Comprehensive Private Pension Security Act

[AI summary unavailable — showing source text] Comprehensive Private Pension Security Act - Title I: Findings; Purpose - States that it is the purpose of this Act to strengthen and improve the private retirement system by: (1) establishing minimum standards for participation in and vesting of benefits under pension and profit-sharing retirement plans, (2) establishing minimum funding standards; (3) requiring termination insurance and (4) by allowing Federal tax incentives to individuals for personal retirement savings. Title II: Office of Pension Plan Administration - Establishes within the Internal Revenue Service the Office of Pension Plan Administration and specifies that the Office shall carry out all functions of the IRS with respect to pension, profit-sharing and deferred compensation plans. Transfers to this Office those functions of the Secretary of the Treasury which are carried out through the Pension Trust Branch of the IRS. Title III: Amendments to the Internal Revenue Code - Sets those requirements for eligibility of a particular plan. Permits a worker to receive a nonforfeitable right to at least 25 percent of the pension benefits that have accumulated after participation in a plan for five years. Allows full vest…