Preservation of Defined Benefit Plans Act of 2005

[AI summary unavailable — showing source text] Preservation of Defined Benefit Plans Act of 2005 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to require all defined benefit pension plans, including hybrid plans such as a cash balance plan, to comply with certain rules, in cases of reduction in accrued benefits because of attainment of any age, in order to be deemed nondiscriminatory as to age. Provides certain wear-away protections with respect to the accrued benefits of participants in defined benefit pension plans during conversions to cash balance plans.…