Sec. 402. Aligning use of lookback months to determine interest rates
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The Secretary of the Treasury shall modify Treasury Regulation section 1.417(e)–1(d)(10)(ii) (or any successor provision) to provide that the same rule applicable to modifications of the time for determining the applicable interest rate shall apply to modifications of the time for determining any interest rate used by a plan to the extent that the use of such interest rate is permissible under section 417(e)(3) of the Internal Revenue Code of 1986, provided that the regulations shall require that after any such modification of such time under a plan pursuant to this section, no further modifications of such time are to be permitted for five years with respect to such plan without the consent of the Secretary of the Treasury.
As of the date of enactment of this Act, such regulation (or any successor provision) shall be deemed to be amended in such manner, so that this change in the regulations is deemed to have occurred.