118 STAT. 604 PUBLIC LAW 108–218—APR. 10, 2004 by striking ‘‘or section 101(e)(1)’’ and inserting ‘‘, section 101(e)(1), or section 101(f)’’. (c) REGULATIONS AND MODEL NOTICE.—The Secretary of Labor shall, not later than 1 year after the date of the enactment of this Act, issue regulations (including a model notice) necessary to implement the amendments made by this section. (d) EFFECTIVE DATE.—The amendments made by this section shall apply to plan years beginning after December 31, 2004. SEC. 104. ELECTION FOR DEFERRAL OF CHARGE FOR PORTION OF NET EXPERIENCE LOSS. (a) EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974.— (1) IN GENERAL.—Section 302(b)(7) of the Employee Retire ment Income Security Act of 1974 (29 U.S.C. 1082(b)(7)) is amended by adding at the end the following new subparagraph: ‘‘(F) ELECTION FOR DEFERRAL OF CHARGE FOR PORTION OF NET EXPERIENCE LOSS.— ‘‘(i) IN GENERAL.—With respect to the net experi ence loss of an eligible multiemployer plan for the first plan year beginning after December 31, 2001, the plan sponsor may elect to defer up to 80 percent of the amount otherwise required to be charged under paragraph (2)(B)(iv) for any plan year beginning after June 30, 2003, and before July 1, 2005, to any plan year selected by the plan from either of the 2 imme diately succeeding plan years. ‘‘(ii) INTEREST.—For the plan year to which a charge is deferred pursuant to an election under clause (i), the funding standard account shall be charged with interest on the deferred charge for the period of deferral at the rate determined under section 304(a) for multiemployer plans. ‘‘(iii) RESTRICTIONS ON BENEFIT INCREASES.—No amendment which increases the liabilities of the plan by reason of any increase in benefits, any change in the accrual of benefits, or any change in the rate at which benefits become nonforfeitable under the plan shall be adopted during any period for which a charge is deferred pursuant to an election under clause (i), unless— ‘‘(I) the plan’s enrolled actuary certifies (in such form and manner prescribed by the Secretary of the Treasury) that the amendment provides for an increase in annual contributions which will exceed the increase in annual charges to the funding standard account attributable to such amendment, or ‘‘(II) the amendment is required by a collective bargaining agreement which is in effect on the date of enactment of this subparagraph. If a plan is amended during any such plan year in violation of the preceding sentence, any election under this paragraph shall not apply to any such plan year ending on or after the date on which such amendment is adopted. 29 USC 1021 note. Deadline. 29 USC 1021 note.
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