576 
‘‘(C) DETERMINATION OF SHORTFALL AM-
ORTIZATION INSTALLMENTS.— 
‘‘(i) 
30-YEAR
PERIOD.—Subpara-
graphs (A) and (B) of subsection (c)(2) 
shall be applied by substituting ‘30-plan- 
year’ for ‘7-plan-year’ each place it ap-
pears. 
‘‘(ii) NO
SPECIAL
ELECTION.—The 
election under subparagraph (D) of sub-
section (c)(2) shall not apply to any plan 
year to which the election under paragraph 
(1) applies. 
‘‘(D) EXEMPTION FROM AT-RISK TREAT-
MENT.—Subsection (i) shall not apply. 
‘‘(5) COMMUNITY NEWSPAPER PLAN.—For pur-
poses of this subsection— 
‘‘(A) IN GENERAL.—The term ‘community 
newspaper plan’ means any plan to which this 
section applies maintained as of December 31, 
2018, by an employer which— 
‘‘(i) maintains the plan on behalf of 
participants and beneficiaries with respect 
to employment in the trade or business of 
publishing 1 or more newspapers which 
were published by the employer at any 
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pamtmann on DSKBC07HB2PROD with BILLS
577 
time during the 11-year period ending on 
the date of the enactment of this sub-
section, 
‘‘(ii)(I) is not a company the stock of 
which is publicly traded (on a stock ex-
change or in an over-the-counter market), 
and is not controlled, directly or indirectly, 
by such a company, or 
‘‘(II) is controlled, directly or indi-
rectly, during the entire 30-year period 
ending on the date of the enactment of this 
subsection by individuals who are members 
of the same family, and does not publish or 
distribute a daily newspaper that is car-
rier-distributed in printed form in more 
than 5 States, and 
‘‘(iii) is controlled, directly or indi-
rectly— 
‘‘(I) by 1 or more persons resid-
ing primarily in a State in which the 
community newspaper has been pub-
lished on newsprint or carrier-distrib-
uted, 
‘‘(II) during the entire 30-year 
period ending on the date of the en-
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pamtmann on DSKBC07HB2PROD with BILLS
578 
actment of this subsection by individ-
uals who are members of the same 
family, 
‘‘(III) by 1 or more trusts, the 
sole trustees of which are persons de-
scribed in subclause (I) or (II), or 
‘‘(IV) by a combination of per-
sons described in subclause (I), (II), 
or (III). 
‘‘(B) NEWSPAPER.—The term ‘newspaper’ 
does not include any newspaper (determined 
without regard to this subparagraph) to which 
any of the following apply: 
‘‘(i) Is not in general circulation. 
‘‘(ii) Is published (on newsprint or 
electronically) less frequently than 3 times 
per week. 
‘‘(iii) Has not ever been regularly 
published on newsprint. 
‘‘(iv) Does not have a bona fide list of 
paid subscribers. 
‘‘(C) CONTROL.—A person shall be treated 
as controlled by another person if such other 
person possesses, directly or indirectly, the 
power to direct or cause the direction and man-
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pamtmann on DSKBC07HB2PROD with BILLS
579 
agement of such person (including the power to 
elect a majority of the members of the board of 
directors of such person) through the ownership 
of voting securities. 
‘‘(6) CONTROLLED
GROUP.—For purposes of 
this subsection, the term ‘controlled group’ means all 
persons treated as a single employer under sub-
section (b), (c), (m), or (o) of section 414 as of the 
date of the enactment of this subsection.’’. 
(b) AMENDMENT TO EMPLOYEE RETIREMENT IN-
COME SECURITY ACT OF 1974.—Subsection (m) of section 
303 of the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1083(m)) is amended to read as follows: 
‘‘(m) SPECIAL RULES FOR COMMUNITY NEWSPAPER 
PLANS.— 
‘‘(1) IN GENERAL.—An eligible newspaper plan 
sponsor of a plan under which no participant has 
had the participant’s accrued benefit increased 
(whether because of service or compensation) after 
April 2, 2019, may elect to have the alternative 
standards described in paragraph (4) apply to such 
plan. 
‘‘(2) ELIGIBLE NEWSPAPER PLAN SPONSOR.— 
The term ‘eligible newspaper plan sponsor’ means 
the plan sponsor of— 
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pamtmann on DSKBC07HB2PROD with BILLS
580 
‘‘(A) any community newspaper plan, or 
‘‘(B) any other plan sponsored, as of April 
2, 2019, by a member of the same controlled 
group of a plan sponsor of a community news-
paper plan if such member is in the trade or 
business of publishing 1 or more newspapers. 
‘‘(3) ELECTION.—An election under paragraph 
(1) shall be made at such time and in such manner 
as prescribed by the Secretary of the Treasury. Such 
election, once made with respect to a plan year, shall 
apply to all subsequent plan years unless revoked 
with the consent of the Secretary of the Treasury. 
‘‘(4) ALTERNATIVE MINIMUM FUNDING STAND-
ARDS.—The alternative standards described in this 
paragraph are the following: 
‘‘(A) INTEREST RATES.— 
‘‘(i) IN
GENERAL.—Notwithstanding 
subsection (h)(2)(C) and except as pro-
vided in clause (ii), the first, second, and 
third segment rates in effect for any 
month for purposes of this section shall be 
8 percent. 
‘‘(ii) NEW BENEFIT ACCRUALS.—Not-
withstanding subsection (h)(2), for pur-
poses of determining the funding target 
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pamtmann on DSKBC07HB2PROD with BILLS
581 
and normal cost of a plan for any plan 
year, the present value of any benefits ac-
crued or earned under the plan for a plan 
year with respect to which an election 
under paragraph (1) is in effect shall be 
determined on the basis of the United 
States Treasury obligation yield curve for 
the day that is the valuation date of such 
plan for such plan year. 
‘‘(iii) UNITED STATES TREASURY OB-
LIGATION YIELD CURVE.—For purposes of 
this subsection, the term ‘United States 
Treasury obligation yield curve’ means, 
with respect to any day, a yield curve 
which shall be prescribed by the Secretary 
of the Treasury for such day on interest- 
bearing obligations of the United States. 
‘‘(B) SHORTFALL AMORTIZATION BASE.— 
‘‘(i) PREVIOUS SHORTFALL AMORTIZA-
TION
BASES.—The shortfall amortization 
bases determined under subsection (c)(3) 
for all plan years preceding the first plan 
year to which the election under paragraph 
(1) applies (and all shortfall amortization 
installments determined with respect to 
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pamtmann on DSKBC07HB2PROD with BILLS
583 
‘‘(5) COMMUNITY NEWSPAPER PLAN.—For pur-
poses of this subsection— 
‘‘(A) IN GENERAL.—The term ‘community 
newspaper plan’ means a plan to which this sec-
tion applies maintained as of December 31, 
2018, by an employer which— 
‘‘(i) maintains the plan on behalf of 
participants and beneficiaries with respect 
to employment in the trade or business of 
publishing 1 or more newspapers which 
were published by the employer at any 
time during the 11-year period ending on 
the date of the enactment of this sub-
section, 
‘‘(ii)(I) is not a company the stock of 
which is publicly traded (on a stock ex-
change or in an over-the-counter market), 
and is not controlled, directly or indirectly, 
by such a company, or 
‘‘(II) is controlled, directly, or indi-
rectly, during the entire 30-year period 
ending on the date of the enactment of this 
subsection by individuals who are members 
of the same family, and does not publish or 
distribute a daily newspaper that is car-
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pamtmann on DSKBC07HB2PROD with BILLS
584 
rier-distributed in printed form in more 
than 5 States, and 
‘‘(iii) is controlled, directly, or indi-
rectly— 
‘‘(I) by 1 or more persons resid-
ing primarily in a State in which the 
community newspaper has been pub-
lished on newsprint or carrier-distrib-
uted, 
‘‘(II) during the entire 30-year 
period ending on the date of the en-
actment of this subsection by individ-
uals who are members of the same 
family, 
‘‘(III) by 1 or more trusts, the 
sole trustees of which are persons de-
scribed in subclause (I) or (II), or 
‘‘(IV) by a combination of per-
sons described in subclause (I), (II), 
or (III). 
‘‘(B) NEWSPAPER.—The term ‘newspaper’ 
does not include any newspaper (determined 
without regard to this subparagraph) to which 
any of the following apply: 
‘‘(i) Is not in general circulation. 
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pamtmann on DSKBC07HB2PROD with BILLS
585 
‘‘(ii) Is published (on newsprint or 
electronically) less frequently than 3 times 
per week. 
‘‘(iii) Has not ever been regularly 
published on newsprint. 
‘‘(iv) Does not have a bona fide list of 
paid subscribers. 
‘‘(C) CONTROL.—A person shall be treated 
as controlled by another person if such other 
person possesses, directly or indirectly, the 
power to direct or cause the direction and man-
agement of such person (including the power to 
elect a majority of the members of the board of 
directors of such person) through the ownership 
of voting securities. 
‘‘(6) CONTROLLED
GROUP.—For purposes of 
this subsection, the term ‘controlled group’ means all 
persons treated as a single employer under sub-
section (b), (c), (m), or (o) of section 414 of the In-
ternal Revenue Code of 1986 as of the date of the 
enactment of this subsection. 
‘‘(7) EFFECT
ON
PREMIUM
RATE
CALCULA-
TION.—Notwithstanding any other provision of law 
or any regulation issued by the Pension Benefit 
Guaranty Corporation, in the case of a plan for 
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pamtmann on DSKBC07HB2PROD with BILLS
586 
which an election is made to apply the alternative 
standards described in paragraph (3), the additional 
premium under section 4006(a)(3)(E) shall be deter-
mined as if such election had not been made.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to plan years ending after Decem-
ber 31, 2017. 
SEC. 9708. COST OF LIVING ADJUSTMENT FREEZE. 
(a) IN GENERAL.—Subsection (d) of section 415 of 
the Internal Revenue Code of 1986 is amended by adding 
at the end the following new paragraph: 
‘‘(5) FREEZE
ON
COST
OF
LIVING
ADJUST-
MENTS.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), in the case of calendar years 
beginning after December 31, 2030— 
‘‘(i) no adjustment shall be made 
under paragraph (1), and 
‘‘(ii) the dollar amounts as adjusted 
under such paragraph for calendar year 
2030 shall apply. 
‘‘(B) 
EXCEPTION.—Subparagraph 
(A) 
shall not apply in the case of a plan maintained 
pursuant to 1 or more collective bargaining 
agreements.’’. 
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pamtmann on DSKBC07HB2PROD with BILLS
587 
(b) COMPENSATION LIMIT.—Paragraph (17) of sec-
tion 401(a) of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new subpara-
graph: 
‘‘(C) FREEZE ON COST OF LIVING ADJUST-
MENTS.— 
‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (ii), in the case of calendar 
years 
beginning 
after 
December 
31, 
2030— 
‘‘(I) no adjustment shall be made 
under subparagraph (B), and 
‘‘(II) the dollar amount as ad-
justed under such subparagraph for 
calendar year 2030 shall apply. 
‘‘(ii) EXCEPTION.—Clause (i) shall 
not apply in the case of a plan maintained 
pursuant to 1 or more collective bargaining 
agreements.’’. 
(c) CONFORMING AMENDMENTS.— 
(1) Section 45A(c)(3) of the Internal Revenue 
Code of 1986 is amended by striking ‘‘415(d)’’ and 
inserting ‘‘415(d) (without regard to paragraph (5) 
thereof)’’. 
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