Pension Benefits Protection and Preservation Act of 1999

[AI summary unavailable — showing source text] Pension Benefits Protection and Preservation Act of 1999 - Amends the Internal Revenue Code (the Code) and the Employee Retirement Income Security Act of 1974 (ERISA) to require the plan administrator of any large (100 or more participants) defined employee benefit plan (applicable plan) to notify each applicable individual of any adoption of plan amendments that may reduce future benefit accruals of one or more participants to a specified significant extent (plan amendments), with details on the change's possible effect on the individual's pension, at least 45 days before such a plan change becomes effective. Directs the Secretary of the Treasury to enforce specified age discrimination provisions relating to pensions under the Code, without regard to the portion of the preamble to a specified Treasury Decision which relates to allocation of interest adjustments through normal retirement age under a cash balance plan. Declares that such preamble is, and has been since its adoption, without the force of law. Requires applicable plans to offer, in addition to the notice and written statement of benefit change, opportunity for applicable individual participants to elect to continue be…