12 2 STA T .5 1 07PUBLIC LA W 110 –4 5 8—DE C.2 3, 2008 (2)insert in g‘ ‘ of s uchA ct ’ ’ a fter ‘‘section 407 ( d )(2)’’ . (d) A MEND MEN TSR E LA TED T OS E C T I ON 6 24. — Section 404(c)( 5 ) of E R I SAisa m ended by stri k ing ‘‘ p articipant’’ each p l ace it appears and inserting ‘‘participant or beneficiary’’. SEC.107 . AM E ND MEN T S R E L ATED T O T I TLE V II. (a) AMENDMENTS TO ERISA.— ( 1 ) Section 20 3 (f)(1)( B ) of ERISA is amended to read as follo w s
‘‘(B) the re q uirements of section 204(c) or 205(g) , or the requirements of subsection (e), with respect to accrued benefits deri v ed from employer contributions,’’. (2) Section 204(b)(5) of ERISA is amended— (A) by striking ‘‘clause’’ in subparagraph (A)(iii) and inserting ‘‘subparagraph’’, and (B) by inserting ‘‘otherwise’’ before ‘‘allowable’’ in subparagraph ( C ). (3) Subclause (II) of section 204(b)(5)(B)(i) of ERISA is amended to read as follows: ‘‘(II) PR ESER V ATION O F CA P ITAL.—An applicable defined benefit plan shall be treated as failing to meet the requirements of paragraph (1)( H ) unless the plan provides that an interest credit (or equivalent amount) of less than z ero shall in no event result in the account balance or similar amount being less than the aggregate amount of contributions credited to the account.’’. (b) AMENDMENTS TO 1 98 6 CODE.— (1) Section 411(b)(5) of the 1986 Code is amended— (A) by striking ‘‘clause’’ in subparagraph (A)(iii) and inserting ‘‘subparagraph’’, and (B) by inserting ‘‘otherwise’’ before ‘‘allowable’’ in subparagraph (C). (2) Section 411(a)(13)(A) of the 1986 Code is amended— (A) by striking ‘‘paragraph (2)’’ in clause (i) and inserting ‘‘subparagraph (B)’’, (B) by striking clause (ii) and inserting the following new clause: ‘‘(ii) the requirements of subsection (a)(11) or (c), or the requirements of section 417(e), with respect to accrued benefits derived from employer contribu - tions,’’, and (C) by striking ‘‘paragraph (3)’’ in the matter following clause (ii) and inserting ‘‘subparagraph (C)’’. (3) Subclause (II) of section 411(b)(5)(B)(i) of the 1986 Code is amended to read as follows: ‘‘(II) PRESERVATION OF CAPITAL.—An applicable defined benefit plan shall be treated as failing to meet the requirements of paragraph (1)(H) unless the plan provides that an interest credit (or equivalent amount) of less than zero shall in no event result in the account balance or similar amount being less than the aggregate amount of contributions credited to the account.’’. (c) AMENDMENTS TO 2006 ACT.— (1) Section 701(d)(2) of the 2006 Act is amended by striking ‘‘204(g)’’ and inserting ‘‘205(g)’’. 26USC41 1 note. 26 USC 411. 2 9 USC 1 05 4. 29 USC 105 3 . 29 USC 1104.
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