Page:United States Statutes at Large Volume 100 Part 5.djvu/863

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PUBLIC LAW 99-000—MMMM. DD, 1986

CONCURRENT RESOLUTIONS—MAR. 26, 1986

100 STAT. 4337

such distribution, in the manner described in subsection (b)(3), and shall"; (ii) strike out "that the plan is not sufficient for benefit commitments (or" in clause (ii), strike out "it)" in clause (ii) and insert in lieu thereof "it", strike out "whether" in clause (ii) and insert in lieu thereof "that", insert after "subsection (b)(3)," in clause (ii)(I) the following: "make certification to the corporation that the distribution has occurred, and take such actions as may be appropriate to carry out the termination of the plan,"; and (iii) strike out "that the plan is not sufficient for guaranteed benefits (or" in clause (iii), strike out "it)" in clause (iii) and insert in lieu thereof "it", and strike out "whether" in clause (iii)'and insert in lieu thereof "that"; (G) in section 4041(c)(3)(C) of ERISA, as proposed to be amended, strike out clauses (i) and-(ii) and insert in lieu thereof the following: "(i) FINDING WITH RESPECT TO BENEFIT COMMITMENTS WHICH ARE NOT GUARANTEED BENEFITS.—If, after the

.11;.

plan administrator has begun to terminate the plan as authorized under subparagraph (B)(i), the plan administrator finds that the plan is unable, or will be unable, to pay benefit commitments which are not benefits guaranteed by the corporation under section 4022, the plan administrator shall notify the corporation of such finding as soon as practicable thereafter. If the corporation concurs in the finding of the plan administrator (or the corporation itself makes such a finding) the corporation shall take the actions set forth in subparagraph (B)(ii)(II) relating to the trust established for purposes of section 4049. "(ii)

FINDING WITH RESPECT TO GUARANTEED BENE-

FITS.—If, after the plan administrator has begun to terminate the plan as authorized by subparagraph (B)(i) or (ii), the plan administrator finds that the plan is > unable, or will be unable, to pay all benefits under the plan which are guaranteed by the corporation under section 4022, the plan administrator shall notify the corporation of such finding as soon as practicable thereafter. If the corporation concurs in the finding of the plan administrator (or the corporation itself makes such a finding), the corporation shall institute appropriate proceedings under section 4042."; and (H) in section 4041(c)(3) of ERISA, as proposed to be amended, strike out subparagraph (D) and insert in lieu thereof the following: "(D) ADMINISTRATION OF THE PLAN DURING INTERIM PERIOD.—

"(i) IN GENERAL.—The plan administrator shall— "(I) meet the requirements of clause (ii) for the period commencing on the date on which the plan administrator provides a notice of distress termination to the corporation under subsection (a)(2) and ending on the date on which the plan administrator receives notification from the corporation of its determinations under subparagraph (A), and