Retirement Income Incentives and Administrative Simplification Act of 1981

[AI summary unavailable — showing source text] Retirement Income Incentives and Administrative Simplification Act of 1981 - Title I: Employee Benefit Administration - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to direct the President to establish, by the beginning of the second calendar year after enactment of this Act, the Employee Benefit Administration as an independent agency within the executive branch to be headed by a three member Board of Directors. Provides for the appointment as Board members: (1) "special liaison officers to the Administration" whose positions are established within the Offices of the Secretary of Labor and the Secretary of the Treasury; and (2) an Executive Director appointed by the President. Vests in the Board all functions relating to the qualification of employee benefit plans under the Internal Revenue Code. Transfers to the Board the responsibilities for administration and enforcement of: (1) the Welfare and Pension Disclosure Act; (2) Internal Revenue Code provisions relating to tax-qualified deferred compensation plans and certain other employee benefit plans; and (3) ERISA. Directs the President to transfer to the Board additional functions of any Federal agency as a…