PUBLIC LAW 97-248—SEPT. 3, 1982
96 STAT. 505
percentage in the case of reorganizations, new corporations, and other similar circumstances." (2) TECHNICAL AMENDMENT.—Subsection (f) of section 6655 (as 26 USC 6655. redesignated by paragraph (D) is amended by striking out "(d), and (h)" and inserting in lieu thereof "(d), (e), and (i)" (e) EFFECTIVE DATE.—The amendments made by this section shall ^^^Y^^ ^^^^ note. apply to taxable years beginning after December 31, 1982.
Subtitle C—Pensions PART I—CONTRIBUTION AND LOAN LIMITS SEC. 235. LOWKR CONTRIIU TIO.N AM) MKNKFIT I.I.MITS FOR CERT.4IN .\NNHTIKS, KTC. (a) L I M I T ON A N N U A L D E F I N E D B E N E F I T LOWERED F R O M $136,425 TO $90,000; L I M I T ON A N N U A L D E F I N E D CONTRIBUTION LOWERED
FROM $45,475 TO $30,000.— (1) DEFINED BENEFIT PLANS.—Subparagraph (A) of section 415(b)(1) (relating to limitation for defined benefit plan) is amended by striking out "$75,000" and inserting in lieu thereof "$90,000". (2) DEFINED CONTRIBUTION PLANS.—Subparagraph (A) of section 415(c)(1) (relating to limitation for defined contribution plan) is amended by striking out "$25,000" and inserting in lieu thereof "$30,000". (3) CONFORMING AMENDMENTS.—
(A) Subparagraph (C) of section 415(b)(2) is amended by striking out "$75,000" each place it a p p e a r s and inserting in lieu thereof "$90,000". (B) The last sentence of paragraph (7) of section 415(b) is amended by striking out "by substituting '37,500' for '75,000' " and inserting in lieu thereof "by substituting the g r e a t e r of $68,212 or one-half the a m o u n t otherwise applicable for such year under paragraph (1)(A) for '$90,000' ". (b) COST-OF-LIVING ADJUSTMENTS. — (1) ADJUSTMENT TO REFLECT ADJUSTMENTS MADE IN SOCIAL SECURITY BENEFIT PAYMENTS RATHER THAN PRIMARY INSURANCE
A M O U N T S. — Paragraph (1) of section 415(d) (relating to cost-ofliving adjustments) is amended by striking out " p r i m a r y insurance a m o u n t s " and inserting in lieu thereof "benefit a m o u n t s ". (2) FREEZE ON COST-OF-LIVING ADJUSTMENTS BEFORE JANUARY i,
1986.— (A) IN GENERAL.—Subsection (d) of section 415 is amended by adding at the end thereof the following new paragraph: "(3) FREEZE ON ADJUSTMENT TO DEFINED CONTRIBUTION AND
BENEFIT LIMITS.—The Secretary shall not m a k e any adjustment under subparagraph (A) or (B) of paragraph (1) with respect to any year beginning after December 31, 1982, and before January 1, 1986." (B) C H A N G E IN BASE PERIOD TO REFLECT CHANGE IN LIMITS
AND FREEZE.—Paragraph (2) of section 415(d) (relating to base periods) is amended by striking out "1974" and inserting in lieu thereof "1984". (3) CONFORMING AMENDMENTS TO DECREASE IN LIMITS.—Para-
graph (1) of section 415(d) is amended—
26 USC 415.
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