### Question
How is the term unfunded new liability defined?


### Answer
The term **unfunded new liability** is defined in *26 U.S.C. § 412* as the following:

> the unfunded current liability of the plan for the plan year determined without regard to—


(i) the unamortized portion of the unfunded old liability, the unamortized portion of the additional unfunded old liability, the unamortized portion of each unfunded mortality increase, and the unamortized portion of the unfunded existing benefit increase liability, and


(ii) the liability with respect to any unpredictable contingent event benefits (without regard to whether the event has occurred)

#### Citation:
  - *26 U.S.C. § 412*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART I-PENSION, PROFIT-SHARING, STOCK BONUS PLANS, ETC. > Subpart B-Special Rules**

