Page:United States Statutes at Large Volume 108 Part 6.djvu/462

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108 STAT. 5030 PUBLIC LAW 103-465—DEC. 8, 1994 "(B) UNFUNDED MORTALITY INCREASE.—For purposes of subparagraph (A), the term Sinfunded mortaUty increase' means an amount equal to the excess of—

    • (i) the current Uability of the plan for the first

plan year for which a plan uses any new mortality table issued under paragraph (7)(C)(ii)(II) or (III), over

    • (ii) the current habihty of the plan for such plan

year which would have been determined if the mortality table in effect for the preceding plan year had been used." (iii) CONFORMING AMENDMENT.—Clause (i) of section 302(d)(4)(B) of such Act, as amended by paragraph (4)(B), is amended by inserting "the unamortized portion of each unfunded mortaUty increase," after "additional imfunded old Hability,". (8) TRANSITION RULE.—Section 302(d) of such Act, as amended by paragraph (7), is amended by adding at the end the following new paragraph: " (11) PHASE-IN OF INCREASES IN FUNDING REQUIRED BY RETIREMENT PROTECTION ACT OF 1994.— " (A) IN GENERAL.—For any apphcable plan year, at the election of the employer, the increase under paragraph (1) shall not exceed the greater of— "(i) the increase that would be required under paragraph (1) if the provisions of this title as in effect for plan years beginning before January 1, 1995, had remained in effect, or "(ii) the amount which, after taking into account charges (other than the additional charge under this subsection) and credits under subsection (b), is necessary to increase the funded current liabiHty percentage (taking into account the expected increase in current Uability due to benefits accruing during the plan year) for the applicable plan year to a percentage equal to the sum of the initial funded ciurent Uability percentage of the plan plus the applicable niunber of percentage points for such applicable plan year. "(B) APPLICABLE NUMBER OF PERCENTAGE POINTS. — " (i) INITIAL FUNDED CURRENT LIABILITY PERCENT- AGE OF 75 PERCENT OR LESS. — Except as provided in clause (u), for plans with an initial funded current Uability percentage of 75 percent or less, the applicable number of percentage points for the applicable plan year is: "In the case The applicable of applicable number of Elan years percentage eginning in: points is: 1995 3 1996 6 1997 9 1998 12 1999 15 2000 19 2001 24. "(ii) OTHER CASES.—In the case of a plan to which this clause applies, the applicable number of percent-