Employee Retirement Benefit Security Act

[AI summary unavailable — showing source text] Employee Retirement Benefit Security Act - Declares it to be the policy of this Act to protect interstate commerce, and the equitable interests of participants in private pension plans and their beneficiaries, by improving the scope, administration, and operation of such plans; to prevent the loss of employees' earned credits resulting from change of or separation from employment; and to protect vested benefits of employees against loss due to plan termination. Sets forth definitions of terms used in this Act. Title I: Portability Program for Vested Pensions - Establishes a portability program for vested pensions to effect the transfer of vested credits between all employee plans. Requires employee plans to apply for membership in the portatiliby program. Authorizes the Secretary to issue a certificate of membership to approved plans. Creates a Protability Program Fund. Requires a member plan to pay, upon request of the participant, to the fund a sum of money equal to the current discounted value of the participant's vested rights under the plan, when such participant is separated from employment covered by the plan before the time prescribed for payments to be made to him or to hi…