Employee Benefit Administration Act

[AI summary unavailable — showing source text] Employee Benefit Administration Act - Amends the administration and enforcement provisions of the Employee Retirement Income Security Act of 1974 to direct the President to establish an Employee Benefit Administration, to be headed by a Board of Directors consisting of the Secretary of Labor and Secretary of the Treasury, ex officio, and one person appointed by the President. Directs the President to transfer and vest in the Board: (1) the functions and duties of the Secretary of Labor under the Employee Retirement Income Security Act and under the Welfare and Pension Plans Disclosure Act; (2) such functions and duties of the Secretary of the Treasury under the Internal Revenue Code with respect to employee benefit plans and the Employee Retirement Income Security Act as the President may designate; and (3) such functions and duties of other Federal department and agencies with respect to employee benefit plans as the President may designate. Requires that such Presidential order provide for the transfer of all functions and duties relating to the qualification of employee benefit plans under the Internal Revenue Code and of such other functions and duties under the Code as may be …