S 1610 · 108th Congress · Labor and Employment

Defined Benefit Pension Plan Reform Act of 2003

Introduced 2003-09-11· Sponsored by Sen. Bayh, Evan [D-IN]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S11418-11419)(2003-09-11)

Plain Language Summary

[AI summary unavailable — showing source text] Defined Benefit Pension Reform Plan of 2003 - Amends the Internal Revenue Code (the Code) and the Employee Retirement Income Security Act of 1974 (ERISA) concerning minimum funding standards for pension plans to: (1) permit a multiemployer plan to elect to use an emergency investment loss method (as defined), starting in the first plan year in which there is an emergency investment loss; and (2) establish separate mortality tables for blue-collar and white-collar workers which may be used in lieu of the current table. Amends the Code to modify the full-funding limitation for purposes of the deduction limits on employer pension contributions. Amends ERISA to require notification of participants and beneficiaries of plan terminations by the Pension Benefit Guaranty Corporation.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat