Sec. 701. Provisions relating to plan amendments
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Part 2 of subtitle B of title I of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1021 et seq. ) is amended— by redesignating section 211 as section 212; and by inserting after section 210 the following new section: If this section applies to any retirement plan or contract amendment— such retirement plan or contract shall be treated as being operated in accordance with the terms of the plan during the period described in subsection (b)(2)(A); and except as provided by the Secretary of the Treasury (or the Secretary's delegate) and the Secretary of Labor (or the Secretary's delegate), such retirement plan shall not fail to meet the requirements of section 411(d)(6) of the Internal Revenue Code of 1986 and section 204(g) of this Act by reason of such amendment.
This section shall apply to any amendment to any retirement plan or annuity contract which is made— pursuant to any amendment made by the RISE & SHINE Act or pursuant to any regulation issued by the Secretary of the Treasury or the Secretary of Labor (or a delegate of either such Secretary) under the RISE & SHINE Act ; and on or before the last day of the first plan year beginning on or after January 1, 2025. This section shall not apply to any amendment unless— during the period— beginning on the date the legislative or regulatory amendment described in paragraph (1)(A) takes effect (or in the case of a plan or contract amendment not required by such legislative or regulatory amendment, the effective date specified by the plan); and ending on the date described in paragraph (1)(B) (or, if earlier, the date the plan or contract amendment is adopted), the plan or contract is operated as if such plan or contract amendment were in effect; and such plan or contract amendment applies retroactively for such period. .
The table of contents in section 1 of the Employee Retirement Income Security Act of 1974 is amended by striking the item relating to section 211 and by inserting after the item relating to section 210 the following new items: Sec. 211. Plan amendments due to the RISE & SHINE Act. Sec. 212. Effective dates. .
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Sec. 701
Provisions relating to plan amendments
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