Private Pension Reform Act-Retirement 2000

[AI summary unavailable — showing source text] Private Pension Reform Act - Retirement 2000 - Title I: Portable Pension Accounts - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to establish portability requirements for qualified pension plans. Requires qualified plans to: (1) maintain portable pension accounts to receive transfers from other such plans or accounts; and (2) make transfers of an employee's eligible amounts to another portable pension account, at the election of the employee upon separation from service. Allows individuals to establish portable pension accounts on their own behalf for receiving and making transfers to other such accounts of their own or of qualified plans. Sets forth standards for portable pension accounts, including distribution requirements for permitted retirement income forms, participant's consent, spousal consent, asset control, and notice. Defines eligible amount with respect to any participant, for defined benefit plans and for defined contribution plans, to include employee contributions. Sets forth a formula for determining the present value of accrued benefits of a participant. Directs the Secretary of Labor to prescribe by regulations one or more prototype portable…