[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2926 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 2926

  To amend title IV of the Employee Retirement Income Security Act of 
 1974 to require the Pension Benefit Guaranty Corporation, in the case 
 of airline pilots who are required by regulation to retire at age 60, 
  to compute the actuarial value of monthly benefits in the form of a 
                   life annuity commencing at age 60.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 15, 2005

 Mr. George Miller of California (for himself, Ms. Schakowsky, and Mr. 
   DeFazio) introduced the following bill; which was referred to the 
                Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
  To amend title IV of the Employee Retirement Income Security Act of 
 1974 to require the Pension Benefit Guaranty Corporation, in the case 
 of airline pilots who are required by regulation to retire at age 60, 
  to compute the actuarial value of monthly benefits in the form of a 
                   life annuity commencing at age 60.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pension Benefit Guaranty Corporation 
Pilots Equitable Treatment Act''.

SEC. 2. AGE REQUIREMENT FOR EMPLOYEES.

    (a) Single-Employer Plan Benefits Guaranteed.--Section 4022(b)(3) 
of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 
1322(b)(3)) is amended, in the flush matter following subparagraph (B), 
by adding at the end the following: ``If, at the time of termination of 
a plan under this title, regulations prescribed by the Federal Aviation 
Administration require an individual to separate from service as a 
commercial airline pilot after attaining a specified age which is less 
than age 65, the first sentence of this paragraph shall be applied to 
an individual who is a participant in the plan by reason of such 
service by substituting such age for age 65.''.
    (b) Aggregate Limit on Benefits Guaranteed.--Section 4022B(a) of 
such Act (29 U.S.C. 1322b(a)) is amended by adding at the end the 
following: ``If, as of such date, regulations prescribed by the Federal 
Aviation Administration require an individual to separate from service 
as a commercial airline pilot after attaining a specified age which is 
less than age 65, this subsection shall be applied to an individual who 
is a participant in any such plan by reason of such service by 
substituting such age for age 65.''.

SEC. 3. EFFECTIVE DATE.

    The amendments made by this Act shall apply to benefits payable on 
or after the date of the enactment of this Act.
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