‘‘(II) the amount of plan-related 
expenses expected to be paid from 
plan assets during the plan year, over 
‘‘(ii) the amount of mandatory em-
ployee contributions expected to be made 
during the plan year, plus’’, and 
(II) in subparagraph (B), by 
striking ‘‘the target normal cost (de-
termined without regard to this para-
graph) of the plan for the plan year’’ 
and inserting ‘‘the amount determined 
under subsection (b)(1)(A)(i) with re-
spect to the plan for the plan year’’, 
and 
(ii) by striking ‘‘subparagraph (A)(ii)’’ 
in the last sentence of paragraph (4)(B) 
and inserting ‘‘subparagraph (A)’’. 
(G) Section 303(j)(3) of ERISA— 
(i) is amended by adding at the end of 
subparagraph (A) the following new sen-
tence: ‘‘In the case of plan years beginning 
in 2008, the funding shortfall for the pre-
ceding plan year may be determined using 
such methods of estimation as the Sec-
retary of the Treasury may provide.’’,
(ii) by adding at the end of subpara-
graph (E) the following new clause: 
‘‘(iii) PLAN WITH ALTERNATE VALU-
ATION DATE.—The Secretary of the Treas-
ury shall prescribe regulations for the ap-
plication of this paragraph in the case of 
a plan which has a valuation date other 
than the first day of the plan year.’’, and 
(iii) by striking ‘‘AND SHORT YEARS’’ 
in the heading of subparagraph (E) and 
inserting ‘‘, SHORT
YEARS, AND
YEARS 
WITH ALTERNATE VALUATION DATE’’. 
(H) Section 303(k)(6)(B) of ERISA is 
amended by striking ‘‘, except’’ and all that fol-
lows and inserting a period. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 430(b) of the 1986 Code is 
amended to read as follows: 
‘‘(b) TARGET NORMAL COST.—For purposes of this 
section: 
‘‘(1) IN GENERAL.—Except as provided in sub-
section (i)(2) with respect to plans in at-risk status, 
the term ‘target normal cost’ means, for any plan 
year, the excess of— 
‘‘(A) the sum of—
‘‘(i) the present value of all benefits 
which are expected to accrue or to be 
earned under the plan during the plan 
year, plus 
‘‘(ii) the amount of plan-related ex-
penses expected to be paid from plan as-
sets during the plan year, over 
‘‘(B) the amount of mandatory employee 
contributions expected to be made during the 
plan year. 
‘‘(2) SPECIAL
RULE
FOR
INCREASE
IN
COM-
PENSATION.—For purposes of this subsection, if any 
benefit attributable to services performed in a pre-
ceding plan year is increased by reason of any in-
crease in compensation during the current plan year, 
the increase in such benefit shall be treated as hav-
ing accrued during the current plan year.’’. 
(B) Section 430(c)(5)(B)(iii) of the 1986 
Code is amended by inserting ‘‘beginning’’ be-
fore ‘‘after 2008’’. 
(C) Section 430(c)(5)(B)(iv)(II) of the 
1986 Code is amended by inserting ‘‘for such 
year’’ after ‘‘beginning in 2007)’’. 
(D) Section 430(f) of the 1986 Code is 
amended—
(i) by striking ‘‘as of the first day of 
the plan year’’ the second place it appears 
in the first sentence of paragraph (3)(A), 
(ii) by striking ‘‘paragraph (2)’’ in 
paragraph (4)(A) and inserting ‘‘para-
graph (3)’’, 
(iii) by striking ‘‘paragraph (1), (2), 
or (4) of section 206(g)’’ in paragraph 
(6)(B)(iii) and inserting ‘‘subsection (b), 
(c), or (e) of section 436’’, 
(iv) by striking ‘‘the sum of’’ in para-
graph (6)(C), and 
(v) by striking ‘‘of the Treasury’’ in 
paragraph (8). 
(E) Section 430(h)(2) of the 1986 Code is 
amended— 
(i) by inserting ‘‘and target normal 
cost’’ after ‘‘funding target’’ in subpara-
graph (B), 
(ii) by striking ‘‘liabilities’’ and insert-
ing ‘‘benefits’’ in subparagraph (B), 
(iii) 
by 
striking 
‘‘section 
417(e)(3)(D)(i)) for such month’’ in sub-
paragraph (F) and inserting ‘‘section 
417(e)(3)(D)(i) for such month)’’, and
(iv) by striking ‘‘subparagraph (B)’’ 
in subparagraph (F) and inserting ‘‘sub-
paragraph (C)’’. 
(F) Section 430(i) of the 1986 Code is 
amended— 
(i) in paragraph (2)— 
(I) by striking subparagraph (A) 
and inserting the following new sub-
paragraph: 
‘‘(A) the excess of— 
‘‘(i) the sum of— 
‘‘(I) the present value of all bene-
fits which are expected to accrue or to 
be earned under the plan during the 
plan year, determined using the addi-
tional actuarial assumptions described 
in paragraph (1)(B), plus 
‘‘(II) the amount of plan-related 
expenses expected to be paid from 
plan assets during the plan year, over 
‘‘(ii) the amount of mandatory em-
ployee contributions expected to be made 
during the plan year, plus’’, and 
(II) in subparagraph (B), by 
striking ‘‘the target normal cost (de-
termined without regard to this para-
graph) of the plan for the plan year’’ 
and inserting ‘‘the amount determined 
under subsection (b)(1)(A)(i) with re-
spect to the plan for the plan year’’, 
and 
(ii) by striking ‘‘subparagraph (A)(ii)’’ 
in the last sentence of paragraph (4)(B) 
and inserting ‘‘subparagraph (A)’’. 
(G) Section 430(j)(3) of the 1986 Code is 
amended— 
(i) by adding at the end of subpara-
graph (A) the following new sentence: ‘‘In 
the case of plan years beginning in 2008, 
the funding shortfall for the preceding plan 
year may be determined using such meth-
ods of estimation as the Secretary may 
provide.’’, 
(ii) by striking ‘‘section 302(c)’’ in 
subparagraph (D)(ii)(II) and inserting 
‘‘section 412(c)’’, 
(iii) by adding at the end of subpara-
graph (E) the following new clause: 
‘‘(iii) PLAN WITH ALTERNATE VALU-
ATION
DATE.—The Secretary shall pre-
scribe regulations for the application of 
this paragraph in the case of a plan which 
has a valuation date other than the first 
day of the plan year.’’, and 
(iv) by striking ‘‘AND SHORT YEARS’’ 
in the heading of subparagraph (E) and 
inserting ‘‘, SHORT
YEARS, AND
YEARS 
WITH ALTERNATE VALUATION DATE’’. 
(H) Section 430(k) of the 1986 Code is 
amended— 
(i) by inserting ‘‘(as provided under 
paragraph (2))’’ after ‘‘applies’’ in para-
graph (1), and 
(ii) by striking ‘‘, except’’ and all that 
follows in paragraph (6)(B) and inserting 
a period. 
(c) AMENDMENTS RELATED TO SECTIONS 103 AND 
113.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 101(j) of ERISA is amended— 
(i) in paragraph (2), by striking ‘‘sec-
tion 206(g)(4)(B)’’ and inserting ‘‘section 
206(g)(4)(A)’’; and 
(ii) by adding at the end the fol-
lowing: ‘‘The Secretary of the Treasury, in
consultation with the Secretary, shall have 
the authority to prescribe rules applicable 
to the notices required under this sub-
section.’’. 
(B) Section 206(g)(1)(B)(ii) of ERISA is 
amended by striking ‘‘a funding’’ and inserting 
‘‘an adjusted funding’’. 
(C) The heading for section 206(g)(1)(C) 
of ERISA is amended by inserting ‘‘BENEFIT’’ 
after ‘‘EVENT’’. 
(D) Section 206(g)(3)(E) of ERISA is 
amended by adding at the end the following 
new flush sentence: 
‘‘Such term shall not include the payment of a 
benefit which under section 203(e) may be im-
mediately distributed without the consent of the 
participant.’’. 
(E) Section 206(g)(5)(A)(iv) of ERISA is 
amended by inserting ‘‘adjusted’’ before ‘‘fund-
ing’’. 
(F) Section 206(g)(9)(C) of ERISA is 
amended— 
(i) by striking ‘‘without regard to this 
subparagraph and’’ in clause (i), and 
(ii) in clause (iii)—
(I) by striking ‘‘without regard to 
this 
subparagraph’’ 
and 
inserting 
‘‘without regard to the reduction in 
the value of assets under section 
303(f)(4)’’, and 
(II) by inserting ‘‘beginning’’ be-
fore ‘‘after’’ each place it appears. 
(G) Section 206(g) of ERISA is amended 
by redesignating paragraph (10) as paragraph 
(11) and by inserting after paragraph (9) the 
following new paragraph: 
‘‘(10) SECRETARIAL
AUTHORITY
FOR
PLANS 
WITH ALTERNATE VALUATION DATE.—In the case of 
a plan which has designated a valuation date other 
than the first day of the plan year, the Secretary of 
the Treasury may prescribe rules for the application 
of this subsection which are necessary to reflect the 
alternate valuation date.’’. 
(H) Section 502(c)(4) of ERISA is amend-
ed by striking ‘‘by any person’’ and all that fol-
lows through the period and inserting ‘‘by any 
person of subsection (j), (k), or (l) of section 
101 or section 514(e)(3).’’. 
(2) AMENDMENTS TO 1986 CODE.—
(A) Section 436(b)(2) of the 1986 Code is 
amended— 
(i) by striking ‘‘section 303’’ and in-
serting ‘‘section 430’’ in the matter pre-
ceding subparagraph (A), and 
(ii) by striking ‘‘a funding’’ and in-
serting ‘‘an adjusted funding’’ in subpara-
graph (B). 
(B) Section 436(b)(3) of the 1986 Code is 
amended— 
(i) by inserting ‘‘BENEFIT’’ after 
‘‘EVENT’’ in the heading, and 
(ii) by striking ‘‘any event’’ in sub-
paragraph (B) and inserting ‘‘an event’’. 
(C) Section 436(d)(5) of the 1986 Code is 
amended by adding at the end the following 
new flush sentence: 
‘‘Such term shall not include the payment of a ben-
efit which under section 411(a)(11) may be imme-
diately distributed without the consent of the partici-
pant.’’. 
(D) Section 436(f) of the 1986 Code is 
amended— 
(i) by inserting ‘‘adjusted’’ before 
‘‘funding’’ in paragraph (1)(D), and
(ii) by striking ‘‘prefunding balance 
under section 430(f) or funding standard 
carryover balance’’ in paragraph (2) and 
inserting ‘‘prefunding balance or funding 
standard carryover balance under section 
430(f)’’. 
(E) Section 436(j)(3) of the 1986 Code is 
amended— 
(i) in subparagraph (A)— 
(I) by striking ‘‘without regard to 
this paragraph and’’, 
(II) 
by 
striking 
‘‘section 
430(f)(4)(A)’’ and inserting ‘‘section 
430(f)(4)’’, and 
(III) by striking ‘‘paragraph (1)’’ 
and inserting ‘‘paragraphs (1) and 
(2)’’, and 
(ii) in subparagraph (C)— 
(I) by striking ‘‘without regard to 
this paragraph’’ and inserting ‘‘with-
out regard to the reduction in the 
value 
of 
assets 
under 
section 
430(f)(4)’’, and 
(II) by inserting ‘‘beginning’’ be-
fore ‘‘after’’ each place it appears.
(F) Section 436 of the 1986 Code is 
amended by redesignating subsection (k) as 
subsection (m) and by inserting after subsection 
(j) the following new subsections: 
‘‘(k) SECRETARIAL AUTHORITY FOR PLANS WITH 
ALTERNATE VALUATION DATE.—In the case of a plan 
which has designated a valuation date other than the first 
day of the plan year, the Secretary may prescribe rules 
for the application of this section which are necessary to 
reflect the alternate valuation date. 
‘‘(l) SINGLE-EMPLOYER PLAN.—For purposes of this 
section, the term ‘single-employer plan’ means a plan 
which is not a multiemployer plan.’’. 
(3) AMENDMENTS
TO
2006
ACT.—Sections 
103(c)(2)(A)(ii) and 113(b)(2)(A)(ii) of the 2006 
Act are each amended— 
(A) by striking ‘‘subsection’’ and inserting 
‘‘section’’, and 
(B) by striking ‘‘subparagraph’’ and in-
serting ‘‘paragraph’’. 
(d) AMENDMENTS RELATED TO SECTIONS 107 AND 
114.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 103(d) of ERISA is amend-
ed—
(i) in paragraph (3), by striking ‘‘the 
normal costs, the accrued liabilities’’ and 
inserting ‘‘the normal costs or target nor-
mal costs, the accrued liabilities or funding 
target’’, and 
(ii) by striking paragraph (7) and in-
serting the following new paragraph: 
‘‘(7) A certification of the contribution nec-
essary to reduce the minimum required contribution 
determined under section 303, or the accumulated 
funding deficiency determined under section 304, to 
zero.’’. 
(B) Section 4071 of ERISA is amended by 
striking ‘‘as section 303(k)(4) or 307(e)’’ and 
inserting ‘‘or section 303(k)(4),’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 401(a)(29) of the 1986 Code 
is amended by striking ‘‘ON PLANS IN AT-RISK 
STATUS’’ in the heading. 
(B) Section 401(a)(32)(C) of the 1986 
Code is amended— 
(i) by striking ‘‘section 430(j)’’ and 
inserting ‘‘section 430(j)(3)’’, and 
(ii) by striking ‘‘paragraph (5)(A)’’ 
and inserting ‘‘section 430(j)(4)(A)’’.
(C) Section 401(a)(33) of the 1986 Code is 
amended— 
(i) by striking ‘‘section 412(c)(2)’’ in 
subparagraph (B)(iii) and inserting ‘‘sec-
tion 412(d)(2)’’, and 
(ii) by striking ‘‘section 412(b)(2) 
(without regard to subparagraph (B) 
thereof)’’ in subparagraph (D) and insert-
ing ‘‘section 412(b)(1), without regard to 
section 412(b)(2)’’. 
(D) Section 411 of the 1986 Code is 
amended— 
(i) by striking ‘‘section 412(c)(2)’’ in 
subsection (a)(3)(C) and inserting ‘‘section 
412(d)(2)’’, and 
(ii) by striking ‘‘section 412(e)(2)’’ in 
subsection (d)(6)(A) and inserting ‘‘section 
412(d)(2)’’. 
(E) Section 414(l)(2)(B)(i)(I) of the 1986 
Code is amended to read as follows: 
‘‘(I) the sum of the funding tar-
get and target normal cost determined 
under section 430, over’’. 
(F) Section 4971 of the 1986 Code is 
amended—
inserting ‘‘to an applicable covered employee’’ after 
‘‘under the plan’’. 
SEC. 102. AMENDMENTS RELATED TO TITLE II. 
(a) AMENDMENT RELATED TO SECTIONS 201 AND 
211.—Section 201(b)(2)(A) of the 2006 Act is amended 
by striking ‘‘has not used’’ and inserting ‘‘has not adopt-
ed, or ceased using,’’. 
(b) AMENDMENTS RELATED TO SECTIONS 202 AND 
212.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 302(b)(3) of ERISA is amend-
ed by striking ‘‘the plan adopts’’ and inserting 
‘‘the plan sponsor adopts’’. 
(B) Section 305(b)(3)(C) of ERISA is 
amended by striking ‘‘section 101(b)(4)’’ and 
inserting ‘‘section 101(b)(1)’’. 
(C) Section 305(b)(3)(D) of ERISA is 
amended by striking ‘‘The Secretary’’ in clause 
(iii) and inserting ‘‘The Secretary of the Treas-
ury, in consultation with the Secretary’’. 
(D) Section 305(c)(7) of ERISA is amend-
ed— 
(i) by striking ‘‘to agree on’’ and all 
that follows in subparagraph (A)(ii) and 
inserting ‘‘to adopt a contribution schedule
with terms consistent with the funding im-
provement plan and a schedule from the 
plan sponsor,’’, and 
(ii) by striking subparagraph (B) and 
inserting the following new subparagraph: 
‘‘(B) DATE
OF
IMPLEMENTATION.—The 
date specified in this subparagraph is the date 
which is 180 days after the date on which the 
collective bargaining agreement described in 
subparagraph (A) expires.’’, and 
(iii) by adding at the end the fol-
lowing new subparagraph: 
‘‘(C) FAILURE TO MAKE SCHEDULED CON-
TRIBUTIONS.—Any failure to make a contribu-
tion under a schedule of contribution rates pro-
vided under this paragraph shall be treated as 
a delinquent contribution under section 515 and 
shall be enforceable as such.’’. 
(E) Section 305(e) of ERISA is amend-
ed— 
(i) in paragraph (3)(C)— 
(I) by striking all that follows ‘‘to 
adopt a’’ in clause (i)(II) and insert-
ing ‘‘to adopt a contribution schedule 
with terms consistent with the reha-
bilitation plan and a schedule from 
the plan sponsor under paragraph 
(1)(B)(i),’’, 
(II) by striking clause (ii) and in-
serting the following new clause: 
‘‘(ii) DATE
OF
IMPLEMENTATION.— 
The date specified in this clause is the date 
which is 180 days after the date on which 
the collective bargaining agreement de-
scribed in clause (i) expires.’’, and 
(III) by adding at the end the 
following new clause: 
‘‘(iii) FAILURE TO MAKE SCHEDULED 
CONTRIBUTIONS.—Any failure to make a 
contribution under a schedule of contribu-
tion rates provided under this subsection 
shall be treated as a delinquent contribu-
tion under section 515 and shall be en-
forceable as such.’’, 
(ii) in paragraph (4)— 
(I) by striking ‘‘the date of’’ in 
subparagraph (A)(ii), and 
(II) by striking ‘‘and taking’’ in 
subparagraph (B) and inserting ‘‘but 
taking’’,
(iii) in paragraph (6)— 
(I) 
by 
striking 
‘‘paragraph 
(1)(B)(i)’’ and inserting ‘‘the last sen-
tence of paragraph (1)’’, and 
(II) by striking ‘‘established’’ and 
inserting ‘‘establish’’, 
(iv) in paragraph (8)(C)(iii)— 
(I) by striking ‘‘the Secretary’’ in 
subclause (I) and inserting ‘‘the Sec-
retary of the Treasury, in consultation 
with the Secretary’’, and 
(II) by striking ‘‘Secretary’’ in 
the last sentence and inserting ‘‘Sec-
retary of the Treasury’’, and 
(v) by striking ‘‘an employer’s with-
drawal liability’’ in paragraph (9)(B) and 
inserting ‘‘the allocation of unfunded vest-
ed benefits to an employer’’. 
(F) Section 305(f)(2)(A)(i) of ERISA is 
amended by adding at the end the following: 
‘‘to a participant or beneficiary whose annuity 
starting date (as defined in section 205(h)(2)) 
occurs after the date such notice is sent,’’. 
(G) Section 305(g) of ERISA is amended 
by inserting ‘‘under subsection (c)’’ after ‘‘fund-
ing improvement plan’’ the first place it ap-
pears. 
(H) Section 502(c)(2) of ERISA is amend-
ed by striking ‘‘101(b)(4)’’ and inserting 
‘‘101(b)(1)’’. 
(I) Section 502(c)(8)(A) of ERISA is 
amended by inserting ‘‘plan’’ after ‘‘multiem-
ployer’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 432(b)(3)(C) of the 1986 Code 
is amended by striking ‘‘section 101(b)(4)’’ and 
inserting ‘‘section 101(b)(1)’’. 
(B) Section 432(b)(3)(D)(iii) of the 1986 
Code is amended by striking ‘‘The Secretary of 
Labor’’ and inserting ‘‘The Secretary, in con-
sultation with the Secretary of Labor’’. 
(C) Section 432(c) of the 1986 Code is 
amended— 
(i) in paragraph (3), by striking ‘‘sec-
tion 304(d)’’ in subparagraph (A)(ii) and 
inserting ‘‘section 431(d)’’, and 
(ii) in paragraph (7)— 
(I) by striking ‘‘to agree on’’ and 
all that follows in subparagraph 
(A)(ii) and inserting ‘‘to adopt a con-
tribution schedule with terms con-
sistent with the funding improvement 
plan and a schedule from the plan 
sponsor,’’, and 
(II) by striking subparagraph (B) 
and inserting the following new sub-
paragraph: 
‘‘(B) DATE
OF
IMPLEMENTATION.—The 
date specified in this subparagraph is the date 
which is 180 days after the date on which the 
collective bargaining agreement described in 
subparagraph (A) expires.’’. 
(D) Section 432(e) of the 1986 Code is 
amended— 
(i) in paragraph (3)(C)— 
(I) by striking all that follows ‘‘to 
adopt a’’ in clause (i)(II) and insert-
ing ‘‘to adopt a contribution schedule 
with terms consistent with the reha-
bilitation plan and a schedule from 
the plan sponsor under paragraph 
(1)(B)(i),’’, and 
(II) by striking clause (ii) and in-
serting the following new clause:
‘‘(ii) DATE
OF
IMPLEMENTATION.— 
The date specified in this clause is the date 
which is 180 days after the date on which 
the collective bargaining agreement de-
scribed in clause (i) expires.’’, 
(ii) in paragraph (4)— 
(I) by striking ‘‘the date of’’ in 
subparagraph (A)(ii), and 
(II) by striking ‘‘and taking’’ in 
subparagraph (B) and inserting ‘‘but 
taking’’, 
(iii) in paragraph (6)— 
(I) 
by 
striking 
‘‘paragraph 
(1)(B)(i)’’ and inserting ‘‘the last sen-
tence of paragraph (1)’’, and 
(II) by striking ‘‘established’’ and 
inserting ‘‘establish’’, 
(iv) in paragraph (8)— 
(I) by striking ‘‘section 204(g)’’ 
in subparagraph (A)(i) and inserting 
‘‘section 411(d)(6)’’, 
(II) by inserting ‘‘of the Em-
ployee Retirement Income Security 
Act of 1974’’ after ‘‘4212(a)’’ in sub-
paragraph (C)(i)(II),
(III) by striking ‘‘the Secretary 
of Labor’’ in subparagraph (C)(iii)(I) 
and inserting ‘‘the Secretary, in con-
sultation 
with 
the 
Secretary 
of 
Labor’’, and 
(IV) by striking ‘‘the Secretary of 
Labor’’ in the last sentence of sub-
paragraph (C)(iii) and inserting ‘‘the 
Secretary’’, and 
(v) by striking ‘‘an employer’s with-
drawal liability’’ in paragraph (9)(B) and 
inserting ‘‘the allocation of unfunded vest-
ed benefits to an employer’’. 
(E) Section 432(f)(2)(A)(i) of the 1986 
Code is amended— 
(i) by striking ‘‘section 411(b)(1)(A)’’ 
and inserting ‘‘section 411(a)(9)’’; and 
(ii) by inserting at the end the fol-
lowing: ‘‘to a participant or beneficiary 
whose annuity starting date (as defined in 
section 417(f)(2)) occurs after the date 
such notice is sent,’’. 
(F) Section 432(g) of the 1986 Code is 
amended by inserting ‘‘under subsection (c)’’
after ‘‘funding improvement plan’’ the first 
place it appears. 
(G) Section 432(i) of the 1986 Code is 
amended— 
(i) by striking ‘‘section 412(a)’’ in 
paragraph (3) and inserting ‘‘section 
431(a)’’, and 
(ii) by striking paragraph (9) and in-
serting the following new paragraph: 
‘‘(9) PLAN SPONSOR.—For purposes of this sec-
tion, section 431, and section 4971(g): 
‘‘(A) IN GENERAL.—The term ‘plan spon-
sor’ means, with respect to any multiemployer 
plan, the association, committee, joint board of 
trustees, or other similar group of representa-
tives of the parties who establish or maintain 
the plan. 
‘‘(B) SPECIAL RULE FOR SECTION 404(c) 
PLANS.—In the case of a plan described in sec-
tion 404(c) (or a continuation of such plan), 
such term means the bargaining parties de-
scribed in paragraph (1).’’. 
(H) Section 412(b)(3) of the 1986 Code is 
amended by striking ‘‘the plan adopts’’ and in-
serting ‘‘the plan sponsor adopts’’.
(I) Section 4971(g)(4) of the 1986 Code is 
amended— 
(i) in subparagraph (B)(ii), by strik-
ing ‘‘first day of’’ and inserting ‘‘day fol-
lowing the close of’’, and 
(ii) by striking clause (ii) of subpara-
graph (C) and inserting the following new 
clause: 
‘‘(ii) PLAN SPONSOR.—For purposes 
of clause (i), the term ‘plan sponsor’ has 
the meaning given such term by section 
432(i)(9).’’. 
(3) AMENDMENTS TO 2006 ACT.— 
(A) Section 212(b)(2) of the 2006 Act is 
amended by striking ‘‘Section 4971(c)(2) of 
such Code’’ and inserting ‘‘Section 4971(e)(2) 
of such Code’’. 
(B) Section 212(e)(1) of the 2006 Act is 
amended by inserting ‘‘, except that the amend-
ments made by subsection (b) shall apply to 
taxable years beginning after 2007, but only 
with respect to plan years beginning after 2007 
which end with or within any such taxable 
year’’ before the period at the end.
(C) Section 212(e)(2) of the 2006 Act is 
amended by striking ‘‘section 305(b)(3) of the 
Employee Retirement Income Security Act of 
1974’’ and inserting ‘‘section 432(b)(3) of the 
Internal Revenue Code of 1986’’. 
SEC. 103. AMENDMENTS RELATED TO TITLE III. 
(a) AMENDMENT RELATED
TO SECTION 301.— 
Clause (ii) of section 101(c)(2)(A) of the Pension Funding 
Equity Act of 2004, as amended by section 301(c) of the 
2006 Act, is amended by striking ‘‘2008’’ and inserting 
‘‘2009’’. 
(b) AMENDMENTS RELATED TO SECTION 302.— 
(1) 
AMENDMENT
TO
ERISA.—Section 
205(g)(3)(B)(iii)(II) of ERISA is amended by strik-
ing ‘‘section 205(g)(3)(B)(iii)(II)’’ and inserting 
‘‘section 205(g)(3)(A)(ii)(II)’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 417(e)(3)(D)(i) of the 1986 
Code is amended by striking ‘‘clause (ii)’’ and 
inserting ‘‘subparagraph (C)’’. 
(B)(i) Section 415(b)(2)(E)(v) of the 1986 
Code is amended to read as follows: 
‘‘(v) For purposes of adjusting any 
benefit or limitation under subparagraph 
(B), (C), or (D), the mortality table used
shall be the applicable mortality table 
(within 
the 
meaning 
of 
section 
417(e)(3)(B)).’’. 
(ii)(I) Except as provided in subclause (II), 
the amendment made by clause (i) shall apply 
to years beginning after December 31, 2008. 
(II) A plan sponsor may elect to have the 
amendment made by clause (i) apply to any 
year beginning after December 31, 2007, and 
before January 1, 2009, or to any portion of 
any such year. 
SEC. 104. AMENDMENTS RELATED TO TITLE IV. 
(a) AMENDMENT RELATED TO SECTION 401.—Sec-
tion 4006(a)(3)(A)(i) of ERISA is amended by striking 
‘‘1990’’ and inserting ‘‘2005’’. 
(b) AMENDMENT RELATED TO SECTION 402.—Sec-
tion 402(c)(1)(A) of the 2006 Act is amended by striking 
‘‘commercial airline’’ and inserting ‘‘commercial’’. 
(c) AMENDMENT RELATED TO SECTION 408.—Sec-
tion 4044(e) of ERISA, as added by section 408(b)(2) of 
the 2006 Act, is redesignated as subsection (f). 
(d) AMENDMENTS RELATED TO SECTION 409.—Sec-
tion 4041(b)(5)(A) of ERISA is amended by striking 
‘‘subparagraph (B)’’ and inserting ‘‘subparagraphs (B) 
and (D)’’.
(e) AMENDMENTS RELATED TO SECTION 410.—Sec-
tion 4050(d)(4)(A) of ERISA is amended— 
(1) by striking ‘‘and’’ at the end of clause (i), 
and 
(2) by striking clause (ii) and inserting the fol-
lowing new clauses: 
‘‘(ii) which is not a plan described in 
paragraph (2), (3), (4), (6), (7), (8), (9), 
(10), or (11) of section 4021(b), and 
‘‘(iii) which, was a plan described in 
section 401(a) of the Internal Revenue 
Code of 1986 which includes a trust ex-
empt from tax under section 501(a) of 
such Code, and’’. 
SEC. 105. AMENDMENTS RELATED TO TITLE V. 
(a) AMENDMENT RELATED TO SECTION 501.—Sec-
tion 101(f)(2)(B)(ii) of ERISA is amended— 
(1) by striking ‘‘for which the latest annual re-
port filed under section 104(a) was filed’’ in sub-
clause (I)(aa) and inserting ‘‘to which the notice re-
lates’’, and 
(2) by striking subclause (II) and inserting the 
following new subclause: 
‘‘(II) in the case of a multiem-
ployer plan, a statement, for the plan
year to which the notice relates and 
the preceding 2 plan years, of the 
value of the plan assets (determined 
both in the same manner as under 
section 304 and under the rules of 
subclause (I)(bb)) and the value of the 
plan liabilities (determined in the 
same manner as under section 304 ex-
cept that the method specified in sec-
tion 305(i)(8) shall be used),’’. 
(b) AMENDMENTS RELATED TO SECTION 502.— 
(1) Section 101(k)(2) of ERISA is amended by 
filing at the end the following new flush sentence: 
‘‘Subparagraph (C)(i) shall not apply to individually 
identifiable information with respect to any plan in-
vestment manager or adviser, or with respect to any 
other person (other than an employee of the plan) 
preparing a financial report required to be included 
under paragraph (1)(B).’’. 
(2) Section 4221 of ERISA is amended by 
striking subsection (e) and by redesignating sub-
sections (f) and (g) as subsections (e) and (f), re-
spectively. 
(c) AMENDMENTS RELATED TO SECTION 503.— 
(1) AMENDMENTS TO ERISA.—
(A) Section 104(b)(3) of ERISA is amend-
ed by— 
(i) striking ‘‘section 103(f)’’ and in-
serting ‘‘section 101(f)’’, and 
(ii) striking ‘‘the administrators’’ and 
inserting ‘‘the administrator’’. 
(B) Section 104(d)(1)(E)(ii) of ERISA is 
amended by inserting ‘‘funding’’ after ‘‘plan’s’’. 
(2) 
AMENDMENTS
TO
2006
ACT.—Section 
503(e) of the 2006 Act is amended by striking ‘‘sec-
tion 101(f)’’ and inserting ‘‘section 104(d)’’. 
(d) AMENDMENT RELATED TO SECTION 505.—Sec-
tion 4010(d)(2)(B) of ERISA is amended by striking ‘‘sec-
tion 302(d)(2)’’ and inserting ‘‘section 303(d)(2)’’. 
(e) AMENDMENTS RELATED TO SECTION 506.— 
(1) Section 4041(c)(2)(D)(i) of ERISA is 
amended by striking ‘‘subsection (a)(2)’’ the second 
place it appears and inserting ‘‘subparagraph (A) or 
the regulations under subsection (a)(2)’’. 
(2) Section 4042(c)(3)(C)(i) of ERISA is 
amended— 
(A) by striking ‘‘and plan sponsor’’ and in-
serting ‘‘, the plan sponsor, or the corporation’’, 
and
(B) by striking ‘‘subparagraph (A)(i)’’ and 
inserting ‘‘subparagraph (A)’’. 
(f) AMENDMENTS RELATED TO SECTION 508.—Sec-
tion 209(a) of ERISA is amended— 
(1) in paragraph (1)— 
(A) by striking ‘‘regulations prescribed by 
the Secretary’’ and inserting ‘‘such regulations 
as the Secretary may prescribe’’, and 
(B) by striking the last sentence and in-
serting ‘‘The report required under this para-
graph shall be in the same form, and contain 
the same information, as periodic benefit state-
ments under section 105(a).’’, and 
(2) by striking paragraph (2) and inserting the 
following: 
‘‘(2) If more than one employer adopts a plan, 
each such employer shall furnish to the plan admin-
istrator the information necessary for the adminis-
trator to maintain the records, and make the re-
ports, required by paragraph (1). Such adminis-
trator shall maintain the records, and make the re-
ports, required by paragraph (1).’’. 
(g) AMENDMENT RELATED TO SECTION 509.—Sec-
tion 101(i)(8)(B) of ERISA is amended to read as follows:
‘‘(B) 
ONE-PARTICIPANT
RETIREMENT 
PLAN.—For purposes of subparagraph (A), the 
term ‘one-participant retirement plan’ means a 
retirement plan that on the first day of the plan 
year— 
‘‘(i) covered only one individual (or 
the individual and the individual’s spouse) 
and the individual (or the individual and 
the individual’s spouse) owned 100 percent 
of the plan sponsor (whether or not incor-
porated), or 
‘‘(ii) covered only one or more part-
ners (or partners and their spouses) in the 
plan sponsor.’’. 
SEC. 106. AMENDMENTS RELATED TO TITLE VI. 
(a) AMENDMENTS RELATED TO SECTION 601.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 408(g)(3)(D)(ii) of ERISA is 
amended by striking ‘‘subsection (b)(14)(B)(ii)’’ 
and inserting ‘‘subsection (b)(14)(A)(ii)’’. 
(B) Section 408(g)(6)(A)(i) of ERISA is 
amended by striking ‘‘financial adviser’’ and in-
serting ‘‘fiduciary adviser’’. 
(C) Section 408(g)(11)(A) of ERISA is 
amended—
(i) by striking ‘‘the participant’’ each 
place it appears and inserting ‘‘a partici-
pant’’, and 
(ii) by striking ‘‘section 408(b)(4)’’ in 
clause 
(ii) 
and 
inserting 
‘‘subsection 
(b)(4)’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 4975(d)(17) of the 1986 Code, 
in the matter preceding subparagraph (A), is 
amended by striking ‘‘and that permits’’ and in-
serting ‘‘that permits’’. 
(B) Section 4975(f)(8) of the 1986 Code is 
amended— 
(i) in subparagraph (A), by striking 
‘‘subsection (b)(14)’’ and inserting ‘‘sub-
section (d)(17)’’, 
(ii) in subparagraph (C)(iv)(II), by 
striking ‘‘subsection (b)(14)(B)(ii)’’ and in-
serting ‘‘(d)(17)(A)(ii)’’, 
(iii) in subparagraph (F)(i)(I), by 
striking ‘‘financial adviser’’ and inserting 
‘‘fiduciary adviser,’’, 
(iv) in subparagraph (I), by striking 
‘‘section 406’’ and inserting ‘‘subsection 
(c)’’, and