101 STAT. 1330-354
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PUBLIC LAW 100-203—DEC. 22, 1987 ship requirements of subsection (a) shall be treated as met only if such requirements are met— "(i) with respect to such employer, and "(ii) with respect to the controlled group of which such employer is a member (determined by treating all members of such group as a single employer). The Secretary of the Treasury may provide that an analysis of a trade or business or industry of a member need not be conducted if the Secretary of the Treasury determines such analysis is not necessary because the taking into account of such member would not significantly affect the determination under this subsection. "(B) CONTROLLED GROUP.—For purposes of subparagraph
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(A), the term 'controlled group' means any group treated as a single employer under subsection (b), (c), (m), or (o) of section 414 of the Internal Revenue Code of 1986."
(b) FREQUENCY OF WAIVERS.— (1) AMENDMENTS TO 1986 CODE.—The second sentence of sec-
26 USC 412.
tion 412(d)(1) of the 1986 Code is amended by striking out "more than 5 of any 15" and inserting in lieu thereof "more than 3 of any 15 (5 of any 15 in the case of a multiemployer plan)". (2) AMENDMENTS TO ERISA.—The second sentence of section
303(a) of ERISA (29 U.S.C. 1083(a)) is amended by striking out "more than 5 of any 15" and inserting in lieu thereof "more than 3 of any 15 (5 of any 15 in the case of a multiemployer plan)". (c) INTEREST ON REPAYMENT OF WAIVED CONTRIBUTIONS.— ^•i (1) AMENDMENTS TO 1986 CODE.—
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(A) Paragraph (1) of section 412(d) of the 1986 Code is amended by striking out the last sentence and inserting in lieu thereof the following new sentence: "The interest rate used for purposes of computing the amortization charge described in subsection (b)(2)(C) for any plan year shall be— "(A) in the case of a plan other than a multiemployer plan, the greater of (i) 150 percent of the Federal midterm rate (as in effect under section 1274 for the 1st month of such plan year), or (ii) the rate of interest used under the plan in determining costs, and "(B) in the case of a multiemployer plan, the rate determined under section 6621(b). ' (B) Subsection (e) of section 412 of the 1986 Code is amended by striking out the last sentence and inserting in lieu thereof the following new sentence: "In the case of a plan other than a multiemployer plan, the interest rate applicable for any plan year under any arrangement entered into by the Secretary in connection with an extension granted under this subsection shall be the greater of (A) 150 percent of the Federal mid-term rate (as in effect under section 1274 for the 1st month of such plan year), or (B) the rate of interest used under the plan in determining costs. In the case of a multiemployer plan, such rate shall be the rate determined under section 6621(b)."
- •' * (2) AMENDMENTS TO ERISA.—
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(A) Subsection (a) of section 303 of ERISA (29 U.S.C. 1083(a)) is amended by striking out the last sentence and inserting in lieu thereof the following new sentence: "The interest rate used for purposes of computing the amortiza-
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