§221. Sunset of additional funding rules

Pension Protection Act of 2006

Title II Funding rules for Multiemployer Defined Benefit Plans and Related Provisions

Subtitle A Amendments to Employee Retirement Income Security Act of 1974

§201. Funding rules for multiemployer defined benefit plans

§202. Additional funding rules for multiemployer plans in endangered or critical status

§203. Measure to forestall insolvency of multiemployer plans§204. Withdrawal liability reforms§205. Prohibition on retaliation against employers exercising their rights to petition the federal government§206. Special rule for certain benefits funded under an agreement approved by the pension benefit guaranty corporationSubtitle B Amendments to Internal Revenue Code of 1986 §211. Funding rules for multiemployer defined benefit plans§212. Additional funding rules for multiemployer plans in endangered or critical status§213. Measures to forestall insolvency of multiemployer plans§214. Exemption from excise taxes for certain multiemployer pension plansSubtitle C Sunset of Additional Funding Rules

(a) REPORT.-Not later than December 31, 2011, the Secretary of Labor, the Secretary of the Treasury, and the Executive Director of the Pension Benefit Guaranty Corporation shall conduct a study of the effect of the amendments made by this subtitle on the operation and funding status of multiemployer plans and shall report the results of such study, including any recommendations for legislation, to the Congress.

(b) MATTERS INCLUDED IN STUDY.-The study required under subsection (a) shall include-

---

(b)(1) the effect of funding difficulties, funding rules in effect before the date of the enactment of this Act, and the amendments made by this subtitle on small businesses participating in multiemployer plans,

(b)(2) the effect on the financial status of small employers of-

(b)(2)(A) funding targets set in funding improvement and rehabilitation plans and associated contribution increases,

(b)(2)(B) funding deficiencies,

(b)(2)(C) excise taxes,

(b)(2)(D) withdrawal liability,

(b)(2)(E) the possibility of alternative schedules and procedures for financially troubled employers, and

(b)(2)(F) other aspects of the multiemployer system, and

(b)(3) the role of the multiemployer pension plan system in helping small employers to offer pension benefits.

(c) SUNSET.-

(c)(1) IN GENERAL.-Except as provided in this subsection, notwithstanding any other provision of this Act, the provisions of, and the amendments made by, sections 201(b), 202, and 212 shall not apply to plan years beginning after December 31, 2014.

(c)(2) FUNDING IMPROVEMENT AND REHABILITATION PLANS.- If a plan is operating under a funding improvement or rehabilitation plan under section 305 of such Act or 432 of such Code for its last year beginning before January 1, 2015, such plan shall continue to operate under such funding improvement or rehabilitation plan during any period after December 31, 2014, such funding improvement or rehabilitation plan is in effect and all provisions of such Act or Code relating to the operation of such funding improvement or rehabilitation plan shall continue in effect during such period.