- 69 -
exceeds the benefit claims and is liable if the benefit claims
exceed the amount paid". H. Rept. 98-432 (Part 2), supra at 1280
n.18. Petitioners also look to section 1851(a)(8)(B) of the Tax
Reform Act of 1986, Pub. L. 99-514, 100 Stat. 2860, which
describes an experience-rated insurance policy to mean "the
employer has a contractual right to a refund or dividend based
solely upon the experience of such employer". Petitioners assert
that the conferees' use of the word "often" in their explanation
of section 419A(f)(6) means that the Prime Plan did not have to
function as a risk-distributing insurer in order to fall within
that section. Petitioners assert that the Suspense Account
satisfied any risk shifting requirement inherent in section
419A(f)(6) because actuarial gains were pooled to supplement
underfunded benefits of other employers.
We disagree with petitioners' assertion that the Prime Plan
is a single plan for purposes of subpart D. The Prime Plan is
nothing more than an aggregation of individual, unique plans
formed by separate employers who have: (1) Delegated to a common
administrator their (the employers') duties and responsibilities
with respect to the respective plans that each employee/owner has
tailored personally for his or her business and (2) contributed
funds to a trust overseen by a common trustee that was required
to disburse each employer's contributions, and earnings thereon,
primarily for the benefit of the contributing employer's
employees. The fact that Prime structured the Prime Plan to have
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