(3) Limitations on accelerated benefit distributions (A) Funding percentage less than 60 percent A defined benefit plan which is a single-employer plan shall provide that, in any case in which the plan’s adjusted funding target attainment percentage for a plan year is less than 60 percent, the plan may not pay any prohibited payment after the valuation date for the plan year. (B) Bankruptcy A defined benefit plan which is a single-employer plan shall provide that, during any period in which the plan sponsor is a debtor in a case under title 11 or similar Federal or State law, the plan may not pay any prohibited payment. The preceding sentence shall not apply on or after the date on which the enrolled actuary of the plan certifies that the adjusted funding target attainment percentage of such plan (determined by not taking into account any adjustment of segment rates under section 1083(h)(2)(C)(iv) of this title ) is not less than 100 percent. (C) Limited payment if percentage at least 60 percent but less than 80 percent (i) In general A defined benefit plan which is a single-employer plan shall provide that, in any case in which the plan’s adjusted funding target attainment percentage for a plan year is 60 percent or greater but less than 80 percent, the plan may not pay any prohibited payment after the valuation date for the plan year to the extent the amount of the payment exceeds the lesser of— (I) 50 percent of the amount of the payment which could be made without regard to this subsection, or (II) the present value (determined under guidance prescribed by the Pension Benefit Guaranty Corporation, using the interest and mortality assumptions under section 1055(g) of this title ) of the maximum guarantee with respect to the participant under section 1322 of this title . (ii) One-time application (I) In general The plan shall also provide that only 1 prohibited payment meeting the requirements of clause (i) may be made with respect to any participant during any period of consecutive plan years to which the limitations under either subparagraph (A) or (B) or this subparagraph applies. (II) Treatment of beneficiaries For purposes of this clause, a participant and any beneficiary on his behalf (including an alternate payee, as defined in subsection (d)(3)(K)) shall be treated as 1 participant. If the accrued benefit of a participant is allocated to such an alternate payee and 1 or more other persons, the amount under clause (i) shall be allocated among such persons in the same manner as the accrued benefit is allocated unless the qualified domestic relations order (as defined in subsection (d)(3)(B)(i)) provides otherwise. (D) Exception This paragraph shall not apply to any plan for any plan year if the terms of such plan (as in effect for the period beginning on September 1, 2005 , and ending with such plan year) provide for no benefit accruals with respect to any participant during such period. (E) Prohibited payment For purpose of this paragraph, the term “prohibited payment” means— (i) any payment, in excess of the monthly amount paid under a single life annuity (plus any social security supplements described in the last sentence of section 1054(b)(1)(G) of this title ), to a participant or beneficiary whose annuity starting date (as defined in section 1055(h)(2) of this title ) occurs during any period a limitation under subparagraph (A) or (B) is in effect, (ii) any payment for the purchase of an irrevocable commitment from an insurer to pay benefits, and (iii) any other payment specified by the Secretary of the Treasury by regulations. Such term shall not include the payment of a benefit which under section 1053(e) of this title may be immediately distributed without the consent of the participant.
29 USC § 1056(g)(3)
None identified, default scope is assumed to be the parent (part 2) of this section.