(5) 
COST-OF-LIVING
ADJUSTMENTS.—Sub-
section (d) of section 415 (related to cost-of-living
adjustments) is amended—
(A) in paragraph (1)(A) by striking
‘‘$90,000’’ and inserting ‘‘$180,000’’, and
(B) in paragraph (3)(A)—
(i) by striking ‘‘$90,000’’ in the head-
ing and inserting ‘‘$180,000’’, and
(ii) by striking ‘‘October 1, 1986’’ and
inserting ‘‘July 1, 1999’’.
(b) DEFINED
CONTRIBUTION
PLANS.—Subpara-
graph (B) of section 415(c)(1) (relating to limitation for
defined contribution plans) is amended to read as follows:
‘‘(B) the participant’s compensation.’’.
(c) COST-OF-LIVING ADJUSTMENTS.—
(1) PLANS MAINTAINED BY GOVERNMENTS AND
TAX-EXEMPT
ORGANIZATIONS.—Paragraph (1) of
section 415(d) is amended by striking ‘‘and’’ at the
end of subparagraph (B), by redesignating subpara-
graph (C) as subparagraph (D), and by inserting
after subparagraph (B) the following new subpara-
graph:
‘‘(C) the $130,000 amount in subsection
(b)(2)(F), and’’.
(2) BASE PERIOD.—Paragraph (3) of section
415(d) is amended by redesignating subparagraph
(D) as subparagraph (E) and by inserting after sub-
paragraph (C) the following new subparagraph:
‘‘(D) $130,000 AMOUNT.—The base period
taken into account for purposes of paragraph
(1)(C) is the calendar quarter beginning July 1,
1999.’’.
(3) ROUNDING RULE RELATING TO DEFINED
BENEFIT PLANS.—Paragraph (4) of section 415(d)
is amended to read as follows:
‘‘(4) ROUNDING.—
‘‘(A) IN
GENERAL.—Any increase under
subparagraphs (A) and (D) of paragraph (1)
which is not a multiple of $5,000 shall be
rounded to the next lowest multiple of $5,000.
‘‘(B) $130,000 AMOUNT.—Any increase
under subparagraph (C) of paragraph (1) which
is not a multiple of $1,000 shall be rounded to
the next lowest multiple of $1,000.’’.
(4) CONFORMING AMENDMENT.—Subparagraph
(E) of section 415(d)(3) (as redesignated by para-
graph (2)) is amended by striking ‘‘paragraph
(1)(C)’’ and inserting ‘‘paragraph (1)(D)’’.
SEC. 3. TREATMENT OF MULTIEMPLOYER PLANS UNDER
SECTION 415.
(a) COMPENSATION LIMIT.—Paragraph (11) of sec-
tion 415(b) (relating to limitation for defined benefit
plans) is amended to read as follows:
‘‘(11) SPECIAL LIMITATION RULE FOR GOVERN-
MENTAL AND MULTIEMPLOYER PLANS.—In the case
of a governmental plan (as defined in section
414(d)) or a multiemployer plan (as defined in sec-
tion 414(f)), subparagraph (B) of paragraph (1)
shall not apply.’’.
(b) COMBINING AND AGGREGATION OF PLANS.—
(1) COMBINING OF PLANS.—Subsection (f) of
section 415 (relating to combining of plans) is
amended by adding at the end the following:
‘‘(3) 
EXCEPTION
FOR
MULTIEMPLOYER
PLANS.—Notwithstanding paragraph (1) and sub-
section (g), a multiemployer plan (as defined in sec-
tion 414(f)) shall not be combined or aggregated
with any other plan maintained by an employer for
purposes of applying the limitations established in
this section.’’.
(2) CONFORMING AMENDMENT FOR AGGREGA-
TION OF PLANS.—Subsection (g) of section 415 (re-
lating to aggregation of plans) is amended by strik-
ing ‘‘The Secretary’’ and inserting ‘‘Except as pro-
vided in subsection (f)(3), the Secretary’’.
SEC. 4. EFFECTIVE DATE.
The amendments made by this Act shall apply to
years beginning after December 31, 1999.
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