a change in the applicable law. (5) Consent In the case of a qualified trust described in section 401(a) or 403(a) and an annuity contract described in section 403(b) with respect to which transfers may be made only with the consent of a participant or beneficiary pursuant to the terms of such trust or contract or pursuant to applicable law, such consent requirement shall apply without regard to this subsection. Nothing in this subsection shall affect the application of contract or plan terms otherwise applicable in the case of a withdrawal from the contract or plan. . (2) Aggregation Paragraph (2) of section 414(t) is amended by inserting 414(aa), after 274(j), . (3) Technical amendment The heading of subsection (z) of section 414 is amended by striking plan and inserting church plan . (b) Amendment to the Employee Retirement Income Security Act of 1974 Section 4 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1003 ) is amended by adding at the end the following new subsection: (d) This title shall apply to any plan or contract described in section 414(bb) of the Internal Revenue Code of 1986 to the extent necessary to comply with the requirements of such section. . (c) Effective date (1) In general The amendments made by this section shall apply to transfers or mergers in years beginning after the Secretary of the Treasury prescribes rules under section 414(aa) of the Internal Revenue Code of 1986, as added by this section. (2) Rules The Secretary of the Treasury shall issue rules under section 414(aa) of the Internal Code of 1986, as so added, within 1 year after the date of the enactment of this Act. 318. Exception from required distributions where aggregate retirement savings do not exceed $100,000 (a) In general Section 401(a)(9), as amended by this Act, is further amended by adding at the end the following new subparagraph: (K) Exception from required minimum distributions during life of employee or beneficiary where assets do not exceed $100,000 (i) In general If, as of a measurement