Pension and Employee Benefit Act

[AI summary unavailable — showing source text] Pension and Employee Benefit Act - Establishes in the executive branch of the Government an independent agency to be known as the United States Pension and Employee Benefit Plan Commission. Provides that it shall be the duty of the Commission: (1) to promote the establishment, extension, and improvement of pension, profit-sharing-retirement and other employee benefit plans; (2) to accept for registration all pension and profit-sharing-retirement plans required and qualified to be registered with the Commission; (3) to cancel certificates of registeration of pension and profit-sharing-retirement plans which cease to be qualified for such registration; (4) to direct and administer the pension reinsurance program established by title II of this Act; (5) to direct and administer the pension portability program established by title III of this Act; (6) to enforce the provisions of title IV of this Act; and (7) to perform such other functions as may be necessary to administer the provisions of this Act. Sets forth the administrative powers of the Commission. Authorizes to be appropriated such sums as may be necessary to enable the Commission to carry out its functions and duties. Provide…