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LEGAL DISCLAIMER:
Information contained in this publication is not legal advice, and
should not be construed as legal advice. If you need legal advice upon which you can rely,
you should seek a legal opinion from your attorney.
years immediately following the election of the 30-year amortization period or 10-
year smoothing period unless:
the plan actuary certifies that –
any such increase is paid for out of additional contributions not allocated
to the plan immediately before the plan elected relief, and
the plan’s funded percentage and projected credit balances for those two
plan years are reasonably expected to be at least as high as such
percentage and balances would have been if the benefit increase had not
been adopted.
The Bill has been sent to the President for signature, which is expected soon. The
new law will have immediate ramifications. For a detailed look at the effective
dates of the multiemployer relief “click here.”
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