CORRECT ENDANGERED STATUS FUNDING IMPROVEMENT PLAN TARGET FUNDED PERCENTAGE.

SEC. 105. CORRECT ENDANGERED STATUS FUNDING IMPROVEMENT PLAN TARGET FUNDED PERCENTAGE. (a) Amendment to Employee Retirement Income Security Act of 1974.—Section 305(c)(3)(A) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1085(c)(3)(A)) is amended— (1) in clause (i)(I), by striking “of such period” and inserting “of the first plan year for which the plan is certified to be in endangered status pursuant to paragraph (b)(3)”; and (2) in clause (ii), by striking “any plan year” and inserting “the last plan year”. (b) [26 U.S.C. 432] Amendment to internal revenue code.—Section 432(c)(3)(A) of the Internal Revenue Code of 1986 is amended— (1) in clause (i)(I), by striking “of such period” and inserting “of the first plan year for which the plan is certified to be in endangered status pursuant to paragraph (b)(3)”; and (2) in clause (ii), by striking “any plan year” and inserting “the last plan year”. (c) [26 U.S.C. 432 note] Effective Date.—The amendments made by this section shall apply with respect to plan years beginning after December 31, 2014.