remains in funding restoration status for the plan 
year. 
‘‘(4) ANNUAL CERTIFICATION BY PLAN ACTU-
ARY.—Not later than the 90th day of each plan year 
of a CSEC plan, the plan actuary shall certify to the 
plan sponsor whether or not the plan is in funding 
restoration status for the plan year, based on the 
plan’s funded percentage as of the beginning of the 
plan year. For this purpose, the actuary may conclu-
sively rely on an estimate of— 
‘‘(A) the plan’s funding liability, based on 
the funding liability of the plan for the pre-
ceding plan year and on reasonable actuarial es-
timates, assumptions, and methods, and 
‘‘(B) the amount of any contributions rea-
sonably anticipated to be made for the pre-
ceding plan year. 
Contributions described in subparagraph (B) shall 
be taken into account in determining the plan’s 
funded percentage as of the beginning of the plan 
year. 
‘‘(5) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) FUNDING RESTORATION STATUS.—A 
CSEC plan shall be treated as in funding res-
toration status for a plan year if the plan’s 
funded percentage as of the beginning of such 
plan year is less than 80 percent. 
‘‘(B) FUNDED
PERCENTAGE.—The term 
‘funded percentage’ means the ratio (expressed 
as a percentage) which— 
‘‘(i) the value of plan assets (as deter-
mined under subsection (c)(2)), bears to 
‘‘(ii) the plan’s funding liability. 
‘‘(C) 
FUNDING
LIABILITY.—The 
term 
‘funding liability’ for a plan year means the 
present value of all benefits accrued or earned 
under the plan as of the beginning of the plan 
year, based on the assumptions used by the 
plan pursuant to this section, including the in-
terest rate described in subsection (b)(5)(A) 
(without regard to subsection (b)(5)(B)). 
‘‘(D) SPREAD GAIN FUNDING METHOD.— 
The term ‘spread gain funding method’ has the 
meaning given such term under rules and forms 
issued by the Secretary of the Treasury.’’. 
(b) SEPARATE RULES FOR CSEC PLANS.— 
(1) IN
GENERAL.—Paragraph (2) of section 
302(a) of the Employee Retirement Income Security 
Act of 1974 (29 U.S.C. 1082(a)) is amended by
striking ‘‘and’’ at the end of subparagraph (B), by 
striking the period at the end of subparagraph (C) 
and inserting ‘‘, and’’, and by inserting at the end 
thereof the following new subparagraph: 
‘‘(D) in the case of a CSEC plan, the em-
ployers make contributions to or under the plan 
for any plan year which, in the aggregate, are 
sufficient to ensure that the plan does not have 
an accumulated funding deficiency under sec-
tion 306 as of the end of the plan year.’’. 
(2) CONFORMING AMENDMENTS.—Section 302 
of the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1082) is amended— 
(A) by striking ‘‘multiemployer plan’’ the 
first place it appears in clause (i) of subsection 
(c)(1)(A) and the last place it appears in para-
graph (2) of subsection (d), and inserting ‘‘mul-
tiemployer plan or a CSEC plan’’, 
(B) by striking ‘‘303(j)’’ in paragraph (1) 
of subsection (b) and inserting ‘‘303(j) or under 
section 306(f)’’, 
(C)(i) by striking ‘‘and’’ at the end of 
clause (i) of subsection (c)(1)(B),
(ii) by striking the period at the end of 
clause (ii) of subsection (c)(1)(B), and inserting 
‘‘, and’’, and 
(iii) by inserting the following new clause 
after clause (ii) of subsection (c)(1)(B): 
‘‘(iii) in the case of a CSEC plan, the 
funding standard account shall be credited 
under 
section 
306(b)(3)(C) 
with 
the 
amount of the waived funding deficiency 
and such amount shall be amortized as re-
quired under section 306(b)(2)(C).’’, 
(D) by striking ‘‘under paragraph (1)’’ in 
clause (i) of subsection (c)(4)(A) and inserting 
‘‘under paragraph (1) or for granting an exten-
sion under section 306(d)’’, 
(E) by striking ‘‘waiver under this sub-
section’’ in subparagraph (B) of subsection 
(c)(4) and inserting ‘‘waiver under this sub-
section or an extension under 306(d)’’, 
(F) by striking ‘‘waiver or modification’’ in 
subclause (I) of subsection (c)(4)(B)(i) and in-
serting ‘‘waiver, modification, or extension’’, 
(G) by striking ‘‘waivers’’ in the heading of 
subsection (c)(4)(C) and of clause (ii) of sub-