[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1270 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 1270

  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.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 2, 2007

Mr. Akaka (for himself, Mr. Kennedy, Mr. Inouye, Mr. Obama, Mr. Durbin, 
  Mr. Harkin, Mr. Salazar, and Mr. Isakson) introduced the following 
  bill; which was read twice and referred to the Committee on Health, 
                     Education, Labor, and Pensions

_______________________________________________________________________

                                 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 AIRLINE PILOTS.

    (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 by inserting 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 
any age before age 65, 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; Criteria Applicable.--
Section 4022B(a) of the Employee Retirement Income Security Act of 1974 
(29 U.S.C. 1322b(a)) is amended 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 any age before age 65, this subsection 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.''.

SEC. 3. EFFECTIVE DATE.

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