ELIMINATION OF SPECIAL VESTING RULE FOR MULTIEMPLOYER PLANS.

SEC. 1442. ELIMINATION OF SPECIAL VESTING RULE FOR MULTIEMPLOYER PLANS. (a) Amendments to 1986 Code.— Paragraph (2) of section 411(a) (relating to minimum vesting standards) is amended— (1) by striking “subparagraph (A), (B), or (C)” and inserting “subparagraph (A) or (B)”; and (2) by striking subparagraph (C). (b) Amendments to ERISA.— Paragraph (2) of section 203(a) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1053(a)) is amended— (1) by striking “subparagraph (A), (B), or (C)” and inserting “subparagraph (A) or (B)”; and (2) by striking subparagraph (C). (c) Effective Date.— The amendments made by this section shall apply to plan years beginning on or after the earlier of— (1) the later of— (A) January 1, 1997, or (B) the date on which the last of the collective bargaining agreements pursuant to which the plan is maintained terminates (determined without regard to any extension thereof after the date of the enactment of this Act), or (2) January 1, 1999. Such amendments shall not apply to any individual who does not have more than 1 hour of service under the plan on or after the 1st day of the 1st plan year to which such amendments apply.