Any increase determined under the preceding sen-
tence shall be rounded to the nearest multiple of 
$500.’’. 
(c) SAVER’S CREDIT.—The heading for section 25B 
of such Code is amended to read as follows: ‘‘SAVER’S 
CREDIT.’’. 
(d) SAVER’S CREDIT PROMOTION.— 
(1) IN GENERAL.—The Secretary of the Treas-
ury (or the Secretary’s delegate) shall take such 
steps as the Secretary (or delegate) determines are 
necessary and appropriate to increase public aware-
ness of the credit provided under section 25B of 
such Code (as amended by this section). 
(2) REPORT.—Not later than 1 year after the 
date of the enactment of this Act, the Secretary (or 
delegate) shall submit to Congress a report detailing 
the steps taken under paragraph (1). 
(e) CLERICAL AMENDMENT.—The table of sections 
for subpart A of part IV of subchapter A of chapter 1 
of such Code is amended by striking the item relating to 
section 25B and inserting the following new item: 
‘‘Sec. 25B. Saver’s credit.’’. 
(f) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
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SEC. 104. ENHANCEMENT OF 403(b) PLANS. 
(a) IN GENERAL.— 
(1) 
PERMITTED
INVESTMENTS.—Section 
403(b)(7)(A) of the Internal Revenue Code of 1986 
is amended by striking ‘‘if the amounts are to be in-
vested in regulated investment company stock to be 
held in that custodial account’’ and inserting ‘‘if the 
amounts are to be held in that custodial account and 
invested in regulated investment company stock or a 
group trust intended to satisfy the requirements of 
Internal Revenue Service Revenue Ruling 81–100 
(or any successor guidance)’’. 
(2) CONFORMING AMENDMENT.—The heading 
of paragraph (7) of section 403(b) of such Code is 
amended by striking ‘‘FOR REGULATED INVESTMENT 
COMPANY STOCK’’. 
(3) EFFECTIVE DATE.—The amendments made 
by this subsection shall apply to amounts invested 
after December 31, 2020. 
(b) AMENDMENTS TO THE INVESTMENT COMPANY 
ACT OF 1940.—Section 3(c)(11) of the Investment Com-
pany Act of 1940 (15 U.S.C. 80a–3(c)(11)) is amended 
to read as follows: 
‘‘(11) Any— 
‘‘(A) employee’s stock bonus, pension, or 
profit-sharing trust which meets the require-
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ments for qualification under section 401 of the 
Internal Revenue Code of 1986; 
‘‘(B) custodial account meeting the re-
quirements of section 403(b)(7) of such Code; 
‘‘(C) governmental plan described in sec-
tion 3(a)(2)(C) of the Securities Act of 1933; 
‘‘(D) collective trust fund maintained by a 
bank consisting solely of assets of one or 
more— 
‘‘(i) trusts described in subparagraph 
(A); 
‘‘(ii) government plans described in 
subparagraph (C); 
‘‘(iii) church plans, companies, or ac-
counts that are excluded from the defini-
tion of an investment company under para-
graph (14) of this subsection; or 
‘‘(iv) plans which meet the require-
ments of section 403(b) of the Internal 
Revenue Code of 1986 if— 
‘‘(I) such plan is subject to title 
I of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1001 
et seq.); 
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‘‘(II) any employer making such 
plan available agrees to serve as a fi-
duciary for the plan with respect to 
the selection of the plan’s investments 
among which participants can choose; 
or 
‘‘(III) such plan is a govern-
mental plan (as defined in section 
414(d) of such Code); or 
‘‘(E) separate account the assets of which 
are derived solely from— 
‘‘(i) contributions under pension or 
profit-sharing plans which meet the re-
quirements of section 401 of the Internal 
Revenue Code of 1986 or the requirements 
for deduction of the employer’s contribu-
tion under section 404(a)(2) of such Code; 
‘‘(ii) 
contributions 
under 
govern-
mental plans in connection with which in-
terests, participations, or securities are ex-
empted from the registration provisions of 
section 5 of the Securities Act of 1933 by 
section 3(a)(2)(C) of such Act; 
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‘‘(iii) advances made by an insurance 
company in connection with the operation 
of such separate account; and 
‘‘(iv) contributions to a plan described 
in subparagraph (D)(iv).’’. 
(c) AMENDMENTS
TO
THE SECURITIES ACT
OF 
1933.—Section 3(a)(2) of the Securities Act of 1933 (15 
U.S.C. 77c(a)(2)) is amended— 
(1) by striking ‘‘or (D)’’ and inserting ‘‘(D) a 
plan which meets the requirements of section 403(b) 
of such Code if (i) such plan is subject to title I of 
the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1001 et seq.), (ii) any employer 
making such plan available agrees to serve as a fidu-
ciary for the plan with respect to the selection of the 
plan’s investments among which participants can 
choose, or (iii) such plan is a governmental plan (as 
defined in section 414(d) of such Code); or (E)’’; 
(2) by striking ‘‘(C), or (D)’’ and inserting 
‘‘(C), (D), or (E)’’; and 
(3) by striking ‘‘(iii) which is a plan funded’’ 
and inserting ‘‘(iii) in the case of a plan not de-
scribed in subparagraph (D), which is a plan fund-
ed’’. 
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(d) AMENDMENTS TO THE SECURITIES EXCHANGE 
ACT OF 1934.—Section 3(a)(12)(C) of the Securities Ex-
change Act of 1934 (15 U.S.C. 78c(a)(12)(C)) is amend-
ed— 
(1) by striking ‘‘or (iv)’’ and inserting ‘‘(iv) a 
plan which meets the requirements of section 403(b) 
of such Code if (I) such plan is subject to title I of 
the Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1001 et seq.), (II) any employer 
making such plan available agrees to serve as a fidu-
ciary for the plan with respect to the selection of the 
plan’s investments among which participants can 
choose, or (III) such plan is a governmental plan (as 
defined in section 414(d) of such Code), or (v)’’; 
(2) by striking ‘‘(ii), or (iii)’’ and inserting 
‘‘(ii), (iii), or (iv)’’; and 
(3) by striking ‘‘(II) is a plan funded’’ and in-
serting ‘‘(II) in the case of a plan not described in 
clause (iv), is a plan funded’’. 
SEC. 105. INCREASE IN AGE FOR REQUIRED BEGINNING 
DATE FOR MANDATORY DISTRIBUTIONS. 
(a) IN GENERAL.—Section 401(a)(9)(C)(i)(I) of the 
Internal Revenue Code of 1986 is amended by striking 
‘‘age 72’’ and inserting ‘‘age 75’’. 
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(b) SPOUSE BENEFICIARIES; SPECIAL RULE
FOR 
OWNERS.—Subparagraphs (B)(iv)(I) and (C)(ii)(I) of sec-
tion 401(a)(9) of such Code are each amended by striking 
‘‘age 72’’ and inserting ‘‘age 75’’. 
(c) CONFORMING AMENDMENTS.—The last sentence 
of section 408(b) of such Code is amended by striking 
‘‘age 72’’ and inserting ‘‘age 75’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to distributions required to be 
made after December 31, 2020, with respect to individuals 
who attain age 72 after such date. 
SEC. 106. DEFERRAL OF TAX FOR CERTAIN SALES OF EM-
PLOYER STOCK TO EMPLOYEE STOCK OWN-
ERSHIP PLAN SPONSORED BY S CORPORA-
TION. 
(a) IN GENERAL.—Section 1042(c)(1)(A) of the In-
ternal Revenue Code of 1986 is amended by striking ‘‘do-
mestic C corporation’’ and inserting ‘‘domestic corpora-
tion’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to sales after the date of the enact-
ment of this Act. 
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SEC. 107. INDEXING IRA CATCH-UP LIMIT. 
(a) IN GENERAL.—Subparagraph (C) of section 
219(b)(5) of the Internal Revenue Code of 1986 is amend-
ed by adding at the end the following new clause: 
‘‘(iii) INDEXING OF CATCH-UP LIMITA-
TION.—In the case of any taxable year be-
ginning in a calendar year after 2021, the 
$1,000 amount under subparagraph (B)(ii) 
shall be increased by an amount equal to— 
‘‘(I) such dollar amount, multi-
plied by 
‘‘(II) the cost-of-living adjust-
ment determined under section 1(f)(3) 
for the calendar year in which the tax-
able year begins, determined by sub-
stituting ‘calendar year 2020’ for ‘cal-
endar year 2016’ in subparagraph 
(A)(ii) thereof. 
If any amount after adjustment under the 
preceding sentence is not a multiple of 
$100, such amount shall be rounded to the 
next lower multiple of $100.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2021. 
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SEC. 108. HIGHER CATCH-UP LIMIT TO APPLY AT AGE 60. 
(a) IN GENERAL.— 
(1) PLANS OTHER THAN SIMPLE PLANS.—Sec-
tion 414(v)(2)(B)(i) of the Internal Revenue Code of 
1986 is amended by inserting the following before 
the period: ‘‘($10,000, in the case of an eligible par-
ticipant who has attained age 60 before the close of 
the taxable year)’’. 
(2) SIMPLE PLANS.—Section 414(v)(2)(B)(ii) of 
such Code is amended by inserting the following be-
fore the period: ‘‘($5,000, in the case of an eligible 
participant who has attained age 60 before the close 
of the taxable year)’’. 
(b) COST-OF-LIVING ADJUSTMENTS.—Subparagraph 
(C) of section 414(v)(2) of such Code is amended by add-
ing at the end the following: ‘‘In the case of a year begin-
ning after December 31, 2021, the Secretary shall adjust 
annually the $10,000 amount in subparagraph (B)(i) and 
the $5,000 amount in subparagraph (B)(ii) for increases 
in the cost-of-living at the same time and in the same 
manner as adjustments under the preceding sentence; ex-
cept that the base period taken into account shall be the 
calendar quarter beginning July 1, 2020.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to years beginning after December 
31, 2020. 
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SEC. 109. MULTIPLE EMPLOYER 403(b) PLANS. 
(a) IN GENERAL.—Section 403(b) of the Internal 
Revenue Code of 1986 is amended by adding at the end 
the following new paragraph: 
‘‘(15) MULTIPLE EMPLOYER PLANS.— 
‘‘(A) IN GENERAL.—Except in the case of 
a church plan, this subsection shall not be 
treated as failing to apply to an annuity con-
tract solely by reason of such contract being 
purchased under a plan maintained by more 
than 1 employer. 
‘‘(B) TREATMENT OF EMPLOYERS FAILING 
TO MEET REQUIREMENTS OF PLAN.— 
‘‘(i) IN GENERAL.—In the case of a 
plan maintained by more than 1 employer, 
this subsection shall not be treated as fail-
ing to apply to an annuity contract held 
under such plan merely because of one or 
more employers failing to meet the require-
ments of this subsection if such plan satis-
fies rules similar to the rules of section 
413(e)(2) with respect to any such em-
ployer failure. 
‘‘(ii) ADDITIONAL REQUIREMENTS IN 
CASE OF NON-GOVERNMENTAL PLANS.—A 
plan shall not be treated as meeting the re-
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quirements of this subparagraph unless the 
plan meets the requirements of subpara-
graph (A) or (B) of section 413(e)(1), ex-
cept in the case of a multiple employer 
plan maintained solely by any of the fol-
lowing: A State, a political subdivision of a 
State, or an agency or instrumentality of 
any one or more of the foregoing.’’. 
(b) ANNUAL REGISTRATION FOR 403(b) MULTIPLE 
EMPLOYER PLAN.—Section 6057 of such Code is amend-
ed by redesignating subsection (g) as subsection (h) and 
by inserting after subsection (f) the following new sub-
section: 
‘‘(g) 403(b) MULTIPLE EMPLOYER PLANS TREATED 
AS ONE PLAN.—In the case of annuity contracts to which 
this section applies and to which section 403(b) applies 
by reason of the plan under which such contracts are pur-
chased meeting the requirements of paragraph (15) there-
of, such plan shall be treated as a single plan for purposes 
of this section.’’. 
(c) ANNUAL INFORMATION RETURNS
FOR 403(b) 
MULTIPLE EMPLOYER PLAN.—Section 6058 of the Inter-
nal Revenue Code of 1986 is amended by redesignating 
subsection (f) as subsection (g) and by inserting after sub-
section (e) the following new subsection: 
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‘‘(f) 403(b) MULTIPLE EMPLOYER PLANS TREATED 
AS ONE PLAN.—In the case of annuity contracts to which 
this section applies and to which section 403(b) applies 
by reason of the plan under which such contracts are pur-
chased meeting the requirements of paragraph (15) there-
of, such plan shall be treated as a single plan for purposes 
of this section.’’. 
(d) AMENDMENTS TO EMPLOYEE RETIREMENT IN-
COME SECURITY ACT OF 1974.— 
(1) TREATED AS POOLED EMPLOYER PLAN.— 
(A) IN GENERAL.—Section 3(43)(A) of the 
Employee Retirement Income Security Act of 
1974 is amended— 
(i) in clause (ii), by striking ‘‘section 
501(a) of such Code or’’ and inserting 
‘‘501(a) of such Code, a plan that consists 
of contracts described in section 403(b) of 
such Code, or’’; and 
(ii) in the flush text at the end, by 
striking ‘‘the plan.’’ and inserting ‘‘the 
plan, but such term shall include any pro-
gram (other than a governmental plan) 
maintained for the benefit of the employees 
of more than 1 employer that consists of 
contracts described in section 403(b) of 
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such Code and that meets the require-
ments of subparagraph (A) or (B) of sec-
tion 413(e)(1) of such Code.’’. 
(B) 
CONFORMING
AMENDMENTS.—Sec-
tions 3(43)(B)(v)(II) and 3(44)(A)(i)(I) of such 
Act are each amended by striking ‘‘section 
401(a) of such Code or’’ and inserting ‘‘401(a) 
of such Code, a plan that consists of contracts 
described in section 403(b) of such Code, or’’. 
(2) FIDUCIARIES.—Section 3(43)(B)(ii) of such 
Act is amended— 
(A) by striking ‘‘trustees meeting the re-
quirements of section 408(a)(2) of the Internal 
Revenue Code of 1986’’ and inserting ‘‘trustees 
(or other fiduciaries in the case of a plan that 
consists of contracts described in section 403(b) 
of the Internal Revenue Code of 1986) meeting 
the requirements of section 408(a)(2) of such 
Code’’, and 
(B) by striking ‘‘holding’’ and inserting 
‘‘holding (or causing to be held under the terms 
of a plan consisting of such contracts)’’. 
(e) REGULATIONS
RELATING
TO
PLAN
TERMI-
NATION.—The Secretary of the Treasury (or the Sec-
retary’s designee) shall prescribe such regulations as may 
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be necessary to clarify the treatment of a plan termination 
by an employer in the case of plans to which section 
403(b)(15) of such Code applies. 
(f) MODIFICATION OF MODEL PLAN LANGUAGE.— 
(1) PLAN
NOTIFICATIONS.—The Secretary of 
the Treasury (or the Secretary’s designee) shall 
modify the model plan language published under sec-
tion 413(e)(5) of the Internal Revenue Code of 1986 
to include language which notifies participating em-
ployers which are exempt from tax under section 
501(a) of such Code that the plan is subject to the 
Employee Retirement Income Security Act of 1974 
and that such employer is a plan sponsor with re-
spect to its employees participating in the multiple 
employer plan and, as such, has certain fiduciary 
duties with respect to the plan and to its employees. 
(2) MODEL PLANS FOR MULTIPLE EMPLOYER 
403(b) NON-GOVERNMENTAL PLANS.—For plans to 
which section 403(b)(15)(A) of the Internal Revenue 
Code of 1986 applies (other than a plan maintained 
for its employees by a State, a political subdivision 
of a State, or an agency or instrumentality of any 
one or more of the foregoing) the Secretary shall 
publish model plan language similar to model plan 
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language published under section 413(e)(5) of such 
Code. 
(g) NO INFERENCE WITH RESPECT
TO CHURCH 
PLANS.—Regarding any application of section 403(b) of 
the Internal Revenue Code of 1986 to an annuity contract 
purchased under a church plan (as defined in section 
414(e) of such Code) maintained by more than 1 em-
ployer, or to any application of rules similar to section 
413(e) of such Code to such a plan, no inference shall 
be made from section 403(b)(15)(A) of such Code (as 
added by this Act) not applying to such plans. 
(h) EFFECTIVE DATE.— 
(1) IN GENERAL.—The amendments made by 
this section shall apply to plan years beginning after 
December 31, 2020. 
(2) RULE OF CONSTRUCTION.—Nothing in the 
amendments made by subsection (a) shall be con-
strued as limiting the authority of the Secretary of 
the Treasury or the Secretary’s delegate (determined 
without regard to such amendment) to provide for 
the proper treatment of a failure to meet any re-
quirement applicable under such Code with respect 
to one employer (and its employees) in the case of 
a plan to which section 403(b)(15) applies. 
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SEC. 110. TREATMENT OF STUDENT LOAN PAYMENTS AS 
ELECTIVE DEFERRALS FOR PURPOSES OF 
MATCHING CONTRIBUTIONS. 
(a) IN GENERAL.—Subparagraph (A) of section 
401(m)(4) of the Internal Revenue Code of 1986 is 
amended by striking ‘‘and’’ at the end of clause (i), by 
striking the period at the end of clause (ii) and inserting 
‘‘, and’’, and by adding at the end the following new 
clause: 
‘‘(iii) subject to the requirements of 
paragraph (13), any employer contribution 
made to a defined contribution plan on be-
half of an employee on account of a quali-
fied student loan payment.’’. 
(b) QUALIFIED STUDENT LOAN PAYMENT.—Para-
graph (4) of section 401(m) of such Code is amended by 
adding at the end the following new subparagraph: 
‘‘(D) QUALIFIED
STUDENT
LOAN
PAY-
MENT.—The term ‘qualified student loan pay-
ment’ means a payment made by an employee 
in repayment of a qualified education loan (as 
defined section 221(d)(1)) incurred by the em-
ployee to pay qualified higher education ex-
penses, but only— 
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‘‘(i) to the extent such payments in 
the aggregate for the year do not exceed 
an amount equal to— 
‘‘(I) the limitation applicable 
under section 402(g) for the year (or, 
if lesser, the employee’s compensation 
(as defined in section 415(c)(3)) for 
the year), reduced by 
‘‘(II) the elective deferrals made 
by the employee for such year, and 
‘‘(ii) if the employee certifies to the 
employer making the matching contribu-
tion under this paragraph that such pay-
ment has been made on such loan. 
For purposes of this subparagraph, the term 
‘qualified higher education expenses’ means the 
cost of attendance (as defined in section 472 of 
the Higher Education Act of 1965, as in effect 
on the day before the date of the enactment of 
the Taxpayer Relief Act of 1997) at an eligible 
educational institution (as defined in section 
221(d)(2)).’’. 
(c) MATCHING
CONTRIBUTIONS
FOR
QUALIFIED 
STUDENT LOAN PAYMENTS.—Subsection (m) of section 
401 of such Code is amended by redesignating paragraph 
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(13) as paragraph (14), and by inserting after paragraph 
(12) the following new paragraph: 
‘‘(13) MATCHING CONTRIBUTIONS FOR QUALI-
FIED STUDENT LOAN PAYMENTS.— 
‘‘(A) IN GENERAL.—For purposes of para-
graph (4)(A)(iii), an employer contribution 
made to a defined contribution plan on account 
of a qualified student loan payment shall be 
treated as a matching contribution for purposes 
of this title if— 
‘‘(i) the plan provides matching con-
tributions on account of elective deferrals 
at the same rate as contributions on ac-
count of qualified student loan payments, 
‘‘(ii) the plan provides matching con-
tributions on account of qualified student 
loan payments only on behalf of employees 
otherwise eligible to receive matching con-
tributions on account of elective deferrals, 
‘‘(iii) under the plan, all employees el-
igible to receive matching contributions on 
account of elective deferrals are eligible to 
receive matching contributions on account 
of qualified student loan payments, and 
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‘‘(iv) the plan provides that matching 
contributions on account of qualified stu-
dent loan payments vest in the same man-
ner as matching contributions on account 
of elective deferrals. 
‘‘(B) TREATMENT FOR PURPOSES OF NON-
DISCRIMINATION RULES, ETC.— 
‘‘(i) NONDISCRIMINATION
RULES.— 
For purposes of subparagraph (A)(iii), 
subsection (a)(4), and section 410(b), 
matching contributions described in para-
graph (4)(A)(iii) shall not fail to be treated 
as available to an employee solely because 
such employee does not have debt incurred 
under a qualified education loan (as de-
fined in section 221(d)(1)). 
‘‘(ii) STUDENT LOAN PAYMENTS NOT 
TREATED
AS
PLAN
CONTRIBUTION.—Ex-
cept as provided in clause (iii), a qualified 
student loan payment shall not be treated 
as a contribution to a plan under this title. 
‘‘(iii) 
MATCHING
CONTRIBUTION 
RULES.—Solely for purposes of meeting 
the requirements of paragraph (11)(B) or 
(12) of this subsection, or paragraph 
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(11)(B)(i)(II), (12)(B), or (13)(D) of sub-
section (k), a plan may treat a qualified 
student loan payment as an elective defer-
ral or an elective contribution, whichever is 
applicable.’’. 
(d) SIMPLE RETIREMENT ACCOUNTS.—Paragraph 
(2) of section 408(p) of such Code is amended by adding 
at the end the following new subparagraph: 
‘‘(F) 
MATCHING
CONTRIBUTIONS
FOR 
QUALIFIED STUDENT LOAN PAYMENTS.— 
‘‘(i) IN
GENERAL.—Subject to the 
rules of clause (iii), an arrangement shall 
not fail to be treated as meeting the re-
quirements of subparagraph (A)(iii) solely 
because under the arrangement, solely for 
purposes of such subparagraph, qualified 
student loan payments are treated as 
amounts elected by the employee under 
subparagraph (A)(i)(I) to the extent such 
payments do not exceed— 
‘‘(I) the applicable dollar amount 
under subparagraph (E) (after appli-
cation of section 414(v)) for the year 
(or, if lesser, the employee’s com-
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pensation 
(as 
defined 
in 
section 
415(c)(3)) for the year), reduced by 
‘‘(II) any other amounts elected 
by the employee under subparagraph 
(A)(i)(I) for the year. 
‘‘(ii) QUALIFIED STUDENT LOAN PAY-
MENT.—For purposes of this subpara-
graph— 
‘‘(I) IN
GENERAL.—The term 
‘qualified 
student 
loan 
payment’ 
means a payment made by an em-
ployee in repayment of a qualified 
education loan (as defined in section 
221(d)(1)) incurred by the employee 
to pay qualified higher education ex-
penses, but only if the employee cer-
tifies to the employer making the 
matching contribution that such pay-
ment has been made on such a loan. 
‘‘(II) QUALIFIED
HIGHER
EDU-
CATION EXPENSES.—The term ‘quali-
fied higher education expenses’ has 
the same meaning as when used in 
section 401(m)(4)(D). 
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‘‘(iii) APPLICABLE RULES.—Clause (i) 
shall apply to an arrangement only if, 
under the arrangement— 
‘‘(I) matching contributions on 
account of qualified student loan pay-
ments are provided only on behalf of 
employees otherwise eligible to elect 
contributions 
under 
subparagraph 
(A)(i)(I), and 
‘‘(II) all employees otherwise eli-
gible to participate in the arrange-
ment are eligible to receive matching 
contributions on account of qualified 
student loan payments.’’. 
(e) 403(b) PLANS.—Subparagraph (A) of section 
403(b)(12) of such Code is amended by adding at the end 
the following: ‘‘The fact that the employer offers matching 
contributions on account of qualified student loan pay-
ments as described in section 401(m)(13) shall not be 
taken into account in determining whether the arrange-
ment satisfies the requirements of clause (ii) (and any reg-
ulation thereunder).’’. 
(f) 457(b) PLANS.—Subsection (b) of section 457 of 
such Code is amended by adding at the end the following: 
‘‘A plan which is established and maintained by an em-
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the exercise of its fiduciary discretion, not to seek 
recovery of all or part of such overpayment from— 
‘‘(A) any participant or beneficiary, 
‘‘(B) any plan sponsor of, or contributing 
employer to— 
‘‘(i) an individual account plan, pro-
vided that the amount needed to prevent or 
restore any impermissible forfeiture from 
any participant’s or beneficiary’s account 
arising in connection with the overpayment 
is, separately from and independently of 
the overpayment, allocated to such account 
pursuant to the nonforfeitability require-
ments of section 203 (for example, out of 
the plan’s forfeiture account, additional 
employer contributions, or recoveries from 
those responsible for the overpayment), or 
‘‘(ii) a defined benefit pension plan 
subject to the funding rules in part 3 of 
this subtitle B, unless the responsible plan 
fiduciary determines, in the exercise of its 
fiduciary discretion, that failure to recover 
all or part of the overpayment faster than 
required under such funding rules would 
materially affect the plan’s ability to pay 
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develop and maintain an online searchable data-
base (to be managed by the Pension Benefit 
Guaranty Corporation) of unclaimed vested 
benefits of participants and beneficiaries in 
plans— 
(i) to allow an individual to search for 
information that enables the individual to 
locate the plan administrator of any plans 
with respect to which the individual is a 
participant or beneficiary, and to provide 
contact information for the plan adminis-
trator of any plan described in subpara-
graph (B) with respect to which the indi-
vidual may be entitled to a benefit; 
(ii) to allow the corporation to assist 
such an individual in locating any plan of 
the individual; and 
(iii) to allow the corporation to make 
any necessary changes to contact informa-
tion on record for the plan administrator 
based on any changes to the plan due to 
merger or consolidation of the plan with 
any other plan, division of the plan into 
two or more plans, bankruptcy, termi-
nation, change in name of the plan, change 
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