108 STAT. 5004 PUBLIC LAW 103-465—DEC. 8, 1994 shall be reduced by the amount which bears the same ratio to such amount as— "(i) the value (as of the close of the plan year preceding the year of the qualified transfer) of the assets in all health benefits accounts or welfare benefit funds (as defined in section 419(e)(1)) set aside to Eay for the qualified current retiree health habihty, ears to "(ii) the present vsilue of the qualified current retiree health Uabliities for all plan years (determined without regard to this subparagraph)." 26 USC 420. (3) Subparagraph (D) of section 420(e)(1) is amended by striking "or in calculating applicable employer cost under subsection (c)(3)(B)" and inserting "and shall not be subject to the minimum benefit requirements of subsection (c)(3)". (4)(A) Section 101(e)(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1021(e)(3)) is amended by striking "1991" and inserting "1995". (B) Section 403(c)(1) of such Act (29 U.S.C. 1103(c)(1)) is amended by striking "1991" and inserting "1995". (C) Paragraph (13) of section 408(b) of such Act (29 U.S.C. 1108(b)(13)) is amended— (i) by striking "1996" and inserting "2001", and (ii) by striking "1991" and inserting "1995". 26 USC 420 note. (d) EFFECTIVE DATES.— (1) EXTENSION. — The amendments made by subsections (a) and (c)(3) shall apply to taxable years beginning after December 31, 1995. (2) BENEFITS. —The amendments made by subsections (b) and (c)(1) and (2) shall apply to qualified transfers occurring after the date of the enactment of this Act. SEC. 732. ROUM)ING RULES FOR COST-OF-LIVING ADJUSTMENTS. (a) CosT-OF-LiviNG ADJUSTMENT FOR COMPENSATION LIMIT.— Section 401(a)(17)(B) is amended to read as follows: "(B) COST-OF-LIVING ADJUSTMENT.— The Secretary shall adjust annually the $150,000 amount in subparagraph (A) for increases in the cost-of-Uving at the same time and in the same manner as adjustments under section 415(d); except that the base period shall be the calendar quarter beginning October 1, 1993, and any increase which is not a multiple of $10,000 shall be rounded to the next lowest multiple of $10,000. " (b) CosT-OF-LiviNG ADJUSTMENT FOR MAXIMUM DEFINED BENE- FIT AMOUNT AND MAXIMUM ANNUAL ADDITION.— (1) IN GENERAL. —Section 415(d) is amended to read as follows: " (d) CosT-oF-LiviNG ADJUSTMENTS.— "(1) IN GENERAL. —The Secretary shall adjust annually— " (A) the $90,000 amount in subsection (b)(1)(A), "(B) in the case of a participant who separated fix)m service, the amount taken into account under subsection (b)(1)(B), and Regulations. «(C) the $30,000 amount in subsection (c)( 1)(A), for increases in the cost-of-Hving in accordance with regulations prescribed by the Secretary.
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