be treated as having accrued during the current plan year."
Subsec. (c)(5)(B)(i). Pub. L. 110-458, § 202(a)(2), added cl. (i) and struck out former cl. (i). Prior to amendment, text read as follows: "Except as provided in clauses (iii) and (iv), in the case of plan years beginning after 2007 and before 2011, only the applicable percentage of the funding target shall be taken into account under paragraph (3)(A) in determining the funding shortfall for the plan year for purposes of subparagraph (A)."
Subsec. (c)(5)(B)(iii). Pub. L. 110-458, § 202(a)(1), redesignated cl. (iv) as (iii) and struck out former cl. (iii). Prior to amendment, text read as follows: "Clause (i) shall not apply with respect to any plan year beginning after 2008 unless the shortfall amortization base for each of the preceding years beginning after 2007 was zero (determined after application of this subparagraph)."
Pub. L. 110-458, § 101(b)(1)(B), inserted "beginning" before "after 2008".
Subsec. (c)(5)(B)(iv). Pub. L. 110-458, § 202(a)(1), redesignated cl. (iv) as (iii).
Subsec. (c)(5)(B)(iv)(II). Pub. L. 110-458, § 101(b)(1)(C), inserted "for such year" after "beginning in 2007)".
Subsec. (f)(4)(A). Pub. L. 110-458, § 101(b)(1)(D), substituted "paragraph (3)" for "paragraph (2)".
Subsec. (g)(3)(B). Pub. L. 110-458, § 121(a), amended concluding provisions generally. Prior to amendment, concluding provisions read as follows: "Any such averaging shall be adjusted for contributions and distributions (as provided by the Secretary of the Treasury)."
Subsec. (h)(2)(F). Pub. L. 110-458, § 101(b)(1)(E), substituted "section 1055(g)(3)(B)(iii)(I) of this title for such month)" for "section 1055(g)(3)(B)(iii)(I) of this title) for such month" and "subparagraph (C)" for "subparagraph (B)".
Subsec. (i)(2)(A). Pub. L. 110-458, § 101(b)(1)(F)(i)(I), added subpar. (A) and struck out former subpar. (A) which read as follows: "the present value of all benefits which are expected to accrue or be earned under the plan during the plan year, determined using the additional actuarial assumptions described in paragraph (1)(B), plus".
Subsec. (i)(2)(B). Pub. L. 110-458, § 101(b)(1)(F)(i)(II), substituted "the amount determined under subsection (b)(1)(A)(i) with respect to the plan for the plan year" for "the target normal cost (determined without regard to this paragraph) of the plan for the plan year".
Subsec. (i)(4)(B). Pub. L. 110-458, § 101(b)(1)(F)(ii), substituted "subparagraph (A)" for "subparagraph (A)(ii)" in concluding provisions.
Subsec. (j)(3)(A). Pub. L. 110-458, § 101(b)(1)(G)(i), inserted last sentence.
Subsec. (j)(3)(E). Pub. L. 110-458, § 101(b)(1)(G)(ii), (iii), substituted ", short years, and years with alternate valuation date" for "and short years" in heading and added cl. (iii).
Subsec. (k)(6)(B). Pub. L. 110-458, § 101(b)(1)(H), struck out ", except that in the case of a payment other than a required installment, the due date shall be the date such payment is required to be made under this section" after "subsection (j)".
Statutory Notes and Related Subsidiaries
Effective Date of 2021 AmendmentAmendment by section 9705(b) of Pub. L. 117-2 applicable to plan years beginning after Dec. 31, 2018, see section 9705(c) of Pub. L. 117-2, set out as a note under section 430 of Title 26, Internal Revenue Code.
Amendment