Federal Pension Plans Protection Act

[AI summary unavailable — showing source text] Federal Pension Plans Protection Act - Title I: Plan Terminations Insurance - Establishes in the Department of Labor a program to be known as the private pension plan insurance program. Provides that such program shall insure beneficiaries of covered pension funds against the loss of benefits to which they are entitled arising from failure of the amounts contributed to such fund to provide benefits. Specifies on the insurance extended under such program. Requires an annual, uniform premium payment to the fund by eligible pension programs. Permits the Secretary of Labor to change the premium rates when necessary, and to determine the insurance of the rights of beneficiaries according to set priorities when it is not feasible to insure against loss of rights of all the beneficiaries. Authorizes the Secretary of the Treasury to establish a revolving fund into which all amounts paid into the program as premiums shall be deposited, and from which liabilities insured under the program shall be paid. Specifies the rate of interest on moneys borrowed from the Treasury. Rquires an employer who contributes to the terminating plan or who has terminated the plan and is not insolvent to reimbur…