### Question
How is the "applicable plan year" defined?


### Answer
The term **applicable plan year** is defined in *29 U.S.C. § 1021* as follows -

> any plan year beginning after December 31, 2011, and before January 1, 2023, for which—


(I) the funding target (as defined in section 1083(d)(2) of this title) is less than 95 percent of such funding target determined without regard to section 1083(h)(2)(C)(iv) of this title,


(II) the plan has a funding shortfall (as defined in section 1083(c)(4) of this title and determined without regard to section 1083(h)(2)(C)(iv) of this title) greater than $500,000, and


(III) the plan had 50 or more participants on any day during the preceding plan year

#### Citation:
  - *29 U.S.C. § 1021*
  - Heading: **CHAPTER 18-EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle B-Regulatory Provisions > part 1-reporting and disclosure**

