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(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— 
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‘‘(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)’’. 
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(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’’. 
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(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’’. 
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(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. 
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(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). 
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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-
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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— 
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(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— 
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(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 
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1974’’ and inserting ‘‘section 432(b)(3) of the 
Internal Revenue Code of 1986’’. 
SEC. 4. 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)).’’. 
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(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. 5. 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— 
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(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. 6. 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 
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(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 
(v) in subparagraph (J)(i)— 
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(I) by striking ‘‘the participant’’ 
each place it appears and inserting ‘‘a 
participant’’, 
(II) in the matter preceding sub-
clause (I), by inserting ‘‘referred to in 
subsection (e)(3)(B)’’ after ‘‘invest-
ment advice’’, and 
(III) in subclause (II), by strik-
ing ‘‘section 408(b)(4)’’ and inserting 
‘‘subsection (d)(4)’’. 
(3) 
AMENDMENT
TO
2006
ACT.—Section 
601(b)(4) of the 2006 Act is amended by striking 
‘‘section 4975(c)(3)(B)’’ and inserting ‘‘section 
4975(e)(3)(B)’’. 
(b) AMENDMENTS RELATED TO SECTION 611.— 
(1) 
AMENDMENT
TO
ERISA.—Section 
408(b)(18)(C) of ERISA is amended by striking ‘‘or 
less’’. 
(2) AMENDMENTS
TO
1986
CODE.—Section 
4975(d) of the 1986 Code is amended— 
(A) in the matter preceding subparagraph 
(A) of paragraph (18)— 
(i) by striking ‘‘party in interest’’ and 
inserting ‘‘disqualified person’’, and 
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(ii) by striking ‘‘subsection (e)(3)(B)’’ 
and inserting ‘‘subsection (e)(3)’’, 
(B) in paragraphs (19), (20), and (21), by 
striking ‘‘party in interest’’ each place it ap-
pears and inserting ‘‘disqualified person’’, and 
(C) by striking ‘‘or less’’ in paragraph 
(21)(C). 
(c) AMENDMENTS RELATED TO SECTION 612.—Sec-
tion 4975(f)(11)(B)(i) of the 1986 Code is amended by— 
(1) inserting ‘‘of the Employee Retirement In-
come 
Security 
Act 
of 
1974’’ 
after 
‘‘section 
407(d)(1)’’, and 
(2) inserting ‘‘of such Act’’ after ‘‘section 
407(d)(2)’’. 
(d) AMENDMENTS RELATED TO SECTION 624.—Sec-
tion 404(c)(5) of ERISA is amended by striking ‘‘partici-
pant’’ each place it appears and inserting ‘‘participant or 
beneficiary’’. 
SEC. 8. AMENDMENTS RELATED TO TITLE VII. 
(a) AMENDMENTS TO ERISA.— 
(1) Section 203(f)(1)(B) of ERISA is amended 
to read as follows: 
‘‘(B) the requirements of section 204(c) or 
205(g), or the requirements of subsection (e), 
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with respect to accrued benefits derived from 
employer contributions,’’. 
(2) Section 204(b)(5) of ERISA is amended— 
(A) by striking ‘‘clause’’ in subparagraph 
(A)(iii) and inserting ‘‘subparagraph’’, and 
(B) by inserting ‘‘otherwise’’ before ‘‘allow-
able’’ in subparagraph (C). 
(3) Subclause (II) of section 204(b)(5)(B)(i) of 
ERISA is amended to read as follows: 
‘‘(II) PRESERVATION
OF
CAP-
ITAL.—An applicable defined benefit 
plan shall be treated as failing to 
meet the requirements of paragraph 
(1)(H) unless the plan provides that 
an interest credit (or equivalent 
amount) of less than zero shall in no 
event result in the account balance or 
similar amount being less than the ag-
gregate amount of contributions cred-
ited to the account.’’. 
(b) AMENDMENTS TO 1986 CODE.— 
(1) Section 411(b)(5) of the 1986 Code is 
amended— 
(A) by striking ‘‘clause’’ in subparagraph 
(A)(iii) and inserting ‘‘subparagraph’’, and 
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(B) by inserting ‘‘otherwise’’ before ‘‘allow-
able’’ in subparagraph (C). 
(2) Section 411(a)(13)(A) of the 1986 Code is 
amended— 
(A) by striking ‘‘paragraph (2)’’ in clause 
(i) and inserting ‘‘subparagraph (B)’’, 
(B) by striking clause (ii) and inserting the 
following new clause: 
‘‘(ii) the requirements of subsection 
(a)(11) or (c), or the requirements of sec-
tion 417(e), with respect to accrued bene-
fits derived from employer contributions,’’, 
and 
(C) by striking ‘‘paragraph (3)’’ in the 
matter following clause (ii) and inserting ‘‘sub-
paragraph (C)’’. 
(3) Subclause (II) of section 411(b)(5)(B)(i) of 
the 1986 Code is amended to read as follows: 
‘‘(II) PRESERVATION
OF
CAP-
ITAL.—An applicable defined benefit 
plan shall be treated as failing to 
meet the requirements of paragraph 
(1)(H) unless the plan provides that 
an interest credit (or equivalent 
amount) of less than zero shall in no 
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event result in the account balance or 
similar amount being less than the ag-
gregate amount of contributions cred-
ited to the account.’’. 
(c) AMENDMENTS TO 2006 ACT.— 
(1) Section 701(d)(2) of the 2006 Act is 
amended 
by 
striking 
‘‘204(g)’’ 
and 
inserting 
‘‘205(g)’’. 
(2) Section 701(e) of the 2006 Act is amend-
ed— 
(A) by inserting ‘‘on or’’ after ‘‘period’’ in 
paragraph (3), 
(B) in paragraph (4)— 
(i) by inserting ‘‘the earlier of’’ after 
‘‘before’’ in the matter preceding subpara-
graph (A), and 
(ii) by striking ‘‘earlier’’ and inserting 
‘‘later’’ in subparagraph (A), 
(C) by inserting ‘‘on or’’ before ‘‘after’’ 
each place it appears in paragraph (5), and 
(D) by adding at the end the following new 
paragraph: 
‘‘(6) SPECIAL
RULE
FOR
VESTING
REQUIRE-
MENTS.—The requirements of section 203(f)(2) of 
the Employee Retirement Income Security Act of 
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1974 and section 411(a)(13)(B) of the Internal Rev-
enue Code of 1986 (as added by this Act)— 
‘‘(A) shall not apply to a participant who 
does not have an hour of service after the effec-
tive date of such requirements (as otherwise de-
termined under this subsection); and 
‘‘(B) in the case of a plan other than a 
plan described in paragraph (3) or (4), shall 
apply to plan years ending on or after June 29, 
2005.’’. 
SEC. 9. AMENDMENTS RELATED TO TITLE VIII. 
(a) AMENDMENTS RELATED TO SECTION 801.— 
(1) Section 404(o) of the 1986 Code is amend-
ed— 
(A) by striking ‘‘430(g)(2)’’ in paragraph 
(2)(A)(ii) and inserting ‘‘430(g)(3)’’, and 
(B) by striking ‘‘412(f)(4)’’ in paragraph 
(4)(B) and inserting ‘‘412(d)(3)’’. 
(2) Section 404(a)(7)(A) of the 1986 Code is 
amended— 
(A) by striking the next to last sentence, 
and 
(B) by striking ‘‘the plan’s funding short-
fall determined under section 430’’ in the last 
sentence and inserting ‘‘the excess (if any) of 
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tired pay, annuity, or other similar payments 
which are not includible in the gross income of 
the individual for the taxable year in which it 
was paid because it was part of a rollover dis-
tribution;’’, and 
(2) by striking the last sentence. 
(c) AMENDMENTS RELATED TO SECTION 1106.— 
Section 3(37)(G) of ERISA is amended by— 
(1) striking ‘‘paragraph’’ each place it appears 
in clauses (ii), (iii), and (v)(I) and inserting ‘‘sub-
paragraph’’, 
(2) striking ‘‘subclause (i)(II)’’ in clause (iii) 
and inserting ‘‘clause (i)(II)’’, 
(3) striking ‘‘subparagraph’’ in clause (v)(II) 
and inserting ‘‘clause’’, and 
(4) by striking ‘‘section 101(b)(4)’’ in clause 
(v)(III) and inserting ‘‘section 101(b)(1)’’. 
SEC. 13. EFFECTIVE DATE. 
Except as otherwise provided in this Act, the amend-
ments made by this Act shall take effect as if included 
in the provisions of the 2006 Act to which the amend-
ments relate. 
Passed the House of Representatives March 13, 
2008. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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Calendar No. 621 
110TH CONGRESS 
2D SESSION 
H. R. 3361 
AN ACT 
To make technical corrections related to the 
Pension Protection Act of 2006. 
MARCH 31 (legislative day, MARCH 13), 2008 
Received; read twice and placed on the calendar 
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