Pension Coverage and Portability Act

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Expanding Coverage for Small Business Title II: Increasing Pension Access and Fairness for Women Title III: Increasing Portability of Pension Plans Title IV: Strengthening Pension Security and Enforcement Title V: Encouraging Retirement Education Title VI: Reducing Red Tape Title VII: Plan Amendments Pension Coverage and Portability Act - Title I: Expanding Coverage for Small Business - Amends the Internal Revenue Code (IRC) and the Employee Retirement Income Security Act of 1974 (ERISA) to revise requirements relating to pension plan loans for Subchapter S owners, partners, and sole proprietors. (Sec. 102) Allows an employer to establish payroll deductions for contributions to employee individual retirement plans without incurring ERISA liability. (Sec. 103) Amends the IRC to allow an eligible employer to establish and maintain a SAFE annuity (an individual retirement annuity) or a SAFE trust (a trust forming part of a defined benefit plan), both to be funded by the employer. Makes the employer contributions deductible without limitation and otherwise provides for the treatment of contributions and distributions. Mandates a penalty for early withdrawals…