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H.R. 1677 · 108th Congress

Pension Benefits Protection Act of 2003

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

BSI SandersSponsor
138 cosponsors · 135 D, 3 R
NAD Abercrombie GAD Ackerman RAD Andrews TAD Allen HBD Berman MBD Berry EBD Blumenauer SBR Boehlert SBD Brown TBD Baldwin JBD Baca TBD Bishop MBD Bordallo JCD Carson DCD Christensen JCD Conyers JCD Costello ECD Cummings LCD Capps MCD Capuano JCD Crowley ECD Case DDD Davis PDD DeFazio BDD Delahunt RDD DeLauro PDD Deutsch JDD Dingell LDD Doggett MDD Doyle SDD Davis EED Engel AED Eshoo RED Emanuel SFD Farr BFD Filner BFD Frank VGR Goode GGD Green LGD Gutiérrez RGD Grijalva AHD Hastings MHD Hinchey THD Holden DHD Hooley JHD Hoeffel RHD Holt JID Inslee SJD Jackson Lee WJD Jefferson SJD Jones MKD Kaptur PKD Kennedy DKD Kildee CKD Kilpatrick DKD Kucinich NLD Lampson TLD Lantos BLD Lee JLD Langevin SLD Lynch CMD Maloney EMD Markey CMD McCarthy JMD McGovern KMD McCarthy MMD McIntyre MMD Meehan BMD Menendez JMD Millender-McDonald GMD Miller JMD Murtha BMD McCollum KMD Meek MMD Michaud JND Nadler END Norton GND Napolitano JOD Oberstar DOD Obey JOD Olver SOD Ortiz MOD Owens FPD Pallone BPD Pascrell DPD Payne TPR Petri NRD Rahall SRD Reyes SRD Rothman BRD Rush CRD Rodriguez MRD Ross TRD Ryan BSD Scott JSD Serrano LSD Slaughter JSD Spratt TSD Strickland JSD Schakowsky ASD Schiff HSD Solis LSD Sánchez DSD Scott GTD Taylor BTD Thompson JTD Tierney ETD Towns MUD Udall TUD Udall NVD Velázquez PVD Visclosky RWD Wexler LWD Woolsey AWD Wynn AWD Weiner WCD Clay DDD DeGette GMD Meeks BSD Stupak CVD Van Hollen RBD Brady AAD Acevedo-Vilá EJD Johnson NLD Lowey ZLD Lofgren CBD Brown JJD Jackson JMD Moran HWD Waxman FBD Ballance ADD Davis MWD Waters MWD Watt WLD Lipinski JLD Lewis CFD Fattah LED Evans

116 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Pension Benefits Protection Act of 2003 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code) to protect pension benefits of employees in defined benefit (DB) plans, and to ensure that age discrimination laws are applied to conversions to cash balance plans and other such plans that are hybrids…

What it does: CRS summary · Introduced in House · Apr 8, 2003
Pension Benefits Protection Act of 2003 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code) to protect pension benefits of employees in defined benefit (DB) plans, and to ensure that age discrimination laws are applied to conversions to cash balance plans and other such plans that are hybrids of DB's and defined contribution plans.

Requires ERISA, the Code, and the Age Discrimination Act of 1967 to be applied and administered without regard to certain proposed regulations of the Secretary of the Treasury that relate to reductions of accruals and allocations because of the attainment of any age, and to application of nondiscrimination cross-testing rules to cash balance plans.

Amends ERISA and the Code to protect certain DB plan participants from forced conversions to hybrid DB plans by plan amendments which change the way the accrued benefit to participants or beneficiaries are expressed and which reduce the rate of future benefit accrual of one or more participants. Requires employers, at the time such amendment takes effect, to provide employees who have attained 40 years of age or 10 years of service with certain notices and an election upon retirement to receive benefits as determined either under the plan in effect at time of retirement or under the plan in effect immediately before the plan amendment.

Sets forth a formula to determine when a plan amendment adopted by a large (100 or more participants) DB plan shall be treated as wearing away accrued benefits.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Pension Benefits Protection Act of 2003

Latest action (May 2, 2003): Referred to the Subcommittee on Employer-Employee Relations.

Policy area: Labor and Employment · Origin: House · Introduced: Apr 8, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.