Pension Rights Protection Act

[AI summary unavailable — showing source text] Pension Rights Protection Act - Title I: Internal Revenue Code 1954 Amendments - Provides that a trust shall not constitute a qualified trust if the plan of which such trust is a part requires, as a condition of participation, that an employee: (A) have a period of service with the employer in excess of 3 years, (B) have attained an age in excess of 25 years, or (C) have not attained (as of the first time when he is otherwise eligible to participate) an age which is less than 5 years less than the earliest age under the plan at which an employee may retire and receive benefits which are not actuarially reduced. States that a trust shall not constitute a qualified trust unless, under the plan of which such trust is a part, an employee's rights in at least 10 percent of his accrued benefit (determined in accordance with regulations prescribed by the Secretary of Labor or his delegate) are nonforfeitable (1) as of the close of the first plan year in which the sum of his age and his period of participation in the plan equals or exceeds 40 years, or (2) after he has participated in the plan for a period equal to 3 years reduced by any period of service with the employer before he was el…