A bill to amend the Internal Revenue Code of 1954 to provide pension reform.

[AI summary unavailable — showing source text] Provides for pension reform under the Internal Revenue Code. Subtitle A: Participation, Vesting, Funding, Administration - Sets forth minimum participation standards for pension, profit-sharing, and stock bonus plans under the Internal Revenue Code. Prohibits such plans from setting age and service requirements in excess of the later of age 25 or one year of service. Authorizes pension plans to exclude employees hired later than five years before retirement age. States that all qualified pension plans under this Act must provide that an employee's rights in his accrued benefits derived from his own contributions are nonforfeitable. Provides that after 10 years of service an employee must have a nonforfeitable right to 100 percent of his accrued benefits derived from employer contributions. Establishes methods for calculating accrued benefits and accumulated contributions for plans set up under the provisions of this Act. Provides that all government plans (including Federal Civil Service) are exempt from the participation and coverage standards established under this Act. Requires every employer, in accordance with regulations prescribed by the Secretary of the Treasury, to maintai…