3.0.0 991 2023-01-13T04:48:03Z 2023-01-13T04:48:03Z Senate S S 2005-05-10 109 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2005-05-10T22:43:18Z Pension Fairness and Full Disclosure Act of 2005 109 2233 HR 2005-06-22 Referred to the Subcommittee on Employer-Employee Relations. Related bill CRS 2005-05-10 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2005-05-10 Sponsor introductory remarks on measure. (CR S4876) IntroReferral B00100 9 Library of Congress 2005-05-10 Introduced in Senate IntroReferral 10000 9 Library of Congress K000105 Sen. Kennedy, Edward M. [D-MA] EDWARD KENNEDY D MA MOORE N D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2005-05-10 True H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2005-05-10 True A000069 Sen. Akaka, Daniel K. [D-HI] DANIEL AKAKA D HI KOHIKINA 2005-05-10 True L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2005-05-11 False M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2005-05-16 False C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA 2005-05-17 False O000167 Sen. Obama, Barack [D-IL] Barack Obama D IL 2005-05-17 False Labor and Employment Administrative procedure Bankruptcy Civil actions and liability Commerce Corporate reorganizations Defined benefit pension plans Department of Labor Employee rights Executive compensation Finance and Financial Sector Government Operations and Politics Injunctions Law Pension funds Pension trust guaranty insurance Standards Tax-deferred compensation plans Taxation Trusts and trustees Valuation Labor and Employment 00 2005-05-10 Introduced in Senate 2005-06-08T21:20:18Z Pension Fairness and Full Disclosure Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to establish a termination fairness standard that limits availability of benefits under an employer's nonqualified deferred compensation plans if such employer's defined benefit pension plan is subjected to: (1) a termination based on bankruptcy reorganization; or (2) a conversion to a cash balance plan.

Prohibits funding nonqualified deferred compensation plans while maintaining underfunded defined benefit plans.

Imposes penalties on funding nonqualified deferred compensation plans: (1) in the event of a pension plan termination based on bankruptcy reorganization or of a conversion to a cash balance plan; or (2) while maintaining underfunded defined benefit plans.

Requires disclosure with respect to nonqualified deferred compensation plans.

]]> Pension Fairness and Full Disclosure Act of 2005 Display Title Pension Fairness and Full Disclosure Act of 2005 Official Title as Introduced A bill to amend title I of the Employee Retirement Income Security Act of 1974 to limit the availability of benefits under an employer's nonqualified deferred compensation plans in the event that any of the employer's defined benefit pension plans are subjected to a distress or PBGC termination in connection with bankruptcy reorganization or a conversion to a cash balance plan, to provide appropriate funding restrictions in connection with the maintenance of nonqualified deferred compensation plans, and to provide for appropriate disclosure with respect to nonqualified deferred compensation plans. Introduced in Senate IS Short Titles as Introduced Pension Fairness and Full Disclosure Act of 2005 Introduced in Senate 2005-05-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s991is/xml/BILLS-109s991is.xml 2005-05-10 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.