II 110th CONGRESS 1st Session S. 191 IN THE SENATE OF THE UNITED STATES January 4, 2007 Mrs. Hutchison (for herself and Mr. Cornyn) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To provide pension relief for all air carriers with pension plans that are not frozen pension plans.

1.

Modification of the interest rate for the special funding rules of the Pension Protection Act of 2006

(a)

Interest rate

Section 402 (a)(2) of the Pension Protection Act of 2006 is amended by inserting and by using, in determining the funding target for each of the 10 plan years during such period, an interest rate of 8.25 percent (rather than the segment rates calculated on the basis of the corporate bond yield curve) after such plan year. (b)

Effective date

The amendment made by this section shall take effect as if included in the provisions of the Pension Protection Act of 2006 to which such amendment relates.