In the Senate of the United States, 

December 18, 2010. 

Resolved, That the bill from the House of Representatives (H.R. 4915) entitled ‘‘An Act to amend the Internal 

Revenue Code of 1986 to extend the funding and expenditure 

authority of the Airport and Airway Trust Fund, to amend 

title 49, United States Code, to extend authorizations for the 

airport improvement program, and for other purposes.’’, do 

pass with the following 

AMENDMENTS: 

Strike all after the enacting clause and insert the 

following: 

1 SECTION 1. DEFINITION OF ELIGIBLE PLAN YEAR. 

2 (a) AMENDMENT TO ERISA.—Clause (v) of section 

3 303(c)(2)(D) of the Employee Retirement Income Security 

4 Act of 1974 (29 U.S.C. 1083(c)(2)(D)), as added by section 

5 201(a)(1) of the Preservation of Access to Care for Medicare 

6 Beneficiaries and Pension Relief Act of 2010, is amended— 

7 (1) by striking ‘‘on or after the date of the enact8 ment of this subparagraph’’ and inserting ‘‘on or 
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1 after June 25, 2010 (March 10, 2010, in the case of 

2 an eligible plan)’’, and 

3 (2) by adding at the end the following new sen4 tence: ‘‘For purposes of the preceding sentence, a plan 

5 shall be treated as an eligible plan only if, as of the 

6 date of the election with respect to the plan under 

7 clause (i)— 

8 ‘‘(A) the plan sponsor is not a debtor in a 

9 case under title 11, United States Code, or simi10 lar Federal or State law, 

11 ‘‘(B) there are no unpaid minimum re12 quired contributions with respect to the plan for 

13 purposes of section 4971 of the Internal Revenue 

14 Code of 1986 (imposing an excise tax when min15 imum required contributions are not paid by the 

16 due date for the plan year), 

17 ‘‘(C) there are no outstanding liens in favor 

18 of the plan under subsection (k), and 

19 ‘‘(D) the plan sponsor has not initiated a 

20 distress termination of the plan under section 

21 4041.’’. 

22 (b) AMENDMENT TO INTERNAL REVENUE CODE OF

23 1986.—Clause (v) of section 430(c)(2)(D) of the Internal 

24 Revenue Code of 1986, as added by section 201(b)(1) of the 
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1 Preservation of Access to Care for Medicare Beneficiaries 

2 and Pension Relief Act of 2010, is amended— 

3 (1) by striking ‘‘on or after the date of the enact4 ment of this subparagraph’’ and inserting ‘‘on or 

5 after June 25, 2010 (March 10, 2010, in the case of 

6 an eligible plan)’’, and 

7 (2) by adding at the end the following new sen8 tence: ‘‘For purposes of the preceding sentence, a plan 

9 shall be treated as an eligible plan only if, as of the 

10 date of the election with respect to the plan under 

11 clause (i)— 

12 ‘‘(A) the plan sponsor is not a debtor in a 

13 case under title 11, United States Code, or simi14 lar Federal or State law, 

15 ‘‘(B) there are no unpaid minimum re16 quired contributions with respect to the plan for 

17 purposes of section 4971 (imposing an excise tax 

18 when minimum required contributions are not 

19 paid by the due date for the plan year), 

20 ‘‘(C) there are no outstanding liens in favor 

21 of the plan under subsection (k), and 

22 ‘‘(D) the plan sponsor has not initiated a 

23 distress termination of the plan under section 

24 4041 of the Employee Retirement Income Secu25 rity Act of 1974.’’. 
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1 (c) EFFECTIVE DATE.—The amendments made by this 

2 section shall take effect as if included in the amendments 

3 made by the provisions of the Preservation of Access to Care 

4 for Medicare Beneficiaries and Pension Relief Act of 2010 

5 to which the amendments relate. 

6 SEC. 2. ELIGIBLE CHARITY PLANS. 

7 (a) DEFINITION OF ELIGIBLE CHARITY PLANS.— 

8 (1) IN GENERAL.—Section 104(d) of the Pension 

9 Protection Act of 2006, as added by section 202(b) of 

10 the Preservation of Access to Care for Medicare Bene11 ficiaries and Pension Relief Act of 2010, is amended 

12 to read as follows: 

13 ‘‘(d) ELIGIBLE CHARITY PLAN DEFINED.—For pur14 poses of this section, a plan shall be treated as an eligible 

15 charity plan for a plan year if— 

16 ‘‘(1) the plan is maintained by one or more em17 ployers employing employees who are accruing bene18 fits based on service for the plan year, 

19 ‘‘(2) such employees are employed in at least 20 

20 States, 

21 ‘‘(3) more than 98 percent of such employees are 

22 employed by an employer described in section 

23 501(c)(3) of such Code and the primary exempt pur24 pose of each such employer is to provide services with 

25 respect to children, and 
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1 ‘‘(4) the plan sponsor elects (at such time and in 

2 such form and manner as shall be prescribed by the 

3 Secretary of the Treasury) to be so treated. 

4 Any election under this subsection may be revoked only with 

5 the consent of the Secretary of the Treasury.’’. 

6 (2) EFFECTIVE DATE.—The amendment made by 

7 this subsection shall take effect as if included in the 

8 amendment made by the provision of the Preservation 

9 of Access to Care for Medicare Beneficiaries and Pen10 sion Relief Act of 2010 to which the amendment re11 lates (determined after application of the amendment 

12 made by subsection (c)), except that a plan sponsor 

13 may elect to apply such amendment to plan years be14 ginning on or after January 1, 2011. 

15 (b) REGULATIONS.—The Secretary of the Treasury 

16 may prescribe such regulations as may be necessary to 

17 carry out the purposes of the amendments made by section 

18 202(b) of the Preservation of Access to Care for Medicare 

19 Beneficiaries and Pension Relief Act of 2010 and the 

20 amendment made by subsection (a). 

21 (c) APPLICATION OF NEW RULES TO ELIGIBLE CHAR22 ITY PLANS.— 

23 (1) IN GENERAL.—Paragraph (2) of section 

24 202(c) of the Preservation of Access to Care for Medi-
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1 care Beneficiaries and Pension Relief Act of 2010 is 

2 amended to read as follows: 

3 ‘‘(2) ELIGIBLE CHARITY PLANS.—The amend4 ments made by subsection (b) shall apply to plan 

5 years beginning after December 31, 2010, except that 

6 a plan sponsor may elect to apply such amendments 

7 to plan years beginning after an earlier date.’’. 

8 (2) EFFECTIVE DATE.—The amendment made by 

9 this subsection shall take effect as if included in the 

10 amendment made by the provision of the Preservation 

11 of Access to Care for Medicare Beneficiaries and Pen12 sion Relief Act of 2010 to which the amendment re13 lates. 

14 SEC. 3. SUSPENSION OF CERTAIN FUNDING LEVEL LIMITA15 TIONS. 

16 (a) LIMITATIONS ON BENEFIT ACCRUALS.—Section 

17 203 of the Worker, Retiree, and Employer Recovery Act of 

18 2008 (Public Law 110–458; 122 Stat. 5118) is amended— 

19 (1) by striking ‘‘the first plan year beginning 

20 during the period beginning on October 1, 2008, and 

21 ending on September 30, 2009’’ and inserting ‘‘any 

22 plan year beginning during the period beginning on 

23 October 1, 2008, and ending on December 31, 2011’’; 

24 (2) by striking ‘‘substituting’’ and all that fol25 lows through ‘‘for such plan year’’ and inserting 
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1 ‘‘substituting for such percentage the plan’s adjusted 

2 funding target attainment percentage for the last plan 

3 year ending before September 30, 2009,’’; and 

4 (3) by striking ‘‘for the preceding plan year is 

5 greater’’ and inserting ‘‘for such last plan year is 

6 greater’’. 

7 (b) SOCIAL SECURITY LEVEL-INCOME OPTIONS.— 

8 (1) ERISA AMENDMENT.—Section 206(g)(3)(E) 

9 of the Employee Retirement Income Security Act of 

10 1974 is amended by adding at the end the following 

11 new sentence: ‘‘For purposes of applying clause (i) in 

12 the case of payments the annuity starting date for 

13 which occurs on or before December 31, 2011, pay14 ments under a social security leveling option shall be 

15 treated as not in excess of the monthly amount paid 

16 under a single life annuity (plus an amount not in 

17 excess of a social security supplement described in the 

18 last sentence of section 204(b)(1)(G)).’’. 

19 (2) IRC AMENDMENT.—Section 436(d)(5) of the 

20 Internal Revenue Code of 1986 is amended by adding 

21 at the end the following new sentence: ‘‘For purposes 

22 of applying subparagraph (A) in the case of pay23 ments the annuity starting date for which occurs on 

24 or before December 31, 2011, payments under a social 

25 security leveling option shall be treated as not in ex-
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1 cess of the monthly amount paid under a single life 

2 annuity (plus an amount not in excess of a social se3 curity supplement described in the last sentence of 

4 section 411(a)(9)).’’. 

5 (3) EFFECTIVE DATE.— 

6 (A) IN GENERAL.—The amendments made 

7 by this subsection shall apply to annuity pay8 ments the annuity starting date for which occurs 

9 on or after January 1, 2011. 

10 (B) PERMITTED APPLICATION.—A plan 

11 shall not be treated as failing to meet the re12 quirements of sections 206(g) of the Employee 

13 Retirement Income Security Act of 1974 (as 

14 amended by this subsection) and section 436(d) 

15 of the Internal Revenue Code of 1986 (as so 

16 amended) if the plan sponsor elects to apply the 

17 amendments made by this subsection to pay18 ments the annuity starting date for which occurs 

19 before January 1, 2011. 

20 (c) REPEAL OF RELATED PROVISIONS.—The provi21 sions of, and the amendments made by, section 203 of the 

22 Preservation of Access to Care for Medicare Beneficiaries 

23 and Pension Relief Act of 2010 are repealed and the Em24 ployee Retirement Income Security Act of 1974, the Inter25 nal Revenue Code of 1986, and the Worker, Retiree, and 
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1 Employer Recovery Act of 2008 (Public Law 110–458; 122 

2 Stat. 5118) shall be applied as if such section had never 

3 been enacted. 

4 SEC. 4. OPTIONAL USE OF 30-YEAR AMORTIZATION PERI5 ODS. 

6 (a) AMENDMENT TO ERISA.—Paragraph (8) of sec7 tion 304(b) of the Employee Retirement Income Security 

8 Act of 1974, as amended by the Preservation of Access to 

9 Care for Medicare Beneficiaries and Pension Relief Act of 

10 2010, is amended by striking ‘‘after August 31, 2008’’ each 

11 place it appears in subparagraphs (A)(i), (B)(i)(I), and 

12 (B)(i)(II), and inserting ‘‘on or after June 30, 2008’’. 

13 (b) AMENDMENT TO INTERNAL REVENUE CODE OF

14 1986 .—Paragraph (8) of section 431(b) of the Internal 

15 Revenue Code of 1986, as amended by the Preservation of 

16 Access to Care for Medicare Beneficiaries and Pension Re17 lief Act of 2010, is amended by striking ‘‘after August 31, 

18 2008’’ each place it appears in subparagraphs (A)(i) and 

19 (B)(i)(I) and inserting ‘‘on or after June 30, 2008’’. 

20 (c) EFFECTIVE DATE AND SPECIAL RULES.—The 

21 amendments made by this section shall take effect as of the 

22 first day of the first plan year beginning on or after June 

23 30, 2008, except that any election a plan sponsor makes 

24 pursuant to this section or the amendments made thereby 

25 that affects the plan’s funding standard account for any 
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1 plan year beginning before October 1, 2009, shall be dis2 regarded for purposes of applying the provisions of section 

3 305 of the Employee Retirement Income Security Act of 

4 1974 and section 432 of the Internal Revenue Code of 1986 

5 to that plan year. 

Amend the title so as to read: ‘‘An Act to amend the 

Internal Revenue Code of 1986 to make technical corrections to the pension funding provisions of the Preservation of Access to Care for Medicare Beneficiaries and 

Pension Relief Act of 2010.’’. 

Attest: 

Secretary. 

111TH CONGRESS 

2D SESSION H.R. 4915 

AMENDMENTS