Pension Funding Equity Act of 2004

[AI summary unavailable — showing source text] Pension Funding Equity Act of 2003 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to temporarily replace (for plan years 2004 and 2005) the 30-year Treasury rate with a rate based on long-term corporate bonds for certain pension plan funding requirements. Expresses the sense of the Congress that it must ensure the financial health of the defined benefit pension system by working to promptly implement: (1) a permanent replacement for the pension discount rate used for defined benefit pension plan calculations; and (2) comprehensive funding reforms aimed at achieving accurate and sound pension funding.…