No, it's not in the same way for the typical defined benefit pension plan that you think of, for which the employer is liable for the funding requirements and puts new funds into the plan. For these plans, if there is ever a funding deficit, the fixed contributions mean that no new funds go into the plan. The only alternative for the plans is to reduce benefits. The intent here, the removal of the solvency funding requirements for these plans, is to prevent those reductions in benefits that typically occur upon solvency deficiencies.
On June 1st, 2021. See this statement in context.