Employee Benefits Simplification Act of 1991

[AI summary unavailable — showing source text] Employee Benefits Simplification Act of 1991 - Title I: Nondiscrimination Provisions - Amends the Internal Revenue Code with respect to employee benefit plans. Redefines the term "highly compensated employee" for pension, profit sharing, stock bonus plans, etc. purposes. Makes such an employee one who is a five-percent owner or who has compensation from the employer in excess of $50,000. Provides a special rule where no employees are treated as highly compensated. Allows employers to use prior year compensation in determining highly compensated employees. Provides that the cost-of-living adjustment with respect to any calendar year is based on the increase in the applicable index as of the close of the calendar quarter ending September 30 of the preceding calendar year over such index as of the close of the calendar quarter starting October 1, 1986. Requires the rounding of such amounts to the nearest $1,000, except that elective deferrals and elective contributions to simplified employee pensions are rounded to the nearest $100. Provides that the minimum participation requirements rule applies only to defined benefit pension plans. Requires such plans to benefit not less than 25 e…