Worker, Retiree, and Employer Recovery Act of 2008
PL 110-458 (H.R.7327), enacted 12/23/2008

122 STAT. 5092 
PUBLIC LAW 110–458—DEC. 23, 2008 
Public Law 110–458 
110th Congress 
An Act 
To make technical corrections related to the Pension Protection Act of 2006, and 
for other purposes. 
Be it enacted by the Senate and House of Representatives of 
the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the ‘‘Worker, 
Retiree, and Employer Recovery Act of 2008’’. 
(b) TABLE OF CONTENTS.—The table of contents for this Act 
is as follows: 
Sec. 1. Short title; table of contents. 
TITLE I—TECHNICAL CORRECTIONS RELATED TO THE PENSION 
PROTECTION ACT OF 2006 
Sec. 100. References in title. 
Subtitle A—Technical Corrections Related to the Pension Protection Act of 2006 
Sec. 101. Amendments related to Title I. 
Sec. 102. Amendments related to title II. 
Sec. 103. Amendments related to title III. 
Sec. 104. Amendments related to title IV. 
Sec. 105. Amendments related to title V. 
Sec. 106. Amendments related to title VI. 
Sec. 107. Amendments related to title VII. 
Sec. 108. Amendments related to title VIII. 
Sec. 109. Amendments related to title IX. 
Sec. 110. Amendments related to title X. 
Sec. 111. Amendments related to title XI. 
Sec. 112. Effective date. 
Subtitle B—Other Provisions 
Sec. 121. Amendments Related to Sections 102 and 112 of the Pension Protection 
Act of 2006. 
Sec. 122. Modification of interest rate assumption required with respect to certain 
small employer plans. 
Sec. 123. Determination of market rate of return for governmental plans. 
Sec. 124. Treatment of certain reimbursements from governmental plans for med-
ical care. 
Sec. 125. Rollover of amounts received in airline carrier bankruptcy to Roth IRAs. 
Sec. 126. Determination of asset value for special airline funding rules. 
Sec. 127. Modification of penalty for failure to file partnership returns. 
Sec. 128. Modification of penalty for failure to file S corporation returns. 
TITLE II—PENSION PROVISIONS RELATING TO ECONOMIC CRISIS 
Sec. 201. Temporary waiver of required minimum distribution rules for certain re-
tirement plans and accounts. 
Sec. 202. Transition rule clarification. 
Sec. 203. Temporary modification of application of limitation on benefit accruals. 
Sec. 204. Temporary delay of designation of multiemployer plans as in endangered 
or critical status. 
29 USC 1001 
note. 
Worker, Retiree, 
and Employer 
Recovery Act of 
2008. 
Dec. 23, 2008 
[H.R. 7327] 
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122 STAT. 5093 
PUBLIC LAW 110–458—DEC. 23, 2008 
Sec. 205. Temporary extension of the funding improvement and rehabilitation peri-
ods for multiemployer pension plans in critical and endangered status 
for 2008 or 2009. 
TITLE I—TECHNICAL CORRECTIONS RE-
LATED TO THE PENSION PROTECTION 
ACT OF 2006 
SEC. 100. REFERENCES IN TITLE. 
For purposes of this title: 
(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. 
Subtitle A—Technical Corrections Related 
to the Pension 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 amended by inserting 
‘‘which reduces the accrued benefit of any participant’’ after 
‘‘subsection (d)(2)’’ in subparagraph (A). 
(C) Section 302(d)(1) of ERISA is amended 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 accrued benefit of any 
participant’’ after ‘‘subsection (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 subsection (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 
29 USC 1083. 
26 USC 412. 
29 USC 1082. 
26 USC 72 note. 
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122 STAT. 5094 
PUBLIC LAW 110–458—DEC. 23, 2008 
‘‘(ii) the amount of plan-related expenses expected 
to be paid from plan assets 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 COMPENSATION.—For 
purposes of this subsection, if any benefit attributable to serv-
ices performed in a preceding plan year is increased by reason 
of any increase in compensation during the current plan year, 
the increase in such benefit shall be treated as having 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 inserting ‘‘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 subparagraph: 
‘‘(A) the excess of— 
‘‘(i) 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, determined using the 
additional actuarial assumptions described in 
paragraph (1)(B), plus 
‘‘(II) the amount of plan-related expenses 
expected to be paid from plan assets during the 
plan year, over 
‘‘(ii) the amount of mandatory employee contribu-
tions expected to be made during the plan year, plus’’, 
and 
(II) in subparagraph (B), by striking ‘‘the tar-
get normal cost (determined without regard to this 
paragraph) of the plan for the plan year’’ and 
inserting ‘‘the amount determined under sub-
section (b)(1)(A)(i) with respect to the plan for the 
plan year’’, and 
(ii) by striking ‘‘subparagraph (A)(ii)’’ in the last 
sentence of paragraph (4)(B) and inserting ‘‘subpara-
graph (A)’’. 
(G) Section 303(j)(3) of ERISA— 
(i) is amended by adding at the end of subpara-
graph (A) the following new sentence: ‘‘In the case 
of plan years beginning in 2008, the funding shortfall 
for the preceding plan year may be determined using 
such methods of estimation as the Secretary of the 
Treasury may provide.’’, 
29 USC 1083. 
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122 STAT. 5095 
PUBLIC LAW 110–458—DEC. 23, 2008 
(ii) by adding at the end of subparagraph (E) the 
following new clause: 
‘‘(iii) PLAN
WITH
ALTERNATE
VALUATION
DATE.— 
The Secretary of the Treasury shall prescribe regula-
tions for the application of this paragraph in the case 
of a plan which has a valuation date other than the 
first day of the plan year.’’, and 
(iii) by striking ‘‘AND SHORT YEARS’’ in the heading 
of subparagraph (E) and inserting ‘‘, SHORT
YEARS, 
AND YEARS WITH ALTERNATE VALUATION DATE’’. 
(H) Section 303(k)(6)(B) of ERISA is amended by 
striking ‘‘, except’’ and all that follows and inserting a 
period. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 430(b) of the 1986 Code is amended to 
read as follows: 
‘‘(b) TARGET NORMAL COST.—For purposes of this section: 
‘‘(1) IN GENERAL.—Except as provided in subsection (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 expenses expected 
to be paid from plan assets 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 COMPENSATION.—For 
purposes of this subsection, if any benefit attributable to serv-
ices performed in a preceding plan year is increased by reason 
of any increase in compensation during the current plan year, 
the increase in such benefit shall be treated as having accrued 
during the current plan year.’’. 
(B) Section 430(c)(5)(B)(iii) of the 1986 Code is amended 
by inserting ‘‘beginning’’ before ‘‘after 2008’’. 
(C) Section 430(c)(5)(B)(iv)(II) of the 1986 Code is 
amended by inserting ‘‘for such year’’ after ‘‘beginning in 
2007)’’. 
(D) Section 430(f) of the 1986 Code is amended— 
(i) by striking ‘‘as of the first day of the plan 
year’’ the second place it appears in the first sentence 
of paragraph (3)(A), 
(ii) by striking ‘‘paragraph (2)’’ in paragraph (4)(A) 
and inserting ‘‘paragraph (3)’’, 
(iii) by striking ‘‘paragraph (1), (2), or (4) of section 
206(g)’’ in paragraph (6)(B)(iii) and inserting ‘‘sub-
section (b), (c), or (e) of section 436’’, 
(iv) by striking ‘‘the sum of’’ in paragraph (6)(C), 
and 
(v) by striking ‘‘of the Treasury’’ in paragraph (8). 
(E) Section 430(h)(2) of the 1986 Code is amended— 
(i) by inserting ‘‘and target normal cost’’ after 
‘‘funding target’’ in subparagraph (B), 
(ii) by striking ‘‘liabilities’’ and inserting ‘‘benefits’’ 
in subparagraph (B), 
26 USC 430. 
29 USC 1083. 
Regulations. 
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122 STAT. 5096 
PUBLIC LAW 110–458—DEC. 23, 2008 
(iii) by striking ‘‘section 417(e)(3)(D)(i)) for such 
month’’ in subparagraph (F) and inserting ‘‘section 
417(e)(3)(D)(i) for such month)’’, and 
(iv) by striking ‘‘subparagraph (B)’’ in subpara-
graph (F) and inserting ‘‘subparagraph (C)’’. 
(F) Section 430(i) of the 1986 Code is amended— 
(i) in paragraph (2)— 
(I) by striking subparagraph (A) and inserting 
the following new subparagraph: 
‘‘(A) the excess of— 
‘‘(i) 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, determined using the 
additional actuarial assumptions described in 
paragraph (1)(B), plus 
‘‘(II) the amount of plan-related expenses 
expected to be paid from plan assets during the 
plan year, over 
‘‘(ii) the amount of mandatory employee contribu-
tions expected to be made during the plan year, plus’’, 
and 
(II) in subparagraph (B), by striking ‘‘the tar-
get normal cost (determined without regard to this 
paragraph) of the plan for the plan year’’ and 
inserting ‘‘the amount determined under sub-
section (b)(1)(A)(i) with respect to the plan for the 
plan year’’, and 
(ii) by striking ‘‘subparagraph (A)(ii)’’ in the last 
sentence of paragraph (4)(B) and inserting ‘‘subpara-
graph (A)’’. 
(G) Section 430(j)(3) of the 1986 Code is amended— 
(i) by adding at the end of subparagraph (A) the 
following new sentence: ‘‘In the case of plan years 
beginning in 2008, the funding shortfall for the pre-
ceding plan year may be determined using such 
methods of estimation as the Secretary may provide.’’, 
(ii) by striking ‘‘section 302(c)’’ in subparagraph 
(D)(ii)(II) and inserting ‘‘section 412(c)’’, 
(iii) by adding at the end of subparagraph (E) 
the following new clause: 
‘‘(iii) PLAN
WITH
ALTERNATE
VALUATION
DATE.— 
The Secretary shall prescribe regulations for the 
application of this paragraph in the case of a plan 
which has a valuation date other than the first day 
of the plan year.’’, and 
(iv) by striking ‘‘AND SHORT YEARS’’ in the heading 
of subparagraph (E) and inserting ‘‘, SHORT
YEARS, 
AND YEARS WITH ALTERNATE VALUATION DATE’’. 
(H) Section 430(k) of the 1986 Code is amended— 
(i) by inserting ‘‘(as provided under paragraph (2))’’ 
after ‘‘applies’’ in paragraph (1), and 
(ii) by striking ‘‘, except’’ and all that follows in 
paragraph (6)(B) and inserting a period. 
(3) EFFECTIVE DATES.— 
(A) IN GENERAL.—Except as provided in subparagraph 
(B), the amendments made by paragraphs (1)(A), (1)(F)(i), 
26 USC 430 note. 
Regulations. 
26 USC 430. 
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122 STAT. 5097 
PUBLIC LAW 110–458—DEC. 23, 2008 
(2)(A), and (2)(F)(i) shall apply to plan years beginning 
after December 31, 2008. 
(B) ELECTION FOR EARLIER APPLICATION.—The amend-
ments made by such paragraphs shall apply to a plan 
for the first plan year beginning after December 31, 2007, 
if the plan sponsor makes the election under this subpara-
graph. An election under this subparagraph shall be made 
at such time and in such manner as the Secretary of 
the Treasury or the Secretary’s delegate may prescribe, 
and, once made, may be revoked only with the consent 
of the Secretary. 
(c) AMENDMENTS RELATED TO SECTIONS 103 AND 113.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 101(j) of ERISA is amended— 
(i) 
in 
paragraph 
(2), 
by 
striking 
‘‘section 
206(g)(4)(B)’’ and inserting ‘‘section 206(g)(4)(A)’’; and 
(ii) by adding at the end the following: ‘‘The Sec-
retary of the Treasury, in consultation with the Sec-
retary, shall have the authority to prescribe rules 
applicable to the notices required under this sub-
section.’’. 
(B) Section 206(g)(1)(B)(ii) of ERISA is amended by 
striking ‘‘a funding’’ and inserting ‘‘an adjusted funding’’. 
(C) The heading for section 206(g)(1)(C) of ERISA is 
amended by inserting ‘‘BENEFIT’’ after ‘‘EVENT’’. 
(D) Section 206(g)(3)(E) of ERISA is amended by adding 
at the end the following new flush sentence: 
‘‘Such term shall not include the payment of a benefit 
which under section 203(e) may be immediately distributed 
without the consent of the participant.’’. 
(E) Section 206(g)(5)(A)(iv) of ERISA is amended by 
inserting ‘‘adjusted’’ before ‘‘funding’’. 
(F) Section 206(g)(9)(C) of ERISA is amended— 
(i) by striking ‘‘without regard to this subpara-
graph and’’ in clause (i), and 
(ii) in clause (iii)— 
(I) by striking ‘‘without regard to this subpara-
graph’’ and inserting ‘‘without regard to the reduc-
tion in the value of assets under section 303(f)(4)’’, 
and 
(II) by inserting ‘‘beginning’’ before ‘‘after’’ each 
place it appears. 
(G) Section 206(g) of ERISA is amended by redesig-
nating paragraph (10) as paragraph (11) and by inserting 
after paragraph (9) the following new paragraph: 
‘‘(10) SECRETARIAL AUTHORITY FOR PLANS WITH ALTERNATE 
VALUATION DATE.—In the case of a plan which has designated 
a valuation date other than the first day of the plan year, 
the Secretary of the Treasury may prescribe rules for the 
application of this subsection which are necessary to reflect 
the alternate valuation date.’’. 
(H) Section 502(c)(4) of ERISA is amended by striking 
‘‘by any person’’ and all that follows through the period 
and inserting ‘‘by any person of subsection (j), (k), or (l) 
of section 101 or section 514(e)(3).’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 436(b)(2) of the 1986 Code is amended— 
26 USC 436. 
29 USC 1132. 
29 USC 1056. 
29 USC 1021. 
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122 STAT. 5098 
PUBLIC LAW 110–458—DEC. 23, 2008 
(i) by striking ‘‘section 303’’ and inserting ‘‘section 
430’’ in the matter preceding subparagraph (A), and 
(ii) by striking ‘‘a funding’’ and inserting ‘‘an 
adjusted funding’’ in subparagraph (B). 
(B) Section 436(b)(3) of the 1986 Code is amended— 
(i) by inserting ‘‘BENEFIT’’ after ‘‘EVENT’’ in the 
heading, and 
(ii) by striking ‘‘any event’’ in subparagraph (B) 
and inserting ‘‘an event’’. 
(C) Section 436(d)(5) of the 1986 Code is amended 
by adding at the end the following new flush sentence: 
‘‘Such term shall not include the payment of a benefit which 
under section 411(a)(11) may be immediately distributed with-
out the consent of the participant.’’. 
(D) Section 436(f) of the 1986 Code is amended— 
(i) by inserting ‘‘adjusted’’ before ‘‘funding’’ in para-
graph (1)(D), and 
(ii) by striking ‘‘prefunding balance under section 
430(f) or funding standard carryover balance’’ in para-
graph (2) and inserting ‘‘prefunding balance or funding 
standard carryover balance under section 430(f)’’. 
(E) Section 436(j)(3) of the 1986 Code is amended— 
(i) in subparagraph (A)— 
(I) by striking ‘‘without regard to this para-
graph and’’, 
(II) by striking ‘‘section 430(f)(4)(A)’’ and 
inserting ‘‘section 430(f)(4)’’, and 
(III) by striking ‘‘paragraph (1)’’ and inserting 
‘‘paragraphs (1) and (2)’’, and 
(ii) in subparagraph (C)— 
(I) by striking ‘‘without regard to this para-
graph’’ and inserting ‘‘without regard to the reduc-
tion in the value of assets under section 430(f)(4)’’, 
and 
(II) by inserting ‘‘beginning’’ before ‘‘after’’ each 
place it appears. 
(F) Section 436 of the 1986 Code is amended by redesig-
nating subsection (k) as subsection (m) and by inserting 
after subsection (j) the following new subsections: 
‘‘(k) SECRETARIAL AUTHORITY
FOR PLANS WITH ALTERNATE 
VALUATION DATE.—In the case of a plan which has designated 
a valuation date other than the first day of the plan year, the 
Secretary may prescribe rules for the application of this section 
which are necessary to reflect the alternate valuation date. 
‘‘(l) SINGLE-EMPLOYER PLAN.—For purposes of this section, the 
term ‘single-employer plan’ means a plan which is not a multiem-
ployer plan.’’. 
(3) AMENDMENTS TO 2006 ACT.—Sections 103(c)(2)(A)(ii) and 
113(b)(2)(A)(ii) of the 2006 Act are each amended— 
(A) by striking ‘‘subsection’’ and inserting ‘‘section’’, 
and 
(B) by striking ‘‘subparagraph’’ and inserting ‘‘para-
graph’’. 
(d) AMENDMENTS RELATED TO SECTIONS 107 AND 114.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 103(d) of ERISA is amended— 
29 USC 1023. 
29 USC 1021; 
26 USC 436 note. 
26 USC 436. 
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122 STAT. 5099 
PUBLIC LAW 110–458—DEC. 23, 2008 
(i) in paragraph (3), by striking ‘‘the normal costs, 
the accrued liabilities’’ and inserting ‘‘the normal costs 
or target normal costs, the accrued liabilities or funding 
target’’, and 
(ii) by striking paragraph (7) and inserting the 
following new paragraph: 
‘‘(7) A certification of the contribution necessary to reduce 
the minimum required contribution determined under section 
303, or the accumulated funding deficiency determined under 
section 304, to zero.’’. 
(B) Section 4071 of ERISA is amended by striking 
‘‘as section 303(k)(4) or 307(e)’’ and inserting ‘‘or section 
303(k)(4),’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 401(a)(29) of the 1986 Code is amended 
by striking ‘‘ON PLANS IN AT-RISK STATUS’’ in the heading. 
(B) Section 401(a)(32)(C) of the 1986 Code is 
amended— 
(i) by striking ‘‘section 430(j)’’ and inserting ‘‘sec-
tion 430(j)(3)’’, and 
(ii) by striking ‘‘paragraph (5)(A)’’ and inserting 
‘‘section 430(j)(4)(A)’’. 
(C) Section 401(a)(33) of the 1986 Code is amended— 
(i) by striking ‘‘section 412(c)(2)’’ in subparagraph 
(B)(iii) and inserting ‘‘section 412(d)(2)’’, and 
(ii) by striking ‘‘section 412(b)(2) (without regard 
to subparagraph (B) thereof)’’ in subparagraph (D) and 
inserting ‘‘section 412(b)(1), without regard to section 
412(b)(2)’’. 
(D) Section 411 of the 1986 Code is amended— 
(i) by striking ‘‘section 412(c)(2)’’ in subsection 
(a)(3)(C) and inserting ‘‘section 412(d)(2)’’, and 
(ii) by striking ‘‘section 412(e)(2)’’ in subsection 
(d)(6)(A) and inserting ‘‘section 412(d)(2)’’. 
(E) Section 414(l)(2)(B)(i)(I) of the 1986 Code is 
amended to read as follows: 
‘‘(I) the sum of the funding target and target 
normal cost determined under section 430, over’’. 
(F) Section 4971 of the 1986 Code is amended— 
(i) by striking ‘‘required minimum’’ in subsection 
(b)(1) and inserting ‘‘minimum required’’, 
(ii) by inserting ‘‘or unpaid minimum required con-
tribution, whichever is applicable’’ after ‘‘accumulated 
funding deficiency’’ each place it appears in subsections 
(c)(3) and (d)(1), and 
(iii) by striking ‘‘section 412(a)(1)(A)’’ in subsection 
(e)(1) and inserting ‘‘section 412(a)(2)’’. 
(3) AMENDMENT
TO
2006
ACT.—Section 114 of the 2006 
Act is amended by adding at the end the following new sub-
section: 
‘‘(g) EFFECTIVE DATES.— 
‘‘(1) IN GENERAL.—The amendments made by this section 
shall apply to plan years beginning after 2007. 
‘‘(2) EXCISE TAX.—The amendments made by subsection 
(e) shall apply to taxable years beginning after 2007, but only 
with respect to plan years described in paragraph (1) which 
end with or within any such taxable year.’’. 
Applicability. 
26 USC 401 note. 
26 USC 4971. 
26 USC 414. 
26 USC 411. 
26 USC 401. 
29 USC 1371. 
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122 STAT. 5100 
PUBLIC LAW 110–458—DEC. 23, 2008 
(e) 
AMENDMENT
RELATED
TO
SECTION
116.—Section 
409A(b)(3)(A)(ii) of the 1986 Code is amended by inserting ‘‘to 
an applicable covered employee’’ after ‘‘under the plan’’. 
SEC. 102. AMENDMENTS RELATED TO TITLE II. 
(a) AMENDMENT RELATED TO SECTIONS 201 AND 211.—Section 
201(b)(2)(A) of the 2006 Act is amended by striking ‘‘has not used’’ 
and inserting ‘‘has not adopted, or ceased using,’’. 
(b) AMENDMENTS RELATED TO SECTIONS 202 AND 212.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 302(b)(3) of ERISA is amended by striking 
‘‘the plan adopts’’ and inserting ‘‘the plan sponsor adopts’’. 
(B) Section 305(b)(3)(C) of ERISA is amended by 
striking 
‘‘section 
101(b)(4)’’ 
and 
inserting 
‘‘section 
101(b)(1)’’. 
(C) Section 305(b)(3)(D) of ERISA is amended by 
striking ‘‘The Secretary’’ in clause (iii) and inserting ‘‘The 
Secretary of the Treasury, in consultation with the Sec-
retary’’. 
(D) Section 305(c)(7) of ERISA is amended— 
(i) by striking ‘‘to agree on’’ and all that follows 
in subparagraph (A)(ii) and inserting ‘‘to adopt a con-
tribution schedule with terms consistent with the 
funding improvement plan and a schedule from the 
plan sponsor,’’, and 
(ii) by striking subparagraph (B) and inserting 
the following new subparagraph: 
‘‘(B) DATE OF IMPLEMENTATION.—The date specified in 
this subparagraph is the date which is 180 days after 
the date on which the collective bargaining agreement 
described in subparagraph (A) expires.’’, and 
(iii) by adding at the end the following new 
subparagraph: 
‘‘(C) FAILURE TO MAKE SCHEDULED CONTRIBUTIONS.— 
Any failure to make a contribution under a schedule of 
contribution rates provided under this paragraph shall be 
treated as a delinquent contribution under section 515 
and shall be enforceable as such.’’. 
(E) Section 305(e) of ERISA is amended— 
(i) in paragraph (3)(C)— 
(I) by striking all that follows ‘‘to adopt a’’ 
in clause (i)(II) and inserting ‘‘to adopt a contribu-
tion schedule with terms consistent with the 
rehabilitation plan and a schedule from the plan 
sponsor under paragraph (1)(B)(i),’’, 
(II) by striking clause (ii) and inserting the 
following new clause: 
‘‘(ii) DATE OF IMPLEMENTATION.—The date specified 
in this clause is the date which is 180 days after 
the date on which the collective bargaining agreement 
described in clause (i) expires.’’, and 
(III) by adding at the end the following new 
clause: 
‘‘(iii) FAILURE
TO
MAKE
SCHEDULED
CONTRIBU-
TIONS.—Any failure to make a contribution under a 
29 USC 1085. 
29 USC 1082. 
29 USC 1084 
note. 
26 USC 409A. 
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122 STAT. 5101 
PUBLIC LAW 110–458—DEC. 23, 2008 
schedule of contribution rates provided under this sub-
section shall be treated as a delinquent contribution 
under section 515 and shall be enforceable as such.’’, 
(ii) in paragraph (4)— 
(I) by striking ‘‘the date of’’ in subparagraph 
(A)(ii), and 
(II) by striking ‘‘and taking’’ in subparagraph 
(B) and inserting ‘‘but taking’’, 
(iii) in paragraph (6)— 
(I) by striking ‘‘paragraph (1)(B)(i)’’ and 
inserting ‘‘the last sentence of paragraph (1)’’, and 
(II) by striking ‘‘established’’ and inserting 
‘‘establish’’, 
(iv) in paragraph (8)(C)(iii)— 
(I) by striking ‘‘the Secretary’’ in subclause 
(I) and inserting ‘‘the Secretary of the Treasury, 
in consultation with the Secretary’’, and 
(II) by striking ‘‘Secretary’’ in the last sentence 
and inserting ‘‘Secretary of the Treasury’’, and 
(v) by striking ‘‘an employer’s withdrawal liability’’ 
in paragraph (9)(B) and inserting ‘‘the allocation of 
unfunded vested benefits to an employer’’. 
(F) Section 305(f)(2)(A)(i) of ERISA is amended by 
adding at the end the following: ‘‘to a participant or bene-
ficiary whose annuity starting date (as defined in section 
205(h)(2)) occurs after the date such notice is sent,’’. 
(G) Section 305(g) of ERISA is amended by inserting 
‘‘under subsection (c)’’ after ‘‘funding improvement plan’’ 
the first place it appears. 
(H) Section 502(c)(2) of ERISA is amended by striking 
‘‘101(b)(4)’’ and inserting ‘‘101(b)(1)’’. 
(I) Section 502(c)(8)(A) of ERISA is amended by 
inserting ‘‘plan’’ after ‘‘multiemployer’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 432(b)(3)(C) of the 1986 Code is amended 
by striking ‘‘section 101(b)(4)’’ and inserting ‘‘section 
101(b)(1)’’. 
(B) Section 432(b)(3)(D)(iii) of the 1986 Code is 
amended by striking ‘‘The Secretary of Labor’’ and inserting 
‘‘The Secretary, in consultation with the Secretary of 
Labor’’. 
(C) Section 432(c) of the 1986 Code is amended— 
(i) in paragraph (3), by striking ‘‘section 304(d)’’ 
in subparagraph (A)(ii) and inserting ‘‘section 431(d)’’, 
and 
(ii) in paragraph (7)— 
(I) by striking ‘‘to agree on’’ and all that follows 
in subparagraph (A)(ii) and inserting ‘‘to adopt 
a contribution schedule with terms consistent with 
the funding improvement plan and a schedule from 
the plan sponsor,’’, and 
(II) by striking subparagraph (B) and inserting 
the following new subparagraph: 
‘‘(B) DATE OF IMPLEMENTATION.—The date specified in 
this subparagraph is the date which is 180 days after 
the date on which the collective bargaining agreement 
described in subparagraph (A) expires.’’. 
26 USC 432. 
29 USC 1132. 
29 USC 1085. 
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122 STAT. 5102 
PUBLIC LAW 110–458—DEC. 23, 2008 
(D) Section 432(e) of the 1986 Code is amended— 
(i) in paragraph (3)(C)— 
(I) by striking all that follows ‘‘to adopt a’’ 
in clause (i)(II) and inserting ‘‘to adopt a contribu-
tion schedule with terms consistent with the 
rehabilitation plan and a schedule from the plan 
sponsor under paragraph (1)(B)(i),’’, and 
(II) by striking clause (ii) and inserting the 
following new clause: 
‘‘(ii) DATE OF IMPLEMENTATION.—The date specified 
in this clause is the date which is 180 days after 
the date on which the collective bargaining agreement 
described in clause (i) expires.’’, 
(ii) in paragraph (4)— 
(I) by striking ‘‘the date of’’ in subparagraph 
(A)(ii), and 
(II) by striking ‘‘and taking’’ in subparagraph 
(B) and inserting ‘‘but taking’’, 
(iii) in paragraph (6)— 
(I) by striking ‘‘paragraph (1)(B)(i)’’ and 
inserting ‘‘the last sentence of paragraph (1)’’, and 
(II) by striking ‘‘established’’ and inserting 
‘‘establish’’, 
(iv) in paragraph (8)— 
(I) by striking ‘‘section 204(g)’’ in subparagraph 
(A)(i) and inserting ‘‘section 411(d)(6)’’, 
(II) by inserting ‘‘of the Employee Retirement 
Income Security Act of 1974’’ after ‘‘4212(a)’’ in 
subparagraph (C)(i)(II), 
(III) by striking ‘‘the Secretary of Labor’’ in 
subparagraph (C)(iii)(I) and inserting ‘‘the Sec-
retary, in consultation with the Secretary of 
Labor’’, and 
(IV) by striking ‘‘the Secretary of Labor’’ in 
the last sentence of subparagraph (C)(iii) and 
inserting ‘‘the Secretary’’, and 
(v) by striking ‘‘an employer’s withdrawal liability’’ 
in paragraph (9)(B) and inserting ‘‘the allocation of 
unfunded vested benefits to an employer’’. 
(E) Section 432(f)(2)(A)(i) of the 1986 Code is 
amended— 
(i) by striking ‘‘section 411(b)(1)(A)’’ and inserting 
‘‘section 411(a)(9)’’; and 
(ii) by inserting at the end the following: ‘‘to a 
participant or beneficiary whose annuity starting date 
(as defined in section 417(f)(2)) occurs after the date 
such notice is sent,’’. 
(F) Section 432(g) of the 1986 Code is amended by 
inserting ‘‘under subsection (c)’’ after ‘‘funding improvement 
plan’’ the first place it appears. 
(G) Section 432(i) of the 1986 Code is amended— 
(i) by striking ‘‘section 412(a)’’ in paragraph (3) 
and inserting ‘‘section 431(a)’’, and 
(ii) by striking paragraph (9) and inserting the 
following new paragraph: 
‘‘(9) PLAN SPONSOR.—For purposes of this section, section 
431, and section 4971(g): 
26 USC 432. 
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122 STAT. 5103 
PUBLIC LAW 110–458—DEC. 23, 2008 
‘‘(A) IN GENERAL.—The term ‘plan sponsor’ means, with 
respect to any multiemployer plan, the association, com-
mittee, joint board of trustees, or other similar group of 
representatives of the parties who establish or maintain 
the plan. 
‘‘(B) SPECIAL RULE FOR SECTION 404(c) PLANS.—In the 
case of a plan described in section 404(c) (or a continuation 
of such plan), such term means the bargaining parties 
described in paragraph (1).’’. 
(H) Section 412(b)(3) of the 1986 Code is amended 
by striking ‘‘the plan adopts’’ and inserting ‘‘the plan 
sponsor adopts’’. 
(I) Section 4971(g)(4) of the 1986 Code is amended— 
(i) in subparagraph (B)(ii), by striking ‘‘first day 
of’’ and inserting ‘‘day following the close of’’, and 
(ii) by striking clause (ii) of subparagraph (C) and 
inserting the following new clause: 
‘‘(ii) PLAN SPONSOR.—For purposes of clause (i), 
the term ‘plan sponsor’ has the meaning given such 
term by section 432(i)(9).’’. 
(3) AMENDMENTS TO 2006 ACT.— 
(A) Section 212(b)(2) of the 2006 Act is amended by 
striking ‘‘Section 4971(c)(2) of such Code’’ and inserting 
‘‘Section 4971(e)(2) of such Code’’. 
(B) Section 212(e)(1) of the 2006 Act is amended by 
inserting ‘‘, except that the amendments made by sub-
section (b) shall apply to taxable years beginning after 
2007, but only with respect to plan years beginning after 
2007 which end with or within any such taxable year’’ 
before the period at the end. 
(C) Section 212(e)(2) of the 2006 Act is amended by 
striking ‘‘section 305(b)(3) of the Employee Retirement 
Income Security Act of 1974’’ and inserting ‘‘section 
432(b)(3) of the Internal Revenue Code of 1986’’. 
SEC. 103. AMENDMENTS RELATED TO TITLE III. 
(a) AMENDMENT RELATED TO SECTION 301.—Clause (ii) of sec-
tion 101(c)(2)(A) of the Pension Funding Equity Act of 2004, as 
amended by section 301(c) of the 2006 Act, is amended by striking 
‘‘2008’’ and inserting ‘‘2009’’. 
(b) AMENDMENTS RELATED TO SECTION 302.— 
(1) AMENDMENT TO ERISA.—Section 205(g)(3)(B)(iii)(II) of 
ERISA is amended by striking ‘‘section 205(g)(3)(B)(iii)(II)’’ and 
inserting ‘‘section 205(g)(3)(A)(ii)(II)’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 417(e)(3)(D)(i) of the 1986 Code is amended 
by striking ‘‘clause (ii)’’ and inserting ‘‘subparagraph (C)’’. 
(B)(i) Section 415(b)(2)(E)(v) of the 1986 Code is 
amended to read as follows: 
‘‘(v) For purposes of adjusting any benefit or limita-
tion under subparagraph (B), (C), or (D), the mortality 
table used shall be the applicable mortality table 
(within the meaning of section 417(e)(3)(B)).’’. 
(ii)(I) Except as provided in subclause (II), the amend-
ment made by clause (i) shall apply to years beginning 
after December 31, 2008. 
Effective date. 
26 USC 415 note. 
Applicability. 
26 USC 415. 
26 USC 417. 
29 USC 1055. 
26 USC 411 note. 
Applicability. 
26 USC 412 note. 
26 USC 4971. 
26 USC 4971. 
26 USC 412. 
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122 STAT. 5104 
PUBLIC LAW 110–458—DEC. 23, 2008 
(II) A plan sponsor may elect to have the amendment 
made by clause (i) apply to any year beginning after 
December 31, 2007, and before January 1, 2009, or to 
any portion of any such year. 
SEC. 104. AMENDMENTS RELATED TO TITLE IV. 
(a) 
AMENDMENT
RELATED
TO
SECTION
401.—Section 
4006(a)(3)(A)(i) of ERISA is amended by striking ‘‘1990’’ and 
inserting ‘‘2005’’. 
(b) AMENDMENT RELATED TO SECTION 402.—Section 402(c)(1)(A) 
of the 2006 Act is amended by striking ‘‘commercial airline’’ and 
inserting ‘‘commercial’’. 
(c) AMENDMENT RELATED
TO SECTION 408.—Section 4044(e) 
of ERISA, as added by section 408(b)(2) of the 2006 Act, is redesig-
nated as subsection (f). 
(d) 
AMENDMENTS
RELATED
TO
SECTION
409.—Section 
4041(b)(5)(A) of ERISA is amended by striking ‘‘subparagraph (B)’’ 
and inserting ‘‘subparagraphs (B) and (D)’’. 
(e) 
AMENDMENTS
RELATED
TO
SECTION
410.—Section 
4050(d)(4)(A) of ERISA is amended— 
(1) by striking ‘‘and’’ at the end of clause (i), and 
(2) by striking clause (ii) and inserting the following new 
clauses: 
‘‘(ii) which is not a plan described in paragraph 
(2), (3), (4), (6), (7), (8), (9), (10), or (11) of section 
4021(b), and 
‘‘(iii) which, was a plan described in section 401(a) 
of the Internal Revenue Code of 1986 which includes 
a trust exempt from tax under section 501(a) of such 
Code, and’’. 
SEC. 105. AMENDMENTS RELATED TO TITLE V. 
(a) 
AMENDMENT
RELATED
TO
SECTION
501.—Section 
101(f)(2)(B)(ii) of ERISA is amended— 
(1) by striking ‘‘for which the latest annual report filed 
under section 104(a) was filed’’ in subclause (I)(aa) and inserting 
‘‘to which the notice relates’’, and 
(2) by striking subclause (II) and inserting the following 
new subclause: 
‘‘(II) in the case of a multiemployer plan, a 
statement, for the plan year to which the notice 
relates and the preceding 2 plan years, of the 
value of the plan assets (determined both in the 
same manner as under section 304 and under the 
rules of subclause (I)(bb)) and the value of the 
plan liabilities (determined in the same manner 
as under section 304 except that the method speci-
fied in section 305(i)(8) shall be used),’’. 
(b) AMENDMENTS RELATED TO SECTION 502.— 
(1) Section 101(k)(2) of ERISA is amended by filing at 
the end the following new flush sentence: 
‘‘Subparagraph (C)(i) shall not apply to individually identifiable 
information with respect to any plan investment manager or 
adviser, or with respect to any other person (other than an 
employee of the plan) preparing a financial report required 
to be included under paragraph (1)(B).’’. 
29 USC 1021. 
29 USC 1350. 
29 USC 1341. 
29 USC 1344. 
26 USC 430 note. 
29 USC 1306. 
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122 STAT. 5105 
PUBLIC LAW 110–458—DEC. 23, 2008 
(2) Section 4221 of ERISA is amended by striking sub-
section (e) and by redesignating subsections (f) and (g) as sub-
sections (e) and (f), respectively. 
(c) AMENDMENTS RELATED TO SECTION 503.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 104(b)(3) of ERISA is amended by— 
(i) striking ‘‘section 103(f)’’ and inserting ‘‘section 
101(f)’’, and 
(ii) striking ‘‘the administrators’’ and inserting ‘‘the 
administrator’’. 
(B) Section 104(d)(1)(E)(ii) of ERISA is amended by 
inserting ‘‘funding’’ after ‘‘plan’s’’. 
(2) AMENDMENTS TO 2006 ACT.—Section 503(e) of the 2006 
Act is amended by striking ‘‘section 101(f)’’ and inserting ‘‘sec-
tion 104(d)’’. 
(d) 
AMENDMENT
RELATED
TO
SECTION
505.—Section 
4010(d)(2)(B) of ERISA is amended by striking ‘‘section 302(d)(2)’’ 
and inserting ‘‘section 303(d)(2)’’. 
(e) AMENDMENTS RELATED TO SECTION 506.— 
(1) Section 4041(c)(2)(D)(i) of ERISA is amended by striking 
‘‘subsection (a)(2)’’ the second place it appears and inserting 
‘‘subparagraph (A) or the regulations under subsection (a)(2)’’. 
(2) Section 4042(c)(3)(C)(i) of ERISA is amended— 
(A) by striking ‘‘and plan sponsor’’ and inserting ‘‘, 
the plan sponsor, or the corporation’’, and 
(B) by striking ‘‘subparagraph (A)(i)’’ and inserting 
‘‘subparagraph (A)’’. 
(f) AMENDMENTS RELATED TO SECTION 508.—Section 209(a) of 
ERISA is amended— 
(1) in paragraph (1)— 
(A) by striking ‘‘regulations prescribed by the Sec-
retary’’ and inserting ‘‘such regulations as the Secretary 
may prescribe’’, and 
(B) by striking the last sentence and inserting ‘‘The 
report required under this paragraph shall be in the same 
form, and contain the same information, as periodic benefit 
statements under section 105(a).’’, and 
(2) by striking paragraph (2) and inserting the following: 
‘‘(2) If more than one employer adopts a plan, each such 
employer shall furnish to the plan administrator the informa-
tion necessary for the administrator to maintain the records, 
and make the reports, required by paragraph (1). Such adminis-
trator shall maintain the records, and make the reports, 
required by paragraph (1).’’. 
(g) AMENDMENT RELATED TO SECTION 509.—Section 101(i)(8)(B) 
of ERISA is amended to read as follows: 
‘‘(B) ONE-PARTICIPANT
RETIREMENT
PLAN.—For pur-
poses of subparagraph (A), the term ‘one-participant retire-
ment plan’ means a retirement plan that on the first day 
of the plan year— 
‘‘(i) covered only one individual (or the individual 
and the individual’s spouse) and the individual (or 
the individual and the individual’s spouse) owned 100 
percent of the plan sponsor (whether or not incor-
porated), or 
‘‘(ii) covered only one or more partners (or partners 
and their spouses) in the plan sponsor.’’. 
29 USC 1021. 
Records. 
Reports. 
29 USC 1059. 
29 USC 1342. 
29 USC 1341. 
29 USC 1310. 
29 USC 1021 
note. 
29 USC 1024. 
29 USC 1401. 
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122 STAT. 5106 
PUBLIC LAW 110–458—DEC. 23, 2008 
SEC. 106. AMENDMENTS RELATED TO TITLE VI. 
(a) AMENDMENTS RELATED TO SECTION 601.— 
(1) AMENDMENTS TO ERISA.— 
(A) Section 408(g)(3)(D)(ii) of ERISA is amended by 
striking ‘‘subsection (b)(14)(B)(ii)’’ and inserting ‘‘subsection 
(b)(14)(A)(ii)’’. 
(B) Section 408(g)(6)(A)(i) of ERISA is amended by 
striking 
‘‘financial 
adviser’’ 
and 
inserting 
‘‘fiduciary 
adviser’’. 
(C) Section 408(g)(11)(A) of ERISA is amended— 
(i) by striking ‘‘the participant’’ each place it 
appears and inserting ‘‘a participant’’, and 
(ii) by striking ‘‘section 408(b)(4)’’ in clause (ii) 
and inserting ‘‘subsection (b)(4)’’. 
(2) AMENDMENTS TO 1986 CODE.— 
(A) Section 4975(d)(17) of the 1986 Code, in the matter 
preceding subparagraph (A), is amended by striking ‘‘and 
that permits’’ and inserting ‘‘that permits’’. 
(B) Section 4975(f)(8) of the 1986 Code is amended— 
(i) in subparagraph (A), by striking ‘‘subsection 
(b)(14)’’ and inserting ‘‘subsection (d)(17)’’, 
(ii) in subparagraph (C)(iv)(II), by striking ‘‘sub-
section (b)(14)(B)(ii)’’ and inserting ‘‘(d)(17)(A)(ii)’’, 
(iii) in subparagraph (F)(i)(I), by striking ‘‘financial 
adviser’’ and inserting ‘‘fiduciary adviser,’’, 
(iv) in subparagraph (I), by striking ‘‘section 406’’ 
and inserting ‘‘subsection (c)’’, and 
(v) in subparagraph (J)(i)— 
(I) by striking ‘‘the participant’’ each place it 
appears and inserting ‘‘a participant’’, 
(II) in the matter preceding subclause (I), by 
inserting ‘‘referred to in subsection (e)(3)(B)’’ after 
‘‘investment advice’’, and 
(III) in subclause (II), by striking ‘‘section 
408(b)(4)’’ and inserting ‘‘subsection (d)(4)’’. 
(3) AMENDMENT TO 2006 ACT.—Section 601(b)(4) of the 2006 
Act is amended by striking ‘‘section 4975(c)(3)(B)’’ and inserting 
‘‘section 4975(e)(3)(B)’’. 
(b) AMENDMENTS RELATED TO SECTION 611.— 
(1) AMENDMENT TO ERISA.—Section 408(b)(18)(C) of ERISA 
is amended by striking ‘‘or less’’. 
(2) AMENDMENTS
TO
1986
CODE.—Section 4975(d) of the 
1986 Code is amended— 
(A) in the matter preceding subparagraph (A) of para-
graph (18)— 
(i) by striking ‘‘party in interest’’ and inserting 
‘‘disqualified person’’, and 
(ii) by striking ‘‘subsection (e)(3)(B)’’ and inserting 
‘‘subsection (e)(3)’’, 
(B) in paragraphs (19), (20), and (21), by striking ‘‘party 
in interest’’ each place it appears and inserting ‘‘disqualified 
person’’, and 
(C) by striking ‘‘or less’’ in paragraph (21)(C). 
(c) 
AMENDMENTS
RELATED
TO
SECTION
612.—Section 
4975(f)(11)(B)(i) of the 1986 Code is amended by— 
(1) inserting ‘‘of the Employee Retirement Income Security 
Act of 1974’’ after ‘‘section 407(d)(1)’’, and 
26 USC 4975. 
29 USC 1108. 
26 USC 4975 
note. 
26 USC 4975. 
29 USC 1108. 
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122 STAT. 5107 
PUBLIC LAW 110–458—DEC. 23, 2008 
(2) inserting ‘‘of such Act’’ after ‘‘section 407(d)(2)’’. 
(d) AMENDMENTS RELATED TO SECTION 624.—Section 404(c)(5) 
of ERISA is amended by striking ‘‘participant’’ each place it appears 
and inserting ‘‘participant or beneficiary’’. 
SEC. 107. AMENDMENTS RELATED TO TITLE VII. 
(a) AMENDMENTS TO ERISA.— 
(1) Section 203(f)(1)(B) of ERISA is amended to read as 
follows: 
‘‘(B) the requirements of section 204(c) or 205(g), or 
the requirements of subsection (e), with respect to accrued 
benefits derived from employer contributions,’’. 
(2) Section 204(b)(5) of ERISA is amended— 
(A) by striking ‘‘clause’’ in subparagraph (A)(iii) and 
inserting ‘‘subparagraph’’, and 
(B) by inserting ‘‘otherwise’’ before ‘‘allowable’’ in 
subparagraph (C). 
(3) Subclause (II) of section 204(b)(5)(B)(i) of ERISA is 
amended to read as follows: 
‘‘(II) 
PRESERVATION
OF
CAPITAL.—An 
applicable defined benefit plan shall be treated 
as failing to meet the requirements of paragraph 
(1)(H) unless the plan provides that an interest 
credit (or equivalent amount) of less than zero 
shall in no event result in the account balance 
or similar amount being less than the aggregate 
amount of contributions credited to the account.’’. 
(b) AMENDMENTS TO 1986 CODE.— 
(1) Section 411(b)(5) of the 1986 Code is amended— 
(A) by striking ‘‘clause’’ in subparagraph (A)(iii) and 
inserting ‘‘subparagraph’’, and 
(B) by inserting ‘‘otherwise’’ before ‘‘allowable’’ in 
subparagraph (C). 
(2) Section 411(a)(13)(A) of the 1986 Code is amended— 
(A) by striking ‘‘paragraph (2)’’ in clause (i) and 
inserting ‘‘subparagraph (B)’’, 
(B) by striking clause (ii) and inserting the following 
new clause: 
‘‘(ii) the requirements of subsection (a)(11) or (c), 
or the requirements of section 417(e), with respect 
to accrued benefits derived from employer contribu-
tions,’’, and 
(C) by striking ‘‘paragraph (3)’’ in the matter following 
clause (ii) and inserting ‘‘subparagraph (C)’’. 
(3) Subclause (II) of section 411(b)(5)(B)(i) of the 1986 Code 
is amended to read as follows: 
‘‘(II) 
PRESERVATION
OF
CAPITAL.—An 
applicable defined benefit plan shall be treated 
as failing to meet the requirements of paragraph 
(1)(H) unless the plan provides that an interest 
credit (or equivalent amount) of less than zero 
shall in no event result in the account balance 
or similar amount being less than the aggregate 
amount of contributions credited to the account.’’. 
(c) AMENDMENTS TO 2006 ACT.— 
(1) Section 701(d)(2) of the 2006 Act is amended by striking 
‘‘204(g)’’ and inserting ‘‘205(g)’’. 
26 USC 411 note. 
26 USC 411. 
29 USC 1054. 
29 USC 1053. 
29 USC 1104. 
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122 STAT. 5108 
PUBLIC LAW 110–458—DEC. 23, 2008 
(2) Section 701(e) of the 2006 Act is amended— 
(A) by inserting ‘‘on or’’ after ‘‘period’’ in paragraph 
(3), 
(B) in paragraph (4)— 
(i) by inserting ‘‘the earlier of’’ after ‘‘before’’ in 
the matter preceding subparagraph (A), and 
(ii) by striking ‘‘earlier’’ and inserting ‘‘later’’ in 
subparagraph (A), 
(C) by inserting ‘‘on or’’ before ‘‘after’’ each place it 
appears in paragraph (5), and 
(D) by adding at the end the following new paragraph: 
‘‘(6) SPECIAL
RULE
FOR
VESTING
REQUIREMENTS.—The 
requirements of section 203(f)(2) of the Employee Retirement 
Income Security Act of 1974 and section 411(a)(13)(B) of the 
Internal Revenue Code of 1986 (as added by this Act)— 
‘‘(A) shall not apply to a participant who does not 
have an hour of service after the effective date of such 
requirements (as otherwise determined under this sub-
section); and 
‘‘(B) in the case of a plan other than a plan described 
in paragraph (3) or (4), shall apply to plan years ending 
on or after June 29, 2005.’’. 
SEC. 108. AMENDMENTS RELATED TO TITLE VIII. 
(a) AMENDMENTS RELATED TO SECTION 801.— 
(1) Section 404(o) of the 1986 Code is amended— 
(A) by striking ‘‘430(g)(2)’’ in paragraph (2)(A)(ii) and 
inserting ‘‘430(g)(3)’’, and 
(B) by striking ‘‘412(f)(4)’’ in paragraph (4)(B) and 
inserting ‘‘412(d)(3)’’. 
(2) Section 404(a)(7)(A) of the 1986 Code is amended— 
(A) by striking the next to last sentence, and 
(B) by striking ‘‘the plan’s funding shortfall determined 
under section 430’’ in the last sentence and inserting ‘‘the 
excess (if any) of the plan’s funding target (as defined 
in section 430(d)(1)) over the value of the plan’s assets 
(as determined under section 430(g)(3))’’. 
(b) 
AMENDMENT
RELATED
TO
SECTION
802.—Section 
404(a)(1)(D)(i) of the 1986 Code is amended by striking ‘‘431(c)(6)(C)’’ 
and inserting ‘‘431(c)(6)(D)’’. 
(c) AMENDMENT RELATED TO SECTION 803.—Clause (iii) of sec-
tion 404(a)(7)(C) of the 1986 Code is amended to read as follows: 
‘‘(iii) LIMITATION.—In the case of employer con-
tributions to 1 or more defined contribution plans— 
‘‘(I) if such contributions do not exceed 6 per-
cent of the compensation otherwise paid or accrued 
during the taxable year to the beneficiaries under 
such plans, this paragraph shall not apply to such 
contributions or to employer contributions to the 
defined benefit plans to which this paragraph 
would otherwise apply by reason of contributions 
to the defined contribution plans, and 
‘‘(II) if such contributions exceed 6 percent 
of such compensation, this paragraph shall be 
applied by only taking into account such contribu-
tions to the extent of such excess. 
Applicability. 
26 USC 404. 
Applicability. 
26 USC 411. 
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122 STAT. 5109 
PUBLIC LAW 110–458—DEC. 23, 2008 
For purposes of this clause, amounts carried over from 
preceding taxable years under subparagraph (B) shall 
be treated as employer contributions to 1 or more 
defined contributions plans to the extent attributable 
to employer contributions to such plans in such pre-
ceding taxable years.’’. 
(d) AMENDMENTS RELATED TO SECTION 824.— 
(1) Section 408A(c)(3)(B) of the 1986 Code, as in effect 
after the amendments made by section 824(b)(1) of the 2006 
Act, is amended— 
(A) by striking the second ‘‘an’’ before ‘‘eligible’’, 
(B) by striking ‘‘other than a Roth IRA’’, and 
(C) by adding at the end the following new flush sen-
tence: 
‘‘This subparagraph shall not apply to a qualified rollover 
contribution from a Roth IRA or to a qualified rollover 
contribution from a designated Roth account which is a 
rollover contribution described in section 402A(c)(3)(A).’’ 
(2) Section 408A(d)(3)(B), as in effect after the amendments 
made by section 824(b)(2)(B) of the 2006 Act, is amended by 
striking ‘‘(other than a Roth IRA)’’ and by inserting at the 
end the following new sentence: ‘‘This paragraph shall not 
apply to a distribution which is a qualified rollover contribution 
from a Roth IRA or a qualified rollover contribution from a 
designated Roth account which is a rollover contribution 
described in section 402A(c)(3)(A)’’. 
(e) AMENDMENT TO SECTION 827.—The first sentence of section 
72(t)(2)(G)(iv) of the 1986 Code is amended by inserting ‘‘on or’’ 
before ‘‘before’’. 
(f) AMENDMENTS RELATED TO SECTION 829.— 
(1) Section 402(c)(11) of the 1986 Code is amended— 
(A) by inserting ‘‘described in paragraph (8)(B)(iii)’’ 
after ‘‘eligible retirement plan’’ in subparagraph (A), and 
(B) by striking ‘‘trust’’ before ‘‘designated beneficiary’’ 
in subparagraph (B). 
(2)(A) Section 402(f)(2)(A) of the 1986 Code is amended 
by adding at the end the following new sentence: ‘‘Such term 
shall include any distribution to a designated beneficiary which 
would be treated as an eligible rollover distribution by reason 
of subsection (c)(11), or section 403(a)(4)(B), 403(b)(8)(B), or 
457(e)(16)(B), if the requirements of subsection (c)(11) were 
satisfied.’’ 
(B) Clause (i) of section 402(c)(11)(A) of the 1986 Code 
is amended by striking ‘‘for purposes of this subsection’’. 
(C) The amendments made by this paragraph shall apply 
with respect to plan years beginning after December 31, 2009. 
(g) AMENDMENT RELATED TO SECTION 832.—Section 415(f) of 
the 1986 Code is amended by striking paragraph (2) and by redesig-
nating paragraph (3) as paragraph (2). 
(h) AMENDMENTS RELATED TO SECTION 833.— 
(1) Section 408A(c)(3)(C) of the 1986 Code, as added by 
section 833(c) of the 2006 Act, is redesignated as subparagraph 
(E). 
(2) In the case of taxable years beginning after December 
31, 2009, section 408A(c)(3)(E) of the 1986 Code (as redesig-
nated by paragraph (1))— 
(A) is redesignated as subparagraph (D), and 
26 USC 415. 
Effective date. 
26 USC 402 note. 
26 USC 402. 
26 USC 72. 
26 USC 408A. 
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122 STAT. 5110 
PUBLIC LAW 110–458—DEC. 23, 2008 
(B) is amended by striking ‘‘subparagraph (C)(ii)’’ and 
inserting ‘‘subparagraph (B)(ii)’’. 
(i) AMENDMENTS RELATED TO SECTION 841.— 
(1) Section 420(c)(1)(A) of the 1986 Code is amended by 
adding at the end the following new sentence: ‘‘In the case 
of a qualified future transfer or collectively bargained transfer 
to which subsection (f) applies, any assets so transferred may 
also be used to pay liabilities described in subsection (f)(2)(C).’’ 
(2) Section 420(f)(2) of the 1986 Code is amended by 
striking ‘‘such’’ before ‘‘the applicable’’ in subparagraph (D)(i)(I). 
(3) Section 4980(c)(2)(B) of the 1986 Code is amended by 
striking ‘‘or’’ at the end of clause (i), by striking the period 
at the end of clause (ii) and inserting ‘‘, or’’, and by adding 
at the end the following new clause: 
‘‘(iii) 
any 
transfer 
described 
in 
section 
420(f)(2)(B)(ii)(II).’’. 
(j) AMENDMENTS RELATED TO SECTION 845.— 
(1) Subsection (l) of section 402 of the 1986 Code is 
amended— 
(A) in paragraph (1)— 
(i) by inserting ‘‘maintained by the employer 
described in paragraph (4)(B)’’ after ‘‘an eligible retire-
ment plan’’, and 
(ii) by striking ‘‘of the employee, his spouse, or 
dependents (as defined in section 152)’’ , 
(B) in paragraph (4)(D), by— 
(i) inserting ‘‘(as defined in section 152)’’ after 
‘‘dependents’’, and 
(ii) striking ‘‘health insurance plan’’ and inserting 
‘‘health plan’’, and 
(C) in paragraph (5)(A), by striking ‘‘health insurance 
plan’’ and inserting ‘‘health plan’’. 
(2) Subparagraph (B) of section 402(l)(3) of the 1986 Code 
is amended by striking ‘‘all amounts distributed from all eligible 
retirement plans were treated as 1 contract for purposes of 
determining the inclusion of such distribution under section 
72’’ and inserting ‘‘all amounts to the credit of the eligible 
public safety officer in all eligible retirement plans maintained 
by the employer described in paragraph (4)(B) were distributed 
during such taxable year and all such plans were treated as 
1 contract for purposes of determining under section 72 the 
aggregate amount which would have been so includible’’. 
(k) AMENDMENTS RELATED TO SECTION 854.— 
(1) Section 3121(b)(5)(E) of the 1986 Code is amended by 
striking ‘‘or special trial judge’’. 
(2) Section 210(a)(5)(E) of the Social Security Act is 
amended by striking ‘‘or special trial judge’’. 
(l) AMENDMENTS RELATED
TO SECTION 856.—Section 856 of 
the 2006 Act, and the amendments made by such section, are 
hereby repealed, and the Internal Revenue Code of 1986 shall 
be applied and administered as if such sections and amendments 
had not been enacted. 
(m) AMENDMENT RELATED
TO SECTION 864.—Section 864(a) 
of the 2006 Act is amended by striking ‘‘Reconciliation’’. 
26 USC 3401 
note. 
26 USC 7443B 
and note. 
Applicability. 
42 USC 410. 
26 USC 3121. 
26 USC 402. 
26 USC 4980. 
26 USC 420. 
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122 STAT. 5111 
PUBLIC LAW 110–458—DEC. 23, 2008 
SEC. 109. AMENDMENTS RELATED TO TITLE IX. 
(a) 
AMENDMENT
RELATED
TO
SECTION
901.—Section 
401(a)(35)(E)(iv) of the 1986 Code is amended to read as follows: 
‘‘(iv) ONE-PARTICIPANT
RETIREMENT
PLAN.—For 
purposes of clause (iii), the term ‘one-participant retire-
ment plan’ means a retirement plan that on the first 
day of the plan year— 
‘‘(I) covered only one individual (or the indi-
vidual and the individual’s spouse) and the indi-
vidual (or the individual and the individual’s 
spouse) owned 100 percent of the plan sponsor 
(whether or not incorporated), or 
‘‘(II) covered only one or more partners (or 
partners and their spouses) in the plan sponsor.’’. 
(b) AMENDMENTS RELATED TO SECTION 902.— 
(1) Section 401(k)(13)(D)(i)(I) of the 1986 Code is amended 
by striking ‘‘such compensation as exceeds 1 percent but does 
not’’ and inserting ‘‘such contributions as exceed 1 percent 
but do not’’. 
(2) Sections 401(k)(8)(E) and 411(a)(3)(G) of the 1986 Code 
are each amended— 
(A) by striking ‘‘an erroneous automatic contribution’’ 
and inserting ‘‘a permissible withdrawal’’, and 
(B) by striking ‘‘ERRONEOUS AUTOMATIC CONTRIBUTION’’ 
in the heading and inserting ‘‘PERMISSIBLE WITHDRAWAL’’. 
(3) Section 402(g)(2)(A)(ii) of the 1986 Code is amended 
by inserting ‘‘through the end of such taxable year’’ after ‘‘such 
amount’’. 
(4) Section 414(w)(3) of the 1986 Code is amended— 
(A) in subparagraph (B), by inserting ‘‘and’’ after the 
comma at the end, 
(B) by striking subparagraph (C), and 
(C) by redesignating subparagraph (D) as subpara-
graph (C). 
(5) Section 414(w)(5) of the 1986 Code is amended by 
striking ‘‘and’’ at the end of subparagraph (B), by striking 
the period at the end of subparagraph (C) and inserting a 
comma, and by adding at the end the following: 
‘‘(D) a simplified employee pension the terms of which 
provide for a salary reduction arrangement described in 
section 408(k)(6), and 
‘‘(E) a simple retirement account (as defined in section 
408(p)).’’. 
(6) Section 414(w)(6) of the 1986 Code is amended by 
inserting ‘‘or for purposes of applying the limitation under 
section 402(g)(1)’’ before the period at the end. 
(c) AMENDMENTS RELATED TO SECTION 903.— 
(1) AMENDMENT OF 1986 CODE.—Section 414(x)(1) of the 
1986 Code is amended by adding at the end of paragraph 
(1) the following new sentence: ‘‘In the case of a termination 
of the defined benefit plan and the applicable defined contribu-
tion plan forming part of an eligible combined plan, the plan 
administrator shall terminate each such plan separately.’’ 
(2) AMENDMENTS OF ERISA.—Section 210(e) of ERISA is 
amended— 
(A) by adding at the end of paragraph (1) the following 
new sentence: ‘‘In the case of a termination of the defined 
29 USC 1060. 
26 USC 414. 
26 USC 402. 
26 USC 411. 
26 USC 401. 
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122 STAT. 5112 
PUBLIC LAW 110–458—DEC. 23, 2008 
benefit plan and the applicable defined contribution plan 
forming part of an eligible combined plan, the plan adminis-
trator shall terminate each such plan separately.’’, and 
(B) by striking paragraph (3) and by redesignating 
paragraphs (4), (5), and (6) as paragraphs (3), (4), and 
(5), respectively. 
(d) AMENDMENTS RELATED TO SECTION 906.— 
(1) Section 906(b)(1)(B)(ii) of the 2006 Act is amended by 
striking ‘‘paragraph (1)’’ and inserting ‘‘paragraph (10)’’. 
(2) Section 4021(b) of ERISA is amended by inserting ‘‘or’’ 
at the end of paragraph (12), by striking ‘‘; or’’ at the end 
of paragraph (13) and inserting a period, and by striking para-
graph (14). 
SEC. 110. AMENDMENTS RELATED TO TITLE X. 
(a) AMENDMENTS TO RAILROAD RETIREMENT ACT.— 
(1) Section 14(b) of the Railroad Retirement Act of 1974 
(45 U.S.C. 231m(b)) is amended by adding at the end the 
following: 
‘‘(3)(A) Payments made pursuant to paragraph (2) of this 
subsection shall not require that the employee be entitled to 
an annuity under section 2(a)(1) of this Act: Provided, however, 
That where an employee is not entitled to such an annuity, 
payments made pursuant to paragraph (2) may not begin before 
the month in which the following three conditions are satisfied: 
‘‘(i) The employee has completed ten years of service 
in the railroad industry or, five years of service all of 
which accrues after December 31, 1995. 
‘‘(ii) The spouse or former spouse attains age 62. 
‘‘(iii) The employee attains age 62 (or if deceased, would 
have attained age 62). 
‘‘(B) Payments made pursuant to paragraph (2) of this 
subsection shall terminate upon the death of the spouse or 
former spouse, unless the court document provides for termi-
nation at an earlier date. Notwithstanding the language in 
a court order, that portion of payments made pursuant to 
paragraph (2) which represents payments computed pursuant 
to section 3(f)(2) of this Act shall not be paid after the death 
of the employee. 
‘‘(C) If the employee is not entitled to an annuity under 
section 2(a)(1) of this Act, payments made pursuant to para-
graph (2) of this subsection shall be computed as though the 
employee were entitled to an annuity.’’. 
(2) Subsection (d) of section 5 of the Railroad Retirement 
Act (45 U.S.C. 231d) is repealed. 
(b) EFFECTIVE DATES.— 
(1) SUBSECTION (a)(1).—The amendment made by sub-
section (a)(1) shall apply with respect to payments due for 
months after August 2007. If, prior to the effective date of 
such amendment, payment pursuant to paragraph (2) of section 
14(b) of the Railroad Retirement Act of 1974 (45 U.S.C. 
231m(b)) was terminated because of the employee’s death, pay-
ment to the former spouse may be reinstated for months after 
August 2007. 
(2) SUBSECTION (a)(2).—The amendment made by sub-
section (a)(2) shall take effect upon the date of the enactment 
of this Act. 
45 USC 231d 
note. 
45 USC 231m 
note. 
29 USC 1321. 
26 USC 415. 
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122 STAT. 5113 
PUBLIC LAW 110–458—DEC. 23, 2008 
SEC. 111. AMENDMENTS RELATED TO TITLE XI. 
(a) AMENDMENT RELATED TO SECTION 1104.—Section 1104(d)(1) 
of the 2006 Act is amended by striking ‘‘Act’’ the first place it 
appears and inserting ‘‘section’’. 
(b) AMENDMENTS RELATED TO SECTION 1105.—Section 3304(a) 
of the 1986 Code is amended— 
(1) in paragraph (15)— 
(A) by redesignating clauses (i) and (ii) of subparagraph 
(A) as subclauses (I) and (II), 
(B) by redesignating subparagraphs (A) and (B) as 
clauses (i) and (ii), 
(C) by striking the semicolon at the end of clause 
(ii) (as so redesignated) and inserting ‘‘, and’’, 
(D) by striking ‘‘(15)’’ and inserting ‘‘(15)(A) subject 
to subparagraph (B),’’, and 
(E) by adding at the end the following: 
‘‘(B) the amount of compensation shall not be reduced 
on account of any payments of governmental or other pen-
sions, retirement or retired pay, annuity, or other similar 
payments which are not includible in the gross income 
of the individual for the taxable year in which it was 
paid because it was part of a rollover distribution;’’, and 
(2) by striking the last sentence. 
(c) AMENDMENTS RELATED TO SECTION 1106.—Section 3(37)(G) 
of ERISA is amended by— 
(1) striking ‘‘paragraph’’ each place it appears in clauses 
(ii), (iii), and (v)(I) and inserting ‘‘subparagraph’’, 
(2) striking ‘‘subclause (i)(II)’’ in clause (iii) and inserting 
‘‘clause (i)(II)’’, 
(3) striking ‘‘subparagraph’’ in clause (v)(II) and inserting 
‘‘clause’’, and 
(4) by striking ‘‘section 101(b)(4)’’ in clause (v)(III) and 
inserting ‘‘section 101(b)(1)’’. 
SEC. 112. EFFECTIVE DATE. 
Except as otherwise provided in this subtitle, the amendments 
made by this subtitle shall take effect as if included in the provisions 
of the 2006 Act to which the amendments relate. 
Subtitle B—Other Provisions 
SEC. 121. AMENDMENTS RELATED TO SECTIONS 102 AND 112 OF THE 
PENSION PROTECTION ACT OF 2006. 
(a) AMENDMENT
OF ERISA.—The last sentence of section 
303(g)(3)(B) of ERISA is amended to read as follows: ‘‘Any such 
averaging shall be adjusted for contributions, distributions, and 
expected earnings (as determined by the plan’s actuary on the 
basis of an assumed earnings rate specified by the actuary but 
not in excess of the third segment rate applicable under subsection 
(h)(2)(C)(iii)), as specified by the Secretary of the Treasury.’’. 
(b) AMENDMENT OF 1986 CODE.—The last sentence of section 
430(g)(3)(B) of the 1986 Code is amended to read as follows: ‘‘Any 
such averaging shall be adjusted for contributions, distributions, 
and expected earnings (as determined by the plan’s actuary on 
the basis of an assumed earnings rate specified by the actuary 
26 USC 430. 
29 USC 1083. 
26 USC 72 note. 
29 USC 1002. 
26 USC 3304. 
26 USC 457 note. 
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122 STAT. 5114 
PUBLIC LAW 110–458—DEC. 23, 2008 
but not in excess of the third segment rate applicable under sub-
section (h)(2)(C)(iii)), as specified by the Secretary.’’. 
(c) EFFECTIVE DATE.—The amendments made by this section 
shall take effect as if included in the provisions of the 2006 Act 
to which the amendments relate. 
SEC. 122. MODIFICATION OF INTEREST RATE ASSUMPTION REQUIRED 
WITH RESPECT TO CERTAIN SMALL EMPLOYER PLANS. 
(a) IN GENERAL.—Subparagraph (E) of section 415(b)(2) of the 
1986 Code (relating to limitation on certain assumptions) is 
amended by adding at the end the following new clause: 
‘‘(vi) In the case of a plan maintained by an eligible 
employer (as defined in section 408(p)(2)(C)(i)), clause 
(ii) shall be applied without regard to subclause (II) 
thereof.’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to years beginning after December 31, 2008. 
SEC. 123. DETERMINATION OF MARKET RATE OF RETURN FOR 
GOVERNMENTAL PLANS. 
(a) AMENDMENT OF ADEA.—Section 4(i)(10)(B)(i)(III) of the Age 
Discrimination 
in 
Employment 
Act 
of 
1967 
(29 
U.S.C. 
623(i)(10)(B)(i)(III)) is amended by adding at the end the following: 
‘‘In the case of a governmental plan (as defined in the first sentence 
of section 414(d) of the Internal Revenue Code of 1986), a rate 
of return or a method of crediting interest established pursuant 
to any provision of Federal, State, or local law (including any 
administrative rule or policy adopted in accordance with any such 
law) shall be treated as a market rate of return for purposes 
of subclause (I) and a permissible method of crediting interest 
for purposes of meeting the requirements of subclause (I), except 
that this sentence shall only apply to a rate of return or method 
of crediting interest if such rate or method does not violate any 
other requirement of this Act.’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall take effect as if included in the provisions of the Pension 
Protection Act of 2006 to which such amendment relates. 
SEC. 124. TREATMENT OF CERTAIN REIMBURSEMENTS FROM GOVERN-
MENTAL PLANS FOR MEDICAL CARE. 
(a) IN GENERAL.—Section 105 of the 1986 Code (relating to 
amounts received under accident and health plans) is amended 
by adding at the end the following new subsection: 
‘‘(j) SPECIAL RULE FOR CERTAIN GOVERNMENTAL PLANS.— 
‘‘(1) IN GENERAL.—For purposes of subsection (b), amounts 
paid (directly or indirectly) to the taxpayer from an accident 
or health plan described in paragraph (2) shall not fail to 
be excluded from gross income solely because such plan, on 
or before January 1, 2008, provides for reimbursements of 
health care expenses of a deceased plan participant’s bene-
ficiary. 
‘‘(2) PLAN
DESCRIBED.—An accident or health plan is 
described in this paragraph if such plan is funded by a medical 
trust that is established in connection with a public retirement 
system and that— 
‘‘(A) has been authorized by a State legislature, or 
26 USC 105. 
29 USC 623 note. 
Applicability. 
26 USC 415 note. 
Applicability. 
26 USC 415. 
26 USC 430 note. 
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122 STAT. 5115 
PUBLIC LAW 110–458—DEC. 23, 2008 
‘‘(B) has received a favorable ruling from the Internal 
Revenue Service that the trust’s income is not includible 
in gross income under section 115.’’. 
(b) EFFECTIVE DATE.—The amendment made by subsection (a) 
shall apply to payments before, on, or after the date of the enact-
ment of this Act. 
SEC. 125. ROLLOVER OF AMOUNTS RECEIVED IN AIRLINE CARRIER 
BANKRUPTCY TO ROTH IRAS. 
(a) GENERAL RULE.—If a qualified airline employee receives 
any airline payment amount and transfers any portion of such 
amount to a Roth IRA within 180 days of receipt of such amount 
(or, if later, within 180 days of the date of the enactment of 
this Act), then such amount (to the extent so transferred) shall 
be treated as a qualified rollover contribution described in section 
408A(e) of the Internal Revenue Code of 1986, and the limitations 
described in section 408A(c)(3) of such Code shall not apply to 
any such transfer. 
(b) DEFINITIONS
AND SPECIAL RULES.—For purposes of this 
section— 
(1) AIRLINE PAYMENT AMOUNT.— 
(A) IN GENERAL.—The term ‘‘airline payment amount’’ 
means any payment of any money or other property which 
is payable by a commercial passenger airline carrier to 
a qualified airline employee— 
(i) under the approval of an order of a Federal 
bankruptcy court in a case filed after September 11, 
2001, and before January 1, 2007, and 
(ii) in respect of the qualified airline employee’s 
interest in a bankruptcy claim against the carrier, 
any note of the carrier (or amount paid in lieu of 
a note being issued), or any other fixed obligation 
of the carrier to pay a lump sum amount. 
The amount of such payment shall be determined without 
regard to any requirement to deduct and withhold tax 
from such payment under sections 3102(a) and 3402(a). 
(B) EXCEPTION.—An airline payment amount shall not 
include any amount payable on the basis of the carrier’s 
future earnings or profits. 
(2) QUALIFIED AIRLINE EMPLOYEE.—The term ‘‘qualified air-
line employee’’ means an employee or former employee of a 
commercial passenger airline carrier who was a participant 
in a defined benefit plan maintained by the carrier which— 
(A) is a plan described in section 401(a) of the Internal 
Revenue Code of 1986 which includes a trust exempt from 
tax under section 501(a) of such Code, and 
(B) was terminated or became subject to the restric-
tions contained in paragraphs (2) and (3) of section 402(b) 
of the Pension Protection Act of 2006. 
(3) REPORTING REQUIREMENTS.—If a commercial passenger 
airline carrier pays 1 or more airline payment amounts, the 
carrier shall, within 90 days of such payment (or, if later, 
within 90 days of the date of the enactment of this Act), 
report— 
(A) to the Secretary of the Treasury, the names of 
the qualified airline employees to whom such amounts 
were paid, and 
Deadlines. 
26 USC 408A 
note. 
26 USC 105 note. 
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122 STAT. 5116 
PUBLIC LAW 110–458—DEC. 23, 2008 
(B) to the Secretary and to such employees, the years 
and the amounts of the payments. 
Such reports shall be in such form, and contain such additional 
information, as the Secretary may prescribe. 
(c) EFFECTIVE DATE.—This section shall apply to transfers made 
after the date of the enactment of this Act with respect to airline 
payment amounts paid before, on, or after such date. 
SEC. 126. DETERMINATION OF ASSET VALUE FOR SPECIAL AIRLINE 
FUNDING RULES. 
(a) IN GENERAL.—Section 402(e)(4)(C) of the 2006 Act is 
amended to read as follows: 
‘‘(C) the value of plan assets shall be determined under 
sections 303(g)(3) of such Act and 430(g)(3) of such Code.’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall apply to plan years beginning after December 31, 2007. 
SEC. 127. MODIFICATION OF PENALTY FOR FAILURE TO FILE PART-
NERSHIP RETURNS. 
(a) IN GENERAL.—Section 6698(b)(1) of the 1986 Code is 
amended by striking ‘‘$85’’ and inserting ‘‘$89’’. 
(b) EFFECTIVE DATE.—The amendment made by subsection (a) 
shall apply to returns required to be filed after December 31, 
2008. 
SEC. 128. MODIFICATION OF PENALTY FOR FAILURE TO FILE S COR-
PORATION RETURNS. 
(a) IN GENERAL.—Section 6699(b)(1) of the 1986 Code is 
amended by striking ‘‘$85’’ and inserting ‘‘$89’’. 
(b) EFFECTIVE DATE.—The amendment made by subsection (a) 
shall apply to returns required to be filed after December 31, 
2008. 
TITLE II—PENSION PROVISIONS 
RELATING TO ECONOMIC CRISIS 
SEC. 201. TEMPORARY WAIVER OF REQUIRED MINIMUM DISTRIBUTION 
RULES FOR CERTAIN RETIREMENT PLANS AND ACCOUNTS. 
(a) IN GENERAL.—Section 401(a)(9) of the Internal Revenue 
Code of 1986 (relating to required distributions) is amended by 
adding at the end the following new subparagraph: 
‘‘(H) TEMPORARY WAIVER OF MINIMUM REQUIRED DIS-
TRIBUTION.— 
‘‘(i) IN GENERAL.—The requirements of this para-
graph shall not apply for calendar year 2009 to— 
‘‘(I) a defined contribution plan which is 
described in this subsection or in section 403(a) 
or 403(b), 
‘‘(II) a defined contribution plan which is an 
eligible deferred compensation plan described in 
section 457(b) but only if such plan is maintained 
by an employer described in section 457(e)(1)(A), 
or 
‘‘(III) an individual retirement plan. 
‘‘(ii) SPECIAL RULES REGARDING WAIVER PERIOD.— 
For purposes of this paragraph— 
26 USC 401. 
26 USC 6699 
note. 
26 USC 6699. 
26 USC 6698 
note. 
26 USC 6698. 
26 USC 430 note. 
26 USC 430. 
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122 STAT. 5117 
PUBLIC LAW 110–458—DEC. 23, 2008 
‘‘(I) the required beginning date with respect 
to any individual shall be determined without 
regard to this subparagraph for purposes of 
applying this paragraph for calendar years after 
2009, and 
‘‘(II) if clause (ii) of subparagraph (B) applies, 
the 5-year period described in such clause shall 
be determined without regard to calendar year 
2009.’’. 
(b) ELIGIBLE ROLLOVER DISTRIBUTIONS.—Section 402(c)(4) of 
the Internal Revenue Code of 1986 (defining eligible rollover dis-
tribution) is amended by adding at the end the following new 
flush sentence: 
‘‘If all or any portion of a distribution during 2009 is treated 
as an eligible rollover distribution but would not be so treated 
if the minimum distribution requirements under section 
401(a)(9) had applied during 2009, such distribution shall not 
be treated as an eligible rollover distribution for purposes of 
section 401(a)(31) or 3405(c) or subsection (f) of this section.’’. 
(c) EFFECTIVE DATES.— 
(1) IN GENERAL.—The amendments made by this section 
shall apply for calendar years beginning after December 31, 
2008. 
(2) PROVISIONS RELATING TO PLAN OR CONTRACT AMEND-
MENTS.— 
(A) IN GENERAL.—If this paragraph applies to any pen-
sion plan or contract amendment, such pension plan or 
contract shall not fail to be treated as being operated 
in accordance with the terms of the plan during the period 
described in subparagraph (B)(ii) solely because the plan 
operates in accordance with this section. 
(B) AMENDMENTS TO WHICH PARAGRAPH APPLIES.— 
(i) IN GENERAL.—This paragraph shall apply to 
any amendment to any pension plan or annuity con-
tract which— 
(I) is made pursuant to the amendments made 
by this section, and 
(II) is made on or before the last day of the 
first plan year beginning on or after January 1, 
2011. 
In the case of a governmental plan, subclause (II) 
shall be applied by substituting ‘‘2012’’ for ‘‘2011’’. 
(ii) CONDITIONS.—This paragraph shall not apply 
to any amendment unless during the period beginning 
on the effective date of the amendment and ending 
on December 31, 2009, the plan or contract is operated 
as if such plan or contract amendment were in effect. 
SEC. 202. TRANSITION RULE CLARIFICATION. 
(a) AMENDMENT
TO
ERISA.—Subparagraph (B) of section 
303(c)(5) of the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1083(c)(5)) is amended— 
(1) by striking clause (iii) and redesignating clause (iv) 
as clause (iii); and 
(2) by striking clause (i) and inserting the following: 
‘‘(i) IN
GENERAL.—Except as provided in clause 
(iii), in the case of plan years beginning after 2007 
26 USC 401 note. 
26 USC 402. 
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122 STAT. 5118 
PUBLIC LAW 110–458—DEC. 23, 2008 
and before 2011, only the applicable percentage of the 
funding target shall be taken into account under para-
graph (3)(A) in determining the funding shortfall for 
purposes of paragraph (3)(A) and subparagraph (A).’’. 
(b) AMENDMENT TO 1986 CODE.—Subparagraph (B) of section 
430(c)(5) of the Internal Revenue Code of 1986 is amended— 
(1) by striking clause (iii) and redesignating clause (iv) 
as clause (iii); and 
(2) by striking clause (i) and inserting the following: 
‘‘(i) IN
GENERAL.—Except as provided in clause 
(iii), 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 para-
graph (3)(A) in determining the funding shortfall for 
purposes of paragraph (3)(A) and subparagraph (A).’’. 
(c) EFFECTIVE DATE.—The amendments made by subsections 
(a) and (b) shall apply as if included in the enactment of sections 
102 and 112, respectively, of the Pension Protection Act of 2006. 
SEC. 203. TEMPORARY MODIFICATION OF APPLICATION OF LIMITA-
TION ON BENEFIT ACCRUALS. 
In the case of the first plan year beginning during the period 
beginning on October 1, 2008, and ending on September 30, 2009, 
sections 206(g)(4)(A) of the Employee Retirement Income Security 
Act of 1974 (29 U.S.C. 1056(g)(4)(A)) and 436(e)(1) of the Internal 
Revenue Code of 1986 shall be applied by substituting the plan’s 
adjusted funding target attainment percentage for the preceding 
plan year for such percentage for such plan year but only if the 
adjusted funding target attainment percentage for the preceding 
plan year is greater. 
SEC. 204. TEMPORARY DELAY OF DESIGNATION OF MULTIEMPLOYER 
PLANS AS IN ENDANGERED OR CRITICAL STATUS. 
(a) IN GENERAL.—Notwithstanding the actuarial certification 
under section 305(b)(3) of the Employee Retirement Income Security 
Act of 1974 and section 432(b)(3) of the Internal Revenue Code 
of 1986, if a plan sponsor of a multiemployer plan elects the applica-
tion of this section, then, for purposes of section 305 of such Act 
and section 432 of such Code— 
(1) the status of the plan for its first plan year beginning 
during the period beginning on October 1, 2008, and ending 
on September 30, 2009, shall be the same as the status of 
such plan under such sections for the plan year preceding 
such plan year, and 
(2) in the case of a plan which was in endangered or 
critical status for the preceding plan year described in para-
graph (1), the plan shall not be required to update its plan 
or schedules under section 305(c)(6) of such Act and section 
432(c)(6) of such Code, or section 305(e)(3)(B) of such Act and 
section 432(e)(3)(B) of such Code, whichever is applicable, until 
the plan year following the first plan year described in para-
graph (1). 
If section 305 of the Employee Retirement Income Security Act 
of 1974 and section 432 of the Internal Revenue Code of 1986 
did not apply to the preceding plan year described in paragraph 
(1), the plan actuary shall make a certification of the status of 
the plan under section 305(b)(3) of such Act and section 432(b)(3) 
Certification. 
Time period. 
26 USC 432 note. 
Time period. 
26 USC 436 note. 
26 USC 430 note. 
26 USC 430. 
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122 STAT. 5119 
PUBLIC LAW 110–458—DEC. 23, 2008 
of such Code for the preceding plan year in the same manner 
as if such sections had applied to such preceding plan year. 
(b) EXCEPTION FOR PLANS BECOMING CRITICAL DURING ELEC-
TION.—If— 
(1) an election was made under subsection (a) with respect 
to a multiemployer plan, and 
(2) such plan has, without regard to such election, been 
certified by the plan actuary under section 305(b)(3) of such 
Act and section 432(b)(3) of such Code to be in critical status 
for the first plan year described in subsection (a)(1), 
then such plan shall be treated as a plan in critical status for 
such plan year for purposes of applying section 4971(g)(1)(A) of 
such Code, section 302(b)(3) of such Act (without regard to the 
second sentence thereof), and section 412(b)(3) of such Code (without 
regard to the second sentence thereof). 
(c) ELECTION AND NOTICE.— 
(1) ELECTION.—An election under subsection (a) shall— 
(A) be made at such time and in such manner as 
the Secretary of the Treasury or the Secretary’s delegate 
may prescribe and, once made, may be revoked only with 
the consent of the Secretary, and 
(B) if the election is made— 
(i) before the date the annual certification is sub-
mitted to the Secretary or the Secretary’s delegate 
under section 305(b)(3) of such Act and section 
432(b)(3) of such Code, be included with such annual 
certification, and 
(ii) after such date, be submitted to the Secretary 
or the Secretary’s delegate not later than 30 days 
after the date of the election. 
(2) NOTICE TO PARTICIPANTS.— 
(A) IN GENERAL.—Notwithstanding section 305(b)(3)(D) 
of such Act and section 431(b)(3)(D) of such Code, if the 
plan is neither in endangered nor critical status by reason 
of an election made under subsection (a)— 
(i) the plan sponsor of a multiemployer plan shall 
not be required to provide notice under such sections, 
and 
(ii) the plan sponsor shall provide to the partici-
pants and beneficiaries, the bargaining parties, the 
Pension Benefit Guaranty Corporation, and the Sec-
retary of Labor a notice of the election and such other 
information as the Secretary of the Treasury (in con-
sultation with the Secretary of Labor) may require— 
(I) if the election is made before the date the 
annual certification is submitted to the Secretary 
or the Secretary’s delegate under section 305(b)(3) 
of such Act and section 432(b)(3) of such Code, 
not later than 30 days after the date of the certifi-
cation, and 
(II) if the election is made after such date, 
not later than 30 days after the date of the election. 
(B) NOTICE OF ENDANGERED STATUS.—Notwithstanding 
section 305(b)(3)(D) of such Act and section 431(b)(3)(D) 
of such Code, if the plan is certified to be in critical status 
for any plan year but is in endangered status by reason 
Deadlines. 
Deadline. 
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122 STAT. 5120 
PUBLIC LAW 110–458—DEC. 23, 2008 
LEGISLATIVE HISTORY—H.R. 7327: 
CONGRESSIONAL RECORD, Vol. 154 (2008): 
Dec. 10, considered and passed House. 
Dec. 11, considered and passed Senate. 
of an election made under subsection (a), the notice pro-
vided under such sections shall be the notice which would 
have been provided if the plan had been certified to be 
in endangered status. 
SEC. 205. TEMPORARY EXTENSION OF THE FUNDING IMPROVEMENT 
AND REHABILITATION PERIODS FOR MULTIEMPLOYER 
PENSION PLANS IN CRITICAL AND ENDANGERED STATUS 
FOR 2008 OR 2009. 
(a) IN GENERAL.—If the plan sponsor of a multiemployer plan 
which is in endangered or critical status for a plan year beginning 
in 2008 or 2009 (determined after application of section 204) elects 
the application of this section, then, for purposes of section 305 
of the Employee Retirement Income Security Act of 1974 and section 
432 of the Internal Revenue Code of 1986— 
(1) except as provided in paragraph (2), the plan’s funding 
improvement period or rehabilitation period, whichever is 
applicable, shall be 13 years rather than 10 years, and 
(2) in the case of a plan in seriously endangered status, 
the plan’s funding improvement period shall be 18 years rather 
than 15 years. 
(b) DEFINITIONS
AND SPECIAL RULES.—For purposes of this 
section— 
(1) ELECTION.—An election under this section shall be made 
at such time, and in such manner and form, as (in consultation 
with the Secretary of Labor) the Secretary of the Treasury 
or the Secretary’s delegate may prescribe. 
(2) DEFINITIONS.—Any term which is used in this section 
which is also used in section 305 of the Employee Retirement 
Income Security Act of 1974 and section 432 of the Internal 
Revenue Code of 1986 shall have the same meaning as when 
used in such sections. 
(c) EFFECTIVE DATE.—This section shall apply to plan years 
beginning after December 31, 2007. 
Approved December 23, 2008. 
26 USC 432 note. 
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