12 2 STA T .5098PUBLIC LA W 110 –4 58 —DE C.2 3, 2008 (i)bystr i k i ng‘ ‘s ec ti o n 30 3 ’ ’ a n d inserting ‘‘section 4 30’’ in t h e m atter p receding s u bparagraph ( A ) , and (ii) by striking ‘‘a f unding’’ and inserting ‘‘an ad j usted funding’’ in subparagraph ( B ) . (B) S ection 43 6 (b)(3) of the 198 6 C ode is amended — (i) by inserting ‘‘ BEN E FIT ’’ after ‘‘E V ENT’’ in the heading, and (ii) by striking ‘‘any e v ent’’ in subparagraph (B) and inserting ‘‘an event’’. (C) Section 436(d)( 5 ) of the 1986 Code is amended by adding at the end the fo l lo w ing new flush sentence
‘‘Such term shall not include the payment of a benefit which under section 411(a)(11) may be immediately distributed with - out the consent of the participant.’’. ( D ) Section 436(f) of the 1986 Code is amended— (i) by inserting ‘‘adjusted’’ before ‘‘funding’’ in para- graph (1)(D), and (ii) by striking ‘‘prefunding balance under section 430(f) or funding standard carryover balance’’ in para- graph ( 2 ) and inserting ‘‘prefunding balance or funding standard carryover balance under section 430(f)’’. ( E ) Section 436(j)(3) of the 1986 Code is amended— (i) in subparagraph (A)— ( I ) by striking ‘‘without regard to this para- graph and’’, (II) by striking ‘‘section 430(f)(4)(A)’’ and inserting ‘‘section 430(f)(4)’’, and (III) by striking ‘‘paragraph (1)’’ and inserting ‘‘paragraphs (1) and (2)’’, and (ii) in subparagraph (C)— (I) by striking ‘‘without regard to this para- graph’’ and inserting ‘‘without regard to the reduc- tion in the value of assets under section 430(f)(4)’’, and (II) by inserting ‘‘beginning’’ before ‘‘after’’ each place it appears. ( F ) Section 436 of the 1986 Code is amended by redesig- nating subsection (k) as subsection (m) and by inserting after subsection (j) the following new subsections: ‘‘(k) SE CR ET A RIA L A U T HO RIT Y FOR P LAN SW ITH ALTERNATE V ALUATION DATE.—In the case of a plan which has designated a valuation date other than the first day of the plan year, the Secretary may prescribe rules for the application of this section which are necessary to reflect the alternate valuation date. ‘‘(l) SIN G LE-E MP LOYER PLAN.—For purposes of this section, the term ‘single-employer plan’ means a plan which is not a multiem- ployer plan.’’. (3) AMEN D MENTS TO 20 0 6 ACT.—Sections 103(c)(2)(A)(ii) and 113(b)(2)(A)(ii) of the 2006 Act are each amended— (A) by striking ‘‘subsection’’ and inserting ‘‘section’’, and (B) by striking ‘‘subparagraph’’ and inserting ‘‘para- graph’’. (d) AMENDMENTS R ELATED TO SECTIONS 10 7 AND 114.— (1) AMENDMENTS TO ERISA.— (A) Section 103(d) of ERISA is amended— 29USC10 2 3. 29 USC 1021
2 6 USC 4 36 note . 26 USC 436.
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