(II) such $10,000 amount shall, in the case years beginning after December 31, 2018, be adjusted as described in section 408(p)(2)(E)(ii) except that the base period taken into account shall be the calendar quarter beginning July 1, 2017, (III) subclause (II) of subparagraph (B)(i) and clause (ii) of subparagraph (B) shall not apply, and (IV) section 414(v) shall not apply. (ii) Plan described A plan is described in this clause if the plan satisfies the following requirements: (I) Such plan satisfies the requirements of this paragraph, as modified by clause (i). (II) The plan includes a qualified automatic contribution arrangement, as defined in paragraph (13), except that subparagraph (D) of paragraph (13) shall not apply and the qualified percentage shall be determined by reference to subclauses (I), (II), (III), and (IV) of paragraph (13)(C)(iii). (III) The plan does not permit any participant or beneficiary to receive or maintain a loan from the plan. (IV) The plan does not permit hardship distributions described in paragraph (2)(B)(i)(IV) except to the extent any such distribution is deemed, under regulations prescribed by the Secretary, to be on account of an immediate and heavy financial need of the employee and necessary to satisfy an immediate and heavy financial need of the employee. (V) The plan is maintained pursuant to a model plan document published by the Secretary. . (b) Simplification (1) Model plan Within one year after the date of the enactment of this Act, the Secretary of the Treasury shall publish a model plan that may be used to satisfy the requirement of section 401(k)(11)(E)(ii)(V) of the Internal Revenue Code of 1986. (2) Protection against loss Within 120 days after the date of the enactment of this Act, the Secretary of Labor shall amend Department of Labor Regulation section 2550.404c–5(e)(4)(iv)(B) so that, in the case of a plan described in section 401(k)(11)(E) of such Code, four years shall be substituted for 120 days . (3) Clarifying duties and reducing burdens for multiple