118 STAT. 599 PUBLIC LAW 108–218—APR. 10, 2004 204(g) of the Employee Retirement Income Security Act of 1974 by reason of such amendment. (2) AMENDMENTS TO WHICH SECTION APPLIES.— (A) IN GENERAL.—This subsection shall apply to any amendment to any plan or annuity contract which is made— (i) pursuant to any amendment made by this sec tion, and (ii) on or before the last day of the first plan year beginning on or after January 1, 2006. (B) CONDITIONS.—This subsection shall not apply to any plan or annuity contract amendment unless— (i) during the period beginning on the date the amendment described in subparagraph (A)(i) takes effect and ending on the date described in subpara graph (A)(ii) (or, if earlier, the date the plan or contract amendment is adopted), the plan or contract is oper ated as if such plan or contract amendment were in effect; and (ii) such plan or contract amendment applies retro actively for such period. (d) EFFECTIVE DATES.— (1) IN GENERAL.—Except as provided in paragraphs (2) and (3), the amendments made by this section shall apply to plan years beginning after December 31, 2003. (2) LOOKBACK RULES.—For purposes of applying subsections (d)(9)(B)(ii) and (e)(1) of section 302 of the Employee Retirement Income Security Act of 1974 and subsections (l)(9)(B)(ii) and (m)(1) of section 412 of the Internal Revenue Code of 1986 to plan years beginning after December 31, 2003, the amend ments made by this section may be applied as if such amend ments had been in effect for all prior plan years. The Secretary of the Treasury may prescribe simplified assumptions which may be used in applying the amendments made by this section to such prior plan years. (3) TRANSITION RULE FOR SECTION 415 LIMITATION.—In the case of any participant or beneficiary receiving a distribution after December 31, 2003 and before January 1, 2005, the amount payable under any form of benefit subject to section 417(e)(3) of the Internal Revenue Code of 1986 and subject to adjustment under section 415(b)(2)(B) of such Code shall not, solely by reason of the amendment made by subsection (b)(4), be less than the amount that would have been so payable had the amount payable been determined using the applicable interest rate in effect as of the last day of the last plan year beginning before January 1, 2004. SEC. 102. ELECTION OF ALTERNATIVE DEFICIT REDUCTION CON TRIBUTION. (a) AMENDMENT OF ERISA.—Section 302(d) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1082(d)) is amended by adding at the end the following new paragraph: ‘‘(12) ELECTION FOR CERTAIN PLANS.— ‘‘(A) IN GENERAL.—In the case of a defined benefit plan established and maintained by an applicable employer, if this subsection did not apply to the plan for the plan Applicability. 26 USC 404 note. Effective date.
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