3.0.0 825 2023-01-15T23:33:12Z 2023-01-15T23:33:12Z Senate S S 2003-04-08 108 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2003-04-08T22:51:12Z 2003-04-08 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2003-04-08 Sponsor introductory remarks on measure. (CR S4973-4974) IntroReferral B00100 9 Library of Congress 2003-04-08 Introduced in Senate IntroReferral 10000 9 Library of Congress H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD N D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2003-04-08 True F000061 Sen. Feingold, Russell D. [D-WI] RUSSELL FEINGOLD D WI D. 2003-04-08 True K000105 Sen. Kennedy, Edward M. [D-MA] EDWARD KENNEDY D MA MOORE 2003-04-08 True B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2003-04-08 True D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN 2003-04-09 False D000596 Sen. Dayton, Mark [D-MN] MARK DAYTON D MN 2003-04-29 False Labor and Employment Administrative procedure Age discrimination Civil Rights and Liberties, Minority Issues Defined benefit pension plans Department of the Treasury Early retirement Employee rights Government Operations and Politics Government paperwork Law Retirement age Social Welfare Tax administration Taxation Labor and Employment 00 2003-04-08 Introduced in Senate 2006-11-28T17:35:40Z Requires ERISA, the Code, and the Age Discrimination Act of 1967 to be applied and administered without regard to certain proposed regulations of the Secretary of the Treasury that relate to reductions of accruals and allocations because of the attainment of any age, and to application of nondiscrimination cross-testing rules to cash balance plans.

Amends ERISA and the Code to protect certain DB plan participants from forced conversions to hybrid DB plans by plan amendments which change the way the accrued benefit to participants or beneficiaries are expressed and which reduce the rate of future benefit accrual of one or more participants. Requires employers, at the time such amendment takes effect, to provide employees who have attained 40 years of age or 10 years of service with certain notices and an election upon retirement to receive benefits as determined either under the plan in effect at time of retirement or under the plan in effect immediately before the plan amendment.

Sets forth a formula to determine when a plan amendment adopted by a large (100 or more participants) DB plan shall be treated as wearing away accrued benefits.]]>

Pension Benefits Protection Act of 2003 Display Title Pension Benefits Protection Act of 2003 Official Title as Introduced A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to protect pension benefits of employees in defined benefit plans and to direct the Secretary of the Treasury to enforce the age discrimination requirements of the Internal Revenue Code 1986. Introduced in Senate IS Short Titles as Introduced Pension Benefits Protection Act of 2003 Introduced in Senate 2003-04-08T04:00:00Z 2003-04-08 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.