94 STAT. 1230
Plan assets, ^^'"^
PUBLIC LAW 96-364—SEPT. 26, 1980
"(3) The amount of the unfunded vested benefits allocable to an employer under this paragraph is the product of— "(A) the plan's unfunded vested benefits as of the end of the plan year preceding the plan year in which the employer withdraws, less the value as of the end of such year of all outstanding claims for withdrawal liability which can reasonably be expected to be collected from employers withdrawing before such year; multiplied by "(B) a fraction— "(i) the numerator of which is the total amount required to be contributed by the employer under the plan for the last 5 plan years ending before the withdrawal, and "(ii) the denominator of which is the total amount contributed under the plan by all employers for the last 5 plan years ending before the withdrawal, increased by any employer contributions owed with respect to earlier periods which were collected in those plan years, and decreased by any amount contributed to the plan during those plan years by employers who withdrew from the plan under this section during those plan years. "(4)(A) The amount of the unfunded vested benefits allocable to an employer under this paragraph is equal to the sum of— "(i) the plan's unfunded vested benefits which are attributable to participants' service with the employer (determined as of the end of the plan year preceding the plan year in which the employer withdraws), and "(ii) the employer's proportional share of any unfunded vested benefits which are not attributable to service with the employer or other employers who are obligated to contribute under the plan in the plan year preceding the plan year in which the employer withdraws (determined as of the end of the plan year preceding the plan year in which the employer withdraws). "(B) The plan's unfunded vested benefits which are attributable to participants' service with the employer is the amount equal to the value of nonforfeitable benefits under the plan which are attributable to participants' service with such employer (determined under plan rules not inconsistent with regulations of the corporation) decreased by the share of plan assets determined under subparagraph (C) which is allocated to the employer as provided under subparagraph (D). "(C) The value of plan assets determined under this subparagraph is the value of plan assets allocated to nonforfeitable benefits which are attributable to service with the employers who have an obligation to contribute under the plan in the plan year preceding the plan year in which the employer withdraws, which is determined by multiplying— "(i) the value of the plan assets as of the end of the plan year preceding the plan year in which the employer withdraws, by "(ii) a fraction— "(I) the numerator of which is the value of nonforfeitable benefits which are attributable to service with such employers, and "(II) the denominator of which is the value of all nonforfeitable benefits under the plan as of the end of the plan year. "(D) The share of plan assets, determined under subparagraph (C), which is allocated to the employer shall be determined in accordance
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