SECTION 1. SHORT TITLE; REFERENCES TO ACTS. 
(a) IN GENERAL.—This Act may be cited as the 
‘‘Pension Protection Technical Corrections Act of 2008’’. 
(b) REFERENCES TO ACTS.—For purposes of this 
Act: 
(1) AMENDMENT
OF
1986
CODE.—The term 
‘‘1986 Code’’ means the Internal Revenue Code of 
1986. 
(2) 
AMENDMENT
OF
ERISA.—The 
term 
‘‘ERISA’’ means the Employee Retirement Income 
Security Act of 1974. 
(3) 2006 ACT.—The term ‘‘2006 Act’’ means 
the Pension Protection Act of 2006. 
TITLE I—TECHNICAL CORREC-
TIONS RELATED TO THE PEN-
SION PROTECTION ACT OF 
2006 
SEC. 101. AMENDMENTS RELATED TO TITLE I. 
(a) AMENDMENTS RELATED TO SECTIONS 101 AND 
111.— 
(1) AMENDMENTS TO ERISA.— 
(A) Clause (i) of section 302(c)(1)(A) of 
ERISA is amended by striking ‘‘the plan is’’ 
and inserting ‘‘the plan are’’. 
(B) Section 302(c)(7) of ERISA is amend-
ed by inserting ‘‘which reduces the accrued ben-
efit of any participant’’ after ‘‘subsection 
(d)(2)’’ in subparagraph (A). 
(C) Section 302(d)(1) of ERISA is amend-
ed by striking ‘‘, the valuation date,’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Clause (i) of section 412(c)(1)(A) of 
the 1986 Code is amended by striking ‘‘the plan 
is’’ and inserting ‘‘the plan are’’. 
(B) Section 412(c)(7) of the 1986 Code is 
amended by inserting ‘‘which reduces the ac-
crued benefit of any participant’’ after ‘‘sub-
section (d)(2)’’ in subparagraph (A). 
(C) Section 412(d)(1) of the 1986 Code is 
amended by striking ‘‘, the valuation date,’’. 
(b) AMENDMENTS RELATED TO SECTIONS 102 AND 
112.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 303(b) of ERISA 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 303(c)(5)(B)(iii) of ERISA is 
amended by inserting ‘‘beginning’’ before ‘‘after 
2008’’. 
(C) Section 303(c)(5)(B)(iv)(II) of ERISA 
is amended by inserting ‘‘for such year’’ after 
‘‘beginning in 2007)’’.
(D) Section 303(f)(4)(A) of ERISA is 
amended by striking ‘‘paragraph (2)’’ and in-
serting ‘‘paragraph (3)’’. 
(E) Section 303(h)(2)(F) of ERISA is 
amended— 
(i) 
by 
striking 
‘‘section 
205(g)(3)(B)(iii)(I)) for such month’’ and 
inserting ‘‘section 205(g)(3)(B)(iii)(I) for 
such month)’’, and 
(ii) by striking ‘‘subparagraph (B)’’ 
and inserting ‘‘subparagraph (C)’’. 
(F) Section 303(i) of ERISA 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