FILINGS WITH THE PBGC.

SEC. 505. SECTION 4010 FILINGS WITH THE PBGC.(a) Change in Criteria for Persons Required To Provide Information to PBGC.—Section 4010(b) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1310(b)) is amended by striking paragraph (1) and inserting the following:“(1) the funding target attainment percentage (as defined in subsection (d)) at the end of the preceding plan year of a plan maintained by the contributing sponsor or any member of its controlled group is less than 80 percent;”.(b) Additional Information Required.—Section 4010 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1310) is amended by adding at the end the following new subsection:“(d) Additional Information Required.—“(1) In general.—The information submitted to the corporation under subsection (a) shall include—“(A) the amount of benefit liabilities under the plan determined using the assumptions used by the corporation in determining liabilities;“(B) the funding target of the plan determined as if the plan has been in at-risk status for at least 5 plan years; and“(C) the funding target attainment percentage of the plan.“(2) Definitions.—For purposes of this subsection:“(A) Funding target.—The term ‘funding target’ has the meaning provided under section 303(d)(1).“(B) Funding target attainment percentage.—The term ‘funding target attainment percentage’ has the meaning provided under section 302(d)(2).“(C) At-risk status.—The term ‘at-risk status’ has the meaning provided in section 303(i)(4).“(e) Notice to Congress.—The corporation shall, on an annual basis, submit to the Committee on Health, Education, Labor, and Pensions and the Committee on Finance of the Senate and the Committee on Education and the Workforce and the Committee on Ways and Means of the House of Representatives, a summary report in the aggregate of the information submitted to the corporation under this section.”.(c) Effective Date.—The amendments made by this section shall apply with respect to years beginning after 2007.