Pension Restoration Act of 1986

Summary

Pension Restoration Act of 1986 - Establishes a Federal annuity program to compensate participants in private pension plans which were terminated before September 1, 1974, for nonforfeitable pension benefits which were lost by reason of the termination. Sets forth entitlements of qualified participants and qualified spouses to such annuities. Makes such entitlements subject to appropriations. Sets forth formulas for computation of such annuities. Sets forth application requirements. Provides for administrative appeals and judicial review of denials of annuities. Sets forth provisions for payment of annuities. Provides for interagency coordination and cooperation. Directs the Pension Benefit Guaranty Corporation to prescribe regulations to carry out this Act. Establishes in the Treasury a Pension Restoration Trust Fund to be used by the Corporation in carrying out its duties to make annuity payments under this Act. Authorizes investment of Trust Fund assets under specified conditions. Authorizes appropriations for FY 1987 to the Trust Fund.

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1 official file

• Introduced in House

  summary · EN · 8 October 1986

  Open at official source

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