118 STAT. 609 PUBLIC LAW 108–218—APR. 10, 2004 ‘‘(i) a determination by the plan sponsor under paragraph (1)(B) shall not be presumed to be correct, and ‘‘(ii) the plan sponsor shall have the burden to establish, by a preponderance of the evidence, the ele ments of the claim under section 4212(c) that a prin cipal purpose of the transaction was to evade or avoid withdrawal liability under this subtitle. Nothing in this subparagraph shall affect the burden of establishing any other element of a claim for withdrawal liability under this subtitle. ‘‘(B) PROCEDURE.—Notwithstanding subsection (d) and section 4219(c), if an employer contests the plan sponsor’s determination under paragraph (1) through an arbitration proceeding pursuant to subsection (a), or through a claim brought in a court of competent jurisdiction, the employer shall not be obligated to make any withdrawal liability payments until a final decision in the arbitration pro ceeding, or in court, upholds the plan sponsor’s determina tion.’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to any employer that receives a notification under section 4219(b)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1399(b)(1)) after October 31, 2003. SEC. 203. SENSE OF CONGRESS REGARDING DEFINED BENEFIT PEN SION SYSTEM REFORM. It is the sense of the Congress that the Congress must ensure the financial health of the defined benefit pension system by working to promptly implement— (1) a permanent replacement for the pension discount rate used for defined benefit pension plan calculations, and (2) comprehensive funding reforms for all defined benefit pension plans aimed at achieving accurate and sound pension funding to enhance retirement security for workers who rely on defined pension plan benefits, to reduce the volatility of contributions, to provide plan sponsors with predictability for plan contributions, and to ensure adequate disclosures for plan participants in the case of underfunded pension plans. SEC. 204. EXTENSION OF TRANSFERS OF EXCESS PENSION ASSETS TO RETIREE HEALTH ACCOUNTS. (a) AMENDMENT OF INTERNAL REVENUE CODE OF 1986.—Para graph (5) of section 420(b) of the Internal Revenue Code of 1986 (relating to expiration) is amended by striking ‘‘December 31, 2005’’ and inserting ‘‘December 31, 2013’’. (b) AMENDMENTS OF ERISA.— (1) Section 101(e)(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(e)(3)) is amended by striking ‘‘Tax Relief Extension Act of 1999’’ and inserting ‘‘Pen sion Funding Equity Act of 2004’’. (2) Section 403(c)(1) of such Act (29 U.S.C. 1103(c)(1)) is amended by striking ‘‘Tax Relief Extension Act of 1999’’ and inserting ‘‘Pension Funding Equity Act of 2004’’. (3) Paragraph (13) of section 408(b) of such Act (29 U.S.C. 1108(b)(3)) is amended— (A) by striking ‘‘January 1, 2006’’ and inserting ‘‘January 1, 2014’’, and 26 USC 420. Applicability. 26 USC 1401 note.
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