PUBLIC LAW 105-34—AUG. 5, 1997 111 STAT. 1069 under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 relating to retirement plans as applied to the use of new technologies by plan sponsors and administrators while maintaining the protection of the rights of participgmts and beneficiaries, and (2) clarify the extent to which writing requirements under the Internal Revenue Code of 1986 relating to retirement plans shall be interpreted to permit paperless transactions, (b) APPLICABILITY OF FINAL REGULATIONS.— F inal regulations applicable to the guidance regarding new technologies described in subsection (a) shall not be effective until the first plan year beginning at least 6 months after the issuance of such final regulations. Subtitle B—Other Provisions Relating to Pensions and Employee Benefits SEC. 1521. INCREASE IN CURRENT LIABILITY FUNDING LIMIT. (a) AMENDMENT TO 1986 CODE.— Section 412(c)(7) (relating to full-funding limitation) is amended— (A) by striking "150 percent" in subparagraph (A)(i)(I) and inserting "the applicable percentage", and (B) by adding at the end the following: " (F) APPLICABLE PERCENTAGE.—For purposes of subparagraph (A)(i)(I), the applicable percentage shall be determined in accordance with the following table: "In the case of any plan year begin- The applicable percentage is— ning in— 1999 or 2000 155 2001 or 2002 160 2003 or 2004 165 2005 and succeeding years 170.". (b) AMENDMENT TO ERISA. —Section 302(c)(7) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1082(c)(7)) is amended— (A) by striking "150 percent" in subparagraph (A)(i)(I) and inserting "the applicable percentage", and (B) by adding at the end the following: " (F) APPLICABLE PERCENTAGE.—For purposes of subparagraph (A)(i)(I), the applicable percentage shall be determined in accordance with the following table: "In the case of any plan year begfin- The applicable percentage is— ning in— 1999 or 2000 155 2001 or 2002 160 2003 or 2004 165 2005 and succeeding years 170.". (c) SPECIAL AMORTIZATION RULE. — (1) CODE AMENDMENT. —Section 412(b)(2) is amended by striking "and" at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting ", and", and by inserting after subparagraph (D) the following: "(E) the amount necessary to amortize in equal annual installments (until fully amortized) over a period of 20 years the contributions which would be required to be 39-194O-97-36:QL3 Parti
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