the amount of any benefit is to be determined on the basis of actuarial assumptions, such assumptions are specified in the plan in a way which precludes employer discretion.". SEC. 302. GENERAL EFFECTIVE DATES. (a) IN GENERAL.—Except as otherwise provided in this section or section 303, the amendments made by this Act shall apply to plan years beginning after December 31, 1984.

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29 USC 1001 Pogt p 1452

(b) SPECIAL RULE FOR COLLECTIVE BARGAINING AGREEMENTS.—In

the case of a plan maintained pursuant to 1 or more collective ,: qq ^ bargaining agreements between employee representatives and 1 or more employers ratified before the date of the enactment of this Act, except as provided in subsection (d) or section 303, the amendments Post, p. 1452. made by this Act shall not apply to plan years beginning before the earlier of— (1) the date on which the last of the collective bargaining agreements relating to the plan terminates (determined without regard to any extension thereof agreed to after the date of the enactment of this Act), or (2) January 1, 1987. For purposes of paragraph (1), any plan amendment made pursuant to a collective bargaining agreement relating to the plan which amends the plan solely to conform to any requirement added by title I or II shall not be treated as a termination of such collective Ante, pp. 1426, bargaining agreement. 1436. (c) NOTICE REQUIREMENT.—The amendments made by section 207 Ante, p. 1449. shall apply to distributions after December 31, 1984. (d) SPECIAL RULES FOR TREATMENT OF PLAN AMENDMENTS.—