In the Senate of the United States, 
December 18, 2010. 
Resolved, That the bill from the House of Representa-
tives (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: 
SECTION 1. DEFINITION OF ELIGIBLE PLAN YEAR. 
(a) AMENDMENT TO ERISA.—Clause (v) of section 
303(c)(2)(D) of the Employee Retirement Income Security 
Act of 1974 (29 U.S.C. 1083(c)(2)(D)), as added by section 
201(a)(1) of the Preservation of Access to Care for Medicare 
Beneficiaries and Pension Relief Act of 2010, is amended— 
(1) by striking ‘‘on or after the date of the enact-
ment of this subparagraph’’ and inserting ‘‘on or
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after June 25, 2010 (March 10, 2010, in the case of 
an eligible plan)’’, and 
(2) by adding at the end the following new sen-
tence: ‘‘For purposes of the preceding sentence, a plan 
shall be treated as an eligible plan only if, as of the 
date of the election with respect to the plan under 
clause (i)— 
‘‘(A) the plan sponsor is not a debtor in a 
case under title 11, United States Code, or simi-
lar Federal or State law, 
‘‘(B) there are no unpaid minimum re-
quired contributions with respect to the plan for 
purposes of section 4971 of the Internal Revenue 
Code of 1986 (imposing an excise tax when min-
imum required contributions are not paid by the 
due date for the plan year), 
‘‘(C) there are no outstanding liens in favor 
of the plan under subsection (k), and 
‘‘(D) the plan sponsor has not initiated a 
distress termination of the plan under section 
4041.’’. 
(b) AMENDMENT TO INTERNAL REVENUE CODE OF 
1986.—Clause (v) of section 430(c)(2)(D) of the Internal 
Revenue Code of 1986, as added by section 201(b)(1) of the
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Preservation of Access to Care for Medicare Beneficiaries 
and Pension Relief Act of 2010, is amended— 
(1) by striking ‘‘on or after the date of the enact-
ment of this subparagraph’’ and inserting ‘‘on or 
after June 25, 2010 (March 10, 2010, in the case of 
an eligible plan)’’, and 
(2) by adding at the end the following new sen-
tence: ‘‘For purposes of the preceding sentence, a plan 
shall be treated as an eligible plan only if, as of the 
date of the election with respect to the plan under 
clause (i)— 
‘‘(A) the plan sponsor is not a debtor in a 
case under title 11, United States Code, or simi-
lar Federal or State law, 
‘‘(B) there are no unpaid minimum re-
quired contributions with respect to the plan for 
purposes of section 4971 (imposing an excise tax 
when minimum required contributions are not 
paid by the due date for the plan year), 
‘‘(C) there are no outstanding liens in favor 
of the plan under subsection (k), and 
‘‘(D) the plan sponsor has not initiated a 
distress termination of the plan under section 
4041 of the Employee Retirement Income Secu-
rity Act of 1974.’’.
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(c) EFFECTIVE DATE.—The amendments made by this 
section shall take effect as if included in the amendments 
made by the provisions of the Preservation of Access to Care 
for Medicare Beneficiaries and Pension Relief Act of 2010 
to which the amendments relate. 
SEC. 2. ELIGIBLE CHARITY PLANS. 
(a) DEFINITION OF ELIGIBLE CHARITY PLANS.— 
(1) IN GENERAL.—Section 104(d) of the Pension 
Protection Act of 2006, as added by section 202(b) of 
the Preservation of Access to Care for Medicare Bene-
ficiaries and Pension Relief Act of 2010, is amended 
to read as follows: 
‘‘(d) ELIGIBLE CHARITY PLAN DEFINED.—For pur-
poses of this section, a plan shall be treated as an eligible 
charity plan for a plan year if— 
‘‘(1) the plan is maintained by one or more em-
ployers employing employees who are accruing bene-
fits based on service for the plan year, 
‘‘(2) such employees are employed in at least 20 
States, 
‘‘(3) more than 98 percent of such employees are 
employed by an employer described in section 
501(c)(3) of such Code and the primary exempt pur-
pose of each such employer is to provide services with 
respect to children, and
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‘‘(4) the plan sponsor elects (at such time and in 
such form and manner as shall be prescribed by the 
Secretary of the Treasury) to be so treated. 
Any election under this subsection may be revoked only with 
the consent of the Secretary of the Treasury.’’. 
(2) EFFECTIVE DATE.—The amendment made by 
this subsection shall take effect as if included in the 
amendment made by the provision of the Preservation 
of Access to Care for Medicare Beneficiaries and Pen-
sion Relief Act of 2010 to which the amendment re-
lates (determined after application of the amendment 
made by subsection (c)), except that a plan sponsor 
may elect to apply such amendment to plan years be-
ginning on or after January 1, 2011. 
(b) REGULATIONS.—The Secretary of the Treasury 
may prescribe such regulations as may be necessary to 
carry out the purposes of the amendments made by section 
202(b) of the Preservation of Access to Care for Medicare 
Beneficiaries and Pension Relief Act of 2010 and the 
amendment made by subsection (a). 
(c) APPLICATION OF NEW RULES TO ELIGIBLE CHAR-
ITY PLANS.— 
(1) IN
GENERAL.—Paragraph (2) of section 
202(c) of the Preservation of Access to Care for Medi-
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care Beneficiaries and Pension Relief Act of 2010 is 
amended to read as follows: 
‘‘(2) ELIGIBLE
CHARITY
PLANS.—The amend-
ments made by subsection (b) shall apply to plan 
years beginning after December 31, 2010, except that 
a plan sponsor may elect to apply such amendments 
to plan years beginning after an earlier date.’’. 
(2) EFFECTIVE DATE.—The amendment made by 
this subsection shall take effect as if included in the 
amendment made by the provision of the Preservation 
of Access to Care for Medicare Beneficiaries and Pen-
sion Relief Act of 2010 to which the amendment re-
lates. 
SEC. 3. SUSPENSION OF CERTAIN FUNDING LEVEL LIMITA-
TIONS. 
(a) LIMITATIONS
ON BENEFIT ACCRUALS.—Section 
203 of the Worker, Retiree, and Employer Recovery Act of 
2008 (Public Law 110–458; 122 Stat. 5118) is amended— 
(1) by striking ‘‘the first plan year beginning 
during the period beginning on October 1, 2008, and 
ending on September 30, 2009’’ and inserting ‘‘any 
plan year beginning during the period beginning on 
October 1, 2008, and ending on December 31, 2011’’; 
(2) by striking ‘‘substituting’’ and all that fol-
lows through ‘‘for such plan year’’ and inserting
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‘‘substituting for such percentage the plan’s adjusted 
funding target attainment percentage for the last plan 
year ending before September 30, 2009,’’; and 
(3) by striking ‘‘for the preceding plan year is 
greater’’ and inserting ‘‘for such last plan year is 
greater’’. 
(b) SOCIAL SECURITY LEVEL-INCOME OPTIONS.— 
(1) ERISA AMENDMENT.—Section 206(g)(3)(E) 
of the Employee Retirement Income Security Act of 
1974 is amended by adding at the end the following 
new sentence: ‘‘For purposes of applying clause (i) in 
the case of payments the annuity starting date for 
which occurs on or before December 31, 2011, pay-
ments under a social security leveling option shall be 
treated as not in excess of the monthly amount paid 
under a single life annuity (plus an amount not in 
excess of a social security supplement described in the 
last sentence of section 204(b)(1)(G)).’’. 
(2) IRC AMENDMENT.—Section 436(d)(5) of the 
Internal Revenue Code of 1986 is amended by adding 
at the end the following new sentence: ‘‘For purposes 
of applying subparagraph (A) in the case of pay-
ments the annuity starting date for which occurs on 
or before December 31, 2011, payments under a social 
security leveling option shall be treated as not in ex-
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cess of the monthly amount paid under a single life 
annuity (plus an amount not in excess of a social se-
curity supplement described in the last sentence of 
section 411(a)(9)).’’. 
(3) EFFECTIVE DATE.— 
(A) IN GENERAL.—The amendments made 
by this subsection shall apply to annuity pay-
ments the annuity starting date for which occurs 
on or after January 1, 2011. 
(B) PERMITTED
APPLICATION.—A plan 
shall not be treated as failing to meet the re-
quirements of sections 206(g) of the Employee 
Retirement Income Security Act of 1974 (as 
amended by this subsection) and section 436(d) 
of the Internal Revenue Code of 1986 (as so 
amended) if the plan sponsor elects to apply the 
amendments made by this subsection to pay-
ments the annuity starting date for which occurs 
before January 1, 2011. 
(c) REPEAL OF RELATED PROVISIONS.—The provi-
sions of, and the amendments made by, section 203 of the 
Preservation of Access to Care for Medicare Beneficiaries 
and Pension Relief Act of 2010 are repealed and the Em-
ployee Retirement Income Security Act of 1974, the Inter-
nal Revenue Code of 1986, and the Worker, Retiree, and
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Employer Recovery Act of 2008 (Public Law 110–458; 122 
Stat. 5118) shall be applied as if such section had never 
been enacted. 
SEC. 4. OPTIONAL USE OF 30-YEAR AMORTIZATION PERI-
ODS. 
(a) AMENDMENT TO ERISA.—Paragraph (8) of sec-
tion 304(b) of the Employee Retirement Income Security 
Act of 1974, as amended by the Preservation of Access to 
Care for Medicare Beneficiaries and Pension Relief Act of 
2010, is amended by striking ‘‘after August 31, 2008’’ each 
place it appears in subparagraphs (A)(i), (B)(i)(I), and 
(B)(i)(II), and inserting ‘‘on or after June 30, 2008’’. 
(b) AMENDMENT TO INTERNAL REVENUE CODE OF 
1986 .—Paragraph (8) of section 431(b) of the Internal 
Revenue Code of 1986, as amended by the Preservation of 
Access to Care for Medicare Beneficiaries and Pension Re-
lief Act of 2010, is amended by striking ‘‘after August 31, 
2008’’ each place it appears in subparagraphs (A)(i) and 
(B)(i)(I) and inserting ‘‘on or after June 30, 2008’’. 
(c) EFFECTIVE DATE
AND SPECIAL RULES.—The 
amendments made by this section shall take effect as of the 
first day of the first plan year beginning on or after June 
30, 2008, except that any election a plan sponsor makes 
pursuant to this section or the amendments made thereby 
that affects the plan’s funding standard account for any
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plan year beginning before October 1, 2009, shall be dis-
regarded for purposes of applying the provisions of section 
305 of the Employee Retirement Income Security Act of 
1974 and section 432 of the Internal Revenue Code of 1986 
to that plan year. 
Amend the title so as to read: ‘‘An Act to amend the 
Internal Revenue Code of 1986 to make technical correc-
tions to the pension funding provisions of the Preserva-
tion of Access to Care for Medicare Beneficiaries and 
Pension Relief Act of 2010.’’. 
Attest: 
Secretary.