Sec. 5. Effective dates
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/bill/116/s/975/is/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided in subsections
(c)and (d), the amendments made by section 2 shall apply to distributions and rollover contributions made in plan years beginning after the date that is 6 months after the date of the enactment of this Act. Except as provided in subsections
(c)and (d), the amendments made by section 3 shall apply to plan years beginning after December 31, 2019. In the case of a plan maintained pursuant to one or more collective bargaining agreements between employee representatives and one or more employers ratified before the date of the enactment of this Act, the amendments made by sections 2 and 3 shall not apply to distributions or rollover contributions on behalf of employees covered by any such agreement for plan years beginning before the earlier of— the later of— the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof on or after such date of the enactment); or the day after the date specified in subsection
(a)or (b), whichever is applicable; or the date that is 3 years after the applicable day described in paragraph (1)(B). If this paragraph applies to any plan or contract amendment, such plan or contract shall be treated as being operated in accordance with the terms of the plan during the period described in paragraph (2)(C). Paragraph
(1)shall apply to any amendment to any plan or annuity contract which is made— pursuant to the amendments made by section 2 or 3 or pursuant to any regulation issued under either such section; and on or before the last day of the first plan year beginning on or after the date that is 3 years after the applicable day described in subsection (c)(1)(B). In the case of a governmental plan (as defined in section 414(d) of the Internal Revenue Code of 1986), this subparagraph shall be applied by substituting 5 years for 3 years in clause (ii). Subparagraph
(A)shall not apply to any amendment unless— the plan or contract is operated as if such plan or contract amendment were in effect for the period described in subparagraph (C); and such plan or contract amendment applies retroactively for such period. The period described in this subparagraph is the period— beginning on the effective date specified by the plan; and ending on the date described in subparagraph (A)(ii) (or, if earlier, the date the plan or contract amendment is adopted).