Public Employee Plan Reporting and Accountability Act of 1985

[AI summary unavailable — showing source text] Public Employee Pension Plan Reporting and Accountability Act of 1985 - Imposes disclosure and reporting requirements upon State and local government pension plans. Establishes fiduciary standards for trustees of public employee pension benefit plans. Provides remedies and access to Federal courts. Specifies employee benefit plans which are exempt from this Act. Title I: Reporting and Disclosure - Requires the administrator of each public employee pension benefit plan to submit a registration statement to the appropriate State Governor within one year of enactment of this Act. Exempts a plan from the reporting and disclosure requirements of this Act if a State Governor certifies to the Secretary of Labor that: (1) State requirements are substantially equivalent to those of this Act; (2) the State can adequately administer its requirements; and (3) the State can adequately collect the requisite reports. Requires the Secretary of Labor to terminate any certification if a State is not meeting Federal requirements. Requires the plan administrator to: (1) publish a summary plan description; and (2) furnish such description to plan participants, beneficiaries, and specified persons. Deli…