98 STAT. 3464
CONCURRENT RESOLUTIONS—JUNE 29, 1984
benefits provided to retired employees" and insert in lieu thereof "any reserve described in section 419A(c)(2)(A) for post-retirement medical benefits". (91) Strike out clause (iii) of section 512(a)(3)(E) of the Code (as added by section 511(b)(2) of the bill) and insert the following: "(iii) TREATMENT OF EXISTING RESERVES FOR POSTRETIREMENT MEDICAL OR LIFE INSURANCE BENEFITS.—
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"(I) Clause (i) shall not apply to any income attributable to a existing reserve for post-retirement medical or life insurance benefits. "(II) For purposes of subclause (I), the term 'existing reserve or post-retirement medical or life insurance benefit' means the amount of assets set Eiside as of the close of the last plan year ending before the date of the enactment of the Tax Reform Act of 1984 for purposes of post-retirement medical benefits or life insurance benefits to be provided to covered employees. "(Ill) All payments during plan years ending on or after the date of the enactment of the Tax Reform Act of 1984 of post-retirement medical benefits or life insurance benefits shall be charged against the reserve referred to in subclause (II). Except to the extent provided in regulations prescribed by the Secretary, all plans of an employer shall be treated as 1 plan for purposes of the preceding sentence." (92) Strike out paragraph (2) of section 4976(b) of the C!ode (as added by section SlKcXD of the bill) and insert the following: "(2) any post-retirement medical or life insurance benefit unless the plan meets the requirements of section 505(b)(l) with respect to such benefit, and". (93) In the item added by section 511(c)(2) of the bill, strike out "4977" and insert in lieu thereof "4976". (94) In paragraph (4) of section 511(e) of the bill, strike out "to be used to acquire" and insert in lieu thereof "to be used to acquire or improve". (95) In paragraph (5) of section 511(e) of the bill, strike out "acquired pursuant to" and insert in lieu thereof "acquired or improved pursuant to". (96) In the subsection heading for subsection (a) of section 505 of the Code (as added by section 513(a) of the bill), strike out "(9), (17), O (20)" and insert in lieu thereof "(9) OR (20)". R (97) Redesignate paragraph (3) of section 505(a) of the Code (as added by section 513 of the bill) as paragraph (2). (98) In subparagraph (B) of section 505(b)(l) of the Code (as added by section 513(a) of the bill), strike out "benefits for not discriminate" and insert in lieu thereof "benefits do not discriminate". (99) At the end of subtitle E of title V of the bill, insert the following new section: "SEC. 561. LIMITATION ON ACCRUAL OF VACATION PAY.
"(a) GENERAL RULE.—Paragraph (1) of section 463(a) (relating to accrual of vacation pay) is amended by striking out 'and payable during' and inserting in lieu thereof 'and expected to be paid during'." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to taxable years beginning after March 31, 1984.
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