Sec. 40202. Extension of pension funding stabilization percentages for single employer plans
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The table contained in subclause
(II)of section 430(h)(2)(C)(iv) of the Internal Revenue Code of 1986 is amended to read as follows: If the calendar year is: The applicable minimum percentage is: The applicable maximum percentage is: Any year in the period starting in 2012 and ending in 2019 90% 110% Any year in the period starting in 2020 and ending in 2025 95% 105% 2026 90% 110% 2027 85% 115% 2028 80% 120% 2029 75% 125% After 2029 70% 130%. . Subclause
(I)of section 430(h)(2)(C)(iv) of such Code is amended by adding at the end the following: Notwithstanding anything in this subclause, if the average of the first, second, or third segment rate for any 25-year period is less than 5 percent, such average shall be deemed to be 5 percent. . The table contained in subclause
(II)of section 303(h)(2)(C)(iv) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1083(h)(2)(C)(iv)(II) ) is amended to read as follows: If the calendar year is: The applicable minimum percentage is: The applicable maximum percentage is: Any year in the period starting in 2012 and ending in 2019 90% 110% Any year in the period starting in 2020 and ending in 2025 95% 105% 2026 90% 110% 2027 85% 115% 2028 80% 120% 2029 75% 125% After 2029 70% 130%. . Section 101(f)(2)(D) of such Act ( 29 U.S.C. 1021(f)(2)(D) ) is amended— in clause
(i)by striking and the Bipartisan Budget Act of 2015 both places it appears and inserting , the Bipartisan Budget Act of 2015, and the , and Inspector General Independence Act in clause
(ii)by striking 2023 and inserting 2029 . The Secretary of Labor shall modify the statements required under subclauses
(I)and
(II)of section 101(f)(2)(D)(i) of such Act to conform to the amendments made by this section. Subclause
(I)of section 303(h)(2)(C)(iv) of such Act ( 29 U.S.C. 1083(h)(2)(C)(iv)(II) ) is amended by adding at the end the following: Notwithstanding anything in this subclause, if the average of the first, second, or third segment rate for any 25-year period is less than 5 percent, such average shall be deemed to be 5 percent. . The amendments made by this section shall apply with respect to plan years beginning after December 31, 2019.
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Sec. 40202
Extension of pension funding stabilization percentages for single employer plans
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