64120 Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Rules and Regulations 

1 17 CFR 249.331 and 274.128. 

2 17 CFR 249.330 and 274.101. 

3 15 U.S.C. 78a et seq. 4 15 U.S.C. 80a–1 et seq. 5Pub. L. 111–195, 124 Stat. 1312 (2010). 

BILLING CODE 4910–13–C 

Appendix 2 to AD 2010–21–18— 

Airworthiness Limitations for the Aviation 

Enterprises Aircraft Manual Supplement 

(1) Limit the airplane MTOW to 4,700 LBS. 

(2) For airplane weights above 3,300 LBS, 

at least 12 gallons of fuel must be maintained 

in each wing tip. 

Appendix 3 to AD 2010–21–18— 

Airworthiness Limitations for the Aviation 

Enterprises Aircraft Manual Supplement 

(1) Limit the MTOW to 4,000 LBS. 

(2) Limit the max maneuver to 2.5 G. 

(3) Limit Va to 100 KCAS. 

(4) Vno to 105 KCAS. 

(5) Limit Vne to 135 KCAS. 

(6) Limit operation to VFR only. 

Issued in Kansas City, Missouri, on 

October 4, 2010. 

Christina L. Marsh, 

Acting Manager, Small Airplane Directorate, 

Aircraft Certification Service. 

[FR Doc. 2010–25434 Filed 10–18–10; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Parts 249 and 274 

[Release Nos. 34–63087; IC–29461] 

Technical Amendments to Forms N– 

CSR and N–SAR in Connection With 

the Comprehensive Iran Sanctions, 

Accountability, and Divestment Act of 

2010 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Final rule; technical 

amendments. 

SUMMARY: The Securities and Exchange 

Commission is adopting technical 

amendments to Forms N–CSR and N– 

SAR under the Securities Exchange Act 

of 1934 and the Investment Company 

Act of 1940 in connection with 

amendments to Section 13(c) of the 

Investment Company Act that were 

included in the Comprehensive Iran 

Sanctions, Accountability, and 

Divestment Act of 2010. 

DATES: Effective Date: October 19, 2010. 

FOR FURTHER INFORMATION CONTACT: 

Kieran G. Brown, Senior Counsel, Office 

of Disclosure Regulation, Division of 

Investment Management, at (202) 551– 

6784, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–5720. 

SUPPLEMENTARY INFORMATION: The 

Securities and Exchange Commission 

(‘‘Commission’’) is adopting technical 

amendments to Form N–CSR1 and Form 

N–SAR 2 under the Securities Exchange 

Act of 1934 (‘‘Exchange Act’’) 3 and the 

Investment Company Act of 1940 

(‘‘Investment Company Act’’).4

I. Discussion 

On July 1, 2010, the President signed 

the Comprehensive Iran Sanctions, 

Accountability, and Divestment Act of 

2010 (‘‘Iran Divestment Act’’) into law.5

Among other things, the Iran 


emcdonald on DSK2BSOYB1PROD with RULESER19OC10.022</GPH>
Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Rules and Regulations 64121 

6 15 U.S.C. 80a–13(c). 

7Section 203(a) of the Iran Divestment Act [to be 

codified at 15 U.S.C. 80a–13(c)(1)(B)]. 

8 15 U.S.C. 80a–13(c)(2)(B). 

9Section 203(b) of the Iran Divestment Act. 

10 Item 6(b) of Form N–CSR; Item 133 of Form N– 

SAR. The regulations require disclosure of 

information that will identify the securities 

divested and the magnitude of the divestment, 

including the issuer’s name; exchange ticker 

symbol; Committee on Uniform Securities 

Identification Procedures (‘‘CUSIP’’) number; total 

number of shares or, for debt securities, principal 

amount divested; and dates that the securities were 

divested. Item 6(b)(1)–(5) of Form N–CSR; Items 

133.A–E of Form N–SAR. In addition, if the 

registered investment company continues to hold 

any securities of the divested issuer, it is required 

to disclose the exchange ticker symbol; CUSIP 

number; and total number of shares or, for debt 

securities, principal amount of such securities, held 

on the date of filing. Item 6(b)(6) of Form N–CSR; 

Item 133.F of Form N–SAR. While a registered 

investment company is not required to include 

disclosure under the relevant Item, the limitation 

on actions provided in Section 13(c) does not apply 

with respect to a divestment that is not disclosed. 

Instruction 1 to Item 6(b) of Form N–CSR; 

Instruction to Item 133 of Form N–SAR. 

11Sudan Accountability and Divestment Act of 

2007, Pub. L. 110–174, 121 Stat. 2516 (2007); 

Investment Company Act Release No. 28254 (Apr. 

24, 2008) [73 FR 23328, 23328 (Apr. 30, 2008)] 

(adoption of Item 6(b) of Form N–CSR and Item 133 

of Form N–SAR). 

12 Item 6(b)(7) of Form N–CSR; Item 133.G. of 

Form N–SAR. 

13 5 U.S.C. 553(b)(B). 

Divestment Act amended Section 13(c) 

of the Investment Company Act 6 to 

provide that no person may bring any 

civil, criminal, or administrative action 

against any registered investment 

company, or any employee, officer, 

director, or investment adviser of the 

investment company, based solely upon 

the investment company divesting from, 

or avoiding investing in, securities 

issued by persons that the investment 

company determines, using credible 

information that is available to the 

public, engage in certain investment 

activities in Iran.7 Section 13(c)(2)(B) of 

the Investment Company Act provides 

that this limitation on actions does not 

apply to a registered investment 

company, or any of its employees, 

officers, directors, or investment 

advisers, unless the investment 

company makes disclosures about the 

divestments in accordance with 

regulations prescribed by the 

Commission.8 To that end, the Iran 

Divestment Act requires that we issue, 

not later than 120 days after enactment, 

any revisions we determine to be 

necessary to the regulations requiring 

disclosure by each registered investment 

company that divests itself of securities 

in accordance with Section 13(c) of the 

Investment Company Act to include 

divestments of securities in accordance 

with the amendments added by the Iran 

Divestment Act.9

Under our current regulations, each 

registered investment company that 

divests itself of securities in accordance 

with Section 13(c) of the Investment 

Company Act is required to disclose the 

divestment on the next Form N–CSR or 

Form N–SAR that it files following the 

divestment. Management investment 

companies are required to provide the 

disclosure on Form N–CSR, pursuant to 

Item 6(b) of the form, and unit 

investment trusts are required to 

provide the disclosure on Form N–SAR, 

pursuant to Item 133 of the form.10

These form items were originally 

adopted to implement the Sudan 

Accountability and Divestment Act of 

2007 (‘‘Sudan Divestment Act’’), which 

limits civil, criminal, and administrative 

actions that may be brought against a 

registered investment company that 

divests from securities of issuers that 

conduct or have direct investments in 

certain business operations in Sudan, 

provided that the investment company 

makes disclosures in accordance with 

regulations prescribed by the 

Commission.11 As a result, each item 

contains a termination provision that is 

based on the termination of the relevant 

provisions of the Sudan Divestment Act. 

Moreover, the instructions to the items 

contain references to the Sudan 

Divestment Act. Specifically, 

Instruction 1 to Item 6(b) of Form N– 

CSR and the Instruction to Item 133 of 

Form N–SAR each include a statement 

that Section 13(c) of the Investment 

Company Act was added by the Sudan 

Divestment Act. In addition, the 

heading to the Instruction to Item 133 of 

Form N–SAR includes a reference to the 

Sudan Divestment Act. 

The requirements of Item 6(b) of Form 

N–CSR and Item 133 of Form N–SAR 

apply to divestment of securities in 

accordance with Section 13(c) of the 

Investment Company Act. Therefore, we 

have determined that the items are 

broad enough to apply to disclosure of 

divestment of securities in accordance 

with the amendments to Section 13(c) 

added by the Iran Divestment Act 

without substantive revision. However, 

we have determined that it is 

appropriate to make technical revisions 

that remove the references to the Sudan 

Divestment Act from the forms and 

require disclosure of a Section 13(c) 

divestment to specify whether it is 

undertaken pursuant to the Sudan 

Divestment Act or the Iran Divestment 

Act. 

Specifically, in accordance with the 

Iran Divestment Act, we are amending 

our forms to delete the references to the 

Sudan Divestment Act from Instruction 

1 to Item 6(b) of Form N–CSR, the 

Instruction to Item 133 of Form N–SAR, 

and the heading to the Instruction to 

Item 133 of Form N–SAR. We are also 

amending the termination provisions in 

Item 6(b) of Form N–CSR and Item 133 

of Form N–SAR to eliminate the 

references to termination of the Sudan 

Divestment Act and to provide, more 

generically, that the disclosure 

requirements terminate one year after 

the first date on which all statutory 

provisions that underlie Section 13(c) of 

the Investment Company Act (i.e., the 

provisions of both the Sudan 

Divestment Act and the Iran Divestment 

Act) have terminated. Finally, we are 

amending Item 6(b) of Form N–CSR and 

Item 133 of Form N–SAR to require that 

any registrant that divests itself of 

securities in accordance with Section 

13(c) of the Investment Company Act 

must disclose the name of the statute 

that added the provision of Section 

13(c) in accordance with which the 

securities were divested (i.e., the ‘‘Sudan 

Accountability and Divestment Act’’ or 

the ‘‘Comprehensive Iran Sanctions, 

Accountability, and Divestment Act’’).12

We are adding this requirement so that 

it will be clear from the disclosure 

which provision of Section 13(c) is 

being relied upon in connection with 

the divestment. 

II. Procedural and Other Matters 

Under the Administrative Procedure 

Act (‘‘APA’’), notice and public 

comment procedures are not required 

when an agency, for good cause, finds 

‘‘that notice and public procedure 

thereon are impracticable, unnecessary, 

or contrary to the public interest.’’ 13 As 

discussed in this document, because no 

substantive revisions to our forms 

requiring Section 13(c) divestment 

disclosure are necessary to conform 

them to Section 203(b) of the Iran 

Divestment Act, the Commission 

believes that good cause exists to 

dispense with a public notice and 

comment period for these amendments. 

We have determined that only technical 

revisions to our forms are appropriate to 

make the existing forms consistent with 

the Iran Divestment Act. The technical 

amendments to Forms N–CSR and N– 

SAR remove references to the Sudan 

Divestment Act from Item 6(b) of Form 

N–CSR and Item 133 of Form N–SAR. 

The technical amendments also require 

that any registrant that divests itself of 

securities in accordance with Section 

13(c) of the Investment Company Act 

must disclose the name of the statute 

under which the securities were 

divested. Because these revisions 

merely revise Item 6(b) of Form N–CSR 


emcdonald on DSK2BSOYB1PROD with RULES
64122 Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Rules and Regulations 

14This finding also satisfies the requirements of 

5 U.S.C. 808(2) (if a federal agency finds that notice 

and public comment are ‘‘impractical, unnecessary 

or contrary to the public interest,’’ a rule ‘‘shall take 

effect at such time as the federal agency 

promulgating the rule determines’’), allowing the 

amendments to become effective notwithstanding 

the requirement of 5 U.S.C. 801. 

The amendments do not require analysis under 

the Regulatory Flexibility Act. See 5 U.S.C. 601(2) 

(for purposes of Regulatory Flexibility Act analysis, 

the term ‘‘rule’’ means any rule for which the agency 

publishes a general notice of proposed rulemaking). 

15 5 U.S.C. 553(d). 

16 44 U.S.C. 3501 et seq. 

17 Investment Company Act Release No. 28254, 

supra note 11, at 23330. 

18See id. (6,743 annual and semi-annual filings 

on Form N–CSR × 15% of filings on Form N–CSR) 

+ (90 filings on Form N–SAR × 15% of filings on 

Form N–SAR) = 1,025 filings. 

19Based on the Commission staff’s review of 

filings made with the Commission. 

20 Investment Company Act Release No. 28254, 

supra note 11, at 23330. 

21 Id. 

22 15 U.S.C. 78w(a)(2). 

23 15 U.S.C. 78c(f). 

24 15 U.S.C. 80a–2(c). 

and Item 133 of Form N–SAR to make 

them consistent with a newly enacted 

statute, Section 203 of the Iran 

Divestment Act, the Commission finds 

that the amendments are technical in 

nature and that publishing the 

amendments for comment is 

unnecessary.14

Publication of a substantive rule not 

less than 30 days before its effective 

date is required by the APA except as 

otherwise provided by the agency for 

good cause.15 For the same reasons 

described above with respect to notice 

and opportunity for comment, the 

Commission finds that there is good 

cause for making the technical 

amendments to each of the forms 

effective on the date of publication in 

the Federal Register. 

The form amendments contain 

‘‘collection of information’’ requirements 

within the meaning of the Paperwork 

Reduction Act of 1995 (‘‘PRA’’).16 The 

titles for the collections of information 

are ‘‘Form N–CSR under the Investment 

Company Act of 1940 and Securities 

Exchange Act of 1934, Certified 

Shareholder Report,’’ and ‘‘Form N–SAR 

under the Investment Company Act of 

1940, Semi-Annual Report for 

Registered Investment Companies.’’ 

Form N–CSR (OMB Control No. 3235– 

0570) under the Exchange Act and the 

Investment Company Act is used by 

registered management investment 

companies filing certified shareholder 

reports. Form N–SAR (OMB Control No. 

3235–0330) under the Exchange Act and 

the Investment Company Act is used by 

registered investment companies to file 

periodic reports with the Commission. 

An agency may not conduct or sponsor, 

and a person is not required to respond 

to, a collection of information unless it 

displays a currently valid OMB control 

number. 

We do not believe that the technical 

amendments necessitate an increase in 

the current PRA burden estimates for 

Form N–CSR and Form N–SAR. When 

the forms were originally amended to 

implement the Sudan Divestment Act, 

we estimated that approximately 15% of 

all registered investment companies had 

an objective of investing 

internationally.17 We also 

conservatively assumed that every 

investment company portfolio that had 

an international investment strategy 

would disclose a divestment in 

accordance with the Sudan Divestment 

Act on each semi-annual filing, for a 

total of approximately 1,000 such filings 

per year.18 Since then, however, it 

appears that there have been less than 

ten total filings by investment 

companies disclosing a divestment in 

accordance with the Sudan Divestment 

Act.19 Based on this experience, we do 

not believe that it is appropriate to 

adjust our existing estimate upwards to 

reflect additional filings for divestments 

in accordance with the Iran Divestment 

Act. 

We also do not believe that the 

technical amendments necessitate a 

decrease in the current PRA burden 

estimates for Form N–CSR and Form N– 

SAR. Because we do not know the 

extent to which divestments in 

accordance with the Iran Divestment 

Act will occur, we believe that it is 

appropriate to maintain a conservative 

assumption that each Form N–CSR and 

N–SAR filing by an international 

portfolio will have a disclosure either 

with respect to the Sudan Divestment 

Act or the Iran Divestment Act. In 

addition, any decrease in the estimates 

would be insignificant relative to the 

total current PRA burden estimates for 

Form N–CSR and Form N–SAR because 

the estimated current PRA burden for 

the Section 13(c) disclosure is itself 

insignificant relative to the total burden 

estimates for these forms, i.e., 510 hours 

(out of a total burden of 138,662.5 

hours, or 0.37%) 20 for Form N–CSR and 

10 hours (out of a total burden of 

107,213 hours, or 0.01%) 21 for Form N– 

SAR. 

Section 23(a)(2) of the Exchange 

Act 22 requires us, when adopting rules 

under the Exchange Act, to consider the 

impact that any new rule would have on 

competition. Section 23(a)(2) also 

prohibits us from adopting any rule that 

would impose a burden on competition 

not necessary or appropriate in 

furtherance of the purposes of the 

Exchange Act. In addition, Section 3(f) 

of the Exchange Act 23 requires the 

Commission, when engaging in 

rulemaking that requires it to consider 

or determine whether an action is 

necessary or appropriate in the public 

interest, to consider, in addition to the 

protection of investors, whether the 

action will promote efficiency, 

competition, and capital formation. 

Section 2(c) of the Investment Company 

Act 24 requires the Commission, when 

engaging in rulemaking that requires it 

to consider or determine whether an 

action is consistent with the public 

interest, to consider, in addition to the 

protection of investors, whether the 

action will promote efficiency, 

competition, and capital formation. 

Because the amendments are technical 

in nature, we do not anticipate that any 

competitive advantages or 

disadvantages would be created. We do 

not expect that the amendments, as 

technical amendments, will have an 

effect on efficiency, competition, or 

capital formation. Moreover, the 

Commission is taking this action to 

make Forms N–CSR and N–SAR 

consistent with the Iran Divestment Act. 

Thus, any costs and benefits and other 

economic effects resulting from these 

amendments are mandated under the 

Act. 

III. Statutory Authority 

The Commission is adopting 

amendments to Form N–SAR and Form 

N–CSR pursuant to authority set forth in 

Section 203(b) of the Comprehensive 

Iran Sanctions, Accountability, and 

Divestment Act of 2010 and Sections 

10(b), 13, 15(d), 23(a), and 36 of the 

Exchange Act [15 U.S.C. 78j(b), 78m, 

78o(d), 78w(a), and 78mm], and 

Sections 8, 13(c), 24(a), 30, and 38 of the 

Investment Company Act [15 U.S.C. 

80a–8, 80a–13(c), 80a–24(a), 80a–29, 

and 80a–37]. 

List of Subjects 

17 CFR Part 249 

Reporting and recordkeeping 

requirements, Securities. 

17 CFR Part 274 

Investment companies, Reporting and 

recordkeeping requirements, Securities. 

Text of Form Amendments 

■ For the reasons set out in the 

preamble, the Commission amends Title 

17, Chapter II, of the Code of Federal 

Regulations as follows. 


emcdonald on DSK2BSOYB1PROD with RULES
Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Rules and Regulations 64123 

PART 249—FORMS, SECURITIES 

EXCHANGE ACT OF 1934 

■ 1. The authority citation for part 249 

continues to read in part as follows: 

Authority: 15 U.S.C. 78a et seq. and 7201 

et seq.; and 18 U.S.C. 1350, unless otherwise 

noted. 

* * * * * 

PART 274—FORMS PRESCRIBED 

UNDER THE INVESTMENT COMPANY 

ACT OF 1940 

■ 2. The authority citation for part 274 

continues to read in part as follows: 

Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 

78c(b), 78l, 78m, 78n, 78o(d), 80a–8, 80a–24, 

80a–26, and 80a–29, unless otherwise noted. 

* * * * * 

■ 3. Form N–SAR (referenced in 

§§ 249.330 and 274.101) is amended by: 

■ a. In paragraph E. of Item 133, deleting 

the word ‘‘and’’; 

■ b. In paragraph F. of Item 133, revising 

‘‘filing.’’ to read ‘‘filing; and’’; 

■ c. Adding new paragraph G. to Item 

133; 

■ d. Revising the sentence immediately 

following new paragraph G. to Item 133; 

■ e. In the heading to the Instruction to 

Item 133, deleting the phrase ‘‘in 

Accordance with the Sudan 

Accountability and Divestment Act of 

2007’’; and 

■ f. In the first sentence of the 

Instruction to Item 133, deleting the 

phrase ‘‘, which was added by the Sudan 

Accountability and Divestment Act of 

2007’’. The addition and revision read as 

follows: 

Note: The text of Form N–SAR does not, 

and these amendments will not, appear in 

the Code of Federal Regulations. 

Form N–SAR 

* * * * * 

133. * * * 

G. Name of the statute that added the 

provision of Section 13(c) in accordance 

with which the securities were divested. 

This item 133 shall terminate one year 

after the first date on which all statutory 

provisions that underlie Section 13(c) of 

the Investment Company Act of 1940 

have terminated. 

* * * * * 

■ 4. Form N–CSR (referenced in 

§§ 249.331 and 274.128) is amended by: 

■ a. In paragraph (b)(5) of Item 6, 

deleting the word ‘‘and’’; 

■ b. In paragraph (b)(6) of Item 6, 

revising ‘‘filing.’’ to read ‘‘filing; and’’; 

■ c. Adding new paragraph (7) to Item 

6(b); 

■ d. Revising the sentence immediately 

following new paragraph (7) to Item 

6(b); and 

■ e. In Instruction 1 to paragraph (b) of 

Item 6, deleting the phrase ‘‘, which was 

added by the Sudan Accountability and 

Divestment Act of 2007’’. 

The addition and revision read as 

follows: 

Note: The text of Form N–CSR does not, 

and these amendments will not, appear in 

the Code of Federal Regulations. 

Form N–CSR 

* * * * * 

Item 6. Investments. 

(a) * * * 

(b) * * * 

(7) Name of the statute that added the 

provision of Section 13(c) in accordance 

with which the securities were divested. 

This Item 6(b) shall terminate one 

year after the first date on which all 

statutory provisions that underlie 

Section 13(c) of the Investment 

Company Act of 1940 have terminated. 

* * * * * 

By the Commission. 

October 13, 2010. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–26206 Filed 10–18–10; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9505] 

RIN 1545–BG36 

Hybrid Retirement Plans 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final Regulations. 

SUMMARY: This document contains final 

regulations providing guidance relating 

to certain provisions of the Internal 

Revenue Code (Code) that apply to 

hybrid defined benefit pension plans. 

These regulations provide guidance on 

changes made by the Pension Protection 

Act of 2006, as amended by the Worker, 

Retiree, and Employer Recovery Act of 

2008. These regulations affect sponsors, 

administrators, participants, and 

beneficiaries of hybrid defined benefit 

pension plans. 

DATES: Effective Date: These regulations 

are effective on October 19, 2010. 

Applicability Date: These regulations 

generally apply to plan years that begin 

on or after January 1, 2011. However, 

see the ‘‘Effective/Applicability Dates’’ 

section in this preamble for additional 

information regarding the applicability 

of these regulations. 

FOR FURTHER INFORMATION CONTACT: Neil 

S. Sandhu, Lauson C. Green, or Linda 

S. F. Marshall at (202) 622–6090 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

This document contains amendments 

to the Income Tax Regulations (26 CFR 

part 1) under sections 411(a)(13) and 

411(b)(5) of the Code. Generally, a 

defined benefit pension plan must 

satisfy the minimum vesting standards 

of section 411(a) and the accrual 

requirements of section 411(b) in order 

to be qualified under section 401(a) of 

the Code. Sections 411(a)(13) and 

411(b)(5), which modify the minimum 

vesting standards of section 411(a) and 

the accrual requirements of section 

411(b), were added to the Code by 

section 701(b) of the Pension Protection 

Act of 2006, Public Law 109–280 (120 

Stat. 780 (2006)) (PPA ’06). Sections 

411(a)(13) and 411(b)(5), as well as 

certain effective date provisions related 

to these sections, were subsequently 

amended by the Worker, Retiree, and 

Employer Recovery Act of 2008, Public 

Law 110–458 (122 Stat. 5092 (2008)) 

(WRERA ’08). 

Section 411(a)(13)(A) provides that an 

applicable defined benefit plan (which 

is defined in section 411(a)(13)(C)) is 

not treated as failing to meet either 

(i) the requirements of section 411(a)(2) 

(subject to a special vesting rule in 

section 411(a)(13)(B) with respect to 

benefits derived from employer 

contributions) or (ii) the requirements of 

section 411(a)(11), 411(c), or 417(e), 

with respect to accrued benefits derived 

from employer contributions, merely 

because the present value of the accrued 

benefit (or any portion thereof) of any 

participant is, under the terms of the 

plan, equal to the amount expressed as 

the balance of a hypothetical account or 

as an accumulated percentage of the 

participant’s final average 

compensation. Section 411(a)(13)(B) 

requires an applicable defined benefit 

plan to provide that an employee who 

has completed at least 3 years of service 

has a nonforfeitable right to 100 percent 

of the employee’s accrued benefit 

derived from employer contributions. 

Under section 411(a)(13)(C)(i), an 

applicable defined benefit plan is 

defined as a defined benefit plan under 

which the accrued benefit (or any 

portion thereof) of a participant is 

calculated as the balance of a 

hypothetical account maintained for the 

participant or as an accumulated 

percentage of the participant’s final 


emcdonald on DSK2BSOYB1PROD with RULES