PUBLIC LAW 103-465—DEC. 8, 1994 108 STAT. 5041 Income Security Act of 1974 does not apply (as such section is in effect on the date of the enactment of the Retirement Protection Act of 1994).". (2) REPEAL OF $1,000,000 OFFSET. — Paragraph (3) of section 412(n) is amended to read as follows: 26 USC 412. "(3) AMOUNT OF LIEN. —For puiposes of paragraph (1), the amount of the lien shall be equal to the aggregate unpaid balance of required installments and other payments required under this section (including interest)—
- (A) for plan years beginning after 1987, and
"(B) for which payment has not been made before the due date." (3) REPEAL OF 60-DAY DELAY. — Section 412(n)(4)(B) is amended by striking "60th day following the". (b) AMENDMENTS TO THE EMPLOYEE RETIREMENT INCOME SECU- RITY ACT OF 1974.— (1) CLARIFICATION OF APPLICABILITY OF PROVISION.— Section 302(f)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1082(f)(1)) is amended by striking "to which this section applies" and inserting "covered under section 4021 of thisActf'. (2) REPEAL OF $1,000,000 OFFSET. —Paragraph (3) of section 302(f) of such Act is amended to read as follows: "(3) AMOUNT OF LIEN. —For purposes of paragraph (1), the amount of the lien shall be equal to the aggregate unpaid balance of required installments and other payments required under this section (including interest)— " (A) for plan years beginning after 1987, and "(B) for which payment has not been made before the due date." (3) REPEAL OF 6O-DAY DELAY. — Section 302(f)(4)(B) of such Act is amended by striking "60th day following the". (c) EFFECTIVE DATE. —The amendments made by this section 26 USC 412 note. shall be effective for installments and other payments required under section 412 of the Internal Revenue Code of 1986 or under part 3 of subtitle B of the Employee Retirement Income Security Act of 1974 that become due on or after the date of enactment. SEC. 769. SPECIAL FUNDING RULES FOR CERTAIN PLANS. 26 USC 412 note. (a) FUNDING RULES NOT TO APPLY TO CERTAIN PLANS.— Any changes made by this Act to section 412 of the Internal Revenue Code of 1986 or to part. 3 of subtitle B of title I of the Employee Retirement Income Security Act of 1974 shall not apply to— (1) a plan which is, on the date of enactment of this Act, subject to a restoration payment schedule order issued by the Pension Benefit Guaranty Corporation that meets the requirements of section 1.412(c)(l>-3 of the Treasury Regulations, or (2) a plan established by an affected air carrier (as defined under section 4001(a)(14)(C)(ii)(I) of such Act) and assumed by a new plan sponsor pursuant to the terms of a written agreement with the Pension Benefit Guaranty Corporation dated January 5, 1993, and approved by the United States Bankruptcy Court for the District of Delaware on December 30, 1992. (b) CHANGE IN ACTUARIAL METHOD.— Any amortization installments for bases estabhshed under section 412(b) of the Internal
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