Retirement Protection Act of 1995

Summary

TABLE OF CONTENTS: Title I: Pension Plan Funding Title II: Amendments Related to Title IV of the Employee Retirement Income Security Act of 1974 Title III: Miscellaneous Amendments Title IV: Effective Date Retirement Protection Act of 1995 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to revise provisions for pension plan funding, compliance, premiums, and participant protection and services. Title I: Pension Plan Funding - Amends ERISA requirements for pension plan funding, including: (1) minimum funding, revising additional funding requirements for single-employer plans; (2) limitation on changes in current liability assumptions; (3) anticipation of bargained benefit increases; and (4) modification of the quarterly contribution requirement. Title II: Amendments Related to Title IV of the Employee Retirement Income Security Act of 1974 - Amends title IV (Plan Termination Insurance) of ERISA to revise requirements relating to reportable events. (Sec. 202) Authorizes the Pension Benefit Guaranty Corporation (PBGC) to apply for other judicial relief as an alternative to involuntary termination. (Sec. 203) Requires that specified additional information be furnished to the PBGC. (Sec. 204) Adds provisions relating to liability upon liquidation of a contributing sponsor or controlled group member where a single-employer plan remains ongoing. (Sec. 205) Revises provisions for: (1) enforcement of minimum funding requirements; and (2) remedies for noncompliance with requirements for standard termination. (Sec. 207) Prohibits benefit increases or other changes which increase plan liabilities where a plan sponsor is in bankruptcy. (Sec. 208) Revises provisions relating to substantial owner benefits to modify the phase-in of guarantee and the allocation of assets. Title III: Miscellaneous Amendments - Amends ERISA with respect to: (1) recovery ratio; (2) rules governing computation of amounts payable by the PBGC; (3) distress termination criteria for certain financial institutions; (4) single sum distributions; (5) adjustments to the lien for missed minimum funding contributions; and (6) funding of restored plans. Title IV: Effective Date - Sets forth the effective date of this Act.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 January 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 4 January 1995

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• Introduced in House

  summary · EN · 4 January 1995

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