1. Short title This Act may be cited as the Save Community Newspaper Act of 2018 . 2. Special rules for minimum funding standards for community newspaper plans (a) Amendment to Internal Revenue Code of 1986 Section 430 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (m) Special rules for community newspaper plans (1) In general The plan sponsor of a community newspaper plan under which no participant has had the participant's accrued benefit increased (whether because of service or compensation) after December 31, 2017, may elect to have the alternative standards described in paragraph (3) apply to such plan, and any plan sponsored by any member of the same controlled group, for purposes of this section for plan years beginning with any plan year in effect on or beginning after the date of the enactment of this subsection. (2) Election An election under paragraph (1) shall be made at such time and in such manner as prescribed by the Secretary. Such election, once made with respect to a plan year, shall apply to all subsequent plan years unless revoked with the consent of the Secretary. (3) Alternative minimum funding standards The alternative standards described in this paragraph are the following: (A) Interest rates (i) In general Notwithstanding subsection (h)(2)(C) and except as provided in clause (ii), the first, second, and third segment rates in effect for any month for purposes of this section shall be 8 percent. (ii) New benefit accruals Notwithstanding subsection (h)(2), for purposes of determining the funding target and normal cost of a plan for any plan year, the present value of any benefits accrued or earned under the plan for a plan year with respect to which an election under paragraph (1) is in effect shall be determined on the basis of the U.S. Treasury obligation yield curve for the day that is the valuation date of such plan for such plan year. (iii) U.S. Treasury obligation yield curve For purposes of this subsection, the term U.S. Treasury