Sec. 111. Guarantee rate increase for plans receiving financial assistance
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Section 4022A(c)(1) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1322(c)(1) ) is amended by striking subparagraph
(A)and inserting the following: 100 percent of the accrual rate up to $15, plus 75 percent of the lesser of— $54.67, or the accrual rate, if any, in excess of $15, and . The amendments made by this section shall apply to financial assistance provided by the Pension Benefit Guaranty Corporation— to plans that become insolvent after the date of the enactment of this Act; or pursuant to a special partition under section 4233A of the Employee Retirement Income Security Act of 1974, as added by this Act. The amendments made by this section shall not apply to financial assistance provided by the Pension Benefit Guaranty Corporation pursuant to a partition of a multiemployer plan occurring on or before the date of the enactment of this Act.
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Sec. 111
Guarantee rate increase for plans receiving financial assistance
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