PUBLIC LAW 109–280—AUG. 17, 2006
120 STAT. 859
standard account. Such account shall be credited and charged solely as provided in this section. ‘‘(2) CHARGES TO ACCOUNT.—For a plan year, the funding standard account shall be charged with the sum of— ‘‘(A) the normal cost of the plan for the plan year, ‘‘(B) the amounts necessary to amortize in equal annual installments (until fully amortized)— ‘‘(i) in the case of a plan which comes into existence on or after January 1, 2008, the unfunded past service liability under the plan on the first day of the first plan year to which this section applies, over a period of 15 plan years, ‘‘(ii) separately, with respect to each plan year, the net increase (if any) in unfunded past service liability under the plan arising from plan amendments adopted in such year, over a period of 15 plan years, ‘‘(iii) separately, with respect to each plan year, the net experience loss (if any) under the plan, over a period of 15 plan years, and ‘‘(iv) separately, with respect to each plan year, the net loss (if any) resulting from changes in actuarial assumptions used under the plan, over a period of 15 plan years, ‘‘(C) the amount necessary to amortize each waived funding deficiency (within the meaning of section 302(c)(3)) for each prior plan year in equal annual installments (until fully amortized) over a period of 15 plan years, ‘‘(D) the amount necessary to amortize in equal annual installments (until fully amortized) over a period of 5 plan years any amount credited to the funding standard account under section 302(b)(3)(D) (as in effect on the day before the date of the enactment of the Pension Protection Act of 2006), and ‘‘(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 made under the plan but for the provisions of section 302(c)(7)(A)(i)(I) (as in effect on the day before the date of the enactment of the Pension Protection Act of 2006). ‘‘(3) CREDITS TO ACCOUNT.—For a plan year, the funding standard account shall be credited with the sum of— ‘‘(A) the amount considered contributed by the employer to or under the plan for the plan year, ‘‘(B) the amount necessary to amortize in equal annual installments (until fully amortized)— ‘‘(i) separately, with respect to each plan year, the net decrease (if any) in unfunded past service liability under the plan arising from plan amendments adopted in such year, over a period of 15 plan years, ‘‘(ii) separately, with respect to each plan year, the net experience gain (if any) under the plan, over a period of 15 plan years, and ‘‘(iii) separately, with respect to each plan year, the net gain (if any) resulting from changes in actuarial assumptions used under the plan, over a period of 15 plan years,
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