115 STAT. 116 PUBLIC LAW 107-16^JUNE 7, 2001 (1) in paragraph (2), by striking "A plan" and inserting "Except as provided in paragraph (12), a plan"; and (2) by adding at the end the following: " (12) FASTER VESTING FOR MATCHING CONTRIBUTIONS. — In the case of matching contributions (as defined in section 401(m)(4)(A)), paragraph (2) shall be applied— "(A) by substituting '3 years' for '5 years' in subparagraph (A), and "(B) by substituting the following table for the table contained in subparagraph (B): The nonforfeitable "Years of service: percentage is: 2 20 3 40 4 60 5 80 6 100.". (b) AMENDMENT OF ERISA.—Section 203(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1053(a)) is amended— (1) in paragraph (2), by striking "A plan" and inserting "Except as provided in paragraph (4), a plan", and (2) by adding at the end the following: "(4) In the case of matching contributions (as defined in section 401(m)(4)(A) of the Internal Revenue Code of 1986), paragraph (2) shall be applied— "(A) by substituting '3 years' for '5 years' in subparagraph (A), and "(B) py substituting the following table for the table contained in subparagraph (B): The nonforfeitable
- Years of service:
percentage is: 2 20 3 40 4 60 5 80 6 100.". 26 USC 411 note. (c) EFFECTIVE DATES. — Applicability. (1) IN GENERAL.— Except as provided in paragraph (2), the amendments made by this section shall apply to contributions for plan years beginning after December 31, 2001. (2) COLLECTIVE BARGAINING AGREEMENTS.— In the case of a plan maintained pursuant to one or more collective bargaining agreements between employee representatives and one or more employers ratified by the date of the enactment of this Act, the amendments made by this section shall not apply to contributions on behalf of employees covered by any such agreement for plan years beginning before the earlier of— (A) the later of— (i) the date on which the last of such collective bargaining agreements terminates (determined without regard to any extension thereof on or after such date of the enactment); or (ii) January 1, 2002; or (B) January 1, 2006. (3) SERVICE REQUIRED. —With respect to any plan, the amendments made by this section shall not apply to any employee before the date that such employee has 1 hour of
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