PUBLIC LAW 103-465—DEC. 8, 1994 108 STAT. 5027 after December 31, 1994, valued using the assumptions required by paragraph (7)(C) as in efifect for plan years beginning after December 31, 1994, exceeds "(II) the unamortized portion of the unftmded old Uabihty under the plan as of the beginning of the first plan year beginning after December 31, 1994. "(ii) ELECTION. — "(I) An employer may irrevocably elect to apply the provisions of this subparagraph as of the beginning of the first plan yesir beginning after December 31, 1994. "(II) If an election is made under this clause, the increase under paragraph (1) for any plan year beginning after December 31, 1994, and before January 1, 2002, to which this subsection appHes (without regard to this subclause) shall not be less than the increase that would be required under paragraph (1) if the provisions of this title as in effect for the last plan year beginning before January 1, 1995, had remained in effect." (B) Clause (i) of section 302(d)(4)(B) of such Act is 29 USC 1082. amended by inserting ", the unamortized portion of the additional unftmded old liabihty," after "old HabOity". (5) APPLICABLE PERCE^fTAGE FOR DETERMINING UNFUNDED NEW LIABILITY AMOUNT.— Subparagraph (C) of section 302(d)(4) of such Act is amended— (A) by striking ".25" and inserting ".40", and (B) by striking "35" and inserting "60". (6) UNPREDICTABLE CONTINGENT EVENT AMOUNT. — (A) Subparagraph (A) of section 302(d)(5) of such Act is amended— (i) by striking "greater or and inserting "greatest of beiFore clause (i); (ii) by striking "or" at the end of clause (i); (iii) Dy striking the period at the end of clause (ii) and Inserting ", or"; ana (iv) by adding after clause (ii) the following new clause: "(iii) the additional amount that would be determined under paragraph (4)(A) if the unpredictable contingent event benefit liabilities were included in unftinded new liability notwithstanding paragraph (4)(B)(ii)." (B) Paragraph (5) of section 302(d) of such Act is amended by adding at the end the following new subparagraph: "(E) LIMITATION.—The present value of the amounts described in subparagraph (A) with respect to any one event shall not exceed the unpredictable contingent event benefit Uabijlities attributable to tiiat event" (C) Clause (ii) of section 302(e)(4)(D) of such Act is amended— (i) by striking "greater of and inserting "greatest of before subclause (I);
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